TNT UPDATE, 29 SEPT

 Fri. 27 Sept. 2024 TNT Tony:

• On Thurs. 26 Sept. Bank managers received memos stating that the currency event has finally been finished. Finished, done, over with it. It went from the director level down to bank managers that got memos. Now we are just waiting to go. This should not happen until after 5pm.

• Some think it will be Saturday morning. Just remember that Iraq wants it by the 30th and the UN wants it on the 1st. Tony doesn’t know who won. They told us that it is done, it is fixed, they told their people it is finalized, and once we see the rates we will be going to the bank. Somewhere starting after 5 this afternoon and no later than Tuesday morning will see it live and be going to the bank.

• They are supposedly ready, staffed, have their schedules worked out, and they are just waiting to go when the numbers come up on the screen. It makes sense for us to see this Monday night, it satisfies what everyone wants, and we would be at the banks Tuesday morning. Everyone is kind of excited again.

• We are in our last 48 to 72 hours. It is sitting at the bank level. There is no more waiting for Iraq, IMF, or UST because it is done. They have given the banks the green light. The systems are now fixed or supposedly will be fixed. The only thing they are waiting on is the 800 number and Tony won’t get the 800 hundred numbers until the rates come back up. There really isn’t anything bad but Iran could do something s****d to flare up the middle eastern. If it happens before we do our part, then it is up in the air. The good thing is it is done, there is money, and it could happen for us. Be ready.

Weekend News with MarkZ and MM. 09/28/2024

"WELCOME HOME SUDANI... LET'S TALK" BY FRANK26, 29 SEPT

 KTFA

FRANK26: "WELCOME HOME SUDANI... LET'S TALK".......F26

Al-Sudani concludes his visit to New York by meeting Guterres, who praised the discussions to end UNAMI’s work in Iraq

 

9/27/2024

 

Prime Minister Mohammed Shia al-Sudani concluded his visit to New York by meeting with the Secretary-General of the United Nations, Antonio Guterres.

Al-Sudani concluded his participation in the 79th session of the United Nations General Assembly, leaving the United States of America heading to Iraq at dawn today, Friday, Baghdad time.

A statement issued by Al-Sudani's media office stated that the meeting between the latter and Guterres witnessed a review of all the files of constructive cooperation between Iraq and the United Nations, and issues of joint work, as well as discussing developments in the Middle East region and the continued aggression on Lebanon and Palestine, and what it poses as a major threat to regional and international security and stability.

Al-Sudani expressed his appreciation for the principled positions expressed by the UN Secretary-General regarding the issue of the "aggression" on Gaza, and the condemnation of the "crimes" against humanity committed against the Palestinian people, as well as the attacks practiced on Lebanon, describing these positions as respecting the foundations on which the international organization was built.

He renewed Iraq's thanks for the cooperation and support that the United Nations agencies have been providing to consolidate stability in Iraq, support the Iraqis in confronting ISIS, and enhance the victory achieved thanks to the cohesion of the Iraqi people and the assistance of friends and the international community.

According to the statement, the Prime Minister extended an invitation to the Secretary-General of the International Organization to visit Iraq and participate in the Arab Summit, which will be hosted by Baghdad in May 2025.

For his part, Guterres praised the relations between Iraq and the United Nations, describing them as ideal and excellent, and that the United Nations is interested in consolidating prosperity and progress, and achieving sustainable development for the Iraqi people .

He also expressed his gratitude for the constructive joint discussions that led to the termination of the UNAMI mission in Iraq, and opened up prospects for cooperation in several fields with the relevant UN agencies, most notably supporting Iraq in facing the challenges of climate change, and the rest of the economic challenges and social and service development programmes in which Iraq has made significant progress.

