THE WORLD COURT RECEIVES DISPUTES (AND SEEKS RESOLUTION) BETWEEN NATIONS. THE DETAILS ARE INSIGNIFICANT, THE RV IS SLATED TO MOVE FORWARD NOW.
I'M BEING TOLD THE WORLD COURT "CLEARED" A FORMAL COMPLAINT TODAY AND TOMORROW IS A DEFINITE POSSIBILITY.
RayRen98
[via Babysmom]
I'M HEARING THAT A TECHNICAL ISSUE PREVENTED LIVE RATES ON YESTERDAY. THAT ISSUE IS EXPECTED TO BE RESOLVED TODAY...IF WHAT THEY ARE TELLING ME IS TRUE...SOME OF YOU ARE GONNA GO TO SLEEP WEALTHY $$$$$$..
.
RayRen98
...SOURCES ARE SAYING THAT THE RV WAS SUPPOSED TO HIT THE BANKS ON SATURDAY...THE CURRENT STATUS IS "HIGH ALERT" AND SOME HAVE REPORTED TO WORK EARLY THIS EVENING. TIME WILL TELL
RayRen98
3 LETTERS ARE "TALKIN" BUT I AIN'T "LISNIN" UNTIL I SEE SOME RESULTS! LOL THEY ARE LOOKING AT TONIGHT.
RayRen98
[via Babysmom] "SOME BANKS ARE SEEING A HIGH SELL RATE ON THE DINAR BUT SAY THEY CAN'T SELL IT YET...WAITING ON APPROVAL/CLEARANCE"
RayRen98
WAS JUST INFORMED BY A 3 LETTER... IF NOTHING CHANGES, BANKS WILL SEE LIVE RATES IN THE MORNING. TIME WILL TELL.
RayRen98
IT IS BEING REPORTED THAT AN "ATTEMPT TO RELEASE" WAS UNSUCCESSFUL EARLIER TODAY... STANDBY...WHEN WE HEAR MORE, SO SHALL YOU.
It can revive the Iraqi budget.. $14 billion in “losses” due to the halt of Kurdistan’s oil exports
Oil consultant and expert, Govind Shirwani, revealed today, Monday (August 19, 2024), that the losses from stopping the export of oil from the Kurdistan Region exceeded $14 billion after a year and a half of cessation.
In an interview with Baghdad Today, Sherwani said, “The losses of not exporting the Kurdistan Region’s oil through the Turkish port of Ceyhan exceeded 14 billion dollars, and this is a very large number, and it could have revived the Iraqi budget, which suffers from a lack of liquidity.”
He added, "There are meetings between the Iraqi Ministry of Oil, the Ministry of Natural Resources in the region, and some representatives of foreign companies, but so far there have been no positive indications indicating the resumption of oil exports, but the participation of the three parties in itself is good progress."
Turkey had earlier halted Iraq's exports of 450,000 barrels per day via the oil pipeline that runs from the Kurdistan Region in northern Iraq to the Turkish port of Ceyhan on March 25, 2023.
Turkey's decision to suspend exports came after an arbitration ruling by the International Chamber of Commerce ordered Turkey to pay Baghdad $1.5 billion in compensation for damages caused by the Kurdistan Regional Government exporting oil without permission from the government in Baghdad between 2014 and 2018.
Attempts to restart the pipeline have been delayed by Turkey's presidential election last month and discussions between the Iraqi government's state oil marketing company SOMO and the Kurdistan Regional Government over an export deal that has now been reached.
Among the issues to be resolved is whether Turkey will seek to negotiate the size of the compensation ordered by the International Chamber of Commerce, sources told Reuters earlier.
It also wants outstanding issues in other open arbitration cases to be permanently resolved before it agrees to resume flows, the sources said.
The Kurdistan region is suffering from a cash shortage due to the pipeline shutdown, and Iraqi politicians and Kurdish lawmakers said the region had no choice but to approve the budget, from which it would receive 12.67 percent of the total 198.9 trillion dinars ($153 billion).
The loss in revenue for the Kurdistan Regional Government due to the 80-day oil shutdown amounts to more than $2 billion, according to Reuters calculations based on exports of 375,000 barrels per day, in addition to the historical discount the KRG offers relative to the price of Brent crude.
The pipeline also exported about 75,000 barrels per day of federal crude link
Article quote: "Central Bank's inability to meet the needs of Iraq dinars which may force an increase in issued monetary mass."
They didn't say dollars, they said the need for dinar.
Why would they need to have dinar?
Remember...they've been bringing in 25k notes because...they're doing electronic. All that money that comes in gets credited on cards. They've been absorbing cash.
