[size=30]MilitiaMan Sunday Night "A Flip of the Switch May be All that is Needed" 10-24-2021[/size]
KTFA:MilitiaMan: Now Iraq is clearly telling us they have digital currency and it will be tracked to the penny. I find this article (See Below) to be very timely and to be expected. They took out the 1,000 - 10,000 notes and in the past we witnessed them destroying 25k notes in a filmed interview on the matter
By them taking out the notes, they'll need to have replacements, hence, the need for an adjustment to the new digitized currency is looking to be needed more now than ever before.
In my view they must be in a hurry now.. Lets see what they do next. I suspect that with them having experience in digital currency, as noted by the recent article, a flip of the switch may all that be needed .. lol ~ MM
Al-Kazemi's advisor comments on a report on "digital currencies" and warns against one of them
24th October, 2021
Adviser to the Iraqi Prime Minister for Financial Affairs Mazhar Muhammad Salih revealed on Sunday that there are two types of "digital currencies" globally, referring to the "official" of one of them.
Shafak News Agency, through its report, published yesterday, Saturday, provided details of a new "digital currency" that entered the regions of western Iraq, the price of which reached more than 24,000 thousand US dollars, amid an unprecedented turnout of the population.
Saleh told Shafaq News Agency, "There are two types of digital currencies, one of which is called cryptocurrency," noting that "it is a system outside the control of central banks and financial markets, and it is traded through its subscribers and founders, so that there is a commodity exchange and coverage of transactions outside the control of international financial supervision."
He added that these cryptocurrencies are considered "illegal, in some countries because of economic freedom, as some accept them and others reject them." He warned that "these currencies are closer to hierarchical companies that give big money, and then collapse after that because they do not have an economic basis, but rather are financial speculation," explaining that "it is like a bubble and its risks are many."
Regarding "official digital currencies", Saleh stated, "The other world is heading to global digital currencies issued by global central banks, which are sought to be established by 3 global central banks, including the European Central Bank (the euro), the United States (the dollar) and China for its currency (the yuan)."
He pointed out that "these digital currencies are important because they will reduce the cost of transactions because the free cash in circulation has a problem such as movement and storage, and therefore this cash will be a number controlled by the central bank."
He added, "This type of digital currency will have a high level of transparency, as the central bank will be able to know the dinar that comes out from where, and goes to where, meaning that it has the ability to monitor financial behavior up to a penny." He pointed out that "these digital currencies at the same time will lose the privacy of transactions with their secrets, which is a kind of domination and human control, which is the closest thing known to the globalization of the digital financial system."
He stressed that "this globalization is considered dangerous because it will control not only companies, but even the individual, and it is part of the subjugation of the countries that deal in this currency, and the movements of people will all be known despite its transparency, but it is mandatory, as it is digital to preserve people's rights, except it will be under financial supervision by central banks."
Shafak News Agency, earlier, investigated a "digital currency" that entered the Anbar Governorate in western Iraq, and spread widely amid the people's desire to invest in it, amid religious fatwas that declared its sanctity and warnings from specialists.
******************
Al-Kazemi’s advisor comments on a report on “digital currencies” and warns against one of them LINK
***************
LINK
G7 countries agree common principles on digital commerce
21st October, 2021
Britain announced today, Friday, after a meeting of trade ministers in the Group of Seven countries, that the countries of the wealthy bloc agreed on a set of principles governing the use of cross-border data and digital trade.
Britain explained that the G7 countries oppose digital protectionism and authoritarianism, "and today we have adopted the principles of G7 digital trade, which will guide the G7's approach to digital trade," according to the Middle East News Agency.
The agreement lays a middle ground between the heavily regulated data protection systems of European countries and the more open approach of the United States.
She added that the principles cover open digital markets, cross-border information flows, and protections for workers, consumers and businesses.
It also covers digital trade systems and fair and inclusive global governance.
"We must address undue obstacles to transcontinental data flows as we continue to address privacy, data protection, and protection of intellectual property rights," said a document accompanying the meeting.
"This agreement is a real breakthrough that came as a result of hard diplomatic effort," said a British official familiar with the deal.
