KTFA CC HIGHLIGHTS, FRANK26 & DELTA, Wednesday, Feb 6, 2019 “International, International, International!”
[Frank]: International, International, International! All of this call is in my opinion.
Means they have lifted 3 zero’s from their rate or they could not be doing all they are doing International right now.
The US is the one doing this. President Trump is riding that beautiful camel that is Iraq. Taken out his whipping stick and getting the camel to move . . . faster than normal.
CBI of Iran has announced they have IQD reserves. Then Iran’s PM announced he wanted to make an agreement with Iraq.
[Delta]: Might see something from the CBI before you see the budget.
[Frank]: Donald Trump went over there and basically slapped them verbally.
In the last couple of weeks all the things that have happened. Iran does not send money to Iraq. Iran steals money from Iraq through the central auctions and through the GOI that has their goons that have been stealing. All of that is gone. All of that is ancient history. We are International baby.
[Delta]: CBI does not interfere with the GOI’s economic policies.
[Frank]: This accomplishment is another reason why we are very positive they are Article 8. IMO . . . the Gazette has the budget and the reason why IMO is they are about to reveal they are article 8. They are International!
Dubai Quality, another ME International relationship. Dubai Quality has just announced early this morning that they have entered into a strategic partnership with the Central Bank of Iraq. Not at a program rate. It’s illegal. This is an International step. You are not allowed to walk into that environment unless they have lifted the three zero’s from their exchange rate. Dubai Quality, this is another example of Internationalism.
Member said WS and Frank 26 both said the budget has the new rate. We also said that the rate if not shown in the new budget can be retroactive to the 1st of January,
2019. . .Whether it’s shown I don’t know. It could go retroactive.
[Delta]: Walking stick. . . has a contract of Dec 30th at 1:1.
[Frank]: It cannot be at a program rate.
[Delta]: We’re very, very close.
[Frank]: You darn right we are very, very close! The RI of the Iraqi Dinar does not need the budget. The budget needs the reinstatement. That’s why everything is going before the reinstatement. That’s why it’s confusing to many people.
They are doing this backwards because they have to. Everything is being set up. The tableware, the tablecloth, the dishes, the silverware, the china. Set everything up and then we seat, then we serve the meal.
The RI does not need the budget! The budget needs the RI. And that’s why the RI came out first and that’s why it’s positioned and that’s why they are International and about to make the announcement, IMO of course.
The Iranian Central Bank is doing International transactions with Iraq with their own specific currencies. . .There are a lot of things that are screaming International!
Iraq is going in the right direction that the USA wants them to.
You saw our President gave a speech last night. You saw the disgusting faces of those who did not want nothing to do with the President’s agenda. That is sad. We had eight years of what I didn’t want. I don’t really recall as much anti-Americanism as I saw last night.
I did see a President trying to motivate his country, his people. That’s what a leader does. He shows a face of encouragement. A face of respect.
Wednesday Night KTFA CC 2-6-19
The first part is business Promo and the second part is Dinar/Iraq Intel
PLAYBACK # : 641.715.3639 PIN: 156996# or 641.715.3579 PIN: 319183#
DELTA: Iran Claims Iraq Will Pay Its Debts, But U.S. Sanctions Make It Hard
February 07, 2019
One day after Iran’s Oil Minister Bijan Zanganeh complained that Iraq has not paid billions of dollars for its imports from Iran after the re-imposition of U.S. sanctions, Iran’s Central Bank Governor told reporters that he has reached an agreement with his Iraqi counterpart about the payments.
The chief banker Abdolnasser Hemmati arrived in Baghdad Tuesday evening for negotiations regarding bilateral banking relations and the payment of Iraq’s debts for the electricity and natural gas provided by Tehran.
Hemmati told Tasnim news agency on Wednesday that a mechanism for the payments has been finalized thanks to an agreement he signed with his Iraqi counterpart Ali al-Alaq. The agreement, Hemmati said, also covers payments for Iraq’s other imports from Iran.
He said that based on the arrangements made, payments for natural gas, electricity and other commodities sold to Iraq by Iran will be made based on “payment orders” issued by the Central Bank of Iran. Iran’s Tasnim news agency quoted Hemmati as saying that the central bank will create accounts in Euros and Iraqi dinars to facilitate payment for exported natural gas and electricity.
In addition, Iranian companies can work through Iraqi banks and Iranian banks can open dinar accounts in Iraq. He was quoted as emphasizing that these measures will expand banking cooperation between Iran and Iraq.
But no further explanation was provided as to the exact mechanism, if any, of actual fund transfers and a timetable for Iraqi late payments.
U.S. sanctions prohibit importers of Iranian products to repatriate cash money. Iran can sell its oil or natural gas but the money stays in the importing country and Iran can only use the funds to buy food and medicine as allowed under the sanctions’ regime.
What will Iran do with Iraqi dinars even if accounts are opened at Iraqi banks and payments made? This remains unclear. Iraq is not known as having surplus food or being a major medicine producer.
The Iranian Central Bank governor also said that “The U.S. has waged an economic war against Iran in order to disrupt Iran’s economic and political situation,” adding that sanctions have created problems for Iranian exporters.
On Tuesday, Iran’s oil minister Bijan Zanganeh said Iraq imports monthly $200 million worth of natural gas from Iran but Baghdad has not been paying its debts after the United States re-imposed its sanctions on Iran last autumn.
Zanganeh added that Iraq owes Iran some two billion dollars but Iraqi officials say Baghdad is unable to pay its debts because of sanctions.
Speaking on Iran-Iraq cooperation in developing their shared oil fields, Zanganeh said: “We suggested to Iraqis that we could develop the Khorramshahr and Naftshahr oil fields together but they rejected the offer.”
He said, “Iraq is not sanctioned and has no limitation for working with international companies,” however, he doubted whether Iraq would sign an agreement with Iran as this might subject Baghdad to secondary sanctions.
He also said that Iraq has unilaterally terminated its oil swap arrangement with Iran based on which Iraq delivered oil from Erbil to Iran across the border and Iran sold some oil in the Persian Gulf on behalf of Iraq.
Iraq’s total commercial transactions with various countries are around $190 billion per year, out of which 14 billion dollars is trade with Iran, which includes buying electricity and gas from Tehran.
The United States has given a waiver to Baghdad until the end of March, which makes it exempt from the ban on trading with Iran, so that Iraq could purchase its electricity and gas requirements from Iran. However, international energy market experts say Iraq needs a year before stopping its gas purchase from Iran and finding alternative suppliers. The question is that having waiver, why Iraq is not paying Iran.
Iraq buys 10 billion cubic meters of natural gas from Iran annually and more than 5 terawatts of electricity (5billion megawatts) for a total of nearly $3 billion a year. Since last March, Iraq has also imported $7.5 billion of Iranian rpoducts.
On January 1, the Iranian Parliament’s National Security and Foreign Policy Committee Chief, Heshmatollah Falahatpisheh criticized Iran’s “negative economic performance in Iraq and warned that Iran as a player will be replaced by Turkey and Saudi Arabia in Iraq’s market.
Referring to the outcomes of a recent committee meeting entitled “Iran’s economic strategy in Iraq and Syria,” Falahatpisheh said that if Iran loses its economic links in those two countries, whatever Tehran has gained in the political and military arena there will be lost.