Confidence is important in trading and having investment. You really do need to understand and know what you own and so that you don’t have to worry. And I don’t like to see anybody worry, and I don’t like to worry. But anyway, interestingly enough, confidence is a big thing.
Why am I with a dinar? Well, again, it’s a long time study. You guys can see that collectively that I’ve been picking out little bits and pieces. And one of the things that caught my eye today.
It’s not intense like this last bit. The last few days have been really intense, but Al Saudani discusses some things with Sadr. Well, if you know who al Sadr is, he can put a million people in the streets in a matter of minutes, almost days. That’s a true statement.
And. But he’s been awfully quiet. And I think one of the reasons why Al Sadr, he’s a cleric and he has a street following that means something, because the street over there is all some of the younger populations, some of the poorer populations, but they believe in him.
He was a patriot of his own country. He proved that during the Gulf wars and such and his background. The street likes him. Give him kudos where that belongs.
As far as our personal opinions, in the United States of America and Great Britain to be, you know, I’m not saying that just because there’s, you know, bloodshed happened. That’s all there was to it. But on a bright side, he’s for his people. He is a patriot.
And I think he and Sudani prime minister have the same passion for helping the people. They’ve been at it now for about 18 months, almost going on two years, and we see the results now of al Sudani. So when I saw al Sudani yesterday meeting with al Sadr. And at the time we’re at right now with, with the reforms coming down into the wire, it’s all about the citizens and the services and getting things, and you’re gonna see there’s some.
There’s an article or two out tonight that basically kind of give you guidance in a sense of the thought process of what they expect. I believe that iraqi dinar is going to change value, and I believe that the citizens believe that, too. I believe that al Sudani has literally spoken those words, be careful with the dinar. It’s going to be stronger than the dollar.
So he said those things on a couple of occasions and also realised, though, that there’s certain things they talk about. They tell you that there’s certain laws in place that it’s effectively illegal to trade commercially in the US dollar within the country. Now, converting currencies to from one another countries is one thing, and depending on where that money is coming from, is another thing.
So ultimately, the goal is to have commercial use of the dinar in country for commercial use and digitally. And I think that’s why you’ll find that some of these people out there in Iraq are being vocal. Some of them are wanting to hit the streets and demonstrate. And it’s even the educated, it’s the highly educated, the teachers and such that are talking about, we know what we expect.
We know what’s going on, and we know what is supposed to happen. They probably have a good idea of what the legal aspect is of the budget. Remember the budget, the 23, 24, 25 budget, tripartite budget for investment? They haven’t exposed it yet, have they?
It has an exchange rate sensitivity to it. And basically the general situation of the country and the service of the living, the rights of the living and the citizens is what their focus is on, is making sure that they have development and prosperity. That’s their key.
That’s one of their key things that they’re talking about.
I was just saying about Al Sadr and those guys with prosperity and development. Well, the development road. The development road project is going to be massive development.
Al Sadr knows that, and he’s going to have that on his mind when all those thousands and tens of thousands of jobs come meandering in not only for the locals, but also for the foreign investors and foreign people that come in because they’re looking for a better life. The place is going to grow. It’s going to be an amazing event because it’s an ancient civilization. They have so much to offer.
I believe they are talking about is that they have an expectation of getting those electronic cards and getting a new exchange rate applied to those. These folks are educated. They have probably a lot of good understanding of what we’re talking about is that the project to delete the zeros is real and are they going to follow through with it? And the answer apparently is yes, because they haven’t denied it.
So ultimately, I think what we’re seeing here is that they know that the budget has some requirements that need to be done. And they were probably expecting it yesterday and or today because they’re writing about it. The meetings of the financial supervisory board or at the bureau in the governments of the region. In Baghdad, in Erbil, they smacked the last nail in the coffin of my account project.
The demonstrators will fill the streets and squares and call on Erbil and Baghdad to settle their salaries. So they’re sounding like they want to do this on the 25th of this month. That’s not too far off.
They say that the Kurdistan region employees suggesting the possibility of intervention and benefit of the regional government, especially with the recent clarification issued by the federal Supreme Court. The Supreme Court has ordered these guys to take care of business. The Federal Supreme Court is probably saying that you need to change the value of your currency and you need to do it quickly or you may should have already done it.
The procedures for the settlement of the salaries of the region’s employees are proceeding slowly, contrary to the decision of the federal government or the federal court and the decisions of the Ministry of Finance, which provided the. So the law provided for the acceleration of the localizations of salaries and their disbursement electronically.
That is the kicker right there is what they’re talking about is disbursement electronically. And that’s why it gives me the view is that when they’re dealing with cash, they’re talking about what’s on the street today. It’s 1310. Disbursement electronically is going to be, is, could very well be different in the sense that what these folks are talking about demonstrating is you should have already changed the exchange rate.
