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Carrello
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Posts posted by Carrello
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4 hours ago, md11fr8dawg said:
That's NOTHING! Dementia Joe spends that much before he finishes his morning ice cream!
Yes! Because Joe is PRESIDENT of the United States of America.
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EXPORTS!!!
Iraq signs a memorandum of understanding with three Arab countries for agricultural and commercial cooperation
EconomyIraqJordanLebanonSyriaMemorandum Of UnderstandingCommercial Agricultural Cooperation
2023-03-27 03:56Font
Shafaq News / Iraq, Syria, Lebanon and Jordan signed, on Monday, a quadripartite memorandum of understanding for cooperation in the agricultural field and enhance trade exchange to achieve integration between the four countries.
The memorandum includes strengthening and developing cooperation in the agricultural field, both plant and animal, exchanging experiences, information and successful agricultural experiences, and managing reserves and gardens between the four countries.
It also included cooperation in the field of fire fighting, climate change, rural development, agricultural extension, production, animal health and veterinary medicines.
"The agreement is a starting basis for joint work and cooperation in the agricultural sector on which most Arab peoples depend and provides markets for the disposal of the products of the four countries," Iraqi Minister of Agriculture Abbas Al-Alawi said.
Last year, the four ministers held three meetings where a meeting was held in Iraq in February, the second meeting in Lebanon in July, while in September the third meeting was held in Jordan.
https://shafaq.com/ar/اقتصـاد/العراق-يوقع-مذكرة-تفاهم-مع-ثلاث-دول-عربية-للتعاون-الزراعي-والتجاري
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3m1, IMO Tamimi is saying there is no need for the creation of coins since currency will be digital, or as you say "numbers on a screen."
This statement by Tamini tells me they are revaluing and need smaller denominations: He explains that “coins, being small denominations and forming parts of the large currency, can cover price differences in a flexible manner without loss to the consumer or the seller, and limit the exceptional profits that sellers achieve by selling their cheap goods at higher prices that are compatible with the available currency denominations, for example: The price of a small bottle of water is 135 dinars in wholesale, its price with profit is 175 dinars, but the sale price to the consumer will be 250 dinars, as there is no category smaller than 250 dinars to return to the consumer, so he has to accept this price with one bottle or buy three bottles for 500 dinars even if he is not need it.”
I'm not sure there is a stick of gum in Iraq that currently costs 135 dinars.
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Thank you. I had been looking for the source of this article.
Sounds like a lot of education for the Iraqi people.
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3 hours ago, Jaygo said:
I gave you a POW but my party dress is dusty and the bank that I have been sitting in front of for the last 15 years in now filing for bankruptcy!!! 😂
Chin up, Jayco! This is a new day.
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13 minutes ago, Engine1 said:
If this ever happens and RV's ..... please let me supply the kegs for the party. We could have a old time 80's kegger
You're on!
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1 hour ago, Jaygo said:
I don’t get excited about anything I read. Been here since 2009. Nothing surprises me anymore. 🤦🏻
I'm sorry you can't see what's happening. It's understandable.
But many of us are excited, apprehensive, and anticipating a winning ticket this time. It may take a little while, but nobody will quell my giddiness! Get out your party dresses and wash the car. We are going to be one big party SOON!
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1 hour ago, 3n1 said:
EO 13303... years ago i would set in on dinar think tanks way to much it was always debated if thats what the 13303 was about , ive debated selling so many times and using the money for other ventures ... here we sit 🤣 cheers carrello
EO 13303 along with CPA Regulations and Orders allowed IQD purchase. I don't recall which Reg/Order it was, but I read it about 8-9 years ago. For the curious: https://govinfo.library.unt.edu/cpa-iraq/regulations/
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Dinariffic, you are right! And that was the door that opened for us to invest! Let's remember when the US invaded Iraq the Coalition Provision Authority (CPA), Paul Bremer, de-valued the IQD. We then had new IQD printed, distributed, and the Hussein notes were collected and destroyed. The SIGIR report submitted quarterly to Congress presented the conditions in Iraq and stated the IQD would eventually be reinstated to $1.19. A presidential Executive Order was signed that stated it was legal for US citizens to purchase IQD.
Looks like people that were around in 2003 and understood the plan for Iraq regionally and economically, realized the plan included banking and governmental reform and included bringing the IQD back to a realistic value. It always pay to have people in control that understand history, process, and long term planning. The last two years have shown us that in actions, results and black and white articles.
