"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 29 MARCH

  Frank26  

 [Iraq boots-on-the-ground report]

   FIREFLY: The foreign minister already in USA is a prelude to Sudani grand stand that's coming April 1st, our new fiscal year.   

FRANK:   So much is now pointing for your 1st quarter.  April the 1st or maybe the first week of April especially with Sudani going to see the President of the United States in Washington DC on the 15th of April.  It seems to me he's going to go see the president with a new exchange rate under his belt...not the weak leadership of a program rate.

  FIREFLY: TV is say when Sudani goes to Washington.  OMG that's a long time off.  Means nothing changing until after that probably, if it does this year.  

FRANK:  I don't care if it happens on the 15th of April.  I don't care if it happens tomorrow.  I just know it's happening with all that we're seeing.  The proof is there.  There's no doubt about it.

 FIREFLY:  Tv talked about  parliament finance has been meeting...with the CBI officials talking about mechanisms to pay the salaries and all the project we have.  This is a good sign.  They are meeting right before the budget goes to parliament next week. 

 FRANK:  Firefly knows if it does go to parliament and they vote, it will expose an exchange rate.  Certainly not a program rate.

FIREFLY:  Talked to bank friend.  He told me it seems to be the quiet time but soon news on the amending budget will appear...Nothing will get done, so it's going to be soon.   The dropping of the zeros is off the exchange rate...We were told on TV that during next week the 2024 amended budget will arrive at parliament for their vote.  

 FRANK:  Stay very close to your friend because at any moment IMO I believe he'll be able to give you what you're looking for, what they promised you. 

https://dinarevaluation.blogspot.com/2024/03/iraq-boots-on-ground-rreport-by-firefly.html

Jon Dowling & Holly Celiano Current State Of Global Affairs & The RV Pre...

After It Was 63 Trillion In 2023... The 2024 Budget Deficit Will Rise To 80 Trillion Dinars, 29 MARCH

 After It Was 63 Trillion In 2023... The 2024 Budget Deficit Will Rise To 80 Trillion Dinars

Baghdad Today – Baghdad  Today, Wednesday (March 27, 2024), the Minister of Planning, Muhammad Tamim, revealed that the budget deficit has risen to 80 trillion dinars.

A statement from the office of the Chairman of the Finance Committee, received by Baghdad Today, stated that “the committee, headed by Atwan Al-Atwani, hosted today the Deputy Prime Minister and Minister of Planning, Muhammad Tamim, to discuss ways to overcome obstacles to listing and financing projects, and to discuss the reasons for the delay in sending the 2024 budget schedules to the committee.”

Al-Atwani stressed during the meeting that, “The goal of approving the tripartite budget was to give the government flexibility to implement its program.”

He pointed out, “Yesterday, in its meeting with the governors, the committee discussed simplifying the procedures for listing and financing service and strategic projects undertaken by local governments, and therefore today it is reviewing the proposals and proposals of the governors to the Minister of Planning regarding ways to overcome the obstacles to listing and financing projects.”

Al-Atwani asked the Minister of Planning about the reasons for the government’s delay in sending the 2024 budget schedules, and the latter replied, “The government committee responsible for reviewing and auditing those schedules is working to reduce the deficit of 80 trillion dinars because it is considered a large deficit.”

The Chairman of the Parliamentary Finance Committee confirmed, “The committee is looking forward to sending the 2024 budget schedules as quickly as possible, because its continued delay has greater negative repercussions on the financing and implementation of projects, in addition to its impact on the productive sectors.”

Al-Atwani revealed that "the total budget for 2024 amounted to about 228 trillion dinars."

The Minister of Planning said that his ministry relies on an advanced electronic program to fulfill the project listing requirements, and that it has come a long way in terms of simplifying procedures. LINK

"RV UPDATE" BY SANDY INGRAM, 29 MARCH

 Sandy Ingram

 We often talk about $0.10 to $0.25 to one U.S. dollar.  People get upset but that is what could happen without a reval.  And most of the [Dinar investors] would experience a six-figure profit if the currency just went up to 10 cents to 1 U.S. dollar.

