TEXAS SNAKE
STILL HEARING BY THE 25TH.
TEXAS SNAKE
Banker advised he will call if announcement will occur within 24 hours or text me if it will be latter in the month but he is encouraged we will talk.
https://dinarevaluation.blogspot.com/2024/11/rv-update-bytexas-snake-11-nov.html
Iraq Rejects “COP29” Proposal: We Will Not Get Rid Of Fossil Fuels, As They Are The Basis Of Our Economy
Energy Economy News – Baghdad The head of the Parliamentary Health Committee, Majid Shankali, confirmed that Iraq rejects the idea of getting rid of fossil fuels, which was a prominent title at the “COP29” climate conference, explaining that the Iraqi economy depends mainly on fossil fuels, pointing to Iraq’s strong role in the conference, especially since it will chair the “G7 Plus” summit with China in the next session.
Global voices and demands are rising to gradually eliminate fossil fuel operations and oil and gas projects in oil-producing countries, due to the pollution they cause, and replace them with alternative energy sources such as (solar - wind - water - thermal)
In a statement to the official agency, followed by "Al-Iqtisad News", Shankali said, "The participation of the parliamentary delegation in the COP29 conference came to follow up on the work of the negotiating delegation and keep pace with the latest developments in the conference, "
indicating that "the climate conference focused on important issues, most notably the gradual elimination of fossil fuels, which is one of the main pillars of the Iraqi economy, which we completely reject."
Shankali continued, “There is a proposal from Azerbaijan to support developing countries by oil countries, but this proposal was rejected, because most of the oil-producing countries are themselves developing countries.”
He pointed out that "the active political presence of the President of the Republic, undersecretaries of ministries and executive bodies, in addition to the legislative support of the Iraqi Parliament, strengthens Iraq's position in these conferences, especially since it will assume the presidency of the G7 Plus summit with China in the next session." https://economy-news.net/content.php?id=49961
Wolverine
Delete Zeros And Evaluate The Dinar
Economic 11/18/2024 In a newspaper column a while ago, we explained the concept of deleting zeros, and today we are talking about the concept of currency revaluation, which means a calculated upward adjustment of a country’s official exchange rate relative to a chosen baseline, which can include (wage rates, the price of gold, or a specific foreign currency), and revaluation is the opposite of devaluation.
In a fixed exchange rate system (the system followed by Iraq), only a decision from the state (the central bank) can change the official value of the currency, and developing economies are likely to use a fixed exchange rate system in order to limit speculation and provide a stable monetary system in the country.
In a flexible exchange rate system, revaluation occurs on a regular basis, as evidenced by the noticeable fluctuations in the foreign exchange market and the associated exchange rates.
For example, the United States maintained a fixed exchange rate until 1973, when President Richard Nixon decided to abandon the gold standard and switch to a flexible exchange rate system.
As for China, despite having an advanced economy, its currency remained fixed until 1994, before the Chinese government revalued its currency in 2005, which was linked to the US dollar. After the revaluation, it was linked to a basket of global currencies.
The decision to revalue a domestic currency affects the economy as a whole, as it affects both the currency being examined and the valuation of assets held by foreign companies in that particular currency.
Since revaluation has the potential to change the exchange rate between two countries and their currencies, the book values of assets held abroad may have to be adjusted to reflect the effect of the change in the exchange rate.
For example, suppose a foreign government has set 10 units of its currency to equal one US dollar. To revalue its currency, the government might change the rate to 5 units per dollar, making its currency twice as expensive when valued in US dollars as it was before.
If the above-mentioned currency revaluation occurs, any assets held by a U.S. corporation in the foreign economy must be revalued.
If the value of the asset held in a foreign currency was previously valued at $100,000 based on the old exchange rate, the revaluation requires a change of $200,000.
This change reflects the new value of the foreign asset in the local currency by adjusting the revaluation of the relevant currency.
Another example is what the Iraqi government did in 2023 when it raised the value of the Iraqi dinar from 1450 dinars/dollar to 1300 dinars/dollar. https://alsabaah.iq/106053-.html
Ariel: We are but a hair’s away from cashing in.
𝙃𝙤𝙩 𝙊𝙛𝙛 𝙏𝙝𝙚 𝙋𝙧𝙚𝙨𝙨…
What did I tell you all?
Did you order Iranian Rials like I suggest?
Did you buy Vietnam Dong like I suggested?
Did you buy Zimbabwe notes like I suggested?
Because you are but a hair’s away from cashing in.
Many people are going to have a hard time sleeping tonight.
Because regarding if it pops up tomorrow you will not know how to get comfortable simply because it looks like it’s already on there based on the chart below.
People if this chart doesn’t convince you that things are moving I do not know what will. Because as I said before the Dinar goes 1st. Once that is released its game on for the rest of the 1st basket currencies. This shouldn’t even be on here.