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57 minutes ago, Retiredofficer said:
I’m a wee bit excited; however, I’m not quite sure I can coax the Fat Lady to mount the stage one last time. Besides I forgot where I stashed the microphone after she slammed it to floor 2 or 3 years ago. Let’s RV Bit&h!
Two years ago I was ready to sell my dinar and buy a condo in Mexico. How things have changed in 2 years. I wonder what happened that have revamped Iraq in major ways? I wonder
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20 hours ago, Retiredofficer said:
Yah, you would think President Biden knew something about the ME and Iraq. I'm sure it just coincidental that Iraq has buckled down and started implementing banking reforms demanded by the USA in the past 2 years, the PM and other ministers fly back and forth to DC (to have ice cream?) and things start happening. Kurdistan was told by the USA to conform or "lose out" and sure enough two months later budgets are done, HCL is looking good, etc. Is Iran being good or have they been quelled by the USA?
I'm sure all of Iraq's progress was in the works with the last administration but it just took longer because they were working on the new infrastructure plan and a new healthcare plan simultaneously. Bigly hard work!
Iraq has never looked so good but I'm sure it's just coincidental.
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I'm wondering if anyone has thought about thow he money they invested in IQD would look if they had taken that money and invested in the stock market instead. Let's say you took $1000, maybe 20 years ago, and invested in varied stocks, and then looked at the ups and downs the market has taken over that time, especially 2008, and the days you made money, lost money, and came out even. That's quite a 20 year roller coaster ride. What would you have ended up with at a 20-year $1,000 investment?
High risk. High return. It's not for the weak, underfunded, or uneducated investment portfolio.
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You can live in the past with a glass half empty, or look to today and tomorrow with a glass half full that's ready to bubble over.
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Maybe it's Chase and I have it wrong. My real point is if the US is controlling Iraq's payments to Iran for electricity, I believe we have control on all payments.
Thanks, Mally.
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The Iraq government has a new agreement with J P Morgan in NYC and Iraq's petrodollars are banked in NYC. I wonder if the petrodollars are deposited with J P Morgan and J P Morgan is making the payments on Iraq's invoices using the petrodollars and replacing the auctions while the USA keeps a close eye on the funds, payments while eliminating the risks of corruption.
Just thinking...
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Adoption of the national currency
March 9, 2023
Based on the decision of the Council of Ministers and in light of the policy of the Central Bank of Iraq to encourage reliance on the national currency in financial transactions inside Iraq provided by the banking system and non-banking financial institutions, it was decided that electronic financial services provided inside Iraq through (ATMs, point of sale devices, electronic payment gateway) will be in the currency of the Iraqi dinar.
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On 3/6/2023 at 4:26 AM, rvmydinar said:
Kuwaiti dinar ( the highest rate in the world )?
A benefit of a currency basket is providing "stability" for a country's currency. Value has nothing to do with it.
"The Kuwaiti currency is pegged to a basket of currencies as opposed to one currency. The basket of currencies is not disclosed but is expected to be heavily weighted towards the U.S. dollar."
"A currency basket is a portfolio of selected currencies with different weightings.[1] A currency basket is commonly used by investors to minimize the risk of currency fluctuations[2] and also governments when setting the market value of a country’s currency.[3]...
A well-known measure is the U.S. dollar index, which is used by Forex traders. There are six currencies forming the index: five major currencies – Euro, Japanese yen, British pound, Canadian dollar, and Swiss franc – and the Swedish krona.[7]"
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I love these articles about POS and a digital currency and Iraqis getting bank accounts because when the RV does take place and transactions with a debit or credit card take place, the poor people and less educated will not be able to be cheated on the street. RV conversion corruption has always been a problem with regard to the uneducated.
The rate is 1300. Stabilize it. Secure the new system. If you have been in this investment for a while, then you must have thoroughly researched your investment, researched the financial and economics of it, understand the risks and didn't investment more than you could afford to lose, observed the politics of the ME, and understand countries outside of the ME know the importance of stabilizing and securing Iraq as a cornerstone in the ME for stabilization and security. Investors like that. Nobody invests in insecure countries.
I would say stability and security was Dr. Shabibi's mantra. But he was a highly educated man and did not use words that had no meaning or displayed the lack of understanding of a situation.
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"Iran obtained huge amounts of the Iraqi currency and it desperately needs the US dollar, so what did the decision-makers think that Iran would do with this currency?
