News, Rumors and Opinions Late Mon.PM/Early Tues.AM

Goldilocks and Seeds of Wisdom  Late Monday Night

Thank you R.J.

R.J.:  Good evening Dinar Recaps,

Goldilocks posted a statement tonight.

"Tomorrow is the last day of this month. March is expected to be perhaps the most exciting and the most terrifying month in the history of our lives.

I do expect to see light at the end of the tunnel and many of you I am talking to have prepared well for this moment in time.

Many of you who are reading this article have been prepared for years to meet the challenge we are facing as a Global Nation.

Please take the time to nurture those around you who may have not known or cared to know what we as a group have known would be inevitable.

March is shaping up to be a Global Birth into New Beginnings."  

© Goldilocks

https://t.me/+YU9UrHLxFbszOTJh

https://www.seedsofwisdomteam.com/goldilocks

Courtesy of Dinar Guru

Paulette  Typically, it [the budget] will go through First Reading and then go to Parliament's Finance Committee for review.  This review is often at least  2-3 weeks and often much longer.  It then comes back for Second Reading and if all agreed, it can then be passed.  If not agreed it will go out for at least three days before Third Reading and passage paragraph by paragraph with the first paragraph delineating the rate.

Militia Man  When we're talking about value we're talking about things that are determined from what?  Income streams beget value...and assets create value.  They don't want to underestimate the value and they don't want to overestimate the value.  They want it right it line with what is fair or real - Real Effective Exchange Rate is on the table...

************

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 27 Feb. 2023

Compiled Mon. 27 Feb. 2023 12:01am EST by Judy Byington

Judy Note:

The third and fourth major steps in taking down the Cabal were about to take place with the Global Currency Reset and taking control of the Internet, Social Media and MSM through the new Star Link Satellite System.

Central Banks were shutting down — bankrupted.

Old financial systems were bankrupted.

Congress, White House, IRS, Federal Reserve were shut down.

The U.S. Corporation was bankrupted.

Gold-backed currency, digital assets, QFS, Nesara Gesara was growing!

Global Currency Reset:

Sun. 26 Feb. A High Up Contact: Right now the new Quantum Financial System is operational and has successfully completed trial payment disperse. All funds were loaded into Paymaster Accounts by Thurs. 23 Feb. Beginning that same Thurs. to Fri. 23, 24 Feb. Contracts were being funded, with a completion of the release of monies scheduled by Mon. 27 Feb. Monies would then begin moving on Mon 27 or Tues. 28 Feb. AnEvent concerning the Supreme Court was expected to happen on Wed. 1 March, which would then start a Three Day Blackout (perhaps a Black Swan Event?).

Sat. 25 Feb. MarkZ: Based on the news from Iraq I am in hope that our exchanges will start sometime this upcoming week. The chatter is overwhelmingly good. Bond folks are now hearing that they will see their funding on Mon. 27 Feb.

Sat. 25 Feb. Okie (not OkieOilMan) via Twitter: On Fri. 24 Feb. mass amounts of money was moved. The new rates can come at any hour. The circumstances have been immensely enhanced in the last 48 hours. Our time is nigh, closer than what anyone may realize. Buckle up and prepare. Rates are hot and showing from the Central Banks to Corporate level, but not on bank teller screens. There is a countdown mode in progress. No one knows the rates and date of release, but this appears to be hotter than ever.

Sat. 25 Feb. X22 Report Bitcoin Gold Will Rise, Fiat Implode: https://dinarchronicles.com/2023/02/24/x22-report-w-bob-kudla-in-the-end-bitcoin-gold-will-rise-and-fiat-will-implode/

Your Financial Bible – The Quantum Financial System of NESARA/GESARA: Come back (amg-news.com) 

Read full post here:  https://dinarchronicles.com/2023/02/27/restored-republic-via-a-gcr-update-as-of-february-27-2023/

Iraqi Dinar update for 02/28/23 - Nice project in Iraq

Pimpy’s The Other Side of Things

https://www.youtube.com/watch?v=EgXaTG6VrzE

LIVE! We Have A SERIOUS Problem... Global Debt Market Becoming More Unstable.

Greg  Mannarino:  2-27-2023

https://www.youtube.com/watch?v=iwNYbN2-ek8

Tuesday Morning Iraq Economic News Highlights 2-28-23

Tuesday Morning Iraq Economic News Highlights 2-28-23

Iraq Tends To Use The Yuan In Non-Oil Foreign Trade

Markets  London  The New Arab  February 28, 2023   Iraq plans to pay for private sector imports from China in yuan (Murtaja Latif/AFP)  Iraq tends to use the Chinese yuan as an official currency in its non-oil foreign trade exchanges. The Iraqi government plans to pay for private sector imports from China in yuan in order to inject foreign currency into the financial system and help relieve pressure on the dinar , according to the US Bloomberg Agency, today, Tuesday.

Saudi Arabia and the UAE have previously taken steps to use currencies other than the dollar in non-oil transactions.

The UAE and India are working to promote non-oil trade in rupees, and Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan recently said that the kingdom is open to trade in currencies other than the dollar.

Iraq, the second largest producer in the Organization of the Petroleum Exporting Countries ( OPEC ), is intensifying its efforts to stabilize the dinar, after raising its value earlier this month.

Iraq suffered from a shortage of dollars after being subjected to US pressure to limit the flow of funds to neighboring Iran, as the Federal Reserve Board (US Central Bank) in New York imposed, last November, stricter controls on dollar transactions by Iraqi commercial banks. .

An official source in the Central Bank of Iraq, who asked not to be named, said in previous statements to Al-Araby Al-Jadeed, “The bank launched, in the past short period, a second package of reforms to push the dollar to decline closer to the official price, and focused on facilitating trade financing from China.”

Through the electronic platform, it also included the facilitation of money transfers to the United States and Europe and the facilitation of citizens transferring money through international companies (Western Union and Money Gram) and for various purposes.

This is happening at a time when countries are balancing the US currency in global trade and establishing deeper economic relations with emerging powers in Asia, and China has been pressuring the use of the yuan in transactions with major energy and commodity exporters.

While Middle Eastern economies may flirt with other currencies, according to Bloomberg, their decades-long dollar foundations are here to stay.   LINK

With Anticipation Of The Results, The Chinese Yuan Is Chasing The Dollar In Iraq's Foreign Trade

726   New dealings in Iraq's foreign trade through the use of the Chinese yuan currency to help strengthen its dinar and to relieve pressure on the dollar after the latter witnessed large booms against the Iraqi dinar in the parallel market, which caused great economic problems and revived the black market.

The Central Bank of Iraq revealed that the step of paying in Chinese yuan comes within the second package of transactions, which includes organizing foreign trade from Beijing, by providing facilities for financial transfers to the United States and Europe, using the same mechanism later.

A number of specialists in financial and economic policy agreed that the use of the Chinese yuan currency comes to relieve pressure on the dollar and to reduce the time period for cash transfers for trade purposes.

Payment Is Subject To Compliance

And the financial advisor to the Prime Minister and former deputy governor of the bank, Mazhar Muhammad Salih, said in a press interview seen by “Takadam” that “the step of paying in the yuan currency comes so that the mechanisms that are in dollars are lighter,” adding that “this does not mean that it is not subject to compliance rules, as all transactions Foreign affairs and foreign trade financing, whether in dollars, yuan or euros, are subject today to the compliance platform, in which the papers must be correct, the final beneficiary is present, and the goods enter Iraq.

