Thursday, October 12, 2023
Al-Sudani: Iraq hopes to join the BRICS group, 12 OCT
Al-Sudani: Iraq hopes to join the BRICS group, 12 OCT
On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani expressed Iraq’s readiness to join the BRICS group if invited by the founding countries.
During a dialogue session with representatives of the Iraqi community in Moscow, Al-Sudani stated that Iraq is willing to join the BRICS group if it receives an invitation from the founding countries, according to a statement made to the Russia Today channel.
Al-Sudani stated that Iraq knows the conditions and specifications required to join the group.
During their meeting, Al-Sudani and Russian President Vladimir Putin discussed using the Iraqi dinar and Russian ruble in commercial transactions between the two countries.
He expressed gratitude for Russia’s principled stance on Palestine and extensively discussed the matter with Putin out of concern for civilians.
Al-Sudani has announced that Iraq is considering establishing an Iraqi cultural center in Moscow, Russia. This initiative is based on the strong historical ties between the two nations, which will reach their eightieth anniversary next year since the inception of diplomatic relations between Moscow and Baghdad.
Economic praise for Iraq and Russia’s agreement to deal in dinars and rubles: a masterstroke, 12 OCT
Economic praise for Iraq and Russia’s agreement to deal in dinars and rubles: a masterstroke, 12 OCT
On Thursday, Bassem Anton, an economic expert, stated that the recent agreement between Iraq and Russia to conduct transactions using their local currencies – dinar and ruble – will lead to the opening of new doors for other countries to trade in local currencies. This will result in a decrease in the demand for the dollar. Anton described the agreement as a “masterstroke”.
Anton stated that raising the issue of transactions between Iraq and the Russian Federation at a high level of discussion played a key role in reaching an agreement with the Russian side to conduct business transactions in the local currencies of ruble and dinar. This is especially important as the volume of Russian investments in Iraq amounts to around 19 billion annually, making it a significant amount.
He said, “As per the agreement, Iraq will establish new avenues of cooperation with significant nations and will conduct transactions in local currency. This will lead to a decrease in the demand for the dollar and result in a rise in the value of Iraqi dinar against the dollar.”
Antoun stated that one of the key measures for the current and future governments is to boost the agricultural and industrial sectors to achieve self-sufficiency. This would reduce the need for purchasing agricultural and industrial products from other countries using the dollar. Ultimately, this will help the country to move away from being dependent on the sale of oil and transition towards a more diversified economy.
On Wednesday, Prime Minister Muhammad Shiaa Al-Sudani announced the government’s interest in investing in gas due to its lack of attention since the discovery of oil.
Prime Minister Muhammad Shiaa Al-Sudani wrapped up his visit to Moscow, Russia, which took place on Tuesday.
"ANALAZYING THE ARTICLE : " BRICS: What Iraq's Cash Ban Means for the Global Status of USD" BY SANDY INGRAM, 12 OCT
Sandy Ingram
On the topic of Iraq's depolarization plan starting in January 2024... Article: "BRICS: What Iraq's Cash Ban Means for the Global Status of USD"
The BRICS people...are trying to say Iraq is abandoning the US dollar in favor of the BRICS' agenda. WRONG...Iraq has over $100 billion US dollars in a New York Federal Reserve Bank and they understand the consequences of crossing over their own wealth.
This money move by Iraq is to put an end to Iran wrapping itself around Iraq's finances...
to control corruption and the illegal flow of money so they can get International investments.
This money move by Iraq is to show favoritism to their own currency and their own government.
Anytime the young girls decide to date or marry a man who has lots of US dollars rather than Iraqi dinars, then it is time to readjust the thought process. Make no doubt about it, this money move will help strengthen the Iraqi dinar and hopefully the value of the IQD against the USD.
"KURDISTAN BOOTS ON THE GROUND REPORT" BY SUPERGIRL, 12 OCT
Frank26
[Kurdistan boots-on-the-ground report]
SUPERGIRL: Yes, I'm waiting to go back in...I'm sorry I'm just overly excited...I went to the ATM 30 minutes ago to get cash, I went into the grocery store to ask them if they own the ATM. He said no.
I said I tried getting USD out and it won't let me. He said it no longer will give you USD. I said why?
