The Federal Court Rejects The Lawsuit To Disburse Basra’s Accumulated Petrodollar Funds
Economy News – Baghdad The Federal Supreme Court rejected a lawsuit filed by Representative Mustafa Jabbar Sanad against the Minister of Finance, as he demanded the funds accumulated for Basra Governorate from the Petrodollar Law.
The court said that the lawsuit must be dismissed because the plaintiff’s interest condition is not met and because it does not fall within its jurisdiction.
The court indicated in the dismissal decision that “the jurisdiction of the Federal Court under Paragraph (Third) of Article (93) of the Constitution is limited to what is issued by the federal authorities and independent bodies and does not extend to ministries and other bodies. Therefore, the lawsuit must be dismissed by this body as well for lack of jurisdiction.” .
The petrodollar is the oil-producing governorate receiving a percentage of its sales, estimated at $5 for every barrel of oil produced there and $5 for every barrel of crude oil refined in its refineries.
In January we'll be using the dinar only. 1st of January is going to be a big step. A big change...Wait for the first of January, that's when things are going to start happening. You might see the deleting of the zeros or the new currency in January... Somewhere or somehow or some when it's going to be 1 to 1.
It's a very good video [Central Bank Iraqi's dinar propaganda/advertisement video that came out Friday - you can see it below Guru Frank26's 12-8-2023 post] . I like it a lot...It's an advertisement for Iraq to use only Iraqi dinars. That's very very very good thing. That's big big step. Big step we taken. It's not bad...I said it before and I'm repeating it, in January things it's going to change big, big, big, time. Big time. If I was you, I'll be ready.
They are start to prepare people to use only the dinar and they start advertisement...they call it education, I call it advertisement. Things are going good...somewhere 1 to 1.
[See the Iraqi dinar advertisement video under Guru Frank26's post below]
Question "Can you talk about the steps involved in cashing in dinars?" When exchange time comes we're going to have to go to three things - Redemption center, 1-800# or the army base. :)
[Nader is clearly joking about these three things]...People are telling them that. That's wrong. The only thing you can do to change your money, walk to your bank, if they accept it, or go through exchange offices. There's no redemption centers, no army bases, there is no 1-800#s, nothing that way.
[NOTE: Gurus disagree on the potential exchange procedures. Stay tuned to Dinar Guru as this important subject unfolds and become clear.]
They are start to prepare people to use only the dinar and they start advertisement...they call it education, I call it advertisement. Things are going good...somewhere 1 to 1. [See the Iraqi dinar advertisement video under Guru Frank26's post below]
NDA Bombshell: Humanitarians Forced to Sign at Redemption Center Appointments!
Powerful organizations and institutions are actively attempting to censor Gazetteller.com. We strongly encourage you to share this news with the world.
The recent mandate for Humanitarians to sign Non-Disclosure Agreements (NDAs) at their Redemption Center appointments is not just a procedural formality; it’s a seismic shift in the landscape of global financial systems and humanitarian efforts. This development within the Quantum Financial System (QFS) is more than a mere footnote in financial history; it’s a thunderous declaration that the rules of the game have fundamentally changed.
For those stepping into this brave new world of humanitarian projects, the stakes have never been higher. The signing of an NDA is a solemn commitment to secrecy and discretion, a binding agreement that sets the tone for the entire endeavor. This isn’t just about keeping financial details under wraps; it’s about safeguarding a revolutionary approach to global philanthropy.
The implications of this requirement are profound and far-reaching. Participants are warned in no uncertain terms: loose lips not only sink ships, they could potentially unravel the fabric of this groundbreaking initiative. Talking to a lawyer is permissible, but beyond that, discretion is the order of the day. Bragging to neighbors or discussing details with family members is strictly prohibited. This level of secrecy isn’t just advised; it’s mandated, underscoring the gravity of what’s at stake.
The QFS, a system that remains enigmatic to many, represents a radical departure from traditional financial models. It’s a system that promises to overhaul the way humanitarian aid is distributed and managed. The introduction of NDAs into this equation is a clear signal that the QFS is not just a financial platform; it’s a movement, one that demands the utmost confidentiality and commitment from its participants.
The waiting period of at least 90 days before initiating humanitarian projects is a critical juncture. This isn’t idle time; it’s a crucial phase for planning, strategizing, and internal preparation. For many Humanitarians, this is also a time to stabilize their personal circumstances, as many find themselves in less than ideal living situations. This waiting period is a strategic pause, ensuring that participants are not just ready financially, but also mentally and emotionally for the tasks ahead.
The consequences of breaking the NDA are severe and unequivocal. The forfeiture of humanitarian funds is not just a penalty; it’s a stark reminder of the trust and responsibility bestowed upon each participant. This strict stance is a testament to the seriousness with which the QFS and its affiliates approach the distribution and management of these funds.
The role of the Military Alliance in this process adds a layer of intrigue and complexity. Their involvement in assisting with the packaging of Humanitarian Project requests suggests a coordinated, strategic approach to global rebuilding efforts. This partnership between financial and military entities hints at a larger, more comprehensive vision for global reconstruction and renewal.
