“Foreign Currency Procedures” – Wed. PM KTFA Thoughts, News w/ MilitiaMan 10-13-21

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KTFA

MilitiaMan » October 13th, 2021

The Cabinet Secretariat approves the mechanisms for lending large projects 

12th October, 2021

The General Secretariat of the Council of Ministers announced, on Tuesday, its approval of mechanisms for lending large projects to more than twenty billion dinars.

A statement of the secretariat, a copy of which was received by Mawazine News, stated that “the General Secretariat of the Council of Ministers has approved the mechanisms for lending large projects to more than twenty billion dinars.”

The statement added, “The concerned higher committee approved (the lending of large projects whose loan amount is twenty billion dinars upwards, according to the initiative of the Central Bank)”.  LINK

If this article is suggesting they have an approved mechanism (as an example that a Dinar is equal to a Dollar), then they did a good job leaking that out.

They did that on the back of the Sadr horse with one heck of a start out the gate in respect to changing the value of the exchange rate!!

If that is the case I can understand a gradual increase from there with a managed or directed float.. Regardless this is looking very good and timed with urgency.

There are to be procedures in place on the 17th per the CBI for foreign currency exchange.. Being 1:1 at that time may very well be necessary so that the Dinar can begin the journey to being in the ranks with global currencies!!

Imo That is powerful at this present time! – MM

FamilyBusiness » October 13th, 2021

Thanks MM …… I’ll be praying this 17th is our day.

Al-Sadr: We will work to raise the level of the Iraqi dinar

11th October, 2021

The Leader of the Sadrist movement, Muqtada al-Sadr, pledged on Monday to end the use of weapons outside the framework of the state and improve the economic, health and educational situation, while stressing that the Sadrist bloc is the largest bloc to form the government.  

Al-Sadr said in a televised speech, which was followed by “Mawazine News”, that “all embassies are welcome unless they interfere in Iraqi affairs and form the government,” explaining that “any intervention will have a diplomatic response or perhaps a popular response befitting the crime, because Iraq is for Iraqis only.”   Al-Sadr added, “We will not allow interference at all, and from now on, weapons must be confined to the hands of the state, and it is forbidden to use them outside this framework, even those who claim resistance.”  

Al-Sadr continued, “It is time for the people to live in safety without occupation and militias kidnapping and detracting from the prestige of the state. Iraq is the Iraq of reference, wise men and dignitaries, and we will follow their advice.”   Al-Sadr indicated that “from now on, the government and parties will not have control over money and goods, but rather it is for the people, and every corrupt person will be held accountable, whoever he is, and that the people’s oil is for the people.”

And he pledged, “We will work to raise the Iraqi dinar to be in the ranks of global currencies gradually,” pointing out that “age, industry, trade, education and health will have a great effort, and there is no difference between one governorate and another except to the extent of the need and its population census.”  

Al-Sadr indicated that “the infidel Ba’ath was removed with the blood of the Iraqis, and we will remove corruption with our blood, and the people will be dignified at home and abroad, and they will be watching over us.”   Al-Sadr concluded, “The people should celebrate the largest bloc without armed manifestations and without disturbing others.”  LINK

Source: Dinar Recaps


Ryan1216 » October 13th, 2021

Al-Sadr: We will work to raise the level of the Iraqi dinar  LINK

Sadr saying he’s going to work to raise the value is really great but it’s all talk until we see a new rate. How many times has the CBI Governor stated this. The finance minister Allawi as well. PM Kazemi said before the election and nothing noone has come through for us. Not sounding negative at all but I’m sick of the talking ….we need action.

Solorat » October 13th, 2021

Imo, I have to agree with you. I’m sure there is a lot of us that are tired and need action.

Samson » October 13th, 2021

The Cabinet Secretariat announces a holiday

10/13/2021 15:26:25

 The General Secretariat of the Council of Ministers announced the suspension of official working hours next Monday, 10/18/2021, on the occasion of the Prophet’s birthday.

The Baghdad Operations Command had announced to Euphrates News its own security plan for the occasion.

A source in the operations stated that “the plan does not include any cuts to major streets, but rather within the Adhamiya area, which will witness the celebration, especially near the vicinity of the imam (Abu Hanifa al-Numan),” noting that “the security plan for reviving the occasion is witnessing its initial preparations.”

The source confirmed, “The central celebration will be in the Adhamiya area and in the Al-Khilani area in the shrine of Sheikh Abdul Qadir Al-Kilani.”   LINK

Oil falls on inflation fears, dollar rises

13th October, 2021

Oil prices fell slightly on Wednesday, amid concerns that rising coal and natural gas prices in China, India and Europe will raise inflation and slow global growth, reducing demand for oil

The strong US dollar, which is trading near a one-year high, has also affected oil prices, as it makes oil more expensive for those who own other currencies

US West Texas Intermediate crude futures were down 6 cents, or 0.07 percent, at $80.56 a barrel at 05:11 GMT, after rising 12 cents on Tuesday

Brent crude futures were down 7 cents, or 0.08%, at $83.36 a barrel

The International Monetary Fund on Tuesday lowered its growth forecast for the United States and other major economies due to concerns that supply chain disruptions and cost pressures are hampering the global economy’s recovery from the coronavirus pandemic

However, oil watchers remain focused on whether rising gas and coal prices will increase demand for petroleum products for power generation LINK

Source: Dinar Recaps

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