He said because the currency rate just went up. When did that happen? Two days ago. I said are you serious. He said yes.
I got some things for the week and it came out to $80 but he cannot accept USD so it's going to be more...I said how much more? He said a lot more. He told me $100 USD is probably $180.
FRANK: These changes are occurring internally. They're not advertising it. Forex wants to get a hold of this but the CBI is not allowing it just yet. They are still cleaning the terrorist activities...You try to get American dollars and they say no...
They tell you to wait because the value is about to go up not of the American dollar but of the Iraqi dinar.
SUPERGIRL: Yes. He said it happened two days ago here in country.
"STATUS OF THE RV" BY MNT GOAT, 12 OCT
More news….
ECONOMIC PRAISES FOR IRAQ, RUSSIA AGREE TO DEAL IN DINARS AND RUBLES: A MASTERSTROKE
(This is why Al-Sudani went to Russia to meet with Putin. Get it now? Yes, its all about the Dinar and de-dollarization.)
Information / Baghdad
Prime Minister Muhammad Shiaa Al-Sudani concluded a visit to the Russian capital, Moscow, which he visited the day before yesterday, Tuesday.
The economist Bassem Anton, Thursday, the Iraqi-Russian agreement in transactions between the two countries in the local currency dinar and ruble will open new doors with other countries to deal in local currencies, which will reduce demand for the dollar, describing the agreement as a “masterstroke.”
Anton said in a statement to Al-Maalouma that “raising the issue of dealing between Iraq and the Russian Federation at the level of the two highest personalities had a role in the agreement with the Russian side to conduct transactions between the two countries in the local currencies ruble and dinar, especially that the volume of Russian annual investments in Iraq amounted to 19 ten billion annually, and this is a very large number.”
More news….
STATE OF LAW REVEALS A PLAN TO REDUCE THE PRICE OF THE DOLLAR
The State of Law coalition revealed a new government project related to trade exchange between Iraq and three countries, while clarifying America’s position on that, and its impact on the dollar.
The leader of the coalition, Jassim Muhammad, said in a press interview, “There is a new government project to adopt currencies other than the dollar to deal with several countries, including China, Iran, and Russia, ” stressing that “this project, if implemented correctly, will work to reduce the demand for the dollar in Iraqi markets.”
He added, “The project to create a currency for exchange between Iraq and these countries will greatly affect the dollar and will lead to a decline in its prices,” stressing that “the current rise in dollar exchange rates in Iraq will not be able to be reduced by any party, whether the central bank or others, as long as the demand for it is high.” .
More news….
IRAQI DINAR BREATHES A SIGH OF RELIEF AFTER A NOTICEABLE DECLINE AGAINST THE DOLLAR IN BAGHDAD MARKETS
Baghdad Today – Baghdad
Today, Thursday (October 12, 2023), dollar prices recorded a significant decline in the local markets in the capital, Baghdad.
The “Baghdad Today” correspondent said, selling prices in money exchange shops in the capital, Baghdad, amounted to 161,500 Iraqi dinars for every 100 US dollars, while purchasing prices recorded 159,500 Iraqi dinars for every 100 US dollars.”
Yesterday, Wednesday (October 11, 2023), the selling price of the dollar in banking offices in the capital, Baghdad, reached 163,000 dinars for every 100 dollars.
Private banks are accused of taking over the largest part of the currency selling window, especially for the cash dollar, which has become extremely difficult for travelers to obtain, which forces them to buy the dollar from the parallel market, while the travelers’ share of the dollar in these banks goes for the purpose of speculation.
(But where does the parallel market get the dinar to sell at a higher rate? This is at the heart of what the CBI needs to fix. They shut down the street exchangers already. People must go to the bank to get dollars but only under legal circumstances. Unfortunately they are still lying and illegally obtaining dollars as long as the parallel market rate is higher than the CBI official rate.)