****************
U.S. Department of the Treasury
Office of Public Affairs
Press Release: FOR IMMEDIATE RELEASE
October 13, 2021
Contact: Alexandra LaManna;
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with G7 Finance Ministers and Central Bank Governors
WASHINGTON – Secretary of the Treasury Janet L. Yellen participated in an in-person meeting of the G7 Finance Ministers and Central Bank Governors today. G7 Finance Ministers applauded the historic deal between 136-nations that will reshape the international tax system and equip the global economy to meet the needs of the 21st century.
Along with her counterparts, Secretary Yellen endorsed the G7 Public Policy Principles for Retail Central Bank Digital Currencies (link) and the G7 issued an accompanying statement on digital payments (link). She also expressed her strong support for efforts to channel Special Drawing Rights (SDRs) to further support vulnerable economies, including the rapid establishment of a new trust fund at the IMF to support economic transitions related to pandemic preparedness and climate change. G7 Finance Ministers also discussed the macroeconomic implications of climate change and the importance of resilient global supply chains.
****************
U.S. Department of the Treasury
Office of Public Affairs
Press Release: FOR IMMEDIATE RELEASE
October 21, 2021
Contact: Treasury Public Affairs;
FATF Works to Strengthen Financial Transparency, Combat Misuse of Virtual Assets
FATF Approves Public Consultation of Revisions to Beneficial Ownership Standards and Updated Guidance on Virtual Assets
WASHINGTON — The Financial Action Task Force (FATF) concluded its October plenary today, the sixth session since the start of the ongoing COVID-19 pandemic. With hybrid participation both virtually and in-person in Paris, FATF advanced its core work on virtual assets, beneficial ownership transparency, and illicit finance risks.
“The United States welcomes the significant work by the FATF to enhance beneficial ownership transparency and provide clear standards and guidance for the virtual asset industry,” said Secretary of the Treasury Janet L. Yellen. “The FATF’s work will continue to strengthen global action against illicit finance.”
Virtual Assets Guidance
The FATF approved for publication an updated version of its Guidance on a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers. The guidance is intended to help jurisdictions and the private sector to implement the FATF’s standards on the virtual assets sector, which were revised in 2018. The FATF’s Virtual Assets Contact Group, the body that undertook this revision and which is co-chaired by the United States and Japan, will now focus its efforts to promote implementation of the standards.
Proposed Changes to Beneficial Ownership Standards
The FATF agreed to publish for public consultation proposed revisions to Recommendation 24, which sets the FATF standard regarding beneficial ownership transparency for legal persons. These proposed revisions are intended to improve the quality of beneficial ownership information available to law enforcement and other authorities in a timely manner, facilitate international cooperation, and improve transparency around public procurement to combat corruption. The U.S. strongly supports these enhancements to Recommendation 24 to increase beneficial ownership transparency.
**************
LINK
Iraq requests removing its name from the high-risk countries
The mission of the Republic of Iraq to the European Union announced today, Wednesday, that Iraq has met all the FATF criteria for removing its name from the list of high-risk countries.
The 5 and (to) 10 thousand dinars denominations disappeared from the ATMs
Saturday 23 October 2021
Baghdad: Mustafa Al-Hashemi
Recently, there have been cases that the citizen was not familiar with, since the spread of ATMs throughout Iraq, represented by the disappearance of small and medium groups (from 1000 to 10 thousand dinars), which may bring back to the scene the scene of mistrust between the public and private banks, specifically, because of The latter's failure to provide all cash denominations in its ATMs.
Citizen B says: I (employee) “When I receive a message or a notification on my phone that my salary has been launched, I immediately go to the nearest ATM to withdraw the salary for the purpose of fulfilling my financial obligations that require cash (cash).
i added. To “Al-Sabah” that “the ATMs of the bank to which I settled my salary, are devoid of small and medium cash groups (1000 to 10 thousand dinars), and I do not know the reason, although withdrawing them as liquidity may differentiate among some who complain of the deterioration of their living conditions.”
MilitiaMan: The information on the digital transformation that is upon is everywhere. The amount of top level work completed now is main stream and straight from the highest in Finance in the world. They are openly talking about Retail Digital Currencies, digital cross border payments, etc..
With them even showing that the 1,000 - 10,000 notes are disappeared from the ATMs is very telling.
With the UST telling us the G-20 have 136 countries in agreement on digital International Taxation and a flat tax, the cross boarder data and digital trade noted by the G-7 today, it is not surprising that they would be adjusting for the NSCNs to replace those the 1,000 - 10,000s.
