STATUS OF THE RV
Well the RV has not yet happened in Iraq nor has the reinstatement of the dinar. As far as the banks are concerned there is still the US Treasury OFAC sanctions in place on the Iraqi dinar. This is not just my opinion but FACT. Yes, the banks are selling dinar but this is mirroring the internet sales and small brokers not official trading as buying and selling on FOREX on a real sense. Yes, try to go to the bank and exchange your dinar already and see how fast they reject your request to exchange millions.
As you may recall a couple weeks ago, I was told by my CBI contact to expect the new rate on FOREX, however it did not occur, as stated. So, again this weekend I inquired on my weekly call to Iraq and asked what happened. I was told it was stopped due to the US Treasury audits of many of the major banks in Iraq.
As a result of these audits banks were denied dealing in US dollars due to their violation of international standards for foreign transfers in 2022.
Fourteen banks were actually included not to deal in the national currency of Iraq instead to use dollars, which is of wide international use.
Although the restricted fourteen banks from dealing constitute only 8% of their dealings, this will not affect the dealings of our other banks, and that the manipulation of speculators in the black market in manipulating the exchange rate of the Iraqi dinar will not continue and will stop soon because of the Central Bank’s call to the government to the necessity of continued monitoring, auditing, and establishing a mechanism to link the imports entering Iraq to the dollars paid out. What the CBI is doing is to prove the existence of a fundamental and sound external transfer corresponding to its value in order to prevent the use of the black market in obtaining cash dollars from the currency auctions.
So again, this corruption supports the figures for dollar sales on the one hand, and comparing them with the level of domestic demand for remittances and cash on the other hand, shows the existence of a gap that indicates that demand exceeds supply.\
Some of this money in the gap of course goes to Iraqis for international traveling expenses, to pay for foreign university education bills, etc. So don’t let anyone tell you that there is a shortage of dollars in Iraq to pay for imports. This simply is not true. The only shortage that is created is when demand exceeds supply intentionally is for the parallel black market. Some of these economists twist the facts in their articles for what purpose? Why do they do this? Why would the demand in the black market effect the economy? The fact is it shouldn’t. It is all just corruption and so when you read these articles about the shortage of dollars and how it effects the economy and is going to “crash” the economy one must know the truth to see through the lies.
Of course, these economists and so-called experts who write many of these articles want to keep the corrupt dollars flowing since they too probably have a nice corruption scandal going on with the banks and black market or else they are truly in the dark as to the reality of what is going on in Iraq.
The Prime Minister, Mr. Mohamed Shia Al-Sudani, met on Sunday with the Governor of the Central Bank, Mr. Ali Mohsen Al-Alaq, in the presence of the advisors and the General Manager of Investment at the bank.
During the meeting, they discussed the measures taken by the Central Bank with regard to the stability of the currency in the Iraqi market, and the most prominent plans prepared to reform, develop and empower the banking sector to take its role in achieving sustainable development and facing challenges. Due to all the news media coverage and so-called turmoil caused by the bank sanctions last week (some of it all lies), the parliamentary finance committee revealed on Monday the goal of hosting the Governor of the Central Bank of Iraq Ali Al-Alaq, a day after his meeting with the Prime Minister.
So what happened as a result of this meeting?
The hosted Governor of the Central Bank of Iraq, Ali Al-Alaq, discussed the issue of the increase in the dollar exchange rate significantly in the local market, and the bank’s measures to confront this rise. I want to pointed out that the parliamentary finance committee does not have any powers on the issue of dollar measures, this is the competence of the executive monetary authority (CBI), and they only have a supervisory role on those procedures and follow up the imbalance, and they will be held accountable for it, and they will have an opinion on the role of the Central Bank in dealing with the dollar crisis during the coming period. Remember that the CBI told us just a few weeks ago that they had a 4 axis plan to embark on soon to bring the rate of the dollar down and the dinar up. I believe this was only the first step in this plan and so let’s relax and watch the rest play out.
As investors in these 3 zero notes of dinar we must be careful NOT to over speculate as many of these intel gurus do. We can not have an RV everyday or every weekend, yet we still sit here waiting. Where in hell do they get their phony and fake information from? Who is pumping them with this crap? I will tell you…it is some ignorant son of a bitch that does not know his ass from his elbow.
So, also remember once again those 3 sectors effecting the Stock Market Financial Reforms in the White Paper. They were the stock market, banking and insurance sectors. Do you think that this move to sanction these 14 more banks this past weekend were in line with actions to satisfy the White Paper? Can you see it? You have to see it folks!
I really feel sorry for those who have already given up on the dinar revaluation since I know for a FACT they must reinstate the dinar to satisfy their plans to revive Iraq and make it hub for the middle east. This is their plan and they know they have to reinstate the dinar to do it. This is just not Mnt Goat speaking but the IMF, World Bank and the CBI.
So, please, please you have come this far in the process. Don’t give up now we are about to cross the finish line very soon.
IRAQ: Multiple sources of national income, WOW!
Iraq is capable of multiplying sources of national income through multiple sources of economic income in the agricultural, industrial and tourism fields of all kinds, recreational, religious and therapeutic. It was told to through Iraqi news article years ago that the fees for customs and tariffs alone could rival the revenues from the oil. So go figure just how rich Iraq could be if it was not for all the corruption.
Is the Budget Being implemented Already?
Absolutely NOT! Surprise! Surprise! As far as I know the budget was opened but not much more occurred. Until now, the federal budget for the current year has not entered into force, due to the failure to issue instructions for its disbursement,” stressing that the citizens of the region are waiting for the implementation of the budget as soon as possible. Why are they waiting? Could it be they want to limit the corruption or are they waiting for yet another CBI revaluation or maybe both?
So think before you give up on the dinar and sell your currency. The day you sell it and it does RV you will feel like such an idiot.
So, now let’s take a look at the politics in the US and see how it may relate to what we are seeing play out in Iraq. Like I have said dozens of times the corruption in the US is also being played out in Iraq. The US attacked Iraq for what? Was it really just to free the Iraqi people? Could it be to rape and pillage the countries oil reserves and all the money being made off it? Have these corrupt bastards had enough? Some say the corrupt will NEVER have enough. But here comes the patriots who expose the corruption and under the laws send them all packing….. 😊
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