STATUS OF THE RV
In one of the articles from this period of today’s news, Advisor to the Prime Minister for Investment Affairs, Muhammad Al-Najjar, on Wednesday explained that what is happening in this transformation and this process of currency reform is that we are trying to return everything to the global system, which all Iraqi governments were late in this action, and some of them completely ignored the requests directed, (yes, they shunned Dr Shababi in 2011-2013 for his efforts) and these requests are correct in reality. Okay so this recent statement by Al-Najjar backs up what I just told you in my last Newsletter about Dr Shabibi and his comments on the process being delayed and the ill effects of it.
Al-Najjar also pointed out that what we were supposed to do in six years, we are trying to accomplish in one year, and this greatly affected the exchange rate of the dollar, adding that the second thing that happened was the presence of major corruption within a group of banks and banking companies, which led to smuggle dollars. (This shows us the current urgency of getting the process completed and confirms that this is the year they want to complete the currency reform. They are saying the process is set up to take 6 years but they are trying to do it in 1 year. Get it?)
Then in another of the articles from today, Al-Shabki added and I quote from the article: “It appears that there are efforts being made to attack these measures by some parties, exchange companies, and banks, with the aim of increasing pressure on the Central Bank and its governor, by trying to postpone the implementation of these measures.” It is expected that there will be an increase in these pressures in the future, including increased pressure on the government to prevent unification of the exchange rate and control the parallel market price.
He then concluded by saying: “We hope that the Central Bank will remain steadfast and independent, stand against pressure and rumors, and continue to implement international standards and prudent measures that will improve and stabilize Iraq’s economy and exchange rate.”
(So, you can see there are elements that do not want the currency reform to be completed since the goose with the golden eggs will end. I assure you it will end and end soon! This corruption will not continue.)
In today’s news we also find out that the Parliamentary Finance Committee member Moeen Al-Kazemi told Baghdad Al-Youm will move to investigate the issue of the Jordan National Bank’s acquisition of 70% of the currency selling window, and we will work to host officials at the Central Bank in order to follow up on this file and what is going on here. Al-Kadhimi stated and I quote from the article: “The government and the Central Bank are still working to launch reform packages in order to control the rise in dollar prices and end the difference in the dollar exchange rate in the parallel market, and the coming days may witness the launch of new reform packages.”
Then on Wednesday, the State of Law Coalition revealed a new government project related to trade exchange between Iraq and three countries to adopt currencies other than the dollar to deal with several countries, including China, Iran and Russia, stressing that this project should work to reduce the demand for dollars in the Iraqi markets. So, this was their big announcement this week for reform package to control the rise in the dollar prices.
So, in conclusion of today’s news, I just wanted to point out to you what is going on in Iraq without any rumors but VERIFIED and FACTUAL information. This is where we are right now in this RV process. No! We will absolutely, positively, without a shadow of a doubt in my mind, will not see the reinstatement prior to early January and January 2024 at the earliest.
-Can we maybe see the in-country RV soon, as part of the process of conversion to the newer lower denominations? :
Yes! This is possible and it may occur around December according to my source in the CBI.
-Will the bombing in Israel effect the currency reform process? :
Yes! It will affect the process as caution to any fallout in Iraq must be taken. It may destabilize the region and Iraq included. Remember Iraq needs a level of STABILITY and SECURITY to complete the reforms. The terrorist organization itself has mentioned Iraq in particular and wants to destabilize the region of the middle east once again. These are wicked evil people who want to destroy any hope in the people of the region and the west. They have clos ties to Iran and more than likely used weapons purchased from the 6 billion dollars just released to Iran. Amas and Palestine ties to weapon stashes left in Afghanistan too are now under investigation. The truth will come out and the prophets tell us there are ties too to what is going on in the Ukraine to this Israeli bombing on Saturday. I can say what these ties are but it will all come out and be exposed.
Remember that our prophets are telling us that this period beginning with the new Hebrew year starting in mid-September would be turbulent, in fact the most turbulent yet up until December and early January. As we pass into the new year we will slowly see things turn around in all aspects. These prophetic words also give me hope that the reinstatement of the Iraqi dinar is part of this turn around. Remember what the prophets told us that when the going get really bad, turn to God and not FEAR. Fear is evil and satanic and makes you do things that you would not normally want to do. Later you normally regret it. We must keep praying now more than ever. I can not over emphasize this.
