KFTA – More News, Rumors and Opinions Thursday PM 11-16-2023

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Clare:  A source for “Al-Iqtisad News”: Private banks and exchange companies express their preparations to reduce the exchange rate

11/16/2023 Baghdad

Today, Thursday, a source revealed moves being made by the private banking sector and exchange companies aimed at raising the value of the dinar against the dollar.

The source, who preferred to remain anonymous, said in an interview with Al-Eqtisad News, “ Private banks and exchange companies are showing great preparations, collectively and in coordination, to reduce the price of the dollar ,” noting that “this will be through expanding engagement with the official market and its high capabilities.”

He added, “There are ongoing meetings to discuss several options that the market will undertake by itself to impose stability in the exchange rate  LINK

Clare:  Provides financial and political support.. The European Bank (EBRD) welcomes Iraq’s membership

11/16/2023

The European Bank for Reconstruction and Development (EBRD) announced that Iraq has joined it, becoming the 74th country contributing to the bank after Baghdad had applied for membership in April 2018.

The European Bank stated in a report on its website, translated by Shafaq News Agency, that Iraq has become the newest member of the bank, after the Board of Governors approved its membership in October 2020, while the process of transitioning to shareholder status in the bank has now ended.

The bank explained that Iraq, as a shareholder, can apply to become a recipient economy category, and can thus benefit from the financial and political support provided by the European Bank for Reconstruction and Development, indicating that this application will be reviewed by the shareholders in a separate process.

The report stated that during the bank’s annual meeting this year in the city of Samarkand, the Board of Governors agreed to amend the agreement establishing the bank to allow the expansion of the bank’s operations in Iraq, adding that once the amendment enters into force, the bank will be in a position to follow up on any request from Iraq to become an active country. The bank is in it.

The report pointed out that the decision of the Board of Governors in Samarkand also means integrating Iraq into the bank’s southern and eastern Mediterranean region, with which Iraq has strong economic relations.

The report quoted the bank’s president, Odile Renaud Basso, as saying, “I am pleased to welcome Iraq as a member of the bank. We are fully committed to dealing with the country, and when the time comes, we look forward to starting work in Iraq and applying our expertise to develop its economy.”

The bank’s report pointed out that its activity in the southern and eastern Mediterranean region began for the first time in the year 2012, specifically in Egypt, Jordan, Morocco, and Tunisia, and then in 2017, its activities extended to Lebanon, the West Bank, and the Gaza Strip in Palestine.

The report concluded by noting that the European Bank provides support to countries undergoing transitional stages, through a combination of investment, advisory role and policy reform, in addition to the Bank’s focus on developing the private sector and achieving sustainable change for a better future.

 He added that the bank is currently focusing its efforts on supporting Ukraine, and helping the economies of member states transform into a more environmentally friendly, digital and inclusive manner.  LINK

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Courtesy of Dinar Guru   https://www.dinarguru.com/

Jeff    You’re like, why hasn’t Iraq revalued?  They’ve gotten everything done?‘  And they do!  Iraq has everything done.  They’re ready to revalue but they’re not going to revalue till they tackle corruption…They have to remove this corruption.

Militia Man  The Hydro-Carbon Law will require an international exchange rate.  The 2023, 24, 25 budget will require it.  The salaries and the payment to the citizens will require it.  The WTO will require one.  The house contracts will require one.  The Development Road Projects, economic and financial reforms, all of them are going to require an international acceptable Article VIII compliant exchange rate

Dave Kranzler: Brutal Banking Crisis To Launch Gold And Silver

Arcadia Economics:  11-16-2023

After the banking crisis earlier this year there’s been a relative sense of calm in the sector. There have been some smaller failures since then, but so far we’ve avoided a wave of collapses like what we saw throughout March and April. But does that mean the coast is clear and the worst is behind us?

 In today’s show Dave Kranzler lays out why he does not think that’s the case, and the data that supports his view.

He looks at the inner mechanics of the Federal Reserve’s Bank Term Funding Program, explains what the program has really done, and points out the signs of why the brunt of the issue is not in our rear view mirror.

Of course he also talks about the impact he believes that future banking issues will have on the gold and silver markets, as well as how it will impact the gold and silver mining stocks.

With gold and silver rallying again this morning, amidst a growing probability that the Fed may well have completed its interest rate hiking campaign, today’s video provides a look into what will be coming in the months going forward.

So to find out more, click to watch this video now!

https://youtube.com/watch?v=UinSAfNVqGI%3Ffeature%3Doembed%26enablejsapi%3D1