LINK

 

RV UPDATE BY MARKZ & MILITIAMAN, 29 SEPT

 MarkZ and Militia Man

  [via PDK]

  Militia Man: ...Iraq has done so much work and we all know Al Sudani was just in New York again at the US assembly. He also had sideline meetings and had his speech and returned home yesterday...With Sudani back now…why couldn’t it happen at any time? To me there is no reason it could not happen at any time.

  MarkZ:  I agree. He’s done the victory tours, he has told the world they are restored and fully international. …Time to see the fruit of his labors.  I wouldn’t be surprised to see my phone blowing up this weekend with the news that it has happened.

DINARLAND HIGHLIGHTS!!! @DINARREVALUATION

"THANK YOU FOR YOUR OPINION... BUT WE DON'T NEED IT BECAUSE ALAQ HAS ALREADY EXPLAINED IT TO US!!!" BY FRANK26, 29 SEPT

 KTFA

FRANK26: "THANK YOU FOR YOUR OPINION... BUT WE DON'T NEED IT BECAUSE ALAQ HAS ALREADY EXPLAINED IT TO US!!!"....F26

A specialist details the negatives and positives of removing zeros from the Iraqi currency

9/26/2024

 

 Baghdad

Economic expert Nabil Al-Marsoumi detailed the pros and cons of removing zeros from the local currency.

Al-Mawsumi said in a tweet followed by "Al-Ahd News", "The process of removing zeros from the currency means replacing a new currency with the old currency with the aim of simplifying the accounting process between consumers, and it is often resorted to by countries that suffer from high inflation and have become unable to deal with paper currencies of very weak value."

He added, "54 countries have previously implemented, at different times, the deletion of a group of zeros from their local currencies due to some positives resulting from such a measure, represented by the revaluation of the national currency, simplification of financial transactions, and streamlining of currency units as a necessary condition for reducing accounting numbers, facilitating accounting dealings, the cost of managing new large numbers, and the absence of small numbers."

Al-Marsoumi continued, “The issue of deleting 3 zeros from the Iraqi currency has been receiving attention and study from the Central Bank since 2007, but the bank has not yet taken such a measure due to the lack of two important conditions, the first of which is the instability of the dollar exchange rate against the Iraqi dinar and the second is the lack of political stability, in addition to the disadvantages and risks resulting from it:  (MR. ECONOMIST BOTH OF THESE ISSUES HAVE BEEN RESOLVED ACCORDING TO ALAQ!!! -F26)

First: The process of deleting zeros is not a magic solution to the problem of inflation, but rather a formal procedure aimed at giving momentum to the Iraqi economy.

Second: The impact on the behavior of consumers and producers, economic variables, and economic relations between Iraq and other countries.

Third: Deleting zeros is an imaginary change in the value of the currency and does not change its purchasing power.

Fourth: People may panic and abandon their dollar savings and replace them with Iraqi dinars, which will lead to a large and sudden growth in the money supply, undermining monetary stability.

Fifth: The high costs involved in printing the new Iraqi currency.

Sixth: The emergence of corruption in the process of disposing of old currency or the entry of counterfeit currencies and attempts to replace them with new currency, in addition to the occurrence of money laundering operations.

Seventh: The decision will not affect the competitiveness of Iraqi goods against foreign goods because the majority of transactions are conducted in dollars.

Eighth: Deleting zeros will create social problems at this stage due to the inability to convince the public to accept the decrease in the size of the monetary mass while acknowledging that the real value of the money is not affected. The issue is related to the mind and memory retention of large amounts, in addition to the difficulty of settling commercial and personal contracts and agreements.

LINK

 

RV UPDATE BY MILITIAMAN, 29 SEPT

 Militia Man

  Iraq is talking about "economic confidence", "consumption", "investment", all of these things.  At 1310? 

 I don't think so.  I don't think that's what they're talking about.

  I really don't think Iraq is going to be the savior of the international financial system or bring any confidence to the world at 1310. 

 Because they've been at 1310, 1180, 1166, 1182...1460...

but have they done anything about it?  

Are they internationally on the Forex trading?  No