Sunday Afternoon Opinions @ 5:25 PM MDT - 3/17/2024

[ronscarpa]

REMEMBER, no one really  knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ...  RON 

 

 

Samson  Article: "Al-Sudani faces American pressure to resolve problems with the Kurds before visiting Washington" Quote; "Iraqi Prime Minister Muhammad Shia al-Sudani is expected to make his first official visit to the White House in April since taking power"

 

Pimpy  Everybody thought Iraq was at the end of becoming a member with the World Trade Organization...Come to find out they're just barely at the beginning stages. What does this mean for Iraq? How long is this going to take? Wikipedia Quote: "An offer of accession is given once consensus is reached among members. The process takes about five years on average but can take some countries almost a decade...The shortest accession negotiation was...2 years and 10 months. The longest were that of Russia lasting 19 years and 2 months." Pimpy makes a very valid and important point to keep in mind. We expect things to happen quickly, but apparently this will not be the case with WTO accession. However, he misinterprets the time element for Iraq, since the process started in 2004.  See following NOTE:

 

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: Alaq was on TV Channel One talking...with the United States Treasury on reconsidering sanctions on our banks. FRANK: He's going over there to tell them about the new exchange rate...
 

 

[ronscarpa]

NOTE: The Chair's visit was the first by a WTO delegation to Iraq, whose accession process started in 2004. There were several visits before the most recent.  The Chair of Iraq’s Accession Working Party, Ambassador Saqer AlMoqbel of the Kingdom of Saudi Arabia, visited Baghdad on 15-16 January 2024 to galvanize political support for the resumption of Iraq’s WTO accession process. The Chair engaged in high-level meetings with the Government, emphasizing the importance of the accession process to advance Baghdad’s economic reforms. The Government of Iraq affirmed its full commitment to an early resumption of the process by enacting the necessary economic and legal reforms.  

 

During the visit to Baghdad, the Chair was informed that Iraq's initial market access offers on goods and services would be circulated soon, in preparation for holding the 3rd meeting of the Working Party in the middle of 2024. 

 

The team in the Ministry of Trade will “take real steps that will shorten the path to Iraq's accession to the World Trade Organization and ultimately benefit from the advantages offered by this accession,” indicated Minister Al Ghurairi.

 

The Chair also met with representatives of the European Union and the United States as well as the International Trade Centre (ITC), which provide technical assistance to Iraq. “Addressing Iraq's technical assistance needs would go a long way in facilitating the resumption of the accession work,” he noted.

 

Once the general council or ministerial conference approves of the terms of accession, the applicant's (Iraq) parliament must ratify the Protocol of Accession before it can become a member. The applicant government becomes a full member of the WTO 30 days after notifying the WTO Secretariat that it has completed its ratification procedures. 

 

Based on this information, if Iraq is approved in June 2024 it's very possible they can become a member before the end of the year.  It would then fall on Parliament to agree to the terms of Accession Agreement.RON

Edited March 17 by ronscarpa
spelling

[ronscarpa]

4 hours ago, ronscarpa said:

Samson  Article: "Al-Sudani faces American pressure to resolve problems with the Kurds before visiting Washington" Quote; "Iraqi Prime Minister Muhammad Shia al-Sudani is expected to make his first official visit to the White House in April since taking power"

 

The US wants to see the HCL/Article 140 finalized & implemented. Many think this is necessary before any real value increase (RI/RV) can take place. Baghdad keeps renegging on agreements, and wants to shortchange Kurdistan. We shall see if we still have any real influence.

 

[screwball]

does it really matter??? we have been conditioned to think it does....

[TripleA1960]

No, nothing matters anymore--I just not sure they will ever revalue this money. Sixteen years in and I'm dog-tired of waiting for anything positive to happen with this--as a matter of fact, today I just don't see the positive in anything. We invested as a cushion for the future even over our 401K's. Well, thanks to the pandemic, I was laid off for 16 months, my job re-did how they do raises so the young ones get first chance at them, even though us older ones work circles around them so I am 3 raises behind now, our 401K's are almost non-existent because we had to find a way to live, and my mortgage and all of my credit card minimum's have doubled since Joe/Barack did such a bang up job ruining the country with the interest rates that I now can't pay all of my bills that I had no trouble paying before--and I am working! I am just about as low as I can go, some days I just don't think I can go on, and I have been trying to think positive. And the really sad thing is, I'm sure I'm not the only one who feels that way right now. Sorry, I'm just fed up--not a good day.

[coorslite21]

Not sure how important the WTO ascension is for a RV of the IQD....Vietnam is a WTO member, and look at the  value of the VND.

 

On the other hand you have the HCL....and how the 3 Iraqi States divide funds...

