More News, Rumors and Opinions Wed. Afternoon 11-20-2024
KTFA:
Clare: Al-Najjar: The Development Fund aims to mobilize Iraqi savings estimated at $70 billion
11/20/2024
London
The Executive Director of the Iraqi Development Fund, Mohammed Al-Najjar, said on Wednesday that the fund has six goals, one of which is to mobilize the savings of the Iraqi people.
Al-Najjar said during a dialogue seminar organized by the Chatham House Research Center in Britain and attended by the Al-Eqtisad News correspondent, that "the Iraqi government has begun to reform many economic laws that would regulate the lives of citizens and preserve their rights."
He added that "the Iraqi Development Fund has six goals, including mobilizing the private savings of the Iraqi people, estimated at 60-70 billion dollars."
He explained that "the development road is considered one of the most important strategic projects for Iraq, and several countries will participate in it, and it will shorten the time for transporting goods by 15 days."
Al-Najjar continued that "women in Iraq wear gold worth 18 billion dollars," noting that "Iraq needs 8,000 schools, so the Iraqi Development Fund has granted land to build schools." LINK
Frank26: "HCL BEING PREPARED!!!"........F26
Trade Bank of Iraq opens an office inside the SOMO oil company building
11/17/2024 Baghdad - INA
Today, Sunday, the Trade Bank of Iraq ( TBI ) announced the opening of an office inside the SOMO oil company building.
The bank's media advisor, Aqil Al-Shuwaili, said in a statement to the Iraqi News Agency (INA): "In cooperation with SOMO, an authorized office was opened inside the company's building to issue documentary credits to facilitate all transactions between the Oil Marketing Company " SOMO " and the bank regarding the export and import operations of all petroleum products."
He added that "this contributes to supporting the national economy and developing the energy sector, which is one of the main drivers of the Iraqi economy," noting that "these measures come within the work plan of the bank's management, represented by its chairman, Bilal Al-Hamdani, to develop banking work."
He stressed that "this will contribute to improving and developing the bank's services provided to all customers in
line with the Prime Minister's directives to develop the banking sector and improve all services."
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The census is for real. Sudani says this is a really really serious census, I want you to participate and he needed us to work with him. Sounds like it has to be tied in with legal things that need to be done and finished up before the official exchange rate rolls out. Just what we think here on the streets. FRANK: After the census I believe things will start to be revealed to you...
Mnt Goat ...the IMF fully intends to repeg the IQD to a basket of currencies once they revalue it and turn it back on FOREX (...this is called a reinstatement...). It will initially be a FREE FLOAT driven by market fluctuations however it will be monitored and my CBI contact has told me they will cap it at a level to control the initial massive swings, if needed. Then over a period, the rate is expected to settle down to its nominal rate. I am told this could be about $3.85ish. The then CBI director in 2011 Dr. Shabibi told his audience in a news media conference on the Iraqi economy that the dinar could sustain a fluctuation as high as $16 USD...I am told that the IMF will use the cap at about $9 - $11 to prevent wild swings out of control that could potentially hurt the basket.
2025. DOLLAR CUT IN HALF. MORE WAR. MORE DEBT. FORCED SUFFERING. BRIDGE TO NEW SYSTEM.
Greg Mannarino: 11-20-2024
'We've Passed the Point of No Return' - Debt Bomb Will Ignite GOLD: Clive Thompson
Commodity Culture: 11-20-2024
Clive Thompson believes the main driver for the gold price is the untenable debt and deficits in Western economies that are only set to accelerate, and he thinks this debt bomb will ignite the gold price higher once it eventually explodes. Clive also provides his outlook for silver, explains where he's seeing value in markets today, and much more.