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hmmm

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Everything posted by hmmm

  1. Literally just posted it with no reaction at all. Some one else reposted my name with a meme and another person posted that they had already posted this information. Literally, and I do mean literally, the only reaction was from you 🤣🤣🤣🤣 And you spelled by ( buy) wrong sooooooo...there’s that too. This is why I only post on here like every four years! Isn’t this the news section!??🤣🤣🙌🏼🙌🏼🙌🏼
  2. The Trump administration warned Iraq this week that it risks losing access to a critical government bank account if Baghdad kicks out American forces following the U.S. airstrike that killed a top Iranian general, according to Iraqi officials. The State Department warned that the U.S. could shut down Iraq’s access to the country’s central bank account held at the Federal Reserve Bank of New York, a move that could jolt Iraq’s already shaky economy, the officials said. Iraq, like other countries, maintains government accounts at the New York Fed as an important part of managing the country’s finances, including revenue from oil sales. Loss of access to the accounts could restrict Iraq’s use of that revenue, creating a cash crunch in Iraq’s financial system and constricting a critical lubricant for the economy. The prospect of U.S. sanctions against Iraq arose after the Jan. 3 U.S. airstrike that killed Iranian Maj. Gen. Qassem Soleimani at Baghdad International Airport. The Iraqi parliament voted Sunday to urge Prime Minister Adel Abdul-Mahdi to work toward the expulsion of the approximately 5,300 U.S. troops. Get news and analysis on politics, policy, national security and more, delivered right to your inbox In response to the nonbinding resolution, which was backed by the prime minister, President Trump threatened to impose sanctions against Iraq if the U.S. was forced to withdraw its troops. Mr. Abdul-Mahdi moved ahead with those plans this week, requesting the U.S. agree to talks to plan the safe withdrawal of American troops, according to an Iraqi description of a Thursday call with Secretary of State Mike Pompeo. Mr. Pompeo disagreed with Iraq’s version of his call with Mr. Abdul-Mahdi and said the U.S. would continue its Iraq-based campaign against the Islamic State extremist group. The State Department declined to comment on the U.S. warning to Iraq about its New York Fed account. The warning regarding the Iraqi central bank account was conveyed to Iraq’s prime minister in a call on Wednesday, according to an official in his office, that also touched on the overall military, political and financial partnership between the two countries. Spokesmen for the Iraqi prime minister, its central bank and its embassy in Washington didn’t respond to requests for comment. The U.S. State and Treasury Departments and the Federal Reserve Board declined to comment. The Federal Reserve Bank in New York, which can freeze accounts under U.S. sanctions law or if it has reasonable suspicion the funds could violate U.S. law, said it doesn’t comment on specific account holders. The potential economic and financial fallout is weighing on Iraqi officials as they try to address the presence of American troops without provoking a backlash. In recent days, Iraqi officials have stressed the need for friendly relations with the U.S., even as pro-Iranian militias and politicians exert pressure to expel American troops. “Whenever you have any amicable divorce, you still have the worry about the children, pets, furniture and plants, some of which are sentimental,” said a senior Iraqi politician. Mr. Abdul-Mahdi has said the departure of U.S. troops is the only way to avoid conflict in Iraq because the U.S. doesn’t trust the country’s security forces to protect its troops. But there are questions over his authority to evict them, given his status as a caretaker prime minister. Among other potential obstacles are Kurdish and most Sunni leaders, who boycotted the session at which parliamentarians voted on the troop expulsion. During the parliamentary debate, the speaker, a Sunni, urged Shiite lawmakers to be mindful of the potential backlash: “One of the steps the international community could take is to stop financial transactions with Iraq, and we would be unable to fulfill our commitments to our citizens at any moment,” Mohammed al-Halboosi said, based on a video of the proceedings viewed by The Wall Street Journal. The financial threat isn’t theoretical: The country’s financial system was squeezed in 2015 when the U.S. suspended access for several weeks to the central bank’s account at the New York Fed over concerns the cash was filtering through a loosely regulated market into Iranian banks and to the Islamic State extremist group. “The U.S. Fed basically has a stranglehold on the entire [Iraqi] economy,” said Shwan Taha, chairman of Iraqi investment bank Rabee Securities. The prospect of sanctions has unsettled ordinary Iraqis, for whom memories of living under a United Nations embargo during the 1990s are still fresh. Pro-Iranian and other Shiite factions leading the charge to oust U.S. forces from Iraq have sought to reassure the public by telling them Iraq could pivot to China. An adviser to the prime minister, Abd al-Hassanein al-Hanein, said that while the threat of sanctions was a concern, he did not expect the U.S. to go through with it. “If the U.S. does that, it will lose Iraq forever,” he said. Besides the financial impact, many politicians, including some Shiites, worry that a U.S. withdrawal would allow Islamic State to re-emerge as a major threat. They also view the U.S. as a necessary counterweight to Iran, which has tightened its grip on the Iraqi government during Mr. Abdul-Mahdi’s premiership. The U.S. is concerned that an exodus of American forces could allow U.S. currency to be redirected to Iranian accounts and to other adversaries, according to people familiar with the matter. The Trump administration’s sanctions campaign against Iran has squeezed the flow of U.S. dollars to the government in Tehran over the past year. The American dollar, the most traded currency in the world, is used by Iran’s Islamic Revolutionary Guard Corps to pay its foreign proxies fighting against the U.S. and its allies in the region, including in Iraq, U.S. officials say. Iranian-owned or controlled foreign exchange houses and banks in Iraq have been an important source of funding for Iran and its proxies active in the country, including those fighting against U.S. forces, U.S. officials say. The New York Fed provides banking and other financial services for around 250 central banks, governments and other foreign official institutions, such as the account owned by Bangladesh from which North Korean agents were able to steal $81 million in 2016, U.S. officials have said. When Iraq needs hard currency, its central bank can request a shipment of bills that it then distributes into the financial system through banks and currency exchange houses. While the country’s official currency is the dinar, U.S. dollars are commonly used. The New York Fed doesn’t publicly disclose how much money it currently holds for Iraq’s central bank. But according to the Central Bank of Iraq’s most recent financial statement, at the end of 2018, the Fed held nearly $3 billion in overnight deposits. Restricting Iraqi access to dollars could cause the dinar’s value to fall, as it did in 2015, which could again trigger a dash for dollars in Iraq as people, companies and banks try to secure hard cash. Such a devaluation could cause broader economic woes as it cuts spending power for workers, companies and the government.
  3. I’m trying to learn a little more on the HCl. Was it passed in 2007? If so what are we waiting for? If I’m reading correctly, it’s set up to help foreign companies get more money from oil contracts? That doesn’t seem to be an incentive for Iraqis, right? Would the agreement be between Iraqis and Kurds or the whole country and the rest of the world? If there’s a thread answering all this I apologize, I just can’t find these answers. Just want to know what the incentives for them here and if an RV is worth that to them for this deal! Thank you!
  4. Do other countries have HCLs? Basically, is there anything to compare this process to or is the entire revaluation process unique to Iraq? If it happened would their citizens receive monthly stipends like those in other Arab countries? Thanks, Hmmm
  5. If they start out with a float do you believe they would start very low to try and work to the ten cent mark or start at ten and move up?
  6. Alright trinity... I read that report you posted after Adams chat and I appreciate that info boost, much needed! So where does this put us? We need security? More private sector investments? What are some key points we should be looking for besides the obvious HCL? Compared to the other countries that have move to a more flexible exchange rate, is there a pattern to these processes? Your my go to now so I'm counting on you here;)
  7. It's not the bs you should watch out for, it's the hateful little trolls you should be weary of these days;)
  8. Super interesting read and thank you for the response! Very helpful in understanding more about thus investment. The only thing is who determines when that stability becomes a reality? CBI, IMF, GOI? So we understand the why, but the how and when could change at any minute. I realize this is the entire guessing game here, but who really determines when these ducks are in a straight enough row to accomplish what it says in the link you provided?
  9. Why does it have to be now or a year from now? Q1,Q2 does that really matter for this country? There is really no historical precedent for this event and despite Ramadan whose to say when it can or can't happen. I have never understood the idea of a window in this investment. No disrespect to anyone and I appreciate a gut feeling as much as the next guy, but I just don't see the logic in that assumption. Feel free to explain if I'm missing some obvious issue here!
  10. You've come to the right place for thoughts a prayers!For those who don't like the ads, I just log on with my smartphone and it gives you a very simplified version of the site. This means no ads in threads and I can't see the pluses or negs( cause i mean who really cares about opinions of opinions!). Very easy to use and no nonsense!
  11. hmmm

