Bruce
[via WiserNow] ...we are hearing...coming from Iraq, that they will have their smaller denominations ready to go...
I don't think they have ones, but five – 10’s, 20s, 50s, and 100’s that's their new currency...the three zero notes from Iraq that we have...the 25,000 or 25k notes?
...the 10k, the 5k, the 1k – all of those 3 zero notes have been removed from Iraq...that should be done by the 30th this month, the last day of this month.
Economy News – Baghdad
The Chairman of the Securities Authority, Faisal Al-Haims, confirmed that foreign auditing companies have not proven any violations on the penalizing Iraqi banks, expecting the lifting of US sanctions, especially after the Prime Minister’s recent visit to New York,
Al-Hims said, in a televised interview, seen by “Economy News”, that “the Iraqi market needs a banking sector with international compliance standards to (live),” stressing that “the authority aims to raise the number of traders in shares by 500%.”
He continued: “We were recently granted the authority to open new branches of the Iraq Stock Exchange, and we agreed to open two new branches in the governorates of Erbil and Sulaymaniyah. We are open and seek to expand the market spread base and we will agree to any request to open a new branch if the legal conditions are met.”
The Chairman of the Securities Authority stressed: “We are working on promotional campaigns to introduce the function and benefits of investing in the Iraq Stock Exchange, and the investment sectors in it as well, although the current efforts need greater momentum, but we seek to develop an effective strategy to raise the number of investors in the Iraqi Stock Exchange to 5 times its current number of more than 40,000 investors, during the next two years.”
He pointed out that “foreign audit companies have not proven any violations against the punishing Iraqi banks, and this is enough to lift the federal sanctions, and we hope that the Prime Minister’s visit to the United States will contribute in this direction.”
He pointed out that “the Iraqi economy depends completely on the financial revenue of oil, and on imports in meeting local need, and it emphasizes the difficulty of living without an effective banking sector, and therefore there is no choice but to create a real banking movement that applies international compliance standards.”
He pointed out that “there is a credit problem in private banks, customers prefer government banks, despite the large difference in the quality and volume of services provided in terms of deposit and borrowing, yet the government banking sector seizes more than 70% of customers.”
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Added 2024/09/30 – 10:19 AM
https://economy-news.net/content.php?id=48162
TEXAS SNAKE
Expecting some really positive news about certain countries who have already revalued their currencies in the morning, this from multiple sources, We are almost there folks.
SEPT 02
More positive news from in country tonight continuing to suggest we remain on alert for announcing new rates
SEPT 04
Am waiting on additional confirmation similar to what MarkZ reported on his broadcast earlier tonight, very positive for us. Will share ASAP once received.
Fnu Lnu
I would like to assure the Dinar investor community of a couple of things. There comes a time when common sense and logic must prevail.
There will be NO travel necessary to exchange your Dinar for American dollars (USD). You will not have to go to Jordan, Egypt, or Syria. There will be NO $0.10 revaluation.
It was already at the rate of $3.22 to 1 Dinar when the only resource was oil. Dr. Shabibi, the preeminent expert, stated publicly, that Iraq could sustain an $16 to 1 Dinar rate but let's not get greedy. $4.80 is just about right.
Stay tuned because I will have a mind bender coming for you next time and it will really make you think.
--
Fnu Lnu
Exchange Centers are off premises bank facilities to prevent excess traffic at bank branches. It is illegal to have different rates at different places. Remember the Law of One Price.
Fnu Lnu
I do not buy this "Education Program" nor do I buy the "Adjusting of the Parallel Market". The education is taking too long to be effective and it isn't government's job to adjust black markets. These are stall tactics while they placate the masses. But why?...
When you drag out the "Education" as long as the GOI and CBI has been doing, nothing sticks. If it is not in practice, then it is just words from the mouths of bureaucrats. Iraq has had more than enough of that and they do not pay attention.
They will become educated when it means something to them, like the cost of goods and services, and buying power, and velocity of money. This is all obfuscation and I don't believe a word of it. Logic tells me they are stalling the people.
The $64,000.00 dollar question is why? What's the real plan?
Shafaq News/ US Secretary of State Anthony Blinken revealed on Monday new details regarding the agreement between Baghdad and Washington to end the international coalition’s missions in Iraq, including working on bilateral security arrangements that allow for the preservation of the “security partnership” between all.
“Ten years ago, the United States assembled a global coalition of 87 countries to counter ISIS, and together we have made significant progress,” Blinken said in a speech at the ministerial meeting of the Global Coalition to Defeat ISIS.
The US Secretary of State stressed the need for the coalition to enhance security and stability, including in Iraq and Syria, and prevent extremists such as ISIS from exploiting the conflict in the region to their advantage.
“At today’s meeting, the United States and Iraq — along with our other coalition partners — will discuss our plans for the gradual transition of Operation Inherent Resolve, which will conclude in Iraq by September 2025. During this period, the United States will work with Baghdad on bilateral security arrangements that will allow us to maintain and build our security partnership and cooperation,” he added.
“Our Iraqi partners will take greater responsibility to ensure that ISIS cannot retake territory within the country’s borders, and we are deeply grateful to Iraq and the Iraqi Security Forces for all the sacrifices they have made in this effort, and for their steadfast leadership in the fight against ISIS,” Blinken continued.
As we move into this new phase of cooperation, the US Secretary of State expressed his hope to continue working with partners in the international coalition, including the NATO mission in Iraq, which intends to continue its security relationship with Baghdad.
In another matter, Blinken revealed the United States’ intention to contribute $168 million to the annual stabilization pledge campaign implemented by the international coalition in Iraq and Syria, so that this assistance will enable the implementation of critical mine clearance operations, the restoration of basic services such as water and electricity, investment in education, and the promotion of economic opportunities.
Mnt Goat ...post RV Iraq will...be on the hook to sell oil to the US at a fixed, low price for the next 30 years (oil credits from our ...