When you feel you know something and you’re passionate about it, it’s important to stick with that. I learned a long time ago from a guy that, trading in gold stocks and stuff, billionaire kind of guy. He just said, look, a lot of times, billionaires and people with a lot of money, they find things, but they don’t necessarily do anything about it, but they buy into it because they know it’s a winner and they’ll sit for a year, ten years, and sometimes more. And that’s what we’re seeing because right now we know that Iraq is about to be one of those investments, if you will.
Iraq and America resume negotiations on the banking sector next Monday. I’m not so sure that banking is the only thing that ALAQ coming there for is to take some banks that have been sanctioned by the United States treasury, the US Federal Reserve, five. Those are the only focus.
Business gets harsh for you. And those bankers over there know that there’s a hierarchy in the world, and banking people know it. And I learned that from that gentleman I told you about, about those gold stocks and gold being at 275 an ounce, and now it’s at 2500.
Interest rates. People don’t realize that interest rates drove the market. The gold market, I believe back in the 1980s and subsequently.com bubble, all of those things came about, right?
What are we seeing? Gold’s over $2,500. $2,500, if you will, please. And that’s kind of important, right?
You have things like the Dow Jones industrial, over 441 thousand. Does that make any sense to you guys? Do you know that the dollar into a basket of currencies is more than a dollar? But everybody says it’s gonna fail, it’s gonna fall apart.
Do they tell you that gold, United States of America has 8133.5 tons of gold? You can find that on the gold council’s website and then compare it to the top three countries and see if they even compare, right? So when people talk about United States doesn’t have any value, I think you guys gotta be careful then you gotta think about, does the United States treasury and US Federal Reserve have any IQDs? Does United Kingdom have any IQDs?
Does Canada have any IQDs? Does Australia have any IQDs? Does Japan have any IQDs? South Korea?
All the coalition forces. Do you think any of them have dinar? What about China?
Tomorrow we’re going to find out. Delegation of the Central bank of Iraq travels to the United States of America to resume negotiations on the banking sector. It says a source familiar with the news said the delegation from the Central bank of Iraq will start its negotiations with the us side on the current 26 August in America.
the central bank has moved to sign a contract with Oliver Wyman, Oliver Wyman International to present a plan on reforming the banking, or the private banking sector over the next six months. Well, if you think about it for a minute and say, wait, didn’t Ernst and Young have a contract to do all of these things back in January of 2024? Sure they did.
And we also have some data that shows that they’re talking about. Alak was talking about the final portion of that contract, which is the real estate bank merging with the housing fund.
That includes a merger of some banks and the cancellation of license licensing of some other banks. Okay, so this particular Oliver Wyman may be working in conjunction with Ernst and Young. I could see that happening because that’s what he’s talking about right there.
They speak of negotiations over the bank licensing issues. We know that there is an account called the iraqi two account which will give them the ability, I don’t know, to trade internationally at some point.
But is there going to be, if they’re going to be trading internationally, is there something that needs to be done and being prepared for hooking up the ISX stock exchange to the Nasdaq, for instance, or going to the forex prior to that? There’s a lot of things that are coming to fruition if you go to that article four consultation, 68 page document. What are they talking about? The whole document is talking about private sector.
Just open the document, google it, find it. Private sector, and you’re just going to go private sector. Private sector control, f key type in private sec.
I don’t know if there’s 30 to 60 pages of every page is talking about the private sector of Iraq. So you guys please pay attention. They’re bringing value to their currency.
That’s the whole idea of this whole thing. And it’s really coming together quite quickly. So basically, here’s an interesting thing is like, well, how do you value a country? What’s it based off of?
If the country’s valued off of their natural resources, You got to do a collective analysis. You got to value it. There’s been people as far back as I think, 2003, 2004 that literally worked on a feasibility study on the country of Iraq.
The bottom line is, is that it’s been a long time since then, but we’ve been watching it flow ever since. I didn’t become on board, even though I learned about that study that was done previous, but I didn’t get involved until about 2010.
So about 14-15 years, real close. That that’s going on is that I believe because the IMF was the one, the document, I think it was 198 page document that showed 322. That was. That was what they showed.
That’s what they potentially could reinstate at. I’m like, wow, okay.
Iraq is the 9th largest buyer of gold in 2024. Interestingly enough, if you guys remember back, I think it was a few years ago, probably 2018, 2019, they found 43 tons of gold at the sirium border. Truckload. A huge truck of 43 tons. I don’t know if you guys have been in the mining industry, but they rate trucks by tonnage. Some trucks are 50 ton trucks, sometimes are 100 ton trucks.
I mean, think about it for a minute. Hundred tons. Okay. They have them at 200 and 5260 ton trucks.
One load. Okay. In this particular case, it was solid gold, 43 tons.
So anyway, get my point, though. But they told us that we had, I think, well, let’s put it this way. I believe to be really accurate is that they had 132 tons in 2023.
In 2024. They’re telling you they just bought 100 tons of gold this year. Where’d they get all the money for that? Did they claw it all back?
