News, Rumors and Opinions Sunday Morning 12-3-2023
KTFA:
Frank26: "THE INTERNATIONAL WORLD WELCOMES THE IQD FROM THE CBI".........F26
The Governor of the Central Bank chairs the first meeting of the Iraqi National Payments Council
December 02, 2023
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired the first meeting of the Iraqi National Payments Council after its restructuring.
During the meeting, which was attended by officials from the Central Bank and representatives of the relevant ministries, the government and private banking sectors, electronic payment service providers and other actors, the objectives of the Council and the main tasks that it intends to implement were reviewed to achieve national strategies to develop the infrastructure of the financial and banking sector, advance the components of the electronic payment environment, and strengthen the pillars of inclusion.
Finance in Iraq.
The Council discussed the experiences of other countries in the field of payment systems and the mechanisms necessary to implement Iraqi Council of Ministers decisions No. 23044 and 23620 for the year 2023, as well as proposals that would contribute to the implementation of these decisions with the aim of expanding the scope of work of Iraqi electronic payment systems and linking them with various institutions, ministries and bodies and encouraging The public wants to use it and benefit from the advantages it provides.
It is noteworthy that the Iraqi National Payments Council aims to coordinate and achieve cooperation between regulatory and supervisory authorities, executive authorities and financial institutions.
Central Bank of Iraq
Information Office
2 - December 2023
************
Frank26: "JUST LIKE IRAN... SUDANI TELLS TURKEY... THESE ARE THE RULES YOU MUST FOLLOW FROM NOW ON!!!"..........F26
The Central Bank reveals the discussions of the joint Iraqi delegation in Türkiye
The discussions conducted by a joint Iraqi delegation (the government, the Central Bank, the Association of Iraqi Private Banks, and the banking sector represented by a number of private banks) were completed in Istanbul and returned to Baghdad yesterday morning. The discussions culminated in the following:
1.Agreement to make banking arrangements between Iraqi banks and their Turkish counterparts through intermediary banks to ensure trade exchange for major merchants and importers and to make and pay remittances in the euro and Turkish lira currencies.
2.Agreement on organizing the trade exchange for small merchants and retailers (dinar in exchange for euros or Turkish lira) under arrangements with combined transfers according to a commercial organization that guarantees the integrated cycle of the commercial process (depositing in dinars inside Iraq, paying in euros or lira in Turkey, shipping goods from Turkey to Iraq).
This facilitates the external transfer of thousands of Iraqi traders and spares them from working through non-fundamental means. This also comes in the context of regulating trade and external transfer in accordance with sound practices and standards and within the framework of the comprehensive plan pursued by the Central Bank to open multiple channels, outlets and currencies with the aim of maintaining the stability of the financial system and protecting it from risks. Achieving general price stability by covering imports at the official price, which is confirmed by controlling inflation rates.
Central Bank of Iraq
Information Office
2 - December 2023
****************
Courtesy of Dinar Guru https://www.dinarguru.com/
Frank26 Question: Article VIII, WTO do these matter? Yes without a doubt. WTO you notice they have not been ascended into it. Doesn't matter. Whenever they do it they'll do it but what's really important is in order to join the WTO you have to be Article VIII...All they have to do is raise the value of their currency, that's it.
Mnt Goat “The Prime Minister’s philosophy confirms that economic reform cannot be achieved without reforming the banking system, and therefore the priority begins with reforming the financial system.” ...more proof that Iraqi’s economy does not need to grow any more at this time in order to get to the value of the dinar to what we need for a fair and honest rate reflected...the “priority” begins with reforming the financial system and currency reform is a large part of the financial system. ...Iraq will never be able to raise enough the money alone to rebuild Iraq and its economy unless they first complete the needed banking and financial reforms needed to attract investors...
Rafi Farber: Silver About to Break Out of Massive 90 Year Triangle Formation Building Since 1933
Arcadia Economics: 12-3-2023
Silver appears to be on the verge breaking out of a 90-year triangle formation dating back to 1933 when silver was only 25 cents an ounce. At the same time, Newmont Mining (NEM), the largest world's largest gold miner, just saw record trading volume this month, and Newmont shares have been trading since Nixon closed the gold window.
In related news, an article posted on the New York Fed admits that reverse repos are being used to fund Treasury Bill auctions. What it failed to mention is who or what funds these auctions when the overnight reverse repo facility is exhausted, which should happen within the next 2 months or so? To find out more, click to watch the video now!
Housing Market Crash 2024 | John Rubino
Liberty and Finance: 12-2-2023
The housing market is headed toward a major crash, forecasts John Rubino
He expects many hedge funds, private equity companies, and banks are about to have to dump real-estate at losses.
Will there be bailouts this time? Rubino says there’s a good chance there won’t be. “We need companies to pay prices for bad decisions, and I think there's a decent chance in 2024 that we see some of that."
INTERVIEW TIMELINE:
0:00 Intro
1:35 Real estate collapse
7:34 Unaffordable houses
22.44 Lawlessness abounds
28:50 Fighting for freedom
35:36 United, not divided