"STATUS OF THE RV" BY MNT GOAT, 29 JULY

 PARLIAMENTARY INTEGRITY COMMITTEE, CALLED TO END THE ASSIGNMENT OF THE CENTRAL BANK GOVERNOR, ALI AL-ALAQ

Baghdad Today – Baghdad

Today, Wednesday (July 26, 2023), a member of the Parliamentary Integrity Committee, Hadi al-Salami, called on Prime Minister Muhammad Shia’ al-Sudani to end the assignment of the Central Bank Governor, Ali Al-Alaq, and to appoint a replacement for him, due to the latter’s failure to prevent currency smuggling and control the dollar exchange rates.

(Remember he was given a 90 day proxy position to help with the situation. So, it could be easy for them to fire him. But who will take over? Who is more qualified? Dr Shabibi passed so please don’t say Dr Shabibi…lol..lol..lol.. 😊)

More news….

A GOVERNMENT SOURCE: ERBIL AGREES TO HAND OVER OIL TO THE FEDERAL GOVERNMENT

A government source revealed, on Thursday, that Baghdad and Erbil signed an agreement that guarantees that the regional government will hand over oil to the Federal Ministry of Oil.

(Here comes the Oil and Gas law 😊)

More news….

OPENS 8 FILES WITH THE GOVERNOR OF THE CENTRAL BANK

The Governor of the Central Bank, Ali Al-Alaq, revealed today, Wednesday, measures that will contribute to the stability of the exchange rate, and while revealing the diagnosis of those involved in speculation in the market, he announced the delay in printing a new currency of the 20 thousand dinars category.

He pointed out, “It has been dismissed from printing the category of twenty thousand dinars because of the existence of a category of 25 thousand dinars, and we do not wish to expand the current categories, because the project to delete zeros still exists.” 

STATUS OF THE RV

No RV yet. Who told you it was over? It is not.

So, we heard news in my last Newsletter of the 14 banks sanctioned over the weekend against selling the dollar. Good news no doubt. But here is the problem with this. This was NOT officially done by the CBI but by the US Treasury through the CBI. I have to keep asking important questions. So here are a few – Why didn’t the CBI by itself sanction these banks? Why didn’t they audit them? Why did they wait for the US Treasury to step in?  Do you see the corruption and lackadaisical attitude of the CBI? Yes, this is part of the issue too.

Then, when the US Treasury does step in to help, out of desperation, the corrupt step in and bash the US for their help and insight. This is part of the problem too.

The Nori al—Maliki crooked and fake news media channels then interview these also crooked economists and politicians who are benefiting from the corruption $$$$. They try to give convincing views of solutions. None of these solutions are of course are really going to work, and I think they know it. It would just be another cycle of going around and around again on the dinar merry-go-round. You know why? It because the ONLY solution is to finally liberate the dinar back to FOREX. Let us explore why I say this.

Now I can see many of you other intel gurus may not like what I just said and disagree because you think that liberating the dinar on FOREX is not going to solve all their issues. I agree – it won’t ! 😊 But surely if they can put the dinar back on a level playing field with the rest of the global currencies or just the currencies in the middle east, at least for now, it would help.

So, if the CBI was to put the dinar (in Iraq) under a program rate 1:1 with the dollar or over the dollar this still would not be the solution unless they also reinstate it back to FOREX. I can’t emphasize this enough. Yes, the merchants already can legally use the dinar to pay for imports but is it feasible right now to do so? Why are they still going to the currency auctions for dollars like before? I thought these dinar reforms allowed them to import and pay in dinars?

But who the hell wants the dinar outside Iraq at 1/6 of a penny and when it is still under OFAC sanctions. Who wants the very large notes and the terrorist, corruption stigma associated with them. This stuff lingers in the mind.

Instead, businesses would have to see a liberation of the dinar to create that demand. They would have to have sort of a “frsh start” with the newer lower denominations. But what comes first the chicken or the egg. Get it? Then once liberated and investors begin to suck it up, the merchants in Iraq could then “successfully” use the “national currency” of the dinar to pay for imports. Then the dollar in Iraq  would no longer be useful. Even if the black market did get ahold of the dollars who would want them when they are worth less than the dollar?

