“Worthless Right?” – Fri. PM KTFA Thoughts/News 6-16-23

KTFA

Clare » June 16th, 2023

Iraq plans to join World Trade Organization

June 15, 2023

The Iraqi Ministry of Trade revealed on Thursday that the government is planning to complete the requirements for Iraq’s accession to the World Trade Organization (WTO), indicating that financial contributions to the WTO have been settled.

A statement issued by the Ministry of Trade illustrated that work is underway to complete the requirements for joining the WTO, especially in terms of goods, services, the agricultural issue, and the modernization of the customs system.

Coordination has been ongoing with the General Authority of Customs to complete the modernization of the customs system and finalize the Tariff Law to be able to join the WTO, according to the Iraqi News Agency (INA).

Coordination is also underway with the Iraqi private sector and the Kurdistan region of Iraq to unify the visions related to the requirements for Iraq’s accession to the WTO.

The Iraqi Ministry of Trade mentioned last January that the committee concerned with Iraq’s accession to the WTO, headed by the Minister of Trade and consisting of representatives of ministries, agencies, and the private sector, is working to have the requirements for Iraq’s accession to the organization completed.

The ministry added that its plan includes holding official meetings at the WTO’s headquarters in Geneva and coordinating with the member states to mobilize support and speed up accession procedures to make Iraq an active member and partner in economic decisions and trade policies that would enhance Iraq’s integration into the global economy.   LINK

ButchB » June 16th, 2023

looks like Iraq gets to play with the big boys now

Turk182 » June 16th, 2023

Thank you for your Application to join the WTO  Iraq – just an FYI – “You ain’t getting in with a program rate of 1,300 to 1 “imo

Paulette » June 16th, 2023

IMO……I disagree……..the rate is irrelevant to the World….Very relevant to the CBI who has to supply the actual money…..look at Vietnam…….  Instead, I believe “You ain’t getting in unless you are recognized by the IMF as Article VIII compliant” is the more appropriate statement.  

This brings the IQD back to FOREX and easily exchanged worldwide.

Anybody here that thinks the IQD is worthless toilet paper money can feel free to just send what they have to me.    After all, it’s worthless right?  Contact me by PM and I will be happy to take that worthless toilet paper off your hands.  I, for one, certainly have a measurable amount of value of the IQD held.  In fact, our group has a significant value of accumulated IQD….We just hope the value increases but recognize the current value is significant based on what we have had to exchange for it.  

The budget value is the same at 1300 as it would be at 1-1.  It is based predominantly on oil sales denominated in USD.  It is just the amount of IQD that differs.

The rate is just a number to the currency value.  $1,000,000 USD value of IQD at 1300 is the same as a $1,000,000 USD value at .25.  It is still $1,000,000 value.  The value is the same but the amount of IQD is the only difference.  It is just a number tally system.  

The issue is freedom of movement of capital.  That is what will open Iraq to the world.

Go Article VIII announcement  Go RI.  This is at the discretion of the IMF.  

In the meantime, I hope Iraq restructures their currency very soon.  This is a CBI function and at their discretion.

Billuke » June 16th, 2023

imo….I concur with Paulette – from a conf. call this past Jan. 18 – Frank mentioned that a rate can be low to join the WTO, but has to be internationally tradable currency. imo…Look at South Korea and Vietnam  Perhaps Iraq’s 15 – 18 year attempt to join the WTO will finally come about….soom.

Cleitus » June 16th, 2023

Viet Nam (Dong) and SK (Won) are tradeable currencies with a low rate because they had and continue to have STABILITY, SECURITY and were not/are not  multi-currency countries. Iraq was NOT any of the above until recently under Sudani. Things started to get hot under Kazimi (sp) when he and his delegation made that famous visit to DC to present the “Papers” (roadmap to where we are today) to the IMF and other US government agencies.  

Can you say Iraq has security and stability today? Of course you can…, AND, no longer are they a multi-currency country. Thus, the sanctions were gradually lifted.  And…, I’ll throw in the, IMO.

This was widely discussed a few years ago and the ole timers should remember this. For you ole timers that may remember this famous trip to DC, I’m doing this from memory.  If I need to be corrected somewhere please step in. 

So…, I say God has his own time for this event.  I believe a massive wealth transfer is about to happen so stay patient and prayer.

DoTalkToMe » June 16th, 2023

The US and the US dollar being shuned and rejected by Africa.
Africa takes a very hard stand against LGQT community. They stand against the debauchery of the US. Many countries will be doing trades with different currencies.  Things are getting exciting on the world stage

MOakes » June 16th, 2023

It is about time the countries of the world wake up and reject the Fed.
The Fed has been punishing the peoples of the world since 1913 when Woodrow Wilson, signed the act into law.   IMO

Source: Dinar Recaps

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