Saturday, November 18, 2023
The size of debt and banking crises, 18 NOV
The size of debt and banking crises
The size of the global gross domestic product exceeds the $100 trillion mark, according to estimates by global financial institutions.
In contrast, the size of public debt exceeds or is equivalent to three times the size of the global economy, and here lies the danger.
Among the risks of public debt is the global financial crises that countries of the world go through at different time periods, and
their effects are greatly reflected in the countries’ economies, even in varying proportions, according to the strength of each country’s economy, which is measured by the size of each country’s domestic product and the extent of each country’s ability to bear the burdens.
These crises, and I mean financial crises, therefore their risks cannot be underestimated.
According to the above, the basic rule for financing in financial crises is to adopt the interest rate imposed and controlled by central banks in accordance with their plans to address impermissible inflation with the aim of avoiding the collapse of the value of their currencies and achieving market balance.
At the peak of the economic contraction phase within the economic cycle that the world's economies periodically go through, central banks reduce interest rates with the aim of providing financial leverage capable of reviving their countries' economies, thus providing financial abundance to meet market needs.
This method followed by central banks is called (monetary easing).
Here, banks are encouraged, as a result of lowering interest rates, to raise the ceiling on their credit to the public and expand their acceptance of deposits at low interest rates.
This encourages borrowers to raise consumption, so demand increases and supply for goods and services decreases, prompting an increase in prices, which is one of the most important indicators of impermissible inflation.
Central banks are forced to address this phenomenon, I mean inflation, by raising the interest rate, which is called a policy
(Monetary tightening)
This measure, in turn, prompts depositors to withdraw their deposits from banks to benefit from the interest difference.
This causes the banks to lose, and they are forced to sell their bonds and sometimes their assets to meet the binding demands of depositors.
This is the main reason for the collapse of many banks in the world,
but some countries protect them from collapse through emergency lending support, and
this is what happened with a number of American banks recently.
From here we discover the extent of the damage and the painful effects of debts and their risks on banks.
This is because deposits in banks are like debts to the account of depositors who make a single donation to withdraw their deposits due to raising the interest rate, as well as in financial crises and when the exchange rate fluctuates in fragile economies.
Economists attribute the reason for the collapse of banks to the fact that they engage in debt trading and not capital development, and this phenomenon is mostly diagnosed in commercial banks.
It is clear from the above that Islamic banks develop capital through the process of sharing profits and losses,
so the effects of crises on them are lighter and less, and
their resistance to staying in the market is higher. This analysis applies in many developed countries.
Perhaps one of the reasons for the collapse of banks is the failure to enact sufficient legislation to protect the banking system, and banks do not have the ability to manage risks and service debt.
In Iraq, the situation is different, as
there is a need to reconsider the Banking Law No. 94 of 2004, given that nearly two decades have passed since a bitter experience that needs a legal amendment that is in the interest of protecting the banking sector, especially the rights of the minority and the rights of depositors.
Although there are preventive measures in the banking law, such as guardianship and bank lending, the applications and rescue packages are still really weak.
Therefore, our call to reconsider the banking law has become urgent.
https://alsabaah.iq/87154-.html
"Financial Processors ", 18 NOV
Financial Processors
Economic 11/15/2023 Muhammad Sharif Abu Maysam The basis for the existence of a speculative market at the exchange rate is the increased demand for the dollar to finance foreign trade due to the insufficient local production of goods to cover the minimum local need,
so that importing is the only way to meet the increasing demand due to the high rate of per capita income in light of an unprecedented consumption pattern.
In addition to what has resulted and is being produced by the stifling blockade imposed by the United States on neighboring Syria and Iran, of an increasing demand for the dollar in the Iraqi market by the merchants of these two countries.
in addition to what is resulting from the phase of adaptation to the introduction of technologies and automation of processes in financial and banking work, and the resulting confusions.