The need for them will diminish with a new international exchange rate applied. It doesn't take long to replenish ATMS. The goal is not to worry the citizens, the goal is to make them happy with the new purchase power that the new smaller notes will bring.
Notice they use the words INCLUSIVE GLOBAL GOVERNANCE!!! That is because the digital transformation is approved and on stage for all to see.. IMO there is nothing to stop it now.. Lets see what they show us next.. ~ MM
" It also covers digital trade systems and fair and inclusive global governance."
****************
Frometad: Thank you very much for your analysis MM. Always appreciated.
MilitiaMan: Your very welcome.. There is reason to be excited! We have been talking about the digital transformation for some time now.
Today, even Salih has things to say about it. The evidence is quite clear they have every intention to be digitized, down to their currency.
It is no secret anymore that the world is going to be operating at a far more advance pace then many ever thought could take place now, or, effectively ever. Yet, the UST, G-7, G-20, etc, are showing us that is not the case and with 136+ countries being on board with it too.
So, what can we expect going forward? Global interconnectivity.
We have been told by the CBI / AMF that they have successfully cleared the Euro with the Jordanian Dinar (JOD).
My understanding is that success story was not the only story to be successful, there were and will be more. The communication system will require the cross border payments to be transparent, fast and secure. And it is.
So, now we just have to watch and see how long they can last with out 1,000 - 10,000 k notes, let alone 25k notes.
Fairly sure they told us they have been paying citizens electronically and as recent as this past week, so if everyone that gets electronic payments now will be ready for the switch over to having less cash on hand. I'll be looking to have a little more.. lol ~ MM
Today at 7:33 am by Rocky
» The Governor of the Central Bank and the French Ambassador discuss developments in the banking secto
Today at 5:18 am by Rocky
» Al-Bajari: Iraqi companies will have a great opportunity to work after opening the door to investmen
Today at 5:16 am by Rocky
» Transparency: Imports from Sulaymaniyah and Halabja during the past week amounted to more than 10 bi
Today at 5:13 am by Rocky
» Al-Sudani: The delayed projects left great damage to the level of services in Babylon
Today at 5:12 am by Rocky
» Economist: The fluctuation of the dollar is “the balance of speculators”
Today at 5:10 am by Rocky
» {Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq
Today at 5:08 am by Rocky
» A former MP accuses Türkiye of transferring its conflict with the workers to Iraq
Today at 5:05 am by Rocky
» A call to the Sudanese to remove American forces from Iraq
Today at 5:03 am by Rocky
» Oil Parliament: Ankara holds Erbil responsible for the oil fines it owes
Today at 5:02 am by Rocky
» The government is silent...the reality of removing American forces from Iraq
Today at 5:01 am by Rocky
» The radiation protection law in the first session of the next legislative term
Today at 5:00 am by Rocky
» A Spanish company raises controversy and a representative reveals a parliamentary movement against i
Today at 4:59 am by Rocky
» Sudanese officially requests the end of the United Nations mission in Iraq / documents
Today at 4:58 am by Rocky
» Because its sessions were not held, the Kirkuk Council faces a judicial complaint, and its members d
Today at 4:56 am by Rocky
» Former US Chief of Staff: We slaughtered huge numbers of innocent people in Iraq and other countries
Today at 4:55 am by Rocky
» The Association of Private Banks counts the percentage of shares traded on the stock market during a
Today at 4:53 am by Rocky
» The European Union and Iraq agree to increase cooperation between them
Today at 4:52 am by Rocky
» American Bank: Expectations to increase Iraq’s oil capacity in 2025
Today at 4:50 am by Rocky
» Central Bank Governor to the French Ambassador: The plan to restructure government banks will change
Today at 4:48 am by Rocky
» Integrity confirms working to conclude a memorandum of understanding with the Kuwaiti Anti-Corruptio
Today at 4:47 am by Rocky
» Highlights of the Prime Minister's visit to Babylon
Today at 4:46 am by Rocky
» The Minister of Transport discusses with a Turkish delegation the latest developments in the develop
Today at 4:44 am by Rocky