So, I know this was a long-winded explanation but these issues take time to explain and are not that simple. So, the question now is this – Don’t you think the US Treasury knows everything I just told you? Don’t you think they see it too? I am not even an economist /expert and I can see it.

So, can you now also understand how the US Treasury can just liberate the dinar and pop out the FOREX rate? This bullshit by many gurus telling you that Iraq first has to build up their economy to strengthen the dinar are crazy people and don’t fully understand the situation. If this was the case you may as well take you dinar and burn them ☹. But his is NOT the case. Get it?

Waiting for the economy to grow, the dinar would never, never RV to the rate we want and would stay on the program rate forever and maybe never even get back to FOREX. In fact ,many corrupt politicians in Iraq want it that way. They do not want progress. They are very happy with their little goose that is laying the golden eggs.

As much as I do not like the bullish and arrogant personality of this guy TNT Tony, I will say he does have it correct in some ways and we are on the same page about how this process is going to work. He agrees with me in that building the economy does not matter. He too sees what I just told you. What I don’t like sometimes is his lack of common sense and over-speculating. For some reason he does not have the ability to see through the fake news he gets about bank sources, memos, etc, and how he is being manipulated and used. I know this as a fact because I know the people who are doing it to him. He seems to be more concerned about hyping it up and spreading rumors rather than realistic attitude.  

So, in today’s news, the economist Nabil Al-Marsoumi said in a follow-up post Alsumaria News and I quote – “the only solution currently available to address the current exchange rate crisis is to return the dollar exchange rate to the pre-pandemic level corona that is, to the level of 1180 dinars per dollar.” Do you see how they don’t even want to address the possibility that the delay and lack of liberating the dinar back to FOREX could be at the heart of the problem here.

Because they have been on this damn program rate and currency auctions too long they forget about what the dinar used to be and how they didn’t have these problems prior to the 1991 invasion. Get it? These currency auctions were meant to be “temporary”. But Pres. Obama changed all the rules in the process to liberate their currency and return it to them. He made it extremely difficult and this as been part of the problem since 2012-2013. Coincidental how Nori al-Maliki raided the CBI under Dr Shabibi?

Coincidental that Pres. Obama just began his second term after getting his feet wet from his first term in office. Why do you think Dr Shabibi could have liberated the dinar way back in 2012-2013? So, this alone is evidence of the screwed-up mindset and thinking about the dinar. They are caught up in a nasty paradigm and somehow, they must step out of it and wake up. I believe the US Treasury has stepped in since last fall 2022 and is trying to help.

Be careful of these economists since they too are probably part of the problem. They too probably have their hand in the proverbial cookie jar ☹.

The VERY good news, however is that the honest Iraqis are waking up and it will very soon become public knowledge that they MUST liberate the dinar and this is the real and only solution. When I talk to my CBI contact I am still told that the Project to Delete the Zeros is “not off the table” and is going to be executed shortly. Of course, jokingly I say will be it be in my lifetime? So, you can see I too am getting a bit sarcastic and impatient.

The citizens of Iraq are protesting outside the CBI headquarters building this week. They want solutions not more run-around. They are tired of promises and so this situation is going to have to change with solid solutions and not more promises.

The Governor of the Central Bank, Ali Al-Alaq, revealed on Wednesday, measures that will contribute to the stability of the exchange rate, and while revealing the diagnosis of those involved in speculation in the market, he also pointed out that the new proposed 20k note has been dismissed from printing the category of twenty thousand dinars because of the existence of a category of 25 thousand dinars, and we do not wish to expand the current categories, because the project to delete zeros still exists. Oh boy I don’t know about you but I have waited since Ali Alaq took over the CBI again for him to say these sweet, sweet words. Now where do they go from here now that the cats out of the bag. Do they move ahead and finally go for it? All we can do is sit tight and wait. It is coming soon and this is yet another good sign that the new governor Ali Alaq is on the reform side and wants what we want.  

Am I going to lie to you and give you what I heard from the CBI myself this week. Nope! I am not going to fall into that trap again. Until I see stronger evidence of a move by the CBI and not just words I will keep it to myself. But I will say this – they told me it is soon not years away! 😊