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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    "Stripping economic sovereignty"... Canceling the platform and leaving 5 banks alone with the dollar

    Rocky
    Rocky
    Rocky
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    Posts : 282968
    Join date : 2012-12-21
    • Post n°1

    "Stripping economic sovereignty"... Canceling the platform and leaving 5 banks alone with the dollar Empty "Stripping economic sovereignty"... Canceling the platform and leaving 5 banks alone with the dollar

    Post by Rocky Wed 11 Dec 2024, 3:59 am

    [size=35][size=35]"Stripping economic sovereignty"... Canceling the platform and leaving 5 banks alone with the dollar[/size]
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    In video

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    2024-12-11 | 03:00


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    Banks, companies and traders have not yet secured their stability on the new mechanism represented by the electronic platform for the currency sales window, which required a long time until the requirements and guaranteed mechanisms were met for the transfers to pass without obstruction by[You must be registered and logged in to see this link.]American, but it seems that the crisis of volatility and instability will continue to haunt the field of currency sales and foreign transfer, which may affect the stability of[You must be registered and logged in to see this link.]Currency in[You must be registered and logged in to see this link.].


    Since the start of the implementation of the electronic platform in early 2023, it is a platform for auditing transfers before they are implemented, after it was[You must be registered and logged in to see this link.]American checks remittances from[You must be registered and logged in to see this link.]Issued by[You must be registered and logged in to see this link.]After its implementation, many banks, companies and merchants faced many difficulties in being able to keep up with the new mechanism for transferring the dollar. Over the course of two years, these banks underwent a lot of training and passed many tests to finally be able to deal with and stabilize with the new system.



    Stopping the electronic platform.. How will the censorship be?
     
    However, two years after the start of the implementation of the electronic platform, which was a shining star especially during the past year due to the devastating effects it caused on the exchange rate and the rise in its prices in the parallel market, the Central Bank of Iraq is preparing to stop dealing with the electronic platform.. But.. this may raise a surprising question, not just a question.. Have the Central Bank and the US Federal Reserve abandoned monitoring?[You must be registered and logged in to see this link.]After everything that happened over the past two years?

    [You must be registered and logged in to see this link.]It will not be monitored.. It will be in the hands of limited banks that have "international relations"
     
    In fact, abandoning the electronic platform is actually abandoning censorship.[You must be registered and logged in to see this link.]But not leaving it to return to its previous randomness, but leaving the supervision because[You must be registered and logged in to see this link.]It will be in "safe hands" as the US Federal Reserve and the central bank believe, as transfers[You must be registered and logged in to see this link.]It will be limited to a limited number of banks that are not guaranteed or distinguished by anything other than having international banking relations.

    The electronic platform is living its last days.. Transfers are only for those who have correspondent banks
     
    Yes, with this exact phrase, the electronic platform will be stopped starting from the beginning of next year 2025. This means that the electronic platform is living its last days after two years of controversy that it caused. As for the issue of transferring...[You must be registered and logged in to see this link.]It will be limited only to banks that have what are known as "correspondent banks".

    5 banks that have correspondent banks..[You must be registered and logged in to see this link.]Doesn't come to[You must be registered and logged in to see this link.]After now
     
    Only about 4 to 5 banks in[You must be registered and logged in to see this link.]Have relationships with correspondent banks outside Iraq, the transfer process will be[You must be registered and logged in to see this link.]Confined only to the limits of this narrow circle, the dollar, which is the main source of income[You must be registered and logged in to see this link.]He won't come to[You must be registered and logged in to see this link.]Again, dollars[You must be registered and logged in to see this link.]You will get out of[You must be registered and logged in to see this link.]To correspondent banks located outside Iraq, these banks receive transfer requests from the four banks located in[You must be registered and logged in to see this link.]Which will completely control remittances.

    5 banks control 95% of remittances and will "exclusively" control them next year
     
    On average, the number of banks participating in a currency auction is[You must be registered and logged in to see this link.]And the implementation of foreign transfers, only about 15 banks out of more than 70 banks operating in Iraq, but only 5 banks have correspondent banks abroad, and these five banks control 95% of the transfers, while the other 10 banks share the remaining 5%.

    The banks that have acquired the currency auction are "Jordanian, Qatari, Kuwaiti and Emirati"
     
    But the biggest problem is that all of these five banks are non-Iraqi banks, and the majority of their shares are owned by other Arab countries, as these banks are divided into a Jordanian, Qatari, Kuwaiti and Emirati bank.

    $12 billion in 9 months.. One of the five banks acquired 25% of the transfers alone.

    For example, the share of one of the five banks, of the dollar currency window, during 9 months of this year, amounted to more than $12 billion, which means $1.3 billion per month. It is known that the average monthly sales of the Central Bank of[You must be registered and logged in to see this link.]It amounts to about 5 to 7 billion dollars, which means that about 25% of the Central Bank’s sales are from[You must be registered and logged in to see this link.]It is owned by one of these five banks alone.

    2025 and the cancellation of the platform.. the year of the acquisition of remittances and “the theft of economic sovereignty”
    Accordingly, next year will be the year of the acquisition of the currency auction by only 5 banks, which raises concerns about the possibility of the remaining banks going to meet the requirements of their customers to the parallel market, which may lead to a return to the rise[You must be registered and logged in to see this link.]In Iraq, as well as restricting imports[You must be registered and logged in to see this link.]With correspondent banks all subject to American banks and through Arab banks, it can be considered a "theft of economic sovereignty."

    This report is part of the "Alsumaria Harvest" program presented by Ward Al-Muzani and prepared by the "Alsumaria" newsroom, and airs every Friday at 8:30 pm. To watch the full episode,[You must be registered and logged in to see this link.]

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