He added, "This measure will not extend its application to Iraq's oil trade," explaining, "This measure covers only private sector imports."

He pointed out that "Iraq's trade with China is large, and in order not to be hindered, the Chinese yuan was adopted as an intermediary currency to finance foreign trade for the private sector only, but this does not prevent the existence of auditing, compliance and knowledge of the final beneficiary."

Throw Ashes In The Eyes

“The use of this or that currency in commercial exchanges and monetary and financial transactions is not subject to decisions from above, but rather to the facts that control the global monetary system,” says economist and oil expert Hamza Al-Jawahiri, in a press interview seen by “Takadam”.

He added, "Many countries previously announced the abandonment of the dollar and the adoption of other currencies such as the ruble and the yuan, but these decisions were in most cases sterile, and it is an attempt to sow ashes in the eyes and achieve imaginary victories. It is related to confidence in these currencies and the independence of the central banks that issue them."

He pointed out that “the adoption of the yuan in relation to foreign trade for any country means narrowing the opportunities for trade exchange to a large extent because the confidence of dealers in it at the global level is limited, while the dollar is still on the throne of monetary transactions.”

And he stressed that "most of Iraq's foreign trade takes place with China, so if Iraq succeeds in converting it into Chinese yuan, this is considered liberation from the dominance of the dollar in global trade and it will be in the interest of Iraq."

The Conversion Is Faster

The economist and professor of economics at the Iraqi University confirmed that “using the yuan currency in foreign trade with China will be subject to the same previous conditions and will not be outside the electronic platform, which is the point that some had imagined that it would not be subject to the platform,” noting that “in all cases, you will pay in dollars until you get on the other currency.

He added, "Some of the merchants called on the government to import goods from China in their local currency to facilitate the import process faster, which was approved by the Central Bank of Iraq." The American who will finance Iraqi trade through China by paying in dollars and converting it into Chinese yuan.

Al-Mashhadani explained that “this process may make merchants feel more reassured, liberated, and quick in transferring, after these transfers were made for more than 20 days, which is a long period for them, while relying on the Chinese Bank as an agent or the Asian Development Bank will shorten the period due to the presence of a financial balance in these banks.” .

Iraq witnessed a shortage of dollars after it was subjected to pressure from the United States aimed at limiting the flow of money to neighboring countries, which had been imposed financial sanctions by the United States of America, and the Federal Reserve Bank of New York last November imposed stricter controls on dollar transactions for banks.

As a result, the approval of transfers slowed down and ultimately prompted merchants to buy dollars from exchange offices, which raised the price of the dollar against the Iraqi dinar to high levels, which led to a rise in the prices of basic and food items in the local markets.

https://takadum-news.com/archives/151548

The Central Bank’s Dollar Sales Increased By 124%

Economy News-Baghdad  Today, Tuesday, a report by the Central Bank of Iraq confirmed that its sales increased by 124%, to record $233 million.

The bank's report stated, "It sold today, during a window for buying and selling US dollars, 233 million and 921 thousand and 34 dollars, an increase of 124% compared to yesterday, Monday, which amounted to 104 million, 216 thousand and 250 dollars, which the bank covered at a basic exchange rate of 1305 dinars per dollar." Dollars for documentary credits and international settlements of electronic cards, at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

He added, "Most of the dollar sales went to reinforce the balances abroad in the form of (remittances, credits) at 180 million 321 thousand and 34 dollars, while the rest of 53 million and 600 thousand dollars went in the form of cash sales.

He pointed out that the banks that bought cash dollars amounted to 15 banks, while the number of banks that met requests to strengthen balances abroad reached 23 banks, while the total number of exchange and mediation companies participating in the auction was 190 companies.

https://economy-news.net/content.php?id=32714

A Citizen In Need Of Dollars Can Only Find It With Speculators

February 28, 2023   Baghdad / Obelisk: Iraqi citizens complain about the inconsistency of dealing in dollars through private banks, which forces them to wait for hours without a breakthrough.

The Central Bank authorized the sale of dollars to citizens at the official rate, by a number of private banks, within the monthly quota of 7 thousand and 500 dollars.

Accusations are leveled at currency dealers of acquiring citizens' shares in agreement with banks.

The exchange rates of the dollar have stabilized in the local markets. The selling prices were recorded at 152,500 dinars per 100 dollars, while the purchase prices were recorded at 152,000 dinars per 100 dollars. And the bank decided, earlier, to adjust the exchange rate of the dollar against the dinar, as the price of buying a dollar from the Ministry of Finance reached 1,300 dinars per dollar and sold it at 1,310 dinars per dollar to banks through the electronic platform, and it is sold from banks to the final beneficiary at a price of 1320.

Speculators are active through the black market for the dollar, which has kept the exchange rate of the dollar high in the parallel market, with a difference of up to 200 dinars from the official rate.

The bank launched a second package of reforms to push the dollar to decline closer to the official rate, and focused on facilitating trade financing from China through the electronic platform, as well as facilitating money transfers to the United States and Europe, as well as facilitating citizens’ transfer of funds through international companies (Western Union and Money Gram). And for multiple purposes.

However, banks complain about the difficulty of obtaining dollars, and the delay in disbursing funds, which reaches a period ranging from 10 to 14 days from the date of submission of the request, and in limited quantities that do not exceed 100 thousand dollars per request and do not exceed 200 thousand dollars per month and do not cover the market need.

The economic advisor, Ziyad Al-Hashemi, expects that if banks, companies, and merchants fail to adapt to the requirements of external transfer controls, the dollar exchange rate will continue to rise, indicating that the continued support of the dinar from falling costs the Iraqi treasury millions of dollars per month.

Journalist Ali Al-Azzawi believes that the Iraqi government must provide teams and committees to follow up the exchange rate of the dollar in private and governmental banks and monitor merchants and market owners who exploit this situation under the pretext of the rise of the dollar, calling for strict penalties to control the economic situation in markets and banks.

Activist Aziz talks about private banks that have fake companies that withdraw the dollar from the currency auction, go to the black market, and flee outside Iraq under the pretext of importing from fake companies that do not exist.

The continued work of speculators leads to confusion in the market, in addition to the underdevelopment of monetary instruments in Iraq, as the interest rate was not well invested, and the bonds offered are also ineffective, and even compulsory saving is not considered an appropriate option at the present time as a result of the problems arising due to a “living crisis” caused by On the mismanagement that accompanied the process of changing the previous exchange rate, which led to the citizen losing about 50% of his real income, according to the economist, Dr. About 77% of the total currency issued, pointing out that this matter needs real education and hard work by banks.

https://almasalah.com/archives/43824

Are Americans Keeping Too Little Cash in Their Checking and Savings Accounts?

Are Americans Keeping Too Little Cash in Their Checking and Savings Accounts?

Casey Bond   Monday, February 27, 2023

Choosing the right bank account is an important decision, as it can impact how easily you’re able to manage your daily finances. But you’ll also have to decide how much to keep in each account. Let’s explore some popular banking strategies to make sure you’re doing it correctly.

Which Bank Account, and for What?

Derek Ripp, a CFP and partner at Austin Wealth Management, suggests structuring your cash into three groups:

1. Routine, Recurring Expenses

These are the predictable bills that come in every month. Since you’ll need to access this money often, it’s a good idea to keep it in a checking account. A new GOBankingRates survey found that 90% of Americans have a checking account that they currently use. This type of account allows an unlimited number of withdrawals. Some offer higher interest rates, though you won’t (and shouldn’t) keep enough money on deposit to earn any significant returns.

