Madeeandlynndee: Frank, Thank you for the conference call last night. I have a few questions based on what you said. Here goes,
"We should see a rate by the 26th of this month"
Question: how will they show us the budget and what should we look for in the budget?
"Nov 27- Dec. 3rd this is the only opportunity for them to put out a rate internationally. So the rest of the world can see what they have done in their budget."
"Dec. 4th-Dec 10th- 7th inside, the last opportunity for everything."
How can the IMF guarantee the other contracts if Iraq has not proven they are worthy of the second loan?
Also, IMO, they have also proven to the IMF that they are going to increase their currency, otherwise, why would the IMF guarantee other contracts?
Last Question: Will the CBI show the rate on their website, hopefully before Dec. 7th?
Thank you for all of your exhausting time and effort.
Frank26: Dear Friend.......... even if I answered all of these questions you would ask twice as many more because we have gone over these questions at our conference calls many many many times.
Also I did not say we will see a rate I express in my opinion they should release a rate during said time .
Don961: Tuesday, November 22, 2016
Iran Banks Catching Up After Years of Isolation
After years of isolation left them with outdated practices, banks in Iran are trying to fall in line with international norms of transparency, attract more business and integrate with the global industry. The Central Bank of Iran has instructed them to set up compliance departments and risk management programs and embrace globally-acceptable accounting practices so the economy can benefit (as expected) from the easing of international sanctions under the 2015 nuclear deal.
The central bank “felt the need to address and resolve the issues our banks have,” Vice Governor Peyman Qorbani said in an interview on the sidelines of the Frankfurt European Banking Congress. “Good steps have been taken,” Bloomberg reported.
Businesses say the outmoded and opaque practices have created additional hurdles for foreign banks considering working with Iran after the nuclear accord. Major European banks are still wary of resuming business ties with the Islamic Republic for fear of running into remaining US sanctions that apply to non-nuclear activities. Iranian officials say the hesitation is holding up plans to help the economy, despite their country’s compliance with the accord.
Large foreign lenders are mostly hesitating over “the internal housekeeping of Iranian banks,” said Reza Soltanzadeh, board member of the Tehran-based Middle East Bank.
Policymakers have taken “very good measures” regarding capital adequacy ratios and anti- money-laundering procedures, and banks are working hard to comply, he said.
A number of smaller lenders are being audited to “restore trust to the system,” said Soltanzadeh. “But this will take time for the larger banks.”
Iran has both an official exchange rate to the dollar and another rate used in unregulated markets. The implementation of the nuclear accord in January has energized plans to unify the exchange rates, but “long-term and sustainable unification” also needs good corresponding relationship with larger banks, Qorbani said.
“We are taking steps and are not in a rush,” he said. “We want to make sure that the preconditions are there.”
While Iran sees the involvement of large European banks as essential to reviving the economy, it has also expanded its corresponding relationships to 240 banks, including small and medium-size lenders, Qorbani said.
As the central bank nudges lenders closer to international standards, the Iranian legislature is taking steps to strengthen the regulator’s independence and supervisory powers. The measures -- the Central Bank Act and the Banking Act -- are to be submitted “soon” to parliament, Qorbani said.
Short URL : https://goo.gl/WgO1MS
Tuesday UPDATE for November 22, 2016
The new 500 dinar note with the Kurdish language on it is in circulation. Are the 1's, 5's, 10's and 20's next, and if so, how soon?
We patiently wait, "if" it is necessary at all?? Time Will Tell.
kue911 : My best friend has contacts in the green zone. He told me that the cards are activated. We knew this however in the past they could only use them to purchase goods.
Now they can use cards to get LD's (lower denominations) in cash. !!!!!
My friends four star general contact feels we are very, very close!!!!!!
OKRocks: This in effect gives LD's to citizens on the street.
Mangelo: I just think we are waiting for the public announcement of some sort......... or the secret celebration of the start button....
gs13 : I'm hearing Rumblings for today
FingersXed: For your Information, This morning I stopped by my little local bank in a small Kansas town to deposit a couple of checks. While I was there I casually asked the drive-up teller if the bank had received the new U.S. currency yet.
To my surprise she just as casually replied, Do you mean the Christmas money? I nodded to the affirmative, and she said YES!
My assumption is that, she was referring to the new "rainbow/gold backed currency" I hope this is good news to all.
Gypsy-Mojo: The new currency with magnetic strips and more colorful currency has been a 2 year project. Various denominations have entered our use without great fanfare however was noted by various news outlets around 2 years ago. The older bills have been without fanfare being replaced by banks. I recently asked a teller if all
our denoms of the more colorful, mag strip money was in circulation yet and was replied, it has arrived for the holiday season, and soon to be in circulation so simple answer, it was introduced and they have slowly been replaced.
"Expectant" GCR/RV Update Tuesday November 22, 2016
"I am realistic – I expect miracles." --- Dr. Wayne W. Dyer
Final redemption center protocols have been engaged by NPTB this morning--meetings have been constant we're told.
All humanitarian project and prosperity packages were delivered to their respective mangers over the weekend into Monday.
Market rates are live and hot on screens worldwide.
Sovereign rates are available only in private exchange scenarios--and clients must know to ask for higher than screen rates, as well as justify a reason why they are needed.
Media blackout is in effect worldwide with the goal to begin RV before Thanksgiving, yet keep up the appearances of life and business per usual.
There are 3 different divisions for private exchangers:
Edge (5%), Aware(25%), Gifted (70%)
Each division has different roll out assignments for couriers and management protocol.
The plan is to neutralize the leading edge, yet still draw in or attract those who were gifted and are not paying attention--sovereign rates are believed to be enough of a heightened attraction to warrant the community's full attention.
Another goal is to intake 90% of all ZIM notes within the first 2 days, and 80% of all currency notes within the first 6 days--yet still keep the RV from the public's attention and be 70% complete by month's end.
500,000 private redeemers are expected by month's end, with 250,000 exchanging within the first 24 hours.
2.6 million public exchangers expected in total before Cyber Monday (80% IQD holders).
4.4 million total public and private redemptions expected by month's end (November).
8-10 million exchangers total by end of 2016; 12-15 million by end of second quarter 2017; 15-20 million by end of 2017.
All exchange and account hydration releases will commence together--when banks and markets are closed.
An optimal release schedule is for the Thanksgiving holiday on Wednesday night (EDT) after the market and banks have closed (Friday being viewed as an unofficial holiday).
This gives the NPTB enough time (long 4 day holiday weekend) and long enough spending runway (full month before Christmas) to accomplish both objectives--and quietly manage RV rush and hydrate global economy through US consumer purchasing power.
God is with us.