Did they get that from, you know, clawing back, all the corruption, the, you know, the crime of the century, all of a sudden they have enough money to buy at somewhere between, let’s call it 2000 and 2500 bucks an ounce, 100 tons. The good part about it, what it does is it supports the value of their future, real effective exchange rate.
Why is the, the IMF talking about appraisals? Appraisal. Endorsing an appraisal of the country.
I mean, if you think about it, what does an appraisal do? Do you have an app? You ever had an appraiser come to your house or come to your business, appraise your property? What does he do?
He gives you a market value to some degree. There’s definitely different definitions of value, but in this case, what are you talking about? You’re talking about the valuation of a country. That’s what they’re talking about.
Appraisal is what. It’s a valuation.
IMF article 420 24. They do, well, they talk about that stuff. They don’t talk about it like in a more broad sense or literal sense to the degree that it’s going to give away inside information or anything. But keep in mind it’s powerful.
So, to be fair, look, basically what these guys are saying, they bought a bunch of gold. It says, we cannot underestimate the great efforts being made now to give another picture of the iraqi reality. So by buying gold, they’re given another picture, considering that it is a mistake to obstruct the path of reform and proceed with the real building of the country. So they are going against anybody that’s going to obstruct their reform process and rebuilding their country.
It says that what is al Sudani’s government including an emphasis on a set of main points, including addressing poverty, of course, unemployment, combating financial and administrative corruption. They’ve been heavy on that, combating unemployment, which they’ll do in the private sector, just like the IMF has been talking about, and subsequently all the people, the institutions that are working with the IMF, providing opportunities, activating the role of investment agencies and promoting industry.
Accelerating the reconstruction of liberated areas and improving health services for citizens. let’s accelerate this, let’s get the reconstruction effort going and improve the health and services for citizens, basically. What have they been doing? They’ve been cleaning up the corruption.
Has it been an arduous task? It sure, probably has for al Sudani, but it looks like it’s paying off in more ways than one. Look, if they’ve bought, if they’ve clawed back enough money to help buy 100 tons of gold, man, there’s been some heavy, heavy corruption. And I’m assuming that their recent income from non oil revenues has probably had something to do with it as well.
The United States of America has a massive amount of natural resources. Again, I think we don’t get credit for it, but I’m not going to go down that path. But nor does Iraq because they have some of the largest deposits of phosphates and sulfur and they have some massive world class gold supplies. They have rare earths, they have a liquid natural gas.
And they also talk about tourism because they all generate income through it. And then all the goods and services that are going to go through that development road project that are going to come from China into Europe, okay, they’re going to go through the development road project. And so you’re going to find taxes and tariffs at the borders that is going to be a lot of revenue.
And so keep it in mind. So what does it do? Why would they be talking about appraisals? So all these income streams, okay, not just oil.
So oil. Washington, when Iraq was back in the Saddam Hussein era, it has been considered a little bit overpriced. Should have been more about $2.80.
It’s a 1310 right now. 1320. There’s a big difference, you guys. But now you have to add all those things I just mentioned, the valuation of a country.
That’s what they have to do. There’s different agencies. The IMF knows that. They endorsed it says specifically in that 30, 68 page document they endorsed their staff’s appraisal of Iraq.
Could it mean something different than what I’m talking about? Possibly. I doubt it.
Road has now paid for investment companies, so they say in the road is now paid for investment companies to which the contracts have been awarded to invest in Iraq gas associated with oil extraction operations, in addition to investing in gas fields, to contribute to effectively with national efforts in gas investment operations. So they’re basically going to be allowing these guys to move forward and exploit their oil and gas.
ministry signed about ten official contracts with international companies in 13 oil and gas sites in the central and southern governance of Iraq. And that was dated today. Baghdad’s preparing.
Baghdad is preparing. And the question is, will the arab tourism capital be a platform for Iraq’s return to the forefront? Well, it says here the file criteria nominating Baghdad as the arab tourism capital for the year 2025 is a technical file par excellence related to the infrastructure owned by the state in various fields in health, civil defense and tourism. So again, we’re talking about revenue streams, non oil revenue streams.
Tourism part of the process. Right. Taxes and tariffs at the borders, valuation oil, liquid natural gas, right. Phosphate, all those minerals.
Which companies are doing that work? When did they get started? Why did Ernest and Young get started in January? You got to think, you got to think ahead, man.
It’s really important that you pay attention because there’s so much information that supports everything that we’re talking about here is that Iraq is going to be a dominant force in this world. They’re going to, they are in effectively proving to the, to the world over a period of time. You might not see it, but they’re saying they were going to be a financial savior effectively for the international financial system.
They have so many assets. They have so much, so much, so many assets that they can do what they said they were going to do. Al Sudani wasn’t lying when he said the dinar is going to be stronger than the dollar. He didn’t say at what number he was going to do it at.
Baghdad’s file will be voted as the capital of tourism. They go on to say that they’ve been nominated as the capital for the year 2025. What is the aim?