Start by figuring out the lowest amount of money you need to cover your monthly expenses, then make sure you maintain at least that balance in your checking account at the start of each month. “The amount you hold here is up to you,” Ripp said. “Some people keep the bare minimum and others prefer more of a cushion.”

In the GOBankingRates survey, researchers discovered 37% of Americans have $100 or less in their checking account and 19% have $100 to $500 in their account to cover expenses. It’s likely many people spend more than $500 a month, so they should really be trying to up that account a little in order to always be able to cover their monthly expenses without needing to rely on a credit card or some other form of payment.

It’s also good to keep in mind that if you don’t keep enough money in your account, you could get hit with overdraft fees, which average a hefty $29.50, according to Statista.

So, be sure to monitor the balance regularly. Fortunately, most banks allow you to set up email and text alerts that notify you when the balance drops below a certain threshold.

2. Larger, Planned Expenses

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/much-money-keep-type-banking-132545262.html

KTFA Monday Night CC "We March Into March" 2-27-2023

KTFA

Monday Night Conference Call

Frank26: 2-27-23……WE MARCH INTO MARCH

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=oioS2nG_N9w

Iraqi News Highlights Monday Evening 2-27-23

Iraqi News Highlights Monday Evening 2-27-23

Tlm724 Administrator Bondlady’s Corner

The Minister Of Finance Directed To Increase The Number Of US Dollar Exchange Outlets For Citizens At The Official Rate

Political | 03:26 - 02/27/2023   Baghdad - Mawazine News   Finance Minister Taif Sami directed, on Monday, to increase the number of outlets selling dollars to citizens at the official rate.

Sami said, in a statement issued during her visit to Al-Rafidain and Al-Rasheed Banks, that "projects to modernize banking systems must be completed and advanced methods must be adopted to raise the level of services for the two banks, especially with regard to point-of-sale systems and the facilities that the Ministry of Finance is working to provide within the framework of generalizing the experience." as one of the main pillars of modern banking systems.

And she emphasized "to secure all the requirements for completing the stages of the comprehensive banking system project in agreement with the executing company (Ernst & Young) in terms of securing databases and servers, in addition to agreeing on a contract for maintenance, operation, training and all procedures to ensure the success of the project,"

noting "the importance of completing the conditions for adopting the system Modernizing the IFMIS public financial management with the two banks, which in turn will provide a secure and integrated information environment for financial management operations in a way that allows safe transmission of information between ministries, government departments, banks and financial institutions.

And Sami directed to "increase the number of outlets selling US dollars to citizens at the official rate fixed by the Central Bank, through branches spread in Baghdad and the provinces, to ensure smooth access to foreign currency and reduce the momentum and delays resulting therefrom."

The visit of the Minister of Finance included touring the corridors and departments of the two banks, and she listened to a group of employees and auditors.

https://www.mawazin.net/Details.aspx?jimare=220470

Iraq Achieved Oil Revenues Of More Than 7 Billion Dinars During The Past Month

Political | 03:42 - 02/27/2023   Baghdad - Mawazine News  The Oil Ministry announced, on Monday, that last month's revenues amounted to more than $7 billion.

The ministry stated in a statement, which Mawazine News received a copy of, that "the total oil exports and revenues achieved for the month of January, and according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO), the amount of exports of crude oil amounted to (101) million and ( 245 thousand and (95) barrels, with revenues amounting to (7) billion and (663) million and (788) thousand dollars.

She added, "The total exported quantities of crude oil for the month of January from the oil fields in central and southern Iraq amounted to (98) million and (460) thousand and (50) barrels, while the exported quantities of Kirkuk oil through the port of Ceyhan were (2) One million (475) thousand and (516) barrels, and the average price per barrel amounted to (75,695) dollars.

And she indicated, "The exported quantities have been loaded by (36) international companies of several nationalities, from the ports of Basra, Khor Al-Zubayr, mono-buoys on the Gulf, and the Turkish port of Ceyhan." Ended 29 / h   https://www.mawazin.net/Details.aspx?jimare=220473

Governor Of The Central Bank: We Seek To Make A Quantum Leap In The Field Of Financial Technology

Economie| 03:53 - 02/27/2023  Baghdad - Mawazine News  The Governor of the Central Bank, Ali Al-Alaq, affirmed, on Monday, the endeavor to make a quantum leap in the field of financial technology.

The bank stated, in a statement that Mawazine News received a copy of, that "the Governor of the Central Bank, Ali Mohsen Ismail, received, today, the regional head of the global "Visa" company, Andrew Tory and his accompanying delegation."

He added, "The support provided by Visa to regulate the market and increase the acceptance of electronic collection was discussed, in support of the government's directions and the decisions it took in activating electronic payment through the use of the technology provided by the company, as well as improving the regulations and instructions for digital financial services."

Al-Alaq stressed that "the Central Bank of Iraq is supportive in its steps to expand the use of the latest digital technologies in the banking sector and enhance financial inclusion in Iraq," noting that "the Central Bank of Iraq seeks to make a quantum leap in the field of financial technology in the Iraqi banking sector by keeping pace with the latest global technologies." Ended 29 / h

https://www.mawazin.net/Details.aspx?jimare=220476

The Secretary-General Of The United Nations Visits Baghdad At The End Of This Week

Political | 05:09 - 02/27/2023  Baghdad - Mawazine News  The Secretary-General of the United Nations, Antonio Guterres, will visit Iraq this weekend on an official visit.

A government source said, in an interview with Mawazine News, that "Guterres will visit Iraq next Wednesday on an official visit that will last for several days."

He added, "The Secretary-General will meet the three presidencies in Baghdad on Wednesday and Thursday, and then he will head to the Kurdistan region."

https://www.mawazin.net/Details.aspx?jimare=220487

An Economist Warns Against Using The Yuan In Iraqi Trade With China

Monday 27 February 2023 08:39 | Economical   Number of readings: 387  Baghdad / NINA / - The expert in economic affairs, Raad Twij, warned against using the yuan currency in Iraqi trade with China.

Twigg said in a statement to the National Iraqi News Agency / NINA /:

"The use of the yuan in Iraqi trade with China means, in part, the sale of Iraqi oil in yuan, and this has caveats in making Iraqi oil revenues, under the control of the monetary policy of the Chinese Central Bank, and the possibilities of manipulation." The value of the Chinese yuan and in proportion to the interest of the Chinese economy, which may cause losses to Iraq, both in selling Iraqi oil and in the conduct of commodity trade.

Twigg called for "the use of a basket of cash from a group of international currencies that may preserve the value of the Iraqi dinar."

The Central Bank of Iraq intends to organize the financing of foreign trade from China directly in the Chinese yuan currency, in a step that is the first of its kind, as part of a package of measures aimed at facilitating access to foreign currencies. /   https://ninanews.net/Website/News/Details?key=1037006

The Governor Of The Central Bank Of Iraq Receives The Regional President Of "Viza" Global Company

February 27, 2023  His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, received today, Monday, the regional president of the global company "Viza", Mr. Andrew Toure, and his accompanying delegation.

His Excellency stressed that the Central Bank of Iraq is a supporter of its steps to expand the use of the latest digital technologies in the banking sector and enhance financial inclusion in Iraq, indicating that

the Central Bank of Iraq seeks to create a qualitative shift in the field of financial technology in the Iraqi banking sector by keeping pace with the latest global technologies.

