DeepWoodz: From article....”During the workshop, a senior representative of JP Morgan and Buna executive team, will share insights and important information on Buna’s recent success of adding the US Dollar to its diversified list of Arab and International settlement currencies.”
Question for you MM..Is it possible for countries in the AMF which use Buna as their platform, to have internal exchange rate agreements without telling the rest of the world their business?
MilitiaMan: My understanding the AMF likes to keep their cards close to the chest when it comes to specifics on currency exchange rates, if they can and are playing within international rules, I would suspect so.
MilitiaMan: The AMF tells us the valuation of the AAD is 3x SDR / IMF. They don’t get specific from what I see.
What I have seen is them give values of loans in USD terms whereby, one can do the math based I’ve the value and come up with an exchange rate. If I recall accurately there were loans to Tunisia a couple years ago that amounted to over $4.00 USD.
Even today 3x SDR is over that.. As of Friday the SDR at the IMF is over $1.43+.. If they keep to what the AMF has for the AAD, we can have an idea what to look for into the future. Imo..
We know from what we have been told they are not floating the currency. Thus, to be stable they’ll need a strong and stable exchange rate for to do that. To defend a currency at a low rate can be far to risky. The stronger it is the better and easier it is to defend imo.
Let’s see what they decide to show us next. The list of things accomplished now is powerful. E-Government is in place. E-Commerce is in place. Electronic borders for fees, taxes, customs, etc., are all set and ready to go.
E-Payments and settlements... done.... ready to go..
Digital Dinar and Dollar were to have Interconnectivity yesterday with and through the Iraq Trade Bank.. I can presume that is done...
Financial inclusion is done.. The ITB also has the full support of the USA, as does the Central Bank of Iraq. So we can see that by all those items, there is not much left to do other than adjust the exchange rate to meet international standards.
Thus, we can safely presume they have the citizens in mind in the end scheme of things and that is to bring them purchasing power and not more long term inflation.. imo
We are in a very powerful place and no one should be discouraged. I sure am not!! ~ MM
DeepWoodz: Nor am I!!! Just want to finish this thought. IMO So if AMF and Iraq and other kumbayas are keeping it quiet together for now, makes sense how stage 1 and stage 2 can be complete working on stage 3 and we wouldn’t have heard via forex, google, or wherever. If this is a scenario that is possible I don’t know. Just spit balling.
If this is the case, by the time Dinarians like us hear about it, it may very well be the REER!! (Real Effective Exchange Rate)
Samson: Kurdish parliamentarian: The Kurdistan government is delaying the time for not delivering the oil
12:50 - 02/05/2021
The deputy of the Kurdish Hope Group, Ghaleb Muhammad, confirmed, on Sunday, that the Kurdistan Regional Government is stalling at the time in order not to deliver the oil to Baghdad.
"We entered in the fifth month and the budget agreement was about a month ago, and it is still not actually implemented, and this is because the government does not intend to deliver the oil," Muhammad said in a statement to "the information".
He added that "the budget agreement has become effective and does not require visits and technical delegations, and all the belongings are explained in the paragraphs of the law, but the regional government wants to gain time for electoral purposes, and with the aim of maintaining the deduction of employees' salaries, which go to the benefit of the parties of power." LINK
MilitiaMan: This is an article depicting what I was talking about earlier. The parties that get shown to be holding things up in respect of the citizens livelihoods and future livelihoods too.. Making the citizens suffer for political gains can be a double edged sword. My bet is they’ll get the spark they need to get out of the way.. A spark in the wrong place could blow up in their faces especially if to much pressure is applied to the citizens. IMO MM
Clare: PLEASE REMEMBER IN YOUR PRAYERS, WALKINGSTICK ....SURGERY WILL BE 8 AM EST, MONDAY MORNING.... THANK YOU
Samson: Representative economics: 95% of the materials consumed in Iraq are "imported"
14:15 - 02/05/2021
A member of the Parliamentary Economic Committee, Representative Nada Shaker, confirmed, on Sunday, that 95% of the materials consumed in Iraq are imported.
Shaker said in a statement to "the information", that "Iraqis are paying the price for the misfortune and corruption of the successive governments that unfortunately paid for bankruptcy in such a way that paying salaries has become one of the difficult things that the government has resorted to borrowing to secure, even though the country is a first-class oil country and is complemented by mineral resources and a very colossal nature." In addition to human capabilities. ”
He added, "Iraq's economy is primitive and a lot of its resources are wasted, stressing that 95% of the consumed materials are imported despite all the available energies at home, but the absence of planning and the will to take decisive decisions has led us to reach a very miserable stage that has created very high rates of poverty and unemployment."
She pointed out that "the negative economic repercussions strongly pressurize society and will have dire consequences in the near future, especially since the poverty crisis and the suffering of millions of simple people will explode in every great cost of living that has reached a very difficult stage."
And Iraq suffers from a significant increase in corruption rates and confusion in its economic decisions, which affected the conditions of millions of poor people.” LINK
MilitiaMan: The seriousness of this one is the pressure I speak of. Look at some of the language they use. Misfortune! Dire consequences!! All against the poor!! There comes a time when things get drastic, then drastic measures need to be used to counter the negativity of the situation that has been created by the devaluation and massive corruption that has taken place over the years!! The pressure now is in our favor imo.. - MM