» Free of charge.. Issuing approximately 13 thousand unified cards for those covered by social protect
Today at 4:42 am by Rocky
» A parliamentary committee advises the government to deter trespassers: Slums are one of the reasons
Today at 4:41 am by Rocky
» Embassy Protection confirms to “Baghdad Today”: The missions are safe and we have taken proactive me
Today at 4:38 am by Rocky
» Water resources resolve the controversy of the “Wadi Al-Tea” project.. It will nourish the Hamrin ic
Today at 4:37 am by Rocky
» After approving the National Security Strategy...a parliamentary movement to host “responsible” figu
Today at 4:36 am by Rocky
» Al-Hakim calls for the distribution of plots of land to the families of the martyrs of the Popular M
Today at 4:34 am by Rocky
» Order 160 Committee completes the “port scandals” papers... and searches for a legal outlet for impl
Today at 4:33 am by Rocky
» It revealed the details of its contract with four companies to complete the census requirements... P
Today at 4:31 am by Rocky
» Egypt, Morocco and Qatar praise the Iraqi Integrity proposal to establish the Arab Law Enforcement C
Today at 4:30 am by Rocky
» The Iraqi Parliament enters its legislative recess and requires holding an “extraordinary” session o
Today at 4:28 am by Rocky
» The Sudanese has not rested since the morning.. He carried out 12 activities and allocated a trillio
Today at 4:27 am by Rocky
» Blinken's agent: Erbil is a strategic ally of Washington in a 360-degree relationship
Today at 4:25 am by Rocky
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
Today at 4:24 am by Rocky
» A leader in the framework: There is no need for early elections...the “legislative” elections will t
Today at 4:23 am by Rocky
» Parliament decides to extend its legislative term by 30 days
Today at 4:22 am by Rocky
» Iraq has the tenth worst economic growth in the world during the last 5 years
Today at 4:19 am by Rocky
» Al-Hakim: The future cannot be mortgaged to volatile oil prices
Today at 4:17 am by Rocky
» It will change the reality of Iraqi banks.. Al-Alaq reveals a plan that enjoys Sudanese support
Today at 4:15 am by Rocky
» MM&C 5/9/24 The Federation of Chambers of Commerce and the European Union discuss cooperation to fin
Yesterday at 9:27 am by Rocky
» MM&C 5/9/24 Customs, security and economic aspects
Yesterday at 9:24 am by Rocky
» Union of Arab Banks: Iraq's environment encourages investment
Yesterday at 6:57 am by Rocky
» Government advisor: Movement to recover bad debts for the benefit of the Iraqi Trade Bank
Yesterday at 6:55 am by Rocky
» The International Development Bank announces the opening of its new branch in Erbil
Yesterday at 6:52 am by Rocky
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
Yesterday at 6:50 am by Rocky
» Budget delay: the cry for help for paralyzed services and disrupted dreams
Yesterday at 6:47 am by Rocky
» Oil: Completion of projects to improve the quality of petroleum products, and others are under imple
Yesterday at 6:44 am by Rocky
» Chairman of the Securities Commission: 3 million shares, average daily trading volume
Yesterday at 6:43 am by Rocky
» Tamim calls on the countries participating in the meetings of the Arab Administrative Development Or
Yesterday at 6:41 am by Rocky
» Parliamentary Endowments: 39 thousand pilgrims, Iraq’s share, and waiving the religious obligation i
Yesterday at 6:39 am by Rocky
» Washington refers to Iraqi legislation that “does not harm” his international presence, and Baghdad
Yesterday at 6:34 am by Rocky
» Deputy: Extending the legislative term depends on sending the budget schedules
Yesterday at 6:30 am by Rocky
» Parliamentary Legal: 88 draft laws on the parliamentary shelf
Yesterday at 6:29 am by Rocky
» The head of the movement denies any Iraqi-American negotiations to remove the coalition
Yesterday at 5:23 am by Rocky
» A deputy expects to resolve the issue of electing the Speaker of Parliament next week
Yesterday at 5:22 am by Rocky
» Obtaining the approval of the Minister of Electricity to fill the energy shortage in Dhi Qar
Yesterday at 5:21 am by Rocky
» Economist on the decline in dollar prices: My time and it will not reach its official price
Yesterday at 5:20 am by Rocky
» The Iraqi Ministerial Council for National Security approves the 2024-2028 strategy
Yesterday at 5:18 am by Rocky
» Mulla Bakhtiar: Nechirvan Barzani's visit to Iran melted the ice between Erbil and Tehran
Yesterday at 5:17 am by Rocky
» Password "78"... Why did the Sudanese government's interrogations and noisy sessions decline?