The aim is nominating Baghdad is to enhance the position of leading sustainable tourism. One of the major things is to undertake improving the infrastructure and developing the quality of tourism services. But they go on to say with the increase in number of visitors, the revenues, the revenues of various sectors such as hotels, restaurants and tourism services will increase which will contribute to creating new job opportunities and improving the infrastructure. Do you guys see where this is all going?
It’s showing you that they’re developing this whole system so much more complex than just going turn the button on. They had to get everything ready to go, so basically what this file will do, enhance investment in the tourism sector. And as it’s related to infrastructure leading to sustainable development.
Those are the buzzwords that are from the IMF, the World bank of international settlements. Increased economic growth.
Basically, they’re getting to the point where economic experts are staying. Choosing Baghdad as the capital of our arab tourism will bring great economic benefits to Iraq and to the surrounding areas while contributing and stimulating the national economy. I mean, it’s going to be impressive. Increasing tourism revenues and stimulating local and foreign investments.
So I would say buckle up, get ready and pay attention to what goes on in New York City in the next 24, 48 hours to see if we’ve missed anything. Basically, of course, not to be on its side. You guys realize that Baghdad dates back centuries.
They’ve massive amounts of ancient artifacts returned to their country, United States inclusive, what, 30,000 pieces just from the United States alone. So basically the babylonian civilization is going to be reshown to the world again. Basically. What are they going to be doing?
This whole idea is going to be boosting international confidence in Iraq and encourage a greater engagement with international communities because they’re going to want you to come and visit the country and say, this is what we have to offer. Because they’ve been under the thumb for so long, it’s time they deserve it. Pivotal steps that they’ve taken towards comprehensive Iraq’s comprehensive renaissance.
That’s the headline. Sunday the imminent visit of the governor of the bank, central bank Ali Alak, United States of America to resolve issue of iraqi banks deprived of the dollar. I’m fairly sure that’s not the only thing. But the bottom line, Alak, is to New York City of the United states.
And what are they going to be doing? They’re going to be having several meetings with the US Federal Reserve and US treasury several meetings with the US Federal Reserve and the US treasury over those banks. That’s all.
These iraqi banks are not being punished, but are only being deprived of dealing in dollars. So if the banks are the only thing they’re coming for. So Alak made all this way, all this different stuff to not punish any banks. Does that really make sense?
There’s got to be deeper to that, you guys. Alak’s visit comes to lift the deprivation as well as discuss protecting the iraqi banking system and supporting its stability. Oh, so they come out and tell you the truth now there’s more to the story, discussing protecting the iraqi banking system and supporting its stability.
They’re talking about discussing and protecting the iraqi banking system and supporting its stability. Obvious there’s more going on than they’re telling you.
In my opinion, it’s noteworthy that the governor of the central bank, Ali Alak, settled his controversy Wednesday, August 7, 2024 regarding the reconsideration of the dollar exchange rates. Why are they talking about the dollar exchange rates? Because the United States does that. We do what we do with our currency.
Was there not a council of ministers meeting on the 6th? I think if we look back, we’re going to probably find out there’s something happened on the 6th that got to the 7th, and it was regarding these things. So what? It says there’s no intention to reconsider the dollar exchange rates.
Central bank sells more than $250 million daily at the official price.
Well, of course they do. Why? Because they’re importing stuff. And what are they doing it through?
Are they doing it in the black market or are they doing it in the new platform? Okay, I would have said the newer platform. Controlling inflation. What have they done?
Iraq’s been controlling inflation. So in other words, the loppers out there, they’re just like out of control. They won’t quit.
So here it says we will reach 100% of foreign transfers without going through the US Federal Reserve by the end of the year. Well why do they say something like that? Because everybody and their brother that’s going to be going through doing stuff they don’t need to go through the Federal Reserve anymore. The correspondent banks are going to take care of that because why?
Because they all have a platform that is fully vetted. They’re not going to need to do that. Okay. It saves, saves the Federal Reserve, saves the US treasury, saves the central bank, for instance.
Even correspondent banks are going to be handling that. As far as I can tell, central bank is undergoing major transformation process for reorganizing foreign trade. Our procedures in foreign trade are being carried out for the first time with the participation of international institutions. So now they’re working with international institutions to carry out foreign trade. So they’re doing it on in a manner that’s internationally accepted. So in other words, they’re bypassing platforms because they can, because they’re transparent.
Does that mean that they have the blockchain technology? Is that what they’re doing? Is that electronic, digital payments, real time growth settlements digitally?
Says there are small traders outside the system who are putting pressure on the market. Black market, probably a mechanism to regulate their trade is about to be launched. Oh, so something’s about to be launched to squelch that. So are they going to raise the value of the currency of the iraqi dinar to a point that they won’t be wanting to buy dollars or no need for it other than for travel?
Specifically for travel. Says we’re focused on getting everyone involved in the proper fundamental channels. So yeah, we are involved in getting the proper fundamental channels and we’re focusing in on it.
All right. He goes on to say commercial foreign transfer operations are subject to review by the specialized international company. So once again they talk about that. Meetings in New York at the end of August.
