Clare:  Economist: Discordant voices benefited from the attack on private banks through the media

2/6/2024   Baghdad

The economic expert, Alaa Al-Fahd, on Tuesday accused those with discordant votes of inciting the street and the media against private banks to harm the national economy.

Al-Fahd said in a televised interview followed by Mawazine News, “These parties spread rumors that there are banking problems in the private sector in Iraq and that there is chaos and fraud,” pointing out that on “the ground there is nothing tangible from these rumours.”

He added, “Private banks began working since 2023 in financial development and transformation within a transitional phase from paper to electronic phase.”

Al-Fahd continued, “These parties, whether local or regional, are working to inflame the situation or spread false news to frustrate the resolve within banking institutions.” LINK

Clare:  The Association of Banks talks about a conspiracy to hit the Iraqi economy through rumors

2/5/2024 Baghdad

Advisor to the Association of Private Banks, Samir Al-Nusairi, on Monday, accused malicious parties of tampering with the Iraqi economy and the private and public banking sector by exaggerating the political and security crises in the country.

Al-Nusairi said in a televised interview followed by Mawazine News, “The Iraqi private and public banking market is facing malicious rumors, as certain parties are exaggerating security and political problems for the purpose of striking the national economy.”

He added, “The conspiracy against the Iraqi economy aims to abort the Iraqi government’s efforts to improve economic transfers, deal with the dollar, and complete the economic exchange platform project to finance foreign trade.”

He pointed out that “the Central Bank and the government are continuing with reform plans, especially the paragraphs of the government program to prevent dollar smuggling and support the private banking sector.”   LINK


The UN Security Council holds its session on the situation in Iraq

The UN Security Council began, Tuesday evening, holding its session on the situation in Iraq. LINK


Mnt Goat    …I talked to my CBI contact…I was told the rate will be determined just as it has been determined all along by the new asset backed Quantum Financial System (QFS) now in place. It was put in place from 2011-2012 and now running daily. Only technically they have not yet linked or mapped these new rates into the foreign currency exchanges as of yet. This is what we are waiting for. Not all the rates will come over at once and many call them “baskets” or “groups” of currencies. The plan is for the years to come to slowly roll out these new rates and map them to the foreign exchanges as the new market rates…   [Post 1 of 2….stay tuned]

Mnt Goat  …the rate will be whatever it is in the QFS system when the time comes to reinstate it.  This will be the starting rate. All they need to do is bring it over to FOREX by mapping it from the QFS. It is a simple process.  It will most likely be around $3-$4 when it does come out…Yes, when the IQD rate does come out, it could vary but only a drastic change in the price of oil will affect it. However, the projection is for the price of oil to hover around $70-90 this year which will still produce an IQD rate well within the range we investors want…  [Post 2 of 2]

BRICS nations to drag US back into the gold standard? Feat. Ron Branstetter

Kinesis Money:  2-3-2024

In this week’s episode of Live from the Vault, Andrew Maguire is joined – a popular request – by Ron Branstetter of Ron’s Basement to discuss the accelerating pace of change that silver stackers should experience in the months to come.


00:00 Start

03:00 Ron’s thoughts on the price of silver right now

06:30 Momentum traders willing to pay over the odds

12:45 China going directly to miners to buy gold and silver – bypassing the COMEX & LBMA

17:40 Under-investment in the silver mining industry

19:30 Dedollarisation process coming to a head and triggering the gold reevaluation

29:45 EU central bank gold ownership relative to GDP; are they preparing for something?

38:00 The opportunity for US citizens to reclaim the right to sound money

41:30 Could BRICS nations drag the US back into the gold standard?