Pressured by the requirements of the US Federal Reserve and the US Treasury Department, which turned into practical obligations regarding the use of electronic platforms and systems in exchanges and trades, and
thus the requirement to leave traditional work methods, with the aim of establishing an investment environment that suits the movement of globalization capital, and in which the banking system is at the level of the global banking industry.
Accordingly, addressing the structural imbalances in the local market is a priority for any objective treatment with the aim of creating a balance between the local demand for goods and the ability of the productive sectors to respond,
which contributes to putting an end to imports and reliance on local production in order to preserve monetary stability and stop the bleeding of hard currency under the pretext of financing foreign trade.
On the one hand, on the other hand, confronting the illegal demand for hard currency in local markets and limiting its smuggling by merchants in some neighboring countries, in addition to the need for those who refuse to deal with electronic payment methods from local merchants, “as in cases of tax evasion and other things,” will gradually recede with the entry into force. Technologies and means of electronic payment in all cases of electronic exchanges and trades in the financial system,
starting with the applications and practices of the tax system and customs tariffs, passing through exchange methods, all the way to the existence of a parallel market for exchange rates capable of financing its exchanges without relying on a single source.
While the state of harmony and cooperation between local governments and the central government will contribute to putting an end to cases of currency smuggling whenever these authorities are able to address the weaknesses and imbalances resulting from the accumulations of previous years, which witnessed an extension of the open import policies and market chaos.https://alsabaah.iq/87321-.html
JUDY NOTES, 18 NOV
Global Currency Reset:
- Fri. 17 Nov. TNT: Everything is Super Fantastic. In Iraq, they expected the new rate would go on Forex today Fri. 17 Nov, and it still could after the markets close, by tomorrow morning Sat. 18 Nov. The banks have been told they’re not working this weekend, but have been told the exchanges will begin before Thanksgiving nextThurs. 23 Nov. The 3-letter agencies are on 12-hour shifts at the highest alert possible, ready for it to go any minute. They’re saying it’s happening right now, moving through the system, and that they’re just waiting for it to get to them to push the go button. …A good source says, “All is ready, just waiting on the go signal. All systems are ready. No hold ups in sight. Agency folks are on high alert.”
- Thurs. 16 Nov. Bruce: Bank Compliance with the ISO20022 was activated on Wed. 15 Nov. and will be implemented at ten min to midnight on Sat. night 18 Nov. By Sun. 19 Nov. midnight it will be fully implemented. All new currency rates will be on the Forex on Sun. 19 Nov. The new Iraqi Dinar rate will be published in their Gazette on Fri. 17 Nov. or Sat. 18 Nov. Tier4b could get notified tomorrow Fri. 17 Nov. and will certainly be notified by Mon. 20 Nov. at the very latest. Exchanges will go through the end of the month and forward to Fri. 1 Dec. There are a number of Admiral Groups and they have a treaty with Iraq on the Iraqi Dinar. They will be the first to have exchanges in the US. Today a high up source in Wells Fargo said that the Admirals Group will start overnight tonight or tomorrow Fri. 17 Nov. A communication that originated from Brazil said that South America will be sending out notification to their Tier 4b today Thurs. 16 Nov.
- Thurs. 16 Nov. Wolverine: The largest wealth transfer in history is about to begin! Military operation to shut down the Central Bank system! With currency resets set to begin by major banks on Sun. 19 Nov, payments for Tier4b will also be able to begin all at once. A start has been confirmed for Brazil and the US, while Colombia has already started.
- QFS Up and Running, GESARA Soon: https://beforeitsnews.com/alternative/2023/11/major-gesaraquantum-financial-system-update-gesara-soon-and-qfs-up-and-running-3802829.html
33 years later: story behind British people turned into human shields by Saddam Hussein, 18 NOV
33 years later: story behind British people turned into human shields by Saddam Hussein, 18 NOV
Shafaq News / Sky Documentaries has commissioned documentary feature, Flight 149 (w/t) from Drum Studios.
