Sat. 17 Aug. 2024 Wolverine
Monday, August 19, 2024
LATEST FROM WOLVERINE, 19 AUGUST
Sat. 17 Aug. 2024 Wolverine
Q & A - Where are we at Gin Gin?
💢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 Tier 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
Iraq's Auctions: Currency, Corruption, and Closure in 2024 BY DINAR REVALUATION, 19 AUGUST
Iraq's Auctions: Currency, Corruption, and Closure in 2024
In 2024, Iraq's auction scene has been marked by significant events, ranging from a historic currency rarity to the central bank's efforts to stabilize the economy and combat corruption, all culminating in the anticipated closure of the dollar selling window by year-end.
Currency Auctions: A Rarity Leads the Way
A rarity from Iraq, a 1931 1 Dinar note graded PMG 64 Choice Uncirculated, was a highlight in the Crown Currency auction, scheduled to conclude on May 31, 2024. This vibrant blue note, featuring King Faisal I, was created late in his reign and is among more than 600 world banknotes certified by Paper Money Guaranty® (PMG®) offered in the auction. With only one higher-graded example out of 72 in the PMG Population Report, this rare note underscores the historical and numismatic significance of Iraqi currency.
Central Bank's Forex Auctions: Managing the Economy
The Central Bank of Iraq (CBI) has been actively managing the country's monetary policy through its foreign currency auctions. In March 2024, CBI's US dollar sales exceeded 4,086,748,847—92% of the total sales. These auctions enable banks and financial organizations to buy and sell foreign currency, primarily the US dollar, to meet various needs and stabilize the local currency exchange rate.
On May 31, 2024, CBI auctioned over $274 million, with remittances significantly outweighing cash sales. The bank covered these transactions at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements, while the rate for cash transactions stood at 1,305 dinars per dollar.
Corruption and Reforms in Iraq's Banking System
Iraq's banking system has faced significant challenges, including corruption and money laundering, despite ongoing reforms. In May 2024, the central bank banned 197 companies from participating in foreign currency auctions as a measure against money laundering and terrorism financing. These measures, along with the adoption of the SWIFT system, reflect efforts to control inflation, manage liquidity, and maintain confidence in the national currency.
The Dollar Auction's Gradual Closure
By the end of 2024, the central bank plans to completely cancel the dollar auction, maintaining it only for audit and statistical purposes. This move is aimed at enabling Iraqi banks to establish stronger relationships with the global and regional banking sector, adhering to international standards. The cancellation of the dollar auction marks a significant step towards enhancing the sobriety of the Iraqi banking sector and its commitment to international requirements.
Conclusion
Iraq's auction landscape in 2024 has been a mix of historical currency rarities, efforts to stabilize the economy through forex auctions, and significant reforms aimed at combating corruption. The anticipated closure of the dollar selling window by year-end signals a new phase in the country's banking and financial systems, reflecting ongoing efforts to align with international standards and practices.
LATEST FROM SANDY INGRAM, 19 AUGUST
Sandy Ingram
Iraq just delayed the US group exit. It's a big deal. Iraq has chosen to delay the announcement of a departure date for the US-led military coalition.
This comes amidst escalating tensions between Israel and Iran...Currently around 2,500 US troops remain in Iraq...This delay in setting a withdrawal date underscores the Iraqi government's challenging position amidst internal and external pressures. Stay tuned for more updates as this situation continues to unfold.
Sandy Ingram
Research says 70% of all lottery winners are broke within 3 to 5 years after they win the lottery. These numbers are almost as high for ex-NFL football players who once they are no longer playing football go broke... They're doing exactly what I am strongly recommending you don't do. They are living off their winnings. You want to get into a mindset of replenishing your wealth. It will be easier to build more wealth once you have wealth. Money begot money. Money attracts money.
Sandy Ingram
The news from the Middle East has gone haywire. There appears to be consistent and organized misinformation coming out of the Middle East. [I] will do everything in [my] power to report correct and confirmed news reports...
Sandy Ingram
Iraq did not follow Kuwait's revalue path. The Untied States pulled back on financial support for Iraq's revalue shortly after the invasion was over when they made the decision that were not in alignment with economic growth for Iraq. It's been 20 years and the currency still has not been revalued...
We are learning more about why including issues like the IMF will not support a currency adjustment until the county has more income streams outside the oil industry, implementing banking reform that ties into international banking standards and providing housing for the hundred of thousands of people who have been misplaced due to decades of war, not to mention...corruption.
Sandy Ingram
Question: "How is Iraq going to do business in the international market with such a low currency rate?"
This is why Iraq will need to increase the value of its currency. Currency values... act as a silent force influencing a country's global competitiveness. When a country's currency value is low it can impact it's ability to compete...Iraq's top trading partners are China, India, South Korea and on the sidelines Iran. However things are about to change and fast. The development road project places Iraq right in the middle of the global financial markets. [We] have little doubt the Iraqi dinar will increase in value but we don't know when or how much.
A major financial change in Vietnam...Decree 52 regulates non-cash payment in Vietnam and will significantly alter Vietnam's financial landscape...Decree 52 marks a significant milestone in Vietnam's journey towards a cashless economy. If you have VND bank notes you will need to find out how you can comply with Decree 52 as a foreigner. [We] will research the topic and report back as soon as we understand the procedure. According to the news report the banks have 24 months to comply...
https://dinarevaluation.blogspot.com/2024/07/rv-update-by-sandy-ingram-20-july.html
The Central Bank transfers its secret safes to its new building. Clarification of the truth of the claim, 24 NOV
The Central Bank transfers its secret safes to its new building. Clarification of the truth of the claim Baghdad Today – Baghdad An inform...
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...