During the meeting, the support provided by the "Viza" company to  regulate the market and  increase the acceptance of electronic collection, in support of the government's directions and the decisions it took in activating the electronic payment by using the technology provided by the company, as well as improving the regulations and instructions for digital financial services. The Central Bank of Iraq  information Office  2023/27/27  https://cbi.iq/news/view/2251

The Collapse Of The Iranian Currency Casts A Shadow On The Iraqi Sectors Economically, Agriculturally And Healthy

Reports and analyzes    Iraq  2023-02-24  Shafaq News/ The historical collapse of the Iranian currency raised 5 million per 100 dollars due to Western sanctions, questions about the impact of this collapse on the Iraqi market and economy.

Iraq is the first importer of Iranian goods and goods at about 17 billion dollars annually, according to specialists.

The Bonpest website data revealed the day before yesterday, Wednesday, that the Iranian currency fell to a record level against the US dollar and recorded 501,300 riyals.

The price of the US dollar in the Iranian free market is witnessing a record increase, with the continued turmoil and the increase in the country's isolation amid Western criticism of the strict security measures taken by Iran and its relations with Russia.

Increase export

"Iran is the first exporter of Iraq with a value of 17 billion dollars annually, and sometimes more, so a decrease in its currency helps a lot to increase its export, and a country like Iraq may increase its imports from Iran, and thus this issue is in favor of the Iranian trade balance.".

"Some countries deliberately reduce their currency to increase their exports, and Iraq imports many things from Iran, as they are nourishing the Iraqi market with food and plastic materials, building materials, and Samsik, and other daily basic consumables, and thus reducing the currency works in the interest of exporting the industry. And Iranian agriculture."

The Iranian Minister of Industry, Mines and Trade, Reda Fatmi Amin, announced on February 21 that the volume of his country's exports of goods and goods to Iraq increased by 23 percent during the first ten months of the Iranian year, which started on March 21, 2022.

Fatimi Amin said in a televised interview, that Iran's exports exceeded 50 billion dollars so far, explaining that export is important for us for several reasons, the first function of export is to provide the currency to meet the needs of import for the country and the maximum export function is to achieve international ability.

Multiple economic effects

The impact of the collapse of the Iranian currency is not limited to the Iraqi economy in terms of industrial and agricultural aspect The value of the hard currency, which is a factor brought from abroad, as well as in Lebanon and other countries.

Eid continues to Shafaq News, that  "the financial market is also open towards Iran, as well as the entry of an Iraqi coin from Iran to Iraq and the withdrawal of hard currency and its purchase from banking stores in Baghdad and a number of provinces as well as in the Kurdistan region, which means that the Iraqi financial market is invaded by networks Iranian to withdraw the hard currency from Iraq and smuggle it towards Iran illegally and legal.

The decline in the Iranian currency comes despite the recent steps taken by the regime, including the appointment of Muhammad Reda Farrazin as a new governor of the Central Bank on December 30, 2022, after the value of the local currency reached its lowest levels ever against the dollar, in the midst of constant mass protests and continuous Western sanctions.

After years of Western sanctions due to Iran's nuclear program, the riyal was circulated, at 315,000 riyals for the dollar when anti -government protests broke out in mid-September.

Tourism sector

The head of the Najaf Hotels Association, Saeb Radi, believes that the impact of the collapse of the Iranian currency on the Iranian tourist is greater than his Iraqi counterpart, and explains this by saying that

"the Iranian tourist when he comes to Iraq has to pay the costs of housing, travel and food in the Iraqi dinar or the US dollar, while the Iraqi tourist who travels To Iran, he faces the high cost of living despite the decrease in the currency."  Radi explains to Shafaq News,

"The US sanctions on Iran affected all the joints of life, and caused prices to rise, when the Iraqi tourist visits Iran and even Lebanon or Syria, because he feels high despite the decrease in their currency,

unlike the Iranian visitor when he comes to Iraq, it is It is true that he feels high, but compared to their currency, and for the dollar, it is low.

In turn, the owner of a store selling vegetables and fruits in Diwaniyah Governorate, Abu Ali, says that "the collapse of the Iranian currency affects us by increasing its export of agricultural crops to Iraq, including tomatoes, potatoes and eggplant."  Abu Ali notes during his talk to Shafaq News, that

"the citizen prefers the imported goods for the cheap price compared to the local crop, and  therefore Iran is the winner at the expense of our local merchandise,  so I demand - especially during this period - to limit the import rate from neighboring countries, especially From Iran, so that our local product is not harmed by this import."   https://shafaq.com/ar/تقارير-وتحليلات/انهيار-العملة-الايرانية-يلقي-بظلاله-على-القطاعات-العراقية-اقتصاديا-وزراعيا-وصحيا

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Monday "Vietnam News" Posted by Henig at KTFA 2-27-2023

KTFA:  Vietnam

Henig:  Vietnamese banking brands climb in value

February, 27/2023 - 09:18

Vietnamese banks showed great performance in 2022, consolidated by a credit growth rate of nearly 13 per cent and an economic growth rate of 8 per cent, the highest in the last 25 years.

HÀ NỘI — Vietnamese banking brands are riding high with a growth of 31.3 per cent in brand value in 2023, according to Brand Finance Banking 500 Report.

Almost all the 12 Vietnamese banks featured in the report have climbed in their global rankings. However, Agribank – the second most valuable brand in Việt Nam – runs counter to the trend by dropping two positions. Its brand value grew by just 1.7 per cent to hit $1.4 billion. 

Meanwhile, VIB enters the top 500 most valuable banking brands for the first time, with a brand value increase of 14 per cent year-on-year, reaching $181 million.

The report said Vietnamese banks showed great performance in 2022, consolidated by a credit growth rate of nearly 13 per cent and an economic growth rate of 8 per cent, the highest in the last 25 years.

It was this strong revenue rebound and economic recovery that has given a big push to Vietnamese banking brand value. 

Alex Haigh, managing director of Brand Finance Asia Pacific, remarked that Vietnamese banks are making headway in digital banking by integrating the power of technology into their core business. 

"Vietnamese banks were finding themselves among the best performers in 2022," said Haigh. 

The director was impressed by Techcombank, the second fastest-growing brand in Việt Nam, which rose by 46.7 per cent in brand value to reach $1.5 billion. In two years, the bank moved up by 107 positions to the 163rd among the top 200 valuable banking brands in 2023. 

Thái Minh Diễm Tú, director of the Marketing Divison, Techcombank, noted that the remarkable feat of reaching $1.5 billion in brand value represents an important milestone for the bank.

It is an indication that Techcombank has achieved success in improving customer experience, moving one step closer toward its ultimate objective of "Transforming the financial sector and improving the quality of life".   

It is worth noting that the bank made it to many global podiums in 2022 for its effort in digital transformation. Notably, it was recognised as 'Best bank in Việt Nam' by Euro Money and its application Techcombank Mobile was awarded 'Most innovative mobile banking app' by Global Business Outlook.

The bank is currently the first bank in Việt Nam to be assigned a Baseline Credit Assessment score of ba2 with a stable outlook by Moody's. It also gets a rating of BB- from S&P with a similar outlook. 

By late 20222, Techcombank made a pre-tax profit of around VNĐ25.6 trillion ($1.1 billion) and secured a customer base of over 10.8 million.

— VNS    LINK

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Henig:  Bình Dương promotes cashless payment trend

February, 27/2023 - 09:04

The People's Committee of Bình Dương Province’s Dầu Tiếng District plans to establish a pilot project that uses cashless payments at traditional markets, grocery stores and other businesses.