Yesterday at 5:16 am by Rocky
» JP Morgan forecasts an increase in the oil capacity of Iraq and other countries in 2025
Yesterday at 5:15 am by Rocky
» Turkish Minister of Transport: The development road will cost $20 billion
Yesterday at 5:13 am by Rocky
» The Supreme Committee for Reconstruction and Investment approves a package of strategic projects
Yesterday at 5:12 am by Rocky
» Work: Preparing a unified national strategy to create job opportunities for youth
Yesterday at 5:11 am by Rocky
» The Prime Minister's financial advisor reduces the risks of the budget deficit
Yesterday at 5:10 am by Rocky
» Sudanese announces the signing of an agreement with Japan to finance small and medium enterprises in
Yesterday at 5:09 am by Rocky
» Government Advisor: The Securities Commission represents the governance base for promoting financial
Yesterday at 5:08 am by Rocky
» A unified national strategy to create job opportunities for youth
Yesterday at 5:07 am by Rocky
» A one-week deadline to decide the position of Speaker of Parliament
Yesterday at 5:06 am by Rocky
» Parliament: We coordinate with the competent regulatory authorities to examine medicines
Yesterday at 5:04 am by Rocky
» The Commission suspends the Kurdistan Parliament's voting procedures
Yesterday at 5:03 am by Rocky
» $100 million to localize the pharmaceutical industry
Yesterday at 5:01 am by Rocky
» Increase in external remittances at the Central Bank
Yesterday at 5:00 am by Rocky
» A government advisor reduces the risks of a budget deficit
Yesterday at 4:54 am by Rocky
» Culture: We seek to invest in the stability of the country to advance the tourism sector
Yesterday at 4:53 am by Rocky
» Integrity announces the results of a questionnaire on bribery in real estate registration department
Yesterday at 4:50 am by Rocky
» Parliament comments on Sudanese plan to restructure the government apparatus: It needs radical refor
Yesterday at 4:49 am by Rocky
» The dollar rises again against the Iraqi dinar in Baghdad
Yesterday at 4:45 am by Rocky
» Politician: The government does not deal transparently with the issue of expelling the Americans
Yesterday at 4:43 am by Rocky
» A government bank participating in an accounting project
Yesterday at 4:42 am by Rocky
» Masrour Barzani: The Kurdistan Regional Government has implemented all its obligations and duties
Yesterday at 4:41 am by Rocky
» French Consul: France strengthens relations with the Kurdistan Region
Yesterday at 4:39 am by Rocky
» Studies Center: Sudanese faces the challenges of maintaining sustainable relations with the United S
Yesterday at 4:38 am by Rocky
» “The absence of democracy is not possible.” The federal government remains silent on the postponemen
Yesterday at 4:37 am by Rocky
» Taqadum Party: The absence of the Speaker of Parliament disrupted the general amnesty law
Yesterday at 4:36 am by Rocky
» The file of oil export through Turkish territory is under the control of politicians
Yesterday at 4:33 am by Rocky
» For the sake of the position of president and the budget schedules... there is a preference for exte
Yesterday at 4:32 am by Rocky
» “If you bring the equipment, let’s begin.” Revealing the secrets of Erdogan’s visit to Iraq and the
Yesterday at 4:31 am by Rocky
» Parliamentary moves to approve the Human Organ and Tissue Bank Law
Yesterday at 4:29 am by Rocky
» Electricity embarks on an 11-axis plan to develop the energy sector
Yesterday at 4:27 am by Rocky
» Al-Asadi announces work on legislating a law on occupational health and safety
Yesterday at 4:26 am by Rocky
» Al-Rasheed: Increasing the amount of loans for restoration and maintenance of buildings to 50 millio
Yesterday at 4:25 am by Rocky
» Under the chairmanship of Al-Sudani, Reconstruction and Investment agree on projects related to elec
Yesterday at 4:24 am by Rocky
» Baghdad and Tehran.. New discussions regarding railway connectivity to transport visitors between th
Yesterday at 4:23 am by Rocky
» Immigration: Our plan focuses on the voluntary return of displaced persons and rejecting their house
Yesterday at 4:22 am by Rocky
» An Iraqi trade delegation in Iran to facilitate the export of agricultural crops to Iraq
Yesterday at 4:21 am by Rocky
» Sudanese launches work on the Union Mills Project in Babil Governorate
Yesterday at 4:19 am by Rocky