Remember I know much more of what is going on behind the scenes that I am not telling you and can’t tell you. I know this reinstatement process has to continue to the end and is going to move quickly now and has to move now that of the Israeli bombings. How can I prove this to you?
The two articles in particular that I explained parts of in my above opening dialogue paragraphs explains it all and what I have been telling you all along. It finally all comes out in black and white. 😊 So there is your proof! So, Mnt Goat is not full of shit and it real and does know the situation happening in Iraq. I don’t need to lie to you or make things up to “sell news” as bullshit.
The Israeli bombings will be retaliated by Israel and it will be swift. Already they have rounded up the perpetrators in country. They are planning a massive evasion of Gaza and the prime minister has told the people the army will end this terrorism once and for all this time. What does this mean? Please listen to part of the Elijah Streams presentation by prophet Robin Bullock on Monday 10/9 in the below link. I believe this explains it and so we just have to sit tight now and pray and wait.
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/The dollar will be reduced in Iraq. New government project unveiled for trade with 3 countries, 12 OCT
The dollar will be reduced in Iraq. New government project unveiled for trade with 3 countries
Information/private.
Today, Wednesday, the State of Law Coalition revealed a new government project related to trade exchange between Iraq and three countries, while clarifying America's position on that, between its impact on the dollar.
The leader of the coalition, Jassim Mohammed, said in an interview with the agency / Information /, that "there is a new government project to adopt currencies other than the dollar to deal with several countries, including China, Iran and Russia," stressing that "this project, if applied correctly, will work to reduce the demand for dollars in the Iraqi markets."
He added, "The project to create a currency for exchange between Iraq and these countries will greatly affect the dollar and will lead to a decline in its prices," stressing that "the current rise in dollar exchange rates in Iraq will not be able to be reduced by any party, whether the central bank or others, as long as the demand for it is high." .
Regarding America's position on the new project, Muhammad explained, "America has no relationship with this project, and it does not matter whether or not it agrees to the project to create a currency other than the dollar for Iraqi commercial transactions, provided that there is a will from Iraq and these countries."
The leader of Al-Maliki's coalition stated, "Iraq is required to believe in this issue and adopt this project during the coming period, and the need to overcome the stage of fear and anxiety about the results."
Earlier in the day, Prime Minister Mohamed Shia al-Sudani said his country is ready to join the BRICS group, noting that he discussed with Russian President Vladimir Putin a wide range of economic issues, including the use of the Iraqi dinar and the Russian ruble in trade transactions between the two countries.
The Parliamentary Planning Committee has confirmed that the continuation of the crisis of the rise in the dollar exchange rate is contrived aimed at harming the Iraqi economy, while pointing to the existence of hidden hands used by the American side as a pressure card to embarrass the government through the dollar file
She explained that "even though political confusion occurred over this law, the law is one of the very important laws for the Iraqi people, and the public interest requires that it be passed within Parliament through consensus among the representatives."
Parliament moves to hold the governor of the Central Bank and bank managers accountable for the dollar crisis, 12 OCT
Parliament moves to hold the governor of the Central Bank and bank managers accountable for the dollar crisis
Baghdad - Iraq Today:
The Parliamentary Finance Committee confirmed that next week bank managers and the governor of the Central Bank will be hosted to discuss the dollar crisis.
Committee member Mustafa al-Karawi said in a press statement that "the parliamentary finance committee intends to host the governor of the Central Bank and bank managers to discuss the dollar file and the crisis caused by its rise."
Al-Karawi added that "the hosting will include a discussion of the reasons for non-compliance with the reform packages and the measures taken earlier to control the dollar exchange rate." He pointed out that "the features of the new plans to control the dollar file will be determined after hosting those concerned in this matter."
"ANALYZING ARTICLE VIII & ARTICLE 14" BY MILITIAMAN, 12 OCT
Militia Man
Article VIII implicitly states no member may impose without the Fund's approval restrictions on the performance of payments and transfers related to international commercial transactions ...
Article 14 implicitly indicates if the member is prepared to accept the obligations (which we haven't quite seen yet)...contained in sections 2, 3 and 4 of Article VIII it says thus the agreement encourages the free movement of capital between countries and the transfer of balances between other members...
to facilitate the performance of international payments and work to create a stable exchange rate system which provides the appropriate foreign investments..