BÌNH DƯƠNG — The People's Committee of Bình Dương Province’s Dầu Tiếng District plans to establish a pilot project that uses cashless payments at traditional markets, grocery stores and other businesses.

Dầu Tiếng is located at between HCM City and the provinces of Tây Ninh and Bình Phước and has Dầu Tiếng Lake, a place that attracts many tourists.

The plan of Dầu Tiếng District aims to promote the implementation of digital transformation and digital payment, and promote local businesses and enterprises to use digital platforms to make non-cash payments, which would provide convenience in payment for tourists.

Non-cash payment methods include QR code, internet Banking, Mobile Web Payment and cards.

By the end of 2022, Bình Dương strived to achieve 50 per cent of schools, educational institutions, hospitals and medical facilities using non-cash payment methods.

Up to now, Bình Dương is one of the localities where consumers can use modern payment methods to pay for online transactions as well as at stores, schools, hospitals, administrative services and shopping centers.

Cashless payment and transaction channels are increasingly popular in Bình Dương, with commercial banks, e-wallets and fintech companies promoting the application of technology for online payments.

Many customers now choose cashless payments, the most popular being a payment card, followed by scanning a QR code and transferring money.

Card payment sales at many goods and service suppliers have also increased significantly. Commercial banks and e-wallet companies in Bình Dương said that cashless transactions are even more popular now than during the COVID-19 pandemic.

Enterprises are ready for infrastructure with low investment costs that bring convenience to people. The outstanding method that meets the above factors and is likely to explode next year is paying via QR codes.

Customers can open banking applications or e-wallets to choose a source of money to scan the code and make payments.

— VNS   LINK

****************

Henig:  Rice exporters to benefit from tight supplies, lower costs

February, 27/2023 - 08:17

Việt Nam is very likely to benefit from the upward trend in rice prices which is fueled by limited supplies and a shift away from the Indian supply.

HÀ NỘI — Decreasing input costs as Europe eases sanctions against Russia and increased fertiliser supply will benefit rice export businesses, said Vietcombank Securities Company (VCBS).

A recent report on the rice sector from VCBS showed that the global rice output is estimated at 519.7 million tonnes at the end of the 2021/2022 crop. China, India, and ASEAN are key consumption markets, while India, Việt Nam, and Thailand are the largest rice exporters.

Rice prices witnessed an uptrend in global markets last year as the Indian government's ban on rice export, floods in Pakistan, and adverse weather in China and the Philippines caused reductions in rice output in these countries.

While depleted inventories in the Philippines will result in higher imports in 2023, rice production will drop due to prolonged droughts in China and India. On the other hand, due to heavy rain in Việt Nam over the past year and gradually neutral weather in the first half of 2023, the country's rice output is forecast to be stable this year, according to the US Department of Agriculture (USDA).

Therefore, VCBS said that Việt Nam is very likely to benefit from the upward trend in rice prices which is fueled by limited supplies and a shift away from the Indian supply. 

Meanwhile, input costs are also expected to go down in 2023 as Europe eases sanctions and welcomes back Russian fertiliser exporters, increases reservations, and aggressively reduces gas consumption.  

The availability of fertiliser on a global scale is anticipated to rise, boosting rice industry profit margins.

According to VCBS, the business growth prospects of Lộc Trời Group are positive thanks to the promotion of rice exports to the European market, starting with the French market. The merger with Lộc Nhân Food also increased the company's capacity. 

With three production facilities under its control, Lộc Nhân can now dry more than 12,000 tonnes of rice per day and export 6,000 tonnes of rice a day. Its projected revenue for 2022 was close to VND8 trillion ($336.8 million).

This company also has a wide partner network. In particular, it has signed contracts to supply up to 350,000 tonnes of rice to Vinafood 1 in 2023. 

VCBS said that the food segment will be the main growth driver for Lộc Trời this year, making up for the decrease in revenue in the pesticide sector. However, it noted that the company still struggles with the plan for issuing private placement bonds and transferring from the current listing exchange - UPCoM - to the Hồ Chí Minh Stock Exchange (HoSE).

The securities firm expects that Lộc Trời's net revenue and profit after tax will grow by 28 per cent and 15 per cent year-on-year, respectively, this year to VNĐ14.9 trillion and VNĐ475 billion. The growth for 2024 is projected to advance 1 per cent in revenue but fall by 17 per cent in profit.

Meanwhile, Vietnam National Seeds Group posted a positive growth in business results in 2022, mainly boosted by the rice segment, with a gross profit margin of about 40 per cent. 

VCBS believes that the company's rice and fruit crops will grow well in the next five years. 

In the national key product development project, the government plans to increase the rate of high-tech cultivation from 70 per cent to 75 per cent, the rate of using certified varieties from 78 per cent to 90 per cent, the area of ​​fruit trees from 1,067 million ha to 1.2 million ha, and the yield from 10 tonnes/ha to 12 tonnes/ha.

Vietnam National Seeds also has an ambitious business plan to double its size in the next five years, with an annual growth rate of approximately 20 per cent/year. 

By doing so, the market share of plant varieties across all fields can rise from 21 per cent to 25 per cent of the entire nation. The market shares will rise to nearly 60 per cent of the national market, particularly for grain corn.

It is forecast that the company's net revenue and profit after tax will rise by 11 per cent and 25 per cent on-year, respectively, this year, to more than VNĐ2.09 trillion and VNĐ282 billion. 

— VNS    LINK

Henig:  Real estate market to recover by Q3: experts

February, 27/2023 - 08:59

With the Government’s drastic measures to address problems related to legal bottlenecks, lack of capital access, and challenges in corporate bonds, the real estate market is expected to recover from the third quarter, experts have said.

HCM CITY — With the Government’s drastic measures to address problems related to legal bottlenecks, lack of capital access, and challenges in corporate bonds, the real estate market is expected to recover from the third quarter, experts have said.

Experts have also called for continuing market restructuring by diversifying products, especially affordable housing, and addressing the mismatch between supply and demand.

Speaking at a talk on how to remove challenges in the real estate market last Saturday, Prof Dr Trần Đình Thiên, a member of the Prime Minister’s Economic Advisory Group, said the real estate market was facing serious problems such as a lack of capital access, credit tightening, and legal bottlenecks.

The market has faced unprecedented hurdles in the past five years with a huge inventory and a sharp drop in liquidity, he added.

It has seen a significant imbalance between supply and demand with an oversupply in the high-end segment but a shortage of affordable housing products, he said. 

Fortunately, the market would have positive signals based on Việt Nam’s economic prospects in 2023, he added.

He attributed to the promulgation and amendment of the three laws related to the real estate market, including the Law on Land, the Law on Housing, and the Law on Real Estate Business.

“The key is to remove the legal and capital bottlenecks, including real estate corporate bonds,” he noted.

It’s good that the Prime Minister has already issued four directives to remove difficulties for the economy, especially the real estate market, according to Thiên. 

Dr. Cấn Văn Lực, a member of the National Monetary and Financial Policy Advisory Council, said the Government has focused on improving mechanisms and policies (both short- and medium-term) related to the real estate market, aiming at improving the cash flow, which is important to regain the confidence in the market.

Removing roadblocks for the corporate bond market is also important to unlock capital sources, Lực said.

“The decree amending Decree 65 issued in September 2022 on corporate bonds is being urgently revised, which is expected to remove difficulties for the corporate bond market.” 