Talking about disbursement electronically, they’re talking about doing financing commercial projects digitally. Well, you’re going to have to have an internationally acceptable currency to go on to the forex.
The article shows a federal court decision is in respect to salaries are to be localised and their disbursement is to be done electronically.
The citizens know what to expect and they have confirmed it and are openly upset about it. The pressure is now on the finance ministry, central bank of Iraq, al Sudani.
Iraq is opening the largest steel plant in Basra. Not terribly important, but it’s noteworthy to know that Iraq is going to have a massive income stream, many different revenue streams, and one of them is going to be, I think a lot of you guys are pretty smart out there, know about inputs and outputs, but in this particular case, steel is going to be something that they’re going to need to rebuild their country.
The reconstruction of it, whether it’s bridges, whether it’s buildings, whether it’s housing, it’s going to need steel, rebar, concrete, all those things. And this company is going to be able to produce all that because they have the raw materials to do so. Then they’re also going to be able to have the ability to export that to other countries of the world.
It says the next article I’ve got is called is about the barcodes. Electronic encryption.
That closes the routine gap. What are they talking about? They’re talking about the barcode. They go on to talk about the birth of the idea, the identification.
They talk about, you know, QR codes, the difference between, you know, what is a QR code? It’s a quick response code, what the barcode is, the differences, actual appearance of them, what are the simple features.
In addition to all the other things that it does, it says that to be moving away from paper transactions and closing outlets for illness and gain in forgery. So the barcodes are, is part of their system that is just going to be a part of their digital transformation.
Barcode, QR code is going to be part of that transformation. It’s important for businesses and I’ll get into that. Basically there’s blockchains and other high technologies that Iraq’s going to be using are going to be a part of in the future. We see the likes of JP Morgan dealing with XRP today.
We know that JP Morgan is involved in Iraq, we know JP Morgan is involved with the Buna platform, we know that the technologies is a facilitator for doing currency transactions with about every asset class there is on the planet. So obviously there’s a lot of good news out about the blockchain. They’re openly talking about artificial intelligence, they’re talking about blockchain in Iraq.
They’re talking about being the saviour of the global financial system, If you remember when al Sudani talked about to the undead who was at the meetings in Davos, JP Morgan.
So the power that’s behind all this of the global initiative to bring back Iraq into the fold of the world financial system is definitely 100%, in my view. And just as an FYI, I pulled up a little bit of information about barcode.
Barcodes QR codes are important in international business because they help product tracking, supply chain management and more. So what is that about? Is now something that some of these things that they’ll be talking about is because of the World Trade Organisation, Iraq’s having a session at some point in time. I mean, they’ve met all their requirements, so we just haven’t seen it yet.
Is that because they haven’t exposed their article eight compliance yet to the world with an in with a new currency exchange rate?
Barcodes QR codes help businesses track products for manufacturers to consumers, which helps ensure product quality integrity, supply chain management. So barcodes QR codes help businesses supply their I their supplying supply chains more efficiently with inventory management, restocking warehouse costs. Barcodes and QR codes are standardised to ensure that they can be scanned and interpreted consistently across different devices and countries.
So I won’t get into all of them, but when I say devices and countries, then the World Trade Organisation stuff really kind of makes you, you know, brings it to the forefront, doesn’t it? I’m pretty sure that’s what it does. Oil products, a move to generalise payments by electronic cards and governance.
Now, the reason why I’m bringing this one up at the end is because, look, they are going to, in a digital transformation, they’re going to a cash less society. And one of the biggest, that a country uses is fuel to get back and forth to work, fuel to mine gold, fuel to mine sulphur, fuel to mine everything. They need fuel for tankers, they need fuel for all the stuff for heating, they need gas, fuel for producing electricity.
So now all the payments are going digital and they’re doing it electronically. Just like for every one of those transactions, because all the people, eventually they’re going to have to use their cash to put it in their bank and then the central bank can basically pull that out of the system. Because they’re using digital cards. So all that fuel, they can sop up all that money. You kind of get it. They can sop up all those triple zero nodes.
They’ve been doing it since 2018. So you can see how the digital transformation is.
The electronic payment is one of the pillars of the government programme and the oil products distribution company has played a role in it by using it to fill fuel and purchase its products by citizens. Work is ongoing to enhance the electronic payment file by adding full automation to the distribution sector.
They’re looking at going full automation to one of the largest segments of product in the world. Basically says oil products distribution company is the first government company to initiate electronic payment as it began the trial operation back in 2023. And once it was, completed, it was launched in all governance.
The trial operation was completed and then they’ve now launched it in all governance. So it says they feel by at least by the end of this year, it should be completed or based up by the plans that they have drawn up in equipping, all fuel stations with electronic payment devices and ending cash, and that part ending cash transactions. So eventually you might not be able to buy fuel with having a credit card or a debit card.
