Wednesday, October 23, 2024

"CHANGES TO THE MONETARY SYSTEM OF IRAQ!!!" BY FRANK26, 23 OCT

KTFA

FRANK26: "CHANGES TO THE MONETARY SYSTEM OF IRAQ!!!".......F26

Salaries will be delayed”.. Fundamental changes coming to the Iraqi monetary and financial system

10/18/2024

Economic researcher, Ziad Al-Hashemi, explained that the 2025 budget will be the first Iraqi general budget to rely on the dinar of correspondent bank transfers in light of (low oil prices) and (high local spending). This is a major qualitative shift that will not be without challenges and risks.

Al-Hashemi said in a post on the “X” platform, which was followed by “Jarida”, that “with the window and finally the platform stopping at the beginning of 2025 and the shift towards a direct bank transfer system, the Iraqi government, the Central Bank and the Iraqi economy as a whole will be facing a completely new experience that the Iraqi authorities do not seem to have prepared for adequately.”

He explained, "The Iraqi government continues its high spending without discipline and has not amended the 2025 budget schedules to control spending in a way that is consistent with the variables of the decline in oil prices and indicators of the decline in demand for oil globally during 2025."

He continued, "As for the Central Bank, it was not able to rehabilitate and develop Iraqi banks and prepare them for the platform's shutdown phase, and it will be forced to rely on only 4-5 banks that have the ability to pass direct transfers through their correspondent banks, which will create a large (financial bottleneck)."

He explained that, "In light of this, it is expected that Iraq will achieve low oil revenues (less than $6 billion per month) in 2025, which can only be passed through correspondent banks with limited numbers and capacity, to meet the bloated government operating finances that may exceed $8 billion per month."

He added, "This means that the Iraqi official and economic system will be exposed to a real state of (suffocation or financial difficulty) due to the large deficit between spending requirements and the volume of revenues received. In other words, the 2025 budget expenditures (such as salaries, retirement, etc.) will face serious stumbling and delay in payment with this new system."

He stressed that “the equation in Iraq will be very complicated during 2025 with the deterioration of oil prices and revenues, met by a large and uncontrolled increase in spending, without taking into account the slowdown in the global economy, and between this and that (the bottleneck of correspondent banks), which will generate a real deficit that may exceed 80 trillion in the best case.”

He pointed out that “these fundamental changes coming to the Iraqi monetary and financial system, and the challenges and risks they entail, have not yet motivated either the government or the Central Bank to move and adopt a special and urgent action plan related to dealing with the variables and data of this critical transitional period, which the Iraqi economy has never experienced before! When will the Central Bank pay attention and when will the government move?”

LINK

Dinar Revaluation Update: Payments Confirmed! BY JENTEL@DINARREVALUATION

You may ask why I do this summary? BY MNT GOAT, 23 OCT

You may ask why I do this summary?

I do this summary not because of my health or that I need it. I do it to help all of you to truly understand the progress in Iraq in these reforms.

This is not intel guru bullshit talk but FACTUAL progress leading us to the RV we all want. We all ask at some point why it has been taking so long. Now you can see for yourselves why. Don’t you get sick and tired of these every day /any day RV bullshitters?

Yes, when it doesn’t happen, they always have an “excuse” that something new held it up. Held it up? I don’t think so. When it is time, it will be on FOREX and with the kind of rate we all anticipate. Today the IQD rate in the Quantum Financial System (QFS) is $3.96.

When they decide to allow the IQD back on the exchanges, the rate will be mapped over to the exchanges from the QFS. There is also a series of other currencies that are also expected to be mapped over to.

Don’t ask me what they are as I am not going to play that game. Currencies revalue and devalue ever day. That is the nature of the currency exchanges. Get it?

Remember QFS has been in beta mode testing since 2012, when it was slotted by the IMF to be first mapped over in early January 2013 but was held up due the Obama administration, that redefined the reform plans and requirements for Iraq first,

thus halting the process that was underway by Dr Shabibi for the reinstatement at that time. It never even occurs to these intel guru idiots that maybe, yes quite possibly, there may be something else holding up the RV besides these ridiculous excuses they give. Oh…. gee whiz …..maybe it’s the needed reforms! ☹

We must remember that the RV is not an event by itself that will just happen someday but it is a byproduct of the reforms.

It can not happen without the reforms and one of the reforms (besides all the banking, insurance and stock market reforms) is the currency reform.

The Project to Delete the Zeros will begin the final stage.

The reason why they do not list this currency reform on the diagram in the White Paper, as one of the reforms in the Pillar of Financial Reforms, is that it is a byproduct of the other reforms. Get it?