The Government has also taken measures such as rescheduling, deferring debt, tax, and land rent for real estate businesses, he added.

The Ministry of Construction has recently proposed a credit package worth around VNĐ110 trillion (US$4.6 billion) similar to the VNĐ30 trillion package implemented in the 2013-16 period to finance social housing projects and housing projects for workers, he said.

Dr. Nguyễn Văn Đính, vice chairman of the Vietnam Real Estate Association, said: “The real estate market will become warmer by the third quarter of 2023 as the government has made drastic moves to create conditions to help the market develop sustainably.”

The government has also established a working group to propose solutions with ministries and local authorities, and will review and work with localities, projects, and investors to remove bottlenecks, he added.

Speaking at a recent meeting, economist Võ Trí Thành said there remained high hopes this year for the real estate market, especially in segments of real estate tourism, industrial parks, and retail, following drastic actions of the Government. 

Once the Land Law and Law on Real Estate Business are finalised, they would provide opportunities for investors to come back to the market, he added.

Experts also recommended the Ministry of Finance implement measures to develop the corporate bond market transparently, safely and sustainably. 

The event aimed to discuss ways to address challenges in the real estate market and promote its sustainable development.

— VNS  LINK

****************

Henig:  Poland seeks to promote exports of food products to VN

February, 27/2023 - 09:05

Việt Nam and Poland both grow a lot of agricultural products, but they are complementary to each other, offering them the opportunity to tie up, a bilateral business matching heard in HCM City on February 24.

HCM CITY — Việt Nam and Poland both grow a lot of agricultural products, but they are complementary to each other, offering them the opportunity to tie up, a bilateral business matching heard in HCM City on February 24.

Nguyễn Hữu Nam, deputy director of the VCCI in HCM City, said: “Poland has high demand for Vietnamese products such as rice, basa fish, shrimp, mango, pineapple, passion fruit, coffee, and cashew, while Poland is capable of supplying Việt Nam with various EU-standard fresh and processed foods and fruits, beef, lamb, pork and others.”

Their trade and investment relations have made solid progress, but are still not commensurate with their traditional friendship and potential, partly due to the lack of information about each other's markets, he said.

Alexander Nowakowski, second secretary of Economic Affairs at the Polish embassy in Việt Nam, speaking at a press briefing held before the meeting, said after COVID many business delegations have come to each other markets to seek co-operation opportunities.

The EU-Việt Nam Free Trade Agreement has also helped boost trade ties between the two countries.

Poland’s Deputy Minister of Agriculture and Rural Development Lech Kołakowski told the press briefing that his country is one of largest producers of food products such as pork, beef, chicken, fruits and vegetables, and dairy products in Europe, and exports them to more than 200 markets.

“Poland’s foods not only have high quality, but are also are absolutely safe.”

The Government of Poland is paying great attention to expanding export portfolios to Việt Nam, he said, adding that his ministry is now working with its Vietnamese counterpart for finalising procedures to allow Polish exporters of beef, goose and duck access to the Southeast Asian country.

He hoped that beef, duck, goose meat from his country would soon be available in Việt Nam.

At a meeting with the Ministry of Agriculture and Rural Development in Hà Nội on February 23, he asked that Việt Nam should also open up Polish barley and wheat, he said.

He said the agricultural products of the two countries do not compete with each other.

Việt Nam could become an important destination for the distribution of Polish agri-food products to the Asian region, and Poland is ready to do the same for Vietnamese products headed Europe, he said.

Executives from 70 Vietnamese food companies and eight Polish companies met and exchanged information to seek business opportunities at the business matching.

— VNS    LINK

Monday Evening Chat with MarkZ 2-27-2023

Monday Evening News with MarkZ 02/20/2023

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: ​Come on Markz. give us the great news. We are patiently waiting. lol

MZ: Very quiet on the Iraqi RV front, almost like there are NDA's or something…they are talking all around things as if they have an NDA..been reaching out to individuals from the US side and they will talk about a lot of things but won’t answer questions…..several strange conversations today.  I hope this means something good

Member: I think the silence is golden

MZ: There has been no bad news. I am still hearing positive things about this week…..the goal was still to get things out the door by tomorrow night. We will see if they meet it or don’t.

MZ: We don’t know the timing…but we know it is exceptionally close.

MZ: We know Iraq is openly talking about changing the rate …and in their news….you will see there are a number of contracts that Iraq has paid to other countries in the last week or so…if you do the math….it is showing the rate of $1.66 to $1.86 or so….because of the number of dinar they gave and the dollars attached to those contracts. They paid those contracts in dinar.

MZ: I think they are already dealing at a higher rate…..it just hasn’t made it to us yet. They still have a bit of a educational process to continue for their people. They are still educating them on the loser denominations. We know they have been printed close to 5 years now. They are prepared.

Member: I hear it will happen mid march around the 15th

MZ: I am just going to throw this out there….but I think we will be done by then and the public will find out about it then.

Member: What about the bond people?

MZ: They have not been paid yet…My bond people as of this morning have been told to sit tight all week. They are being asked not to leave.

Member:  MARKZ! Do all the other countries have to jump thru as many hoops as Iraq??

Member: Since last night there have been added 1041 millionaires added to the millionaire list on the US debt clock.

Member: I wonder how many people worldwide have currency?

Member: If the Iraqi Dinar goes 1 to 1….where will we go to exchange?

Member: I have been reassured that even if it is 1 to 1 and a float….the banks will still issue instructions so we go to the proper exchange banking locations with the right equipment and people with the proper training. So it will still work almost the same. I am not worried about that at all.

Member: they say that at the end of a long bad movie has the best ending. Think we're all ready for the good part.

Member:  Definitely ready for the happy ending

Member:  ​I hope everyone has a beautiful and peaceful evening! Blessings and Prayers for everyone!

Member: You’re the best Mark. Thank you for everything you do for us!

Mod: GOOD NIGHT ALL THANKS FOR BEING HERE AND FOR YOUR POSITIVE PARTICIPATION

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

https://www.youtube.com/watch?v=66S4FZ3Xppc

Americans More Likely To Talk about Politics & Relationships than Money

Americans More Likely To Talk about Politics & Relationships than Money

A survey of 2,000 Americans found they're more likely to talk about politics and relationships with their friends than money

Tanza Loudenback Jun 16, 2021

Even after a year in which personal financial hardship dominated the national conversation, results from Insider's new Master your Money Pulse Poll suggest that Americans still aren't comfortable discussing money with friends.

When asked which topics they regularly discuss with friends, each of the following outranked the topic of money: health, sex and relationships, politics, current events, and pop culture. The survey was conducted in May 2021 and included responses from 2,130 people 18 and older.

Although there is some variation among generations, the trend tracks across all age groups — Americans are most likely to talk about current events with their friends and least likely to bring up finances.

Old Americans say the are less likely to talk about money with friends:

47% of 18-to-34 year olds regularly discuss money

38% of 35-to-54 year olds regularly discuss money

25% of 55-to-74 year olds regularly discuss money

These results underscore a longstanding taboo around discussing personal finances in America. This "society-wide gag rule" exists at varying degrees, Joe Pinsker wrote in an article for The Atlantic, particularly between socioeconomic classes, genders, and cultures.

"Many Americans do have trouble talking about money — but not all of them, not in all situations, and not for the same reasons. In this sense, the 'money taboo' is not one taboo but several, each tailored to a different social context," Pinsker wrote.