A pivotal moment looms on the horizon with Iraqi Prime Minister Mohammed Shia al-Sudani slated to visit Washington DC on April 15, 2024.  President Biden is set to host this crucial meeting...It's not all about military... the meeting is also expected to tour upon Iraqi financial reforms...This is the reason this meeting is important for Iraqi dinar investors.  The US...undoubtedly has a vested interest in the successful implementation of these reforms.  

Iraqi dinar big official announcement 🔥Iraqi dinar rates going to higher

“Tough” Comments On Interest Rates Raise The Dollar Globally, 29 MARCH

 “Tough” Comments On Interest Rates Raise The Dollar Globally

Money  and business  Economy News - follow up  The dollar received a boost against its major currency counterparts, during trading today, Thursday (March 28, 2024), as a Federal Reserve official said that they are not in a rush to lower interest rates amid stubborn inflation, at a time when traders are awaiting major economic data.

Meanwhile, the yen maintained its position against the dollar after Japan's top monetary policy officials indicated on Wednesday that they were ready to intervene. The Japanese currency is still not far from the level of 152 against the dollar.

Federal Reserve Governor Christopher Waller said that the latest inflation data, which was disappointing, confirms the need for the US central bank to refrain from reducing the target interest rate in the short term.

The dollar index, which measures the performance of the US currency against major currencies, rose in the wake of Waller's comments and saw little change, settling at 104.41 points. It has increased about three percent so far this year.

Waller's speech is "evidence that the Fed is more cautious about stubborn inflation and perhaps even accelerating price growth again," said Kyle Rodda, a financial markets analyst at Capital.com.

Traders are awaiting key US inflation data to be released tomorrow, Friday, after a larger-than-expected jump in US durable goods orders on Tuesday, which has already strengthened the dollar against the yen.

The dollar reached 151.975 yen yesterday, Wednesday, its highest level against the Japanese currency since mid-1990.

But the yen rose slightly after the Japanese authorities held a meeting, on Wednesday, regarding the currency’s decline, and chief currency official Masato Kanda said that he “would not rule out taking any steps to respond to erratic movements in the foreign exchange market.”

Finance Minister Shunichi Suzuki said authorities could take "decisive steps," language he has not used since Japan's last intervention in 2022.

In one of the transactions, the yen reached 151.37 against the dollar.

As for cryptocurrencies, Bitcoin rose in the latest trading by 1.14 percent to $69,648.86.

Views 64 03/28/2024 - https://economy-news.net/content.php?id=41946

"QFS CONVERSATIONS" WITH GOLDILOCKS, 29 MARCH

 Goldilocks and Seeds of Wisdom

“Since trade values mostly increase when switching from MFN schemes to FTA schemes due to the latter’s lower tariff rates, a depreciation of the domestic currency may increase more than when only considering the above typical effect through relative price changes.”

Vietnam is currently working on a couple of finishing touches to the payment side of their new stock market upgrade. They are currently working on trading ratios that allows a Free Trade Agreement based on supply and demand moving forward.

Vietnam does have some banks that are Basel 3 compliant, and more integration inside this upgrade is still taking place. For them to trade on a supply and demand platform, they need to prove that they have enough commodities and services to support this change into a Free Trade Agreement with other countries.

This will greatly enhance their currency’s purchasing power, and the demand for it will increase its value. The implementation of this new status of Free Trade Agreements is expected to be implemented on January 1st, 2025.

Vietnam News
CEPR

Watch the water.

© Goldilocks

~~~~~~~~~

Most countries around the world are bankrupt or on the verge of being so with no ability to repay their debts. War, inflation, geopolitical issues, debt and more have created price distortions inside our International Financial System.

Part of the process of restoring credit to an individual or countries is to go through a Credit Valuation Adjustment. You are going to hear the term Credit Valuation Adjustment as we get closer to the moment when Nations around the world sign an International Treaty Agreement to make these changes.

This is part of the reason why we have Basel 3 compliance coming into play this year. These new requirements will reveal Financial flaws needing to be adjusted inside the banking system and force mergers needed to successfully put us on a path that is sustainable going forward.

Bank of England
Wikipedia

© Goldilocks