Iran can't afford to leave IQD sitting in an account. They need exchangeable currency, not IQD. Considering the time and interest Germany, Canada, Britain, USA, etc., have invested in Iraq for many reasons, and are aware the IQD revaluation, they would have anticipated Iraq paying Iran in IQD. This is not a new idea as we have seen it written about before. I would think many countries, possibly their intelligent agencies, would make offers through the Black Market or straight forward offers to Iran for the IQD in order to have the IQD for foreign reserves, and most importantly, to keep it from Iran in anticipation of an RV. "They" know more than we can guess at.
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It is a good move if the zeroes are dropped.
Don't forget one of the quarterly congressional SIGIR reports stated the IQD would revalue to $1.17 (or$1.19, IDR) and that was a decade ago.
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Why Is The U.S. Dollar So Strong Right Now?
Getty
Forbes Advisor Staff
Reviewed By
Editor
Updated: Feb 16, 2023,
Nearly every asset class has seen miserable returns in 2022, except for the United States dollar.
The dollar has strengthened dramatically over the course of the year as the Federal Reserve hiked interest rates in an effort to quash sky-high inflation. The U.S. Dollar Index, which measures the greenback against a basket of other currencies, is up more than 17% so far this year.
“We have seen a tremendous rise in the dollar,” said Matt Forester, chief investment officer of Lockwood Advisors at BNY Mellon Pershing. “It’s a juggernaut in the middle of every securities transaction and payment around the globe.”
The dollar’s strength is even more pronounced when compared to the poor performance of stocks, bonds, real estate and cryptocurrencies—and that’s before considering the impact of inflation. Moreover, a strong dollar benefits American consumers who buy foreign goods (hello, French wine!)
But the strong dollar story is not entirely positive, especially for your investment portfolio. Here’s what you need to know.
What Does a Strong Dollar Mean?
A strong dollar refers to the relative value of dollars compared to another currency or a basket of currencies. A currency isn’t strong or weak on its own; it can only be so compared to something else.
The U.S. dollar is strengthening because the Fed adopted a hawkish monetary policy stance in response to skyrocketing inflation. It has lifted the federal funds rate from near zero at the beginning of 2022 to a range of 3.75% to 4% at the November FOMC meeting.
Market observers expect at least another percentage point increase by the end of the year.
But the strong dollar isn’t just about the Fed. While the U.S. economy may be flirting with a recession, it’s still looking much better than other advanced economies, including the United Kingdom, European nations and Japan.
Read More: What Is Forex Trading?
European economies are bearing the brunt of Russia’s war on Ukraine, especially in the form of dramatically higher energy costs. Japan is struggling with lower global demand for manufactured goods, which make up the better part of its exports.
Meanwhile, the sheer tonnage of geopolitical risks swamping the global economy, not least of which are China’s economic troubles thanks to its zero Covid policy and bursting real estate bubble, have driven investors to safe-haven investments. And the greenback is currently one of the safest bets around.
When global investors pour money into U.S. dollars, they are selling off other currencies. Buying dollars pushes up the value of the greenback, and selling other currencies weakens their value.
American consumers are clear beneficiaries of the trend. Any imported goods or services purchased in euros, pounds or yen is now significantly cheaper than a year ago, a welcome development for consumers who are already struggling under the yoke of high prices at home.
“The strong dollar is providing an offset to inflationary pressures which we’ve seen via improving consumer spending,” said Argent Financial Group chief investment strategist Tom Stringfellow.
How Strong Is the Dollar?
Using a comprehensive metric like the U.S. Dollar Index gives investors and consumers insight into the dollar’s strength vis-a-vis a basket of currencies.
But many folks, especially those wanting to know where to book their next vacation, want insight into how strong the dollar is compared to specific currencies.
Here’s a view of how the dollar compares to major currencies as of Sept. 28, 2022:
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EUR/USD: One euro buys $0.98 today, compared to $1.16 a year ago
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USD/JPY: One dollar buys 148 yen now, versus 114 a year ago
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USD/CHF: One dollar buys 1.01 Swiss francs today, compared to 0.91 a year ago
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GBP/USD: One British pound buys $1.12 now, compared to $1.37 a year ago
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USD/CAD: One dollar buys C$1.37 now, versus C$1.24 a year ago
In each of these pairs, the dollar is in a stronger position now that it was 12 months ago, to the delight of American consumers.