Talking about money can lead to better financial outcomes

Money is an uncomfortable, emotionally charged topic for a lot of people. If you feel like you're lacking or not saving as much as you've been told to, there may be embarrassment or shame. If you feel like you're doing well compared to what you know (or assume) of others' situations, there might be a tinge of guilt.

To continue reading, please go to the original article here:

https://www.businessinsider.com/data-americans-dont-talk-about-money-with-friends-2021-6

If There Is a Recession, It Has Already Happened

If There Is a Recession, It Has Already Happened

2023 doesn’t look nearly as bleak as consensus economic forecasts and financial news reports suggest.

Bob Diamond, Larry Kantor  Published on February 8, 2023

Arecession in 2023 seemed to be the consensus coming into the new year. That is no surprise, given that last year delivered the highest rate of inflation, the most monetary tightening in four decades, and an inverted yield curve. Strong January economic data—especially the U.S. employment report—may cause many forecasters to change their minds or delay the timing of an expected downturn to later in the year. But if this cycle ends up being designated as a recession, it’s already been underway for many months and will probably be over by the spring.

Recessions are typically generated by sharp declines in interest-rate-sensitive sectors, like housing and manufactured goods, and we have been experiencing that for quite some time.

Housing is clearly in a recession that began almost a year ago. Mortgage rates more than doubled, and home sales have declined for 11 consecutive months—amounting to a cumulative drop of nearly 40 percent. House prices and rents have been falling since last summer.

Consumer spending on goods in real (inflation-adjusted) terms peaked in mid-2021. This followed a surge when many services such as travel and dining at restaurants were off-limits, forcing people to spend a lot more time at home. The decline accelerated toward the end of last year following consumers re-engaging in those services and a huge rise in interest rates.

Retail sales in November and December plunged at a double-digit annual pace, forcing retailers to discount items to eliminate excess inventories, cancel expansion plans, and reduce their workforce.

That is what happens during recessions. The technology sector is also contracting following a COVID-induced boom in the demand for tech services like online shopping, food delivery, streaming services, and remote work and video conferencing. Just like the retail industry, tech companies expanded their capacity to an extent that turned out to be excessive.

Normally, all of that would be enough to crash the economy. But the COVID experience delivered several unusual developments that allowed the economy to hold up unusually well:

A combination of factors—including early retirements, less immigration, people either sick or caring for someone who is, and a dearth of childcare services—produced a massive shortage of labor. Job openings peaked at a record 11.5 million and there are still 11 million openings compared with less than 6 million people unemployed. That has allowed the economy to continue generating strong job growth even as labor demand weakens. As a result, household income isn’t getting hit nearly as hard as it usually does, mitigating the spread from the cyclical sectors to the rest of the economy.

Household and business balance sheets have remained relatively healthy, supported by huge income and wealth gains generated by unprecedented monetary and fiscal stimulus. Households were able to build up a huge stock of excess savings that they are still digging into to support spending. In addition, consumers and businesses did not take on excessive leverage and debt to the degree usually seen in the later stages of economic recoveries.

Energy and other commodity prices have fallen sharply, contrary to the experience during the great inflation of the 1970s and early 80s. The decline in gasoline and natural gas prices has boosted household purchasing power, while sharp drops in lumber and steel prices have helped keep production costs under control.

The path of the economy going forward will be determined largely by the future path of inflation and how central banks respond to it. Fed tightening is working: the cyclical sectors are getting clobbered, and most asset prices—including stock and bond prices—have fallen significantly. Most important, inflation has diminished at an extraordinarily rapid pace.

 To continue reading, please go to the original article here:

https://www.worth.com/if-there-is-a-recession-it-has-already-happened/

Iraqi News Highlights Monday Afternoon 2-27-23

Iraqi News Highlights Monday Afternoon 2-27-23

Tlm724 Administrator Bondlady’s Corner

Hammam Al-Shamaa Explains Why The Exchange Rate Of The Dollar Remains High

Monday 27 February 2023 11:47 | Economical Number of readings: 334  Baghdad / NINA / - The economic expert, Hammam Al-Shamaa, confirmed: The dollar exchange rate remains high due to the high prices of foreign remittances.   He told the National Iraqi News Agency / NINA /: "The difference between the official exchange rate and its price in the parallel market is due to the high prices of remittances outside Iraq due to the decrease in sales of the central bank."

Al-Shamaa added: "The decrease in sales resulted from the restrictions placed by the US Federal Reserve on the external transfer of those who are called money laundering dealers."

He explained: "The transfer rate abroad affects the parallel exchange rate, meaning that the demand for the dollar as a transfer is very high, which is reflected in the cash exchange rate at home."

The exchange rate of the dollar is still high, exceeding 150,000 dinars per hundred dollars, in several numbers, despite the government's announcement that the official exchange rate is 132,000 dinars./ Ended 3   https://ninanews.com/Website/News/Details?Key=1037112

An Economist For / Nina / Dealing With Iraqi Trade In Foreign Currencies Needs Several Important Things.. That Must Be Followed

Monday 27 February 2023 08:43 | Economical Number of readings: 309  Baghdad / NINA / - The expert in economic affairs, Safwan Qusay, confirmed that dealing with Iraqi trade in foreign currencies requires several important things that must be followed for success.

Qusay said in a statement to the Iraqi National News Agency / NINA/ That "the Central Bank of Iraq is trying to reassess all monetary policies to control the demand for the dollar in the parallel market by expanding the circle of direct dealings in international currencies, including the Chinese yuan, the European euro, the Japanese yen and the US dollar to facilitate the task of final transfer for the purposes of international trade with the currency of the supplier,

especially after that The Central Bank noted that the adoption of the fixed price of the dinar against the dollar and the increase in the value of the dollar globally caused the decline of the Chinese yuan in the parallel market, and thus traders tended to buy the yuan from the parallel market instead of the official market before the People’s Bank of China (the central) adjusted the official value of the yuan more than once.

During the previous periods, in order to preserve its value, which is linked to the migration of most world currencies towards the US dollar, especially after raising interest rates on the US dollar in addition to the Russian-Ukrainian war.

He stressed that dealing in foreign currencies needs to "control the movement of imports by dealing with regular merchants and activating the role of local banks in financial transactions through documentary credits and controlled transfers that contribute to the consolidation of the Iraqi commercial system and thus expand dealing with international brands and control the movement of imports and attract investment and stop the arrival of the dollar to the penalized countries." And Iraq will remain within the US dollar zone.

The Central Bank of Iraq intends to regulate the financing of foreign trade from China directly in the Chinese yuan currency, in a step that is the first of its kind, as part of a package of measures aimed at facilitating access to foreign currencies./ End 8 To receive more news, subscribe to our channel on

https://ninanews.com/Website/News/Details?key=1037012

The High Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Market

Monday, February 27, 2023 4:43 PM   Baghdad / The National News Center   The exchange rates of the US dollar rose against the Iraqi dinar today, Monday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 153,500 Iraqi dinars against 100 dollars, while the prices this morning were 153,200 thousand dinars against 100 dollars.”

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad have stabilized, as the selling price reached 153,500 Iraqi dinars, while the purchase prices amounted to 151,500 dinars per 100 dollars."    https://nnciraq.com/189606/

The Head Of The Association Of Private Banks Is Discussing With The Arab Monetary Fund The Promotion Of Financial Inclusion

Money and business   Economy News-Baghdad  The head of the Arab Monetary Fund, Abd al-Rahman al-Hamidi, visited the capital, Baghdad, and met with the Prime Minister, Muhammad Shia al-Sudani, the Governor of the Central Bank, Ali al-Alaq, and the head of the Iraqi Private Banks Association, Wadih al-Handal.