What were they doing in the background?
They were destroying money...They didn't tell you how much money they destroyed...But they're saying they're having a problem with liquidity...a problem...to meet the need for Iraq dinar...They're going to need money to be replaced. Could that be the new small category notes with more value? ...
Why in the world would you go out and destroy a bunch of money... make it into pellets for burning, when you're going to go and create new 25k notes. Does that make any sense to anybody?
Do you think they built that big, huge massive building...to have more inflation and a cheaper exchange rate less that 1310? That's what they would be doing...That doesn't make any sense whatsoever.
Economist identifies weaknesses in banking system: 80% of money supply in citizens’ homes – Urgent
Financial and economic affairs expert Alaa Jaloub Al-Fahd revealed today, Sunday (August 18, 2024), a weakness in the Iraqi banking system, while confirming the presence of 80% of the cash mass in citizens’ homes.
Al-Fahd told Baghdad Today, "The amount of cash liquidity pumped into the local market is estimated at the size of annual government spending, and this includes salaries, wages, and others. It constitutes a large percentage and is considered the citizen's purchasing power."
He added that "the rise in income levels after 2003, due to the increase in salaries, led to an increase in purchasing power, and this led to an increase in the level of demand for real estate and other things," indicating that "the rise in real estate prices has nothing to do with the issue of the increase in the citizen's cash liquidity or not, because this increase is dependent on the issue of supply and demand."
Al-Fahd explained that "any increase or decrease in the volume of liquidity is estimated by the size of real spending and the size of savings, considering that the citizen's income is divided between consumption and savings, and the higher the savings rate, the more it is supposed to be exploited economically through investment."
He pointed out that "there is a weakness in the banking system's ability to absorb all the cash available to citizens, as most of this cash is inside homes, far from banks," noting that "the amount of cash available to citizens in homes is estimated at more than 80% of the issued cash mass, and this constitutes a weakness in the banking system, in withdrawing that mass and investing it."
It is noteworthy that financial expert Saleh Al-Masrafi confirmed on Tuesday (August 6, 2024) that Iraq is among the highest countries in the Middle East in the file of hoarding money, while he diagnosed a grave error in the Iraqi banking system .
The banker said in an interview with Baghdad Today, "The accumulations that have continued for many years have pushed citizens to lose confidence in banks and resort to hoarding money in their homes," indicating that "its percentage reaches 70% of financial liquidity, and these are large numbers that indicate that we are among the highest countries in the Middle East in hoarding money ."
He added that "hoarding money in the financial concept is a grave mistake that will confuse the financial process and reduce the government's ability to provide liquidity to pay salaries," explaining that "resorting to electronic payment is a step in the right direction, but the most important thing is withdrawing liquidity, and there are several ways ."
The banker pointed out that "the recent issuance of treasury bonds is a correct decision, but the media propaganda to create a culture of safe investment in the street is very weak, and this is what creates low rates of dealing with them, even though the interest rates are attr
active ."
He stressed the "necessity of seeking to expand the circle of withdrawing liquidity from homes and creating a movement of money that contributes to increasing the recovery of investment and granting government loans, especially with the presence of requests that exceed by 5 times the amount of money allocated for loans in any sector, especially housing." link
FIREFLY: Saleh on TV talking about the possibility of using the dinar instead of the dollar on oil sales. He's talking about how and why...
FRANK: Sudani is now sending people on a daily basis out to talk to you...If it's not Saleh talking to you about the monetary reform, it's Alaq reminding you you're going to get purchasing power...
Then it's himself that comes out and tell you the project to lift the three zeros is still on the table, we're going to give you purchasing power like we promised you this year...Your purchasing power is coming.
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Saleh...was talking about...raising the value of the currency. He talked about it for 45 minutes.
FRANK: These are the people we want to listen to. They're the ones that Sudani is sending out to them...Everyday seems to be filled with monetary reform education to you Iraqi citizens. Don't you love it because this is what is supposed to be happening right now. They are preparing you for what they're going to give you, what they promised you. You are so close to receiving everything that they were talking to you about...
FIREFLY: We see Saleh again on TV. This is the second time he talks to us now about the float. He's saying the float can be adventurous. We intend to have it fixed. Ours will be fixed or managed float. That is what's best at this time for Iraq and our currency. He went and talked about how...we went from 11,000 ATMs to over 55,000...in gas stations alone...
FRANK: Ever since the United States Treasury showed up last week they just cannot stop talking to you every day on the television about the success of the monetary reform...new lower notes...the new exchange rate...Now it's gone way deeper into the float.
