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Thread: Here we go!!

  1. #181
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    Role of he Dollar

    From pg. 14 of this thread... 9/22/18
    European Commission President Jean-Claude Juncker called on Wednesday for the European Union to promote the euro as a global currency to challenge the U.S. dollar.
    “We must do more to allow our single currency to play its full role on the international scene,” Juncker told the European Parliament in Strasbourg as he presented his annual program.

    “It is absurd that Europe pays for 80 percent of its energy import bill – worth 300 billion euros a year – in U.S. dollars when only roughly 2 percent of our energy imports come from the United States,” he said.
    “It is absurd that European companies buy European planes in dollars instead of euro,” he added. While Norway prices its substantial supplies to the EU in euros, an EU official said, other countries use dollars. Among the most important of these are Gulf states and Russia. (now we all see putins driving need to money launder, and find accomplices. No one wants his rubles).

    Now, the Special Purpose Vehicle...

    The SPV was conceived as a clearing house that could be used to help match Iranian oil and gas exports against purchases of EU goods, circumventing the U.S. sanctions, which are based on the global use of the dollar for oil trade. The EU wanted to have the SPV set up by this month, but no country has offered to host it, six diplomats told Reuters last week.
    The European Union, France, Germany, Britain, Russia and China, participants with the United States in the 2015 deal that lifted sanctions on Iran in exchange for curbs on its nuclear program, have been trying to find ways to circumvent the U.S. limitations. In particular, the EU has been trying to establish a Special Purpose Vehicle (SPV) for non-dollar trade with Iran.


    they are GREEN with ENVY over the Dollar's role in global trade.
    I stay far away from politics, but they should really be focusing on this. In some agency I'm sure they are, but it would feel better if they let us know that.

    $
    Last edited by dollarsign; 11-19-2018 at 12:12 PM.

  2. #182
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    Iraq is on the list

    https://www.bis.org/fsi/publ/insights11.htm

    The Basel framework in 100 jurisdictions: implementation status and proportionality practices1
    Executive summary
    The Basel regulatory framework comprises a set of minimum global standards that are designed, in principle, for internationally active banks. As such, national authorities have the flexibility to determine the regulatory requirements for non-internationally active banks operating in their jurisdictions. In practice, Basel standards are imposed on a wider set of banks in many jurisdictions

    This paper surveys 100 jurisdictions that are not members of the Basel Committee on Banking Supervision (BCBS) on how far they have adopted key prudential requirements of the Basel framework and, if so, whether and how they apply proportionality in their regulatory regimes.
    As countries shift to the more complex Basel III RBC regime, greater differentiation andmore extensive proportionality strategies are applied.

    from the CBI site (arabic download) on Nov. 18


    To
    all licensed commercial banks ( the capital adequacy adequacy controls in accordance with the
    Basel III requirements )

    Integration to the global financial system from the highest levels of authority is
    good.
    The currency can't be far behind...

    $
    Last edited by dollarsign; 11-24-2018 at 06:51 PM.

  3. #183
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    From...To

    From the Strategic Framework Agreement

    Section V: Economic and Energy Cooperation
    Building a prosperous, diversified, growing economy in Iraq, integrated in the global economic system, capable of meeting the essential service needs of the Iraqi people,
    To...

    NOVEMBER 25, 2018 / 1:39 AM / UPDATED 5 HOURS AGO

    Trade Bank of Iraq, StanChart, GE close $600 million power finance deal
    DUBAI (Reuters) - Trade Bank of Iraq, Standard Chartered (STAN.L) and General Electric (GE.N) closed a $600 million financing agreement to fund a power project in Iraq, the trio said on Sunday. Aimed at delivering more than two gigawatts of new power to Iraq, the ‘Power up Plan’ was part of the country’s rebuilding and modernization scheme, the parties said in a statement.


    The currency will follow...

    ​$
    Last edited by dollarsign; 11-25-2018 at 08:28 PM.

  4. #184
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    One day after this announcement
    NOVEMBER 25, 2018 / 1:39 AM / UPDATED 5 HOURS AGO

    Trade Bank of Iraq,
    StanChart, GE close $600 million power finance deal
    DUBAI (Reuters) - Trade Bank of Iraq, Standard Chartered (STAN.L) and General Electric (GE.N) closed a $600 million financing agreement

    Commemorative Banknotes issued by
    Standard C
    hartered appear on the CBI site, accompanied by a document (arabic) from the CBI
    Perhaps just Public relations, but timely for sure.

    $

  5. #185
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    Quote Originally Posted by dollarsign View Post
    $600 million

    $

    we should take note that this announcement is scaled/negotiated with a bank ( Trade bank ) in Iraq as in US Dollars not IQD Dinars, yes?
    E Pluribus Unum
    This note is legal tender for all debts, public and private.

  6. #186
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    Convergence...

    Right. Their largest source of income is in Dollars, major infrastructure projects priced in Dollars, at some point, there will be some convergence between the currencies. The gravity of one, pulls the value of the other towards it.

    $

  7. #187
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    jockey for position

    BRUSSELS (Reuters) - The European Commission published on Wednesday non-binding proposals to boost the role of the euro in international payments and its use as a reserve currency to challenge the dominance of the dollar.
    The Commission admitted the dollar dominance was due to higher liquidity, lower transaction costs and its use as a benchmark in commodities and derivatives markets - prerogatives that can hardly be challenged in the short term.
    __________________
    Oil is The commodity essential for global commerce, so it looks like this is going to bother them for a while as they've stated before. I'm watching this, along with Brexit news, as the Euro and Pound were listed as two of the five currencies to be used in the basket for calculation of the value of the the IQD. These two tracks could certainly have short term impact on the dinar, but in any case, the Dollar will carry the heavier weight in the basket.

    $
    Last edited by dollarsign; Yesterday at 10:38 PM.

  8. #188
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    Priorities

    Iraqi PM focuses on oil, economic opportunities with US Energy Secretary Perry


    He emphasized “the importance of developing bilateral ties between Iraq and the United States in all fields and the necessity to expand cooperation in the fields of energy, oil, and economic priorities put forth by the Iraqi government on its list of work priorities in a way that could lead to the growth and flourishing of Iraqi economy and the best investment for its natural resources.”

    $


  9. #189
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    Current example...

    Here is a current example of how large denomination notes could be withdrawn from a system without disruption. It could serve as a model given that the CBI lists lower catagories, coins, and fils on their home page search window, but doesn't illustrate them yet.

    After 26 January 2019 most central banks from the Euro System will stop issuing 500 euro (EUR500.1) banknotes.

    Deutsche Bundesbank and Österreichische Nationalbank will continue issuing them until 26 April 2019.
    After these dates 500 euro notes deposited to banks will not be reissued.The notes will continue to be legal tender without time limit.
    Source: dw.com

    $

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