A statement issued by Al-Sudani's office said, "During the meeting, they discussed mechanisms for joint cooperation in the field of supporting financial and banking policies and building human capacities, and discussed Iraq's steps to engage in the international financial system, and the most prominent measures and reforms that the government is taking in the banking and financial sector, in a way that contributes to strengthening economic development in Iraq.

During Al-Hamidi's meeting with the President of the Association of Private Banks, Wadih Al-Handal, the two parties discussed the development of bilateral relations with regard to the banking sector, in addition to strengthening the concepts of financial inclusion.

Al-Hamidi said that Iraq occupies an important place in the Arab economy, and the Arab Monetary Fund is very interested in it, pointing to the indicators of the Iraqi economy growing well.

He added that Iraq continues to promote the concepts of financial inclusion, which reflects positively on the economy.   https://economy-news.net/content.php?id=32682

Economists Call For The Establishment Of The Investment Council

Money and business  Economy News – Baghdad Iraqi economists called on the Council of Ministers to establish the Investment Council headed by Prime Minister Muhammad Shia’ al-Sudani, with membership in the Investment Authority, the governor of the Central Bank and a number of competent authorities, in addition to representatives of the private sector such as the Association of Private Banks, in order to end the problems of investors and speed up their work, which is reflected positively. on the national economy.

"The government is required today to establish the Investment Council or the Reconstruction Council because it will contribute to studying the country's needs in all sectors of the economy," said Abdul Rahman al-Mashhadani, a professor of economics at the Iraqi University, to Al-Iqtisad News.

He added, "The investment board must be chaired by the prime minister, with the membership of 8 other institutions, and the role of the private sector should be effective, because it is the body responsible for implementing projects and spending money," explaining that "quotas and affiliation must be removed from this council, because it will lead to killing." Its role is similar to what happens with some councils.

He pointed out that "the executive management of the council must be of the same competence because the role of this council will be great and contribute to resolving major crises in which the Iraqi people live."

On the other hand, economist Ammar al-Rubaie told "Al-Iqtisad News" that "many countries have investment councils, with the aim of facilitating the investment environment," noting that "the private sector must have a greater number in the council than the government, because this will lead to a strong in making decisions.”

He stressed, "Many investment companies suffer from problems in their work with ministries and state departments, and thus delay their work in completing the project, which requires the establishment of a council that will solve these problems and accelerate the pace of work."

Jordan established the Investment Council headed by the Prime Minister, and includes the membership of: the Minister of Investment as Vice-Chairman, the Minister of Planning and International Cooperation, the Minister of Finance, the Minister of Industry, Trade and Supply, the Minister of Digital Economy and Entrepreneurship, the Governor of the Central Bank, the Chairman of the Board of Directors of the Jordan Chamber of Commerce, and the Chairman of the Board of Directors. Management of the Jordan Chamber of Industry, and four representatives of the private sector are: Basem Al-Salem, Majd Shweikeh, Ahmed Abu Ghazaleh, and Issam Fakhreddin.  https://economy-news.net/content.php?id=32692

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

More News, Rumors and Opinions Monday Afternoon 2-27-2023

KTFA:

Clare:  Al-Sudani and the Director of Arab Monetary discuss Iraq's involvement in the international financial system

 2/26/2023

Prime Minister Muhammad Shia Al-Sudani received today, Sunday, the Director General of the Arab Monetary Fund, Abdul Rahman Al-Hamidi

 The Prime Minister's Office said in a statement, a copy of which the Euphrates News Agency received, that "during the meeting, they discussed mechanisms for joint cooperation in the field of supporting financial and banking policies and building human capacities, and discussing Iraq's steps in engaging with the international financial system, and the most prominent measures and reforms that the government is taking in this field."

The banking and financial sector, thus contributing to the promotion of economic development in Iraq.    LINK

Clare:  Governor of the Central Bank: We seek to bring about digital technologies in the Iraqi banking sector

2/27/2023

The Governor of the Central Bank, Ali Al-Alaq, affirmed today, Monday, the endeavor to make a quantum leap in the field of financial technology.

The bank's media said in a statement received by {Euphrates News} that "the Governor of the Central Bank, Ali Mohsen Ismail, received, today, the regional head of the global "Visa" company, Andrew Tory and his accompanying delegation."

He added, "The support provided by Visa to regulate the market and increase the acceptance of electronic collection was discussed, in support of the government's directions and the decisions it took in activating electronic payment through the use of the technology provided by the company, as well as improving the regulations and instructions for digital financial services."

Al-Alaq stressed that "the Central Bank of Iraq is supportive in its steps to expand the use of the latest digital technologies in the banking sector and enhance financial inclusion in Iraq," noting that "the Central Bank of Iraq seeks to make a quantum leap in the field of financial technology in the Iraqi banking sector by keeping pace with the latest global technologies."   LINK

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Clare:  The Governor of the Central Bank of Iraq meets the Director General of the Arab Monetary Fund 

February 26, 2023

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, received the Director General of the Arab Monetary Fund, Dr. Abdul Rahman Al-Hamidi.

His Excellency the Governor said in his speech: The Arab Monetary Fund has provided unremitting efforts in support, advice and training to the Central Bank of Iraq and its cadres, in implementing field surveys related to indicators of financial inclusion in Iraq.

For his part, Dr. Al-Hamidi praised the role of the Central Bank of Iraq in consolidating the work of the fund, and supporting its policies and programs, while expressing the fund's readiness to provide technical support and capacity-building in areas related to the bank's work, praising the role of the Central Bank of Iraq in launching the payments platform (Bunu) in the field of Coverage of payments for intra-trade using various types of currencies.

It is noteworthy that the Central Bank of Iraq is an active member of the Arab Monetary Fund, and is considered one of the largest shareholders among central banks and financial institutions, and invests part of its foreign reserves with it.

Central Bank of Iraq 
Media Office
26/2/2023   

https://cbi.iq/news/view/2249

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 Courtesy of Dinar Guru

Pimpy  There's a difference in RV and RI...RV is when you re-value a currency.  We saw a revalue when the Iraqi dinar went from 1190 dinars to 1450.  That is an RV.  An RI is when you had an exchange rate for whatever reason they changed it and then once it was done they just reinstated it.  That's what happened to Kuwait.

Militia Man  The government returned the budget to the finance ministry in order for them to adapt it to a new exchange rate.  Our view is the 1310 is something in the past.  We believe there's going to be a different change coming...I hope you guys feel like I do.  You should be excited...

IMPORTANT UPDATES! Market Risk Continues To Rise As Economy Craters FASTER.

Greg Mannarino:  2-27-2023

https://www.youtube.com/watch?v=trrCYfed0pQ

Hotter Inflation Chills Stock Market - Ep 874

Peter Schiff:  2-27-2023

· The inflation genie is impossible to put back in the bottle.

· CPI and PPI are lagging for a number of reasons.

· Beaten down stocks of 2022 enjoyed a short-lived dead cat bounce in 2023.

· Consumer spending in January surged after a record decline in tax revenue.

· The PCE is the most inaccurate way to measure inflation and it’s no coincidence that it’s also the Fed’s favorite way.

· The progress the Fed claimed to have made against inflation is already lost.

· The inverted yield curve is now even more inverted.

https://www.youtube.com/watch?v=VxKLQGIRMPM