Article: "Alaq's upcoming visit to New York supports banking system stability." People ask me why isn't he going to Washington?
What's in New York?
New York is part of the United States banking system, United States Federal Reserve Bank is in New York.Where is the account for Iraq's oil money?
...It's not in Washington D.C. It's not at the White House. It's definitely in New York isn't it.
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Militia Man
Article Quote: "Alaq confirmed... there will be meetings held with the Federal bank and US Treasury at the end of this August"
What's the date today?
It's not far off. The last meeting he had was unannounced...I think him coming back to the Untied States, he's probably going to bring something he should have had done a long time ago.
Article: "Iraq is heading towards printing new paper currency"
They're not going to print new currency in the sense of triple zero notes...There's no reason for it. They were destroying perfectly good triple zero notes. They did a video on it...destroying money, making little pellets. They had a whole show on it.
Why would they be destroying good money?
Granted, if they filmed that they were damaged with ink on them, all these different things, I understand that. That wasn't the case. In 2018...they spent tens of millions of dollars on printing new currency... Bottom line is, why would they be printing triple zero notes at a time when inflation is low? That would create inflation. The whole idea is not to do that.
Article quote: "There's no intention to print new paper currency at the central bank..."
FRANK26: "NO THEY HAVE A LOT MORE THAN THAT!!!"...........F26
More than 100 tons.. Iraq is the ninth largest buyer of gold in 2024
8/24/2024
Economy
Iraq ranked ninth globally among the top 10 countries buying gold this year. What is meant by gold is converting foreign currency reserves into gold, not the gold of goldsmiths and citizens.
Iraq bought 100 tons of gold this year, coming in ninth out of the top 10 countries buying gold this year, compared to 1,298 tons bought by Russia, as interest in buying gold is growing amid rising geopolitical tensions and economic fluctuations.
This comes as the precious metal hit an all-time high of $2,531.75 an ounce after breaking above $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.
Bullion typically benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield properties.
💢 Freedom Prevails, Liberty Lounger Extraordinaire 💥 Here are screenshots of the CBI website ... this IS SO EXCITING ...I can't translate the PDF exactly, but it has to be the instruction on currency exchange!!!!! I can feel the sand between my toes already and the sun shining on my face .... LET'S GO!!!! 🔥❤️🔥
💢 Goldilocks confirmed this has to do with Foreign Exchange Service Providers Working Procedures 😁
8.13.24
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Wed. 21 Aug. 2024 Ginger’s Liberty Lounge on Telegram: This RV is a Private Exchange, not a public one. The special exchange and/or redemption has special rates for currency – a Contract rate for a couple of currencies. One being the Iraqi Dinar, which is being given as a result of an Oil for Dinar agreement between Iraq and the countries that provided troops during the process to remove Saddam Hussein.
The purchase of oil in Dinar from Iraq will start as soon as the Revaluation starts. The Pre-revaluation Dinar will be used to purchase the oil at the new revalued price. For example, the current 25,000 Dinar note has a value against the US Dollar 1,460 dinar to 1 USD.
The 25,000 notes we have are those notes. The 25,000 Dinar notes we hold will be exchanged by the US Treasury at a high rate because they in turn will be used to purchase oil from Iraq after revaluation at face value as if they were the new notes. That means that a 25,000 Dinar note can currently buy about $17.00 worth of oil, however after revaluation that same note can buy around $93,000 worth of oil.
The Contract rate and the lower International rate are given to us in the Private exchange as a payment for what the US spent in that war. Vietnam holds a very high amount of Dinar and China has put their weight behind the Dongs revalue rate so that they can get the Dong after we exchange it, and the swap it for the Dinar that Vietnam has in order for them to buy oil with those old notes.
Iraq's Investment Landscape in 2024: A Comprehensive Guide
Iraq, with its rich history and vast natural resources, presents a unique landscape for investors seeking opportunities in the Middle East. As of August 25, 2024, the country's National Investment Commission (NIC) has published updated guides to help investors navigate the investment climate.
Key Investment Opportunities
The NIC's guides highlight a range of sectors ripe for investment, including energy, infrastructure, and real estate. With the world's fifth largest proven oil reserves, Iraq aims to quadruple oil production by 2027. Additionally, the government's commitment to developing infrastructure and social services offers significant prospects for growth.
Legal Framework and Strategic Advice
Investing in Iraq, however, is not without its complexities. The Legal 500's guide emphasizes the importance of legal and strategic advice for foreign investors.
Issues such as dealing with government authorities, understanding local market conditions, and protecting intellectual property rights are crucial considerations.
Investment Map and Opportunities
The NIC's Investment Map provides a detailed overview of investment opportunities across various sectors and regions.
It includes sectoral and regional data, offering insights into where and how to invest in Iraq.
Government Support for Investors
To attract foreign investment, the Iraqi government has established the One Stop Shop in the National and Provincial Investment Commissions. This service facilitates the processing of investment license applications, issuing licenses, allocating land, securing tax exemptions, and easing the entry and exit of investors and their employees.
Challenges and Risks
Despite the potential rewards, investing in Iraq involves dealing with a challenging business environment. Practical issues such as underdeveloped supply chains and obtaining insurance cover, while not the top concerns, highlight the developmental stage of the market.