In other words, if these strategies are completed the likelihood of seeing the IQD on FOREX again is extremely high. I believe it is inevitable.

There is one article of many I have selected from my upcoming next Thursday Newsletter 10/24 that I wanted to bring today. It is a very nice summary of why we are still waiting so long for the RV.

It summarizes the strategies of the CBI and why the hold up. It is their words not mine. I only bring the FACTS and TRUTH. I hope you can take a few minutes read through it and learn exactly what is going on in Iraq. Then go through my summary list of items for October progress. Can you see it now? All I can say is WOW! WOW! WOW! 😊

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

STATUS OF THE RV BY MNT GOAT , 23 OCT

STATUS OF THE RV

If you remember a couple months ago, at just about this timeframe, the Iraqi economist Yasser Al-Mutawali asked the question to the Finance Ministry and to the general public – “Is It Time To Remove The Zeros” ?

So, another month has passed and we still didn’t see this project executed. But should we? We have been since told by my CBI contact on the committee that we should expect to see the ramped-up Project to Delete the Zeros sometime soon after the U.S. election period is over sometime in November. This period of time through December will begin the process for the swap out with the newer lower denominations. To me this also means about a 1:1 at par rate of the IQD with the US dollar. But remember this is IN-COUNTRY only. Also remember these actions ALWAYS have dependencies. Nothing is a guarantee! I want to make this VERY CLEAR to you today.

So what did we learn October about the Project to Delete the Zeros? We learned that the media is constantly broadcasting commercials about how the swap out will work. I even should you a couple of these videos. Remember?

Then the news media from Iraq tells us about the “cash center” that recently opened in Karkh. It is used solely for the intake of the three zero dinar notes or dollars. Folks they are already sucking in the three zero notes. What more do you want? It’s mid-October already just 14 days to the US elections. With the electronic banking and the reorganization of the banks, the citizens seem to have regained confidence in their banking system.

The reason why they had to open this new cash only center, according to my CBI contact, is that there was a huge response to ditch these three zero notes before they may become obsoleted and the lower notes replace them. Citizens remember what happened in 2004, when they had to turn in their Saddam Hussien notes by a deadline. Many people got stuck with these notes, as they forgot or did not trust the banks. They lost millions when the deadline came and they were obsoleted/voided. The CBI has not yet announced a deadline but still the citizens remember what happened back 20 years ago. So in reality, unofficially, the process of deleting the zeros has already begun. Yes, it is underway according to my CBI contact.

Just so you know, this is all not just some stupid, silly guru intel talk.

Once again, the Project to Delete the Zeros raises its head up in many new articles in October too. But why is this? Is it close at hand? But also remember the past. I know from experience from many of my conversations with my CBI contact that they pivot on goals, set them and then move in that direction. Often, they underestimate the timeframes needed to get there. They have to get there first and hope for the best.

So today is the third week of the month and as usual I want to give a short summary of the progress of Iraq has made this period. I also like to call them benchmarks, accomplishments or maybe even a recap. What are these major accomplishments we should have paid attention to? Did you read the articles and listen to my Newsletters this month so far? If you missed any you can still read them here in the archive LINK. It’s not too late.

So, let me now list them and summarize them for you below. But first I have presented a very current article below from the CBI information on the strategies they have developed and have been using for these reforms. Do not take this article lightly. It is jam packed with information. Yes, there are strategic plans to get them where they want to go.

TO BE CONTINUED

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

FIREFLY: " THESE CASH DEPOSIT CENTERS ARE A START OF THE DELETION OF TH...

"THE HCL COMES TO ITS SENSES" BY FRANK26, 23 OCT

KTFA

FRANK26: "THE HCL COMES TO ITS SENSES"..............F26

Minister of Planning: The percentage of completion of numbering and inventory operations reached 96% in 15 governorates

10-20-2024

Deputy Prime Minister and Minister of Planning, Mohammed Ali Tamim, announced on Sunday that the numbering and enumeration operations are approaching their end in 15 governorates, indicating that the actual completion rate has reached more than 96%, and work continues 24 hours a day to complete this stage, which is an important and essential stage for the general population census.

This came during the Minister's chairing of the ninth session of the Ministry's Opinion Board, which was held today, Sunday. His Excellency added that the work is witnessing remarkable progress in the governorates of the Kurdistan Region, where the completion rate has reached about 65%.

Tamim said that what has been achieved so far represents a great success for the ministry, in a huge and major project such as the population census project, as actual work began last May, and the ministry was able to complete all requirements and implement all stages in record-breaking periods.

He pointed out that the situation has become reassuring in light of the great efforts made by the General Authority for Statistics and Geographic Information Systems.