The film will explore the dramatic moment when the passengers of BA Flight 149 were taken hostage.
On 2nd August 1990, Iraq invaded Kuwait. Hours later, BA Flight 149 from London lands in Kuwait City for a scheduled stop with over 385 men, women and children on board. With Kuwait City under occupation, Saddam Hussein broadcasts to the world that the passengers of the plane are now his ‘guests’ and are not allowed to leave. They are held as human shields in military and chemical plants across Iraq in a rapidly escalating international crisis.
Over the next five months, a tense hostage story unfolds with the world watching. It coincides with a pivotal moment in geopolitical history that will change the West’s relationship with the Middle East forever. The hostages become pawns caught up with a ruthless dictator, a plane full of spies, a British government cover-up and unexpected involvement from Richard Branson.
During their time in captivity, the hostages endure near starvation, mock executions, rape and a constant fear of never making it home.
Thirty-three years later, a group of those hostages are now taking the British government and BA to court in their search for justice and the truth. Why was the plane allowed to land in the first place? What secret is the British government still determined to hide? Will they ever find closure to their horrific ordeal?
This film will feature testimony from all sides of the story – including the hostages themselves, politicians from both sides of the Atlantic and the men and women from the Kuwaiti resistance who risked their lives to hide the hostages. For the first time, we will hear from people who knew Saddam Hussein. They will offer a unique insight into the psychology of the dictator at this sliding door moment in his relationship with the West.
(Sky Documentaries)
Friday, November 17, 2023
"RV UPDATE: COLORADO BANK STORY" BY FRANK26, 18 NOV
Frank26 Question: "Has anything changed in regards to Iraq satellite banks exchanging dinars for US citizens?" No. They will follow American banking laws. They won't do anything different than any American bank is doing in American territory.
The process to exchange your dinars it's not going to be as difficult as your mind tells you right now that it's going to be.
FRANK: I've had so many bank stories in the last two weeks that it not only knocked me off my feet but I'm still floating up in cloud nine. It's no secret. What happened.
BANK STORY GUY: I live in a very small town in Western Colorado. I've been banking with the same bank for 30 year...The bank president...borders on the edge of being a very good friend...This morning I walked into the bank...and I saw him sitting in his office and...I said you know 4 or 5 years ago I started talking about the dinar and he said yeah...he had on his poker face...I said myself and my wife have X number of dinar. He said ok. I said I hear Sudani talking about a date of January 1st that you can no longer use the American dollar in Iraq.
And considering they're now talking about releasing change to the people. I said, when I first started talking to you about this the exchange rate was about 1470 roughly to 1...does it make any sense to start issuing any coinage?
He kind of grinned at me big. He said, no sir it really doesn't. I said, Tom, I'm nervous...I know what the FDIC covers and ...you know how much currency I have. Even if it goes at 1 to 1 I'm kind of spooked about how much wealth I could lose. I said...you're a small bank. They're very well known throughout the state of Colorado...but they're not a Chase or Wells Fargo. I told him I've got a Wells Fargo account and I said honestly Tom I hate that bank but push comes to shove I can transfer my funds.
What's funny all of a sudden his poker face breaks and he says when it comes time to do the exchange I'm sure we can... assist in some way. I said that's what I was hoping to hear. If and when the time comes, you and I have been friends for a long time, you know I have 100% trust in you, do I come to you to get advice on how not to lose my funds? He's says no. I'm going to set you up with a wealth manager and he immediately is typing stuff in to his computer and this is what caught me off guard, he turns around and he says you know I've seen exchanges and movement in the dinar in just the past few days...
I said I got to get to Albuquerque this afternoon...I got to get going when I get back I'll give you a call...I stood up and shook his hand I said you know what I probably won't talk to you for a while so Happy Thanksgiving to you and your family...and he said oh, we'll talk before that. FRANK: There it is!
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...