    Full chat room?

    I just tried to get in the chat room and it said it was full! That's a first. Is Adam on?
  12. Historically Adam waits until he had solid info to make a statement. Otherwise he would be involved in the hype. Mr. Montana is not about hype! That's why this site had such good info and such intelligent members! He'll talk when he has something to say, not just regurgitated rhetoric!
  13. In reading this article I am wondering if they didn't call all the 50's in because maybe it was the one most looted in the attacks by IS. I think I read it was the most counterfeited too. Anyways, this could be part of the plan to make an RV nonprofitable by IS. The last paragraph made contemplate this idea.
  14. CBI sure is busy. Seems like a lot of work for such an undervalued currency!
  15. Man, I just threw out my old smoking jacket! Also, be careful thug! There are some people on this sure that are taking these posts personal:( luig1 is taking a hell of a beating in the rumors section! Maybe being delivered by a clown will soften the hurt that these other sites cause our more tender members;)
  16. Kurds? To be or not to be a problem? Thoughts on if this is just politics as usual or a sign of some real progress? Thank you Adam!
  17. I would be interested to hear why you think that? I don't really get a time table vibe off this article. I just seems like a statement as to where they are at this time and how they plan to move it forward. Appreciate your input and interpretation.
  18. Do you have a link to an article on that easy? Just curious as to why they would all be coins. Thanks in adavance!
  19. Thanks rules! Yeah I was just think what could 50 dinars buy?! Anyways thank you and I will def check that out. So we will be looking at 10, 5, 1., 1/2 and 1/4. Plus fils maybe?!
  20. I was on CBI website, been on it maybe three times. Anyways , I was just hunting around and saw the page with the pics of the notes in circulation. I noticed that only the 50 and 100 dinar coins were not in circulation. The 50 dinar note was though. Why is this? Do they have use for a 50 dinar note? Is this old? What would constitute a lower denomination? Thanks!
  21. Pawns of a much larger game. I'm not a conspiracy guy , but it just all seems a little too intertwined and just so very manipulated. Your question and points are very valid but I'm not sure we can see the inner workings of such a large network. IMO if it crumbled we would just see those guys move to another organization that would be formed right afterwords. They would never just give up that power. Just a simple guys thoughts!
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