The origin of the funds, described as coming from nefarious sources but repurposed for benevolent ends, adds a dramatic and almost poetic dimension to the narrative. It’s a story of transformation and redemption, of converting ill-gotten gains into forces for good. This repurposing of funds is a powerful statement about the potential for change and the ability to turn negative origins into positive outcomes.
Participants are advised to approach their projects with caution, understanding the immense commitment and passion required. This is not just a financial venture; it’s a calling, a mission for those truly dedicated to making a tangible difference in the world.
The introduction of Med Beds for the health recovery of participants and their dependents brings a futuristic, almost sci-fi element to the story. It suggests a convergence of advanced technology and humanitarian efforts, painting a picture of a future where health and wellness are integral to humanitarian work.
In summary, the requirement of NDAs for participation in the QFS and associated Humanitarian Projects is a pivotal development in the world of finance and philanthropy. It’s a bold move that demands the highest level of discretion and dedication from its participants.
This development is not merely about financial transactions; it’s about being part of a revolutionary movement that seeks to redefine the very essence of humanitarian aid and global financial systems.
The rules are strict, the expectations immense, and the journey ahead is as daunting as it is exhilarating. This is a narrative of transformation, secrecy, and unwavering commitment to a cause that goes beyond mere monetary gain.
Shafaq News/ In Iraq’s southern city of Basra, Al-Harith Hassan has been struggling to withdraw his salary in dollars for months as the government tries to curb the country’s addiction to US currency.
“When we go to withdraw our salary, they only give us a fraction of it, in instalments,” said Hassan, who is paid in dollars for his oil field logistics job.
Oil-rich Iraq is hardly short of dollars -- it has foreign currency reserves of more than $100 billion (93 billion euros).
But in its fight against a booming currency black market, Baghdad has imposed ever-tighter restrictions on the use of American bucks.
For people like Hassan, this can mean a severe cut in his earnings. He used to withdraw his money and change it at semi-tolerated exchange shops for rates up to 1,600 dinars per dollar.
But increasingly, he says he can only withdraw his cash in dinars at the official rate of 1,320 dinars per dollar. The banks and central bank have traded blame for who is imposing the new restrictions.
“This is a problem. It means that our salary is losing 20 percent of its value,” said Hassan.
More restrictions are coming as the government tries to stop dollars dominating the economy.
From January, Iraq’s central bank will require every commercial transaction to be made in dinars. Existing US currency deposits will still be accessible in dollars, but new money wired from abroad will only be available in dinars, at the official rate.
‘Illicit trade’
One of the main factors feeding the demand for foreign currencies in Iraq is “the smuggling of US dollars to countries and entities facing US sanctions, including Iran and Syria,” said Hayder al-Shakeri, a researcher at the Chatham House think-tank.
Shakeri also noted the “illicit trade” of certain highly taxed goods, such as cigarettes.
Prime Minister Mohamed Shia al-Sudani acknowledged in September that sanctions preventing dollar transfers to Iranian banks had driven Iraqi traders to the black market.
Iraq and Iran’s central banks were working on a mechanism to regulate such trading, he said.
In late November, the government announced steps to encourage importers of goods like cigarettes, cars, gold, and mobile phones to use official channels to obtain dollars.
And, at least officially, the Hawala over-the-counter money transfer system, no longer transfers money in dollars.
‘Monetary sovereignty’
A year ago, Iraq adopted the international electronic transfer system known as SWIFT in order to monitor dollar usage, help tackle money laundering and ensure the respect of international sanctions.
In February, the prime minister said the new regulations had cut foreign currency trades from around $200-300 million per day to $30-$50 million.
“We are consolidating our monetary sovereignty,” Mudher Salih, financial policy adviser to the prime minister said.
“We cannot accept dealing with two currencies within the national economy,” he told AFP.
Seeking to stave off inflation, the government allows importers to obtain dollars at the official rate in key sectors like food, medicine, and construction.
And it is encouraging banks and importers to favour alternative currencies like the euro, Emirati dirham, and Chinese yuan, to reduce dollar demand.
For now, the gap between the official and unofficial dollar rates is still causing headaches for authorities.
Police recently caught several people at Baghdad airport as they were planning to travel with dozens of debit cards and use them abroad to withdraw thousands of dollars at the official rate, which they could sell for a profit on the Iraqi parallel market.
Trade digitalization will boost Vietnam’s connection on the global stage
“Digitalization offers opportunities for a country to engage in international trade, benefiting micro, small, and medium-sized enterprises, although there will be regulatory challenges, according to HSBC.”
Vietnam is finishing up their version of the QFS system to be interfaced with the overall system this month as their assets are supposed to be tokenized as of yesterday.
Vietnam already has Basel 3 compliance to support their markets through a banking system fully compliant in commodity backing.
These new opportunities and new demands to move into the international world will begin creating price pressures on their currency going forward.