 

My personal belief is the Kurds are far advanced above the Shite and Sunni factions..even during the "war" US Military could walk the safe streets of Erbil without carrying weapons.

 

With only a third of the representation I have to wonder how long it will take to get the 17% they have asked for for a long time now...

 

In addition to my thoughts of the overstated importance of the WTO let me add the UN to that list as well as the WEF...sure great in concept....but what do they ever accomplish?

 

You know the US has more than 1000 Military bases around the World.....Russia just 23, mostly regional....and China just 5, with 4 in Antarctica...(wonder what that's about?)

 

I believe a transition in the monetary systems worldwide is in process. It's not as easy as pushing a button.....BRICS & Company will play a major role in this, as will AI, Quantum Computing, and a number Blockchain projects....

 

Enjoy the week.....   CL

 

 

[cutter73]

1 hour ago, TripleA1960 said:

No, nothing matters anymore--I just not sure they will ever revalue this money. Sixteen years in and I'm dog-tired of waiting for anything positive to happen with this--as a matter of fact, today I just don't see the positive in anything. We invested as a cushion for the future even over our 401K's. Well, thanks to the pandemic, I was laid off for 16 months, my job re-did how they do raises so the young ones get first chance at them, even though us older ones work circles around them so I am 3 raises behind now, our 401K's are almost non-existent because we had to find a way to live, and my mortgage and all of my credit card minimum's have doubled since Joe/Barack did such a bang up job ruining the country with the interest rates that I now can't pay all of my bills that I had no trouble paying before--and I am working! I am just about as low as I can go, some days I just don't think I can go on, and I have been trying to think positive. And the really sad thing is, I'm sure I'm not the only one who feels that way right now. Sorry, I'm just fed up--not a good day.

  you aren't the only one I'm sure of that;  I myself have things coming up life changing and not for the better.  @coorslite21mentioned above and I can contest to some of it;  I've been seeing more and more military jet engines come through the shop.  Until his comments I did not know 1000 bases.  Something is going on just might  be me but when I see these folders with the parts in the shop it has always had reasons.  We've only been shut down once by government; in my time (to only work on military parts-first)  After 9/11 was.  I hate to even think about what is coming...  Hang tight! I believe we're nearing the end.

[BETTYBOOP]

Now the excitement of the 1.32 rate has died down. what are we looking for next ? Anybody's opinion welcome

[Society]

4 hours ago, BETTYBOOP said:

Now the excitement of the 1.32 rate has died down. what are we looking for next ? Anybody's opinion welcome

The 1.32 was from a journalist with MediaLine.  I was surprised how much excitement it generated as it never came from any official source.

 

I am looking for education on the new lower denomination currency and then its release with a rate a little over a dollar.  This should completely obliterate the parallel market and then they should be able to accept IMF Article 8 obligations and Reinstate to the True Value of the IQD.  Of course all that depends on whether the US allows them to do so or the UN forces the sanctions to be lifted and end the US Receivership.  I hopeful they RD/RV soon.  This will be an In-Country event and seems like it should be permitted.  

[NWGUY]

Adam said years ago, it is about the HCL.  While I get excited sometimes about some of the articles, in the back of my mind, I know we need the HCL to get over the hump.  Just got to be patient.

 

[BETTYBOOP]

Anybody think America will stop further progress until they resolve the HCL?

[TripleA1960]

Sorry for my earlier post everyone, it's just been a bad day--I'm trying to stay positive, today was just harder than usual. I just want this to be over like everyone else.

[BETTYBOOP]

1 minute ago, TripleA1960 said:

Sorry for my earlier post everyone, it's just been a bad day--I'm trying to stay positive, today was just harder than usual. I just want this to be over like everyone else.

Don't worry about it. Hopefully, you feel better having said it. Plus we all have days like that.

[TripleA1960]

😊

[BETTYBOOP]

@TripleA1960.. if you evwr need an ear you can message me

[NWGUY]

5 minutes ago, TripleA1960 said:

Sorry for my earlier post everyone, it's just been a bad day--I'm trying to stay positive, today was just harder than usual. I just want this to be over like everyone else.

 

 

No problem my friend!  We all have been there with frustration, and we all go through it on a regular basis!  Hang in there, and you will get to the other side.  

[cody406]

5 minutes ago, TripleA1960 said:

Sorry for my earlier post everyone, it's just been a bad day--I'm trying to stay positive, today was just harder than usual. I just want this to be over like everyone else.

TripleA....looks like with the number of responses your post received you are not alone in your thoughts.   Thanks for sharing yours as we all have hope for better days ahead.    Peace to you

[TripleA1960]

Thanks everyone--I'll try to be more positive next time I post. Guess I shouldn't listen to the national news before I jump on this website to assimilate the news I read here! 😊