American exporters, though, aren’t happy.
“The dollar is almost the strongest in two decades against the euro, putting American manufacturers at a pricing disadvantage against many foreign competitors,” said Bill Adams, chief economist for Comerica Bank. “The Chinese yuan has depreciated sharply since early 2022 as well as the tech industry correction, restrictions on movement, and a housing correction weigh on its economy.”
How the Strong Dollar Impacts Investors
Volatility in the currency market has important implications for investors. Take Microsoft Corp. (MSFT), the world’s third most valuable company by market cap.
This tech behemoth recently warned analysts and investors that future revenue would drop even more than expected thanks to a rising U.S. dollar. How can this be?
Microsoft is a multinational corporation that takes in roughly half of its revenues in foreign currencies. If the value of the money it earns abroad falls compared to the dollar, that means Microsoft will earn less in U.S. dollars for those sales.
Companies that depend on exports from the U.S. for their sales or earn a lot of revenue overseas could struggle in a strong-dollar environment. This could put even more pressure on their shares, which are already dealing with higher interest rates and domestic consumers suffering from high inflation.
Microsoft is down roughly 35% so far this year, compared to a 22% decline for the market as a whole.
Emerging markets are also struggling, with diversified emerging markets funds down 27% so far this year.
That’s because many of the countries issue dollar-denominated debt and then service those IOUs with their respective currencies. That’s a tough bargain when the dollar is strengthening and interest rates are rising, potentially leading to losses and defaults.
What the Strong Dollar Means for You
There are some strategies that allow individual investors to hedge against currency volatility, but they tend to be very complicated and expensive.
Average traders need to be cognizant of global events in order to understand why their portfolio may be struggling at a particular moment.
“More U.S. investors and advisors need to be paying a lot closer attention to what’s going on in the world,” said Forester. “It’s going to have an effect on your portfolio.”
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What Are Foreign Exchange Reserves? Foreign exchange reserves are assets (i.e., Yuan) held on reserve by a central bank in foreign currencies. These reserves are used to back liabilities and influence monetary policy. It includes any foreign money held by a central bank, such as the U.S. Federal Reserve Bank.
Liquidity is the primary investment objective of the foreign reserves portfolio. As such, foreign currency reserves are invested to ensure that adequate liquidity is maintained to meet potential needs.-
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2 minutes ago, rvmydinar said:
Are you really really sure about that?
History has shown one of the biggest concerns when any currency is revalued that stability is of utmost importance. Stability appears in many forms i.e., look at the recent pull back on presenting new currency in Nigeria. If the auctions are still supporting Iran, (providing funds to militias making Iraq unstable) no go. Do you think Iraq can cut off the auctions and currency corruption within 90 days?
Also, the USA will not, IMO, allow the revaluation/float until Iran is choked and buried, unable to continue its reign of terror in Iraq, and providing arms to Russia to fight our initiatives with NATO and Ukraine.
We must make note nothing of consequence for over a decade has been taken to obliterate the auctions, which we know have been a huge, corrupt drain on Iraq. But recently things took focus and actions started to make things happen. The US Treasury has been active in Iraq for years, even having office space in the CBI building, guiding Iraq on banking reform. Only recently has real action been taken and now it is happening as the US Treasury and the Federal Reserve guide Iraq. Iraqi officials and prime minister can't get to DC fast enough to take direction and guidance.
Can I be certain of 90+ days? This is Iraq. Of course I can't be sure. Hopeful though, and the situation is better than I have ever seen it. The pump has been primed and ready to provide for the thirsty people of Iraq and currency investors.
Looking back on Dr. Shabibi's plan, I wonder if Iraq was really ready at that time and would have been successful at a revaluation.
Or as some would say, I'm just "an idiot."
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IMO don't look for a change in IQD value for 90+ days.
"According to the information I have, the US Federal Bank gave Iraq only three months to be committed to monitoring, and during this period it is observed to what extent Iraq adheres to international standards and to stay away from money laundering and transfers."
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Adviser to the Prime Minister: Accelerating the approval of the oil and gas law will establish two important matters
in Iraq & Dinar Related News
Posted
Matthew 7 :: NIV. "Do not judge, or you too will be judged. For in the same way you judge others, you will be judged, and with the measure you use, it will be measured to you. "Why do you look at the speck of sawdust in your brother's eye and pay no attention to the plank in your own eye?