.Article VIII...is the freedom of movement of capital. If you don't have it and you're not released to get it, you're not going anywhere.
The Central Bank of Iraq, the government of Iraq, the tripartite budget of Iraq - 2023, 24, 25 they haven't spend any money yet...Why ?
Because they haven't adjusted their exchange rate yet. Do they need to? I think they really do...June 12th they passed the trig-part type budget. It's in the Gazette. There's no amendments to it.
If anybody has them, I like to see them...[Gurus] Jeff...Pimpy...Frank26 you guys are welcome to do that. Let's see if they made any amendments to their budget. I don't think they have.
Article: "The Iraqi Central Bank issues a warning to banks regarding dollar deposits."
A fresh edict from the central bank...Spelling out that the citizens have the right to redeem their deposits in the banks and that the monies are guaranteed and it is their inherent right to do so through or by the year 2024.
None the less the unprecedented crowds ensued...What is unusual is...the way the Central Bank exposed those [banks] that didn't have the money on hand were apparently found to be speculating with depositors funds in dollars. That is not good and there will be consequences.
The Central Bank is now going to take measures against banks that abstain from taking care of their obligations to the citizens.
Parliamentary Energy: Work is continuing towards passing the oil and gas law, 12 OCT
Parliamentary Energy: Work is continuing towards passing the oil and gas law, 12 OCT
Suhaila Al-Sultani, a member of the Parliamentary Oil and Energy Committee, has confirmed that the government and political parties are working tirelessly to resolve the oil and gas law. They aim to overcome all existing obstacles and prioritize the public interest to move towards legislating the law within Parliament.
Al-Sultani stated that various political parties are currently collaborating to settle the oil and gas law matter and bring it to completion. They aim to present it to the House of Representatives for discussion, reading, and voting during one of the upcoming sessions.
During the meeting, representatives from the Al-Sadiqoun bloc agreed on the importance of passing this law. They believe that it will ensure a fair distribution of wealth to all Iraqis and protect this wealth from any external influences.
She clarified that despite the political confusion surrounding this law, it is still one of the most significant laws for the Iraqi people, and it is in the best interest of the public for it to be passed in Parliament through consensus among representatives.
The Central Bank of Iraq suspends the “Western Union” service for international financial transfer, 12 OCT
The Central Bank of Iraq suspends the “Western Union” service for international financial transfer, 12 OCT
The Central Bank of Iraq has suspended the Western Union service for international financial transfers until further notice.
The company has recently announced that it has suspended the Western Union service, effective from 10-12-2023. This decision was made in compliance with the directives issued by the Central Bank of Iraq. The suspension is temporary and has been put in place to enable the implementation of modern mechanisms and technologies to ensure that financial transactions comply with international best practices and the guidelines of the Central Bank of Iraq.
The company’s customers will be notified immediately upon relaunch of the service.
Last July, the US Treasury Department imposed sanctions on 14 Iraqi banks as part of a crackdown on Iran’s use of the US dollar for transactions.
Last September, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, made an announcement that the bank will no longer be conducting “foreign transfers” from next year. Additionally, the bank has also decided to restrict internal commercial transactions to dinars instead of the US dollar, except for those transactions that are meant for travelers.
It’s worth noting that the Central Bank has recently implemented a new foreign currency auction mechanism that complies with the requirements and conditions set by the Federal Bank. The new mechanism aims to monitor the dollar and prevent any attempts to smuggle it out of the country. This has created high expectations among people, and everyone is eagerly waiting for its impact
"RV UPDATE" BY MARKZ, 12 OCT
MarkZ
[via PDK] Question: What is your gut saying right now Mark? My gut is screaming – right now!! I’m looking at all these diversions, and my gut is still screaming we are right on top of this thing…and that we are going at any moment…maybe even this week.
This is a big one and has got to have the US scrambling right now. “Al-Sudani confirms Iraq’s readiness to join the BRICS group” Why is this important? Iraq is signaling to the US they have a “PLAN B” that if they don’t let this go they can go without you. The US is holding billions of Iraqi dollars…and at some point they may just write those billions off so they can have freedom. I believe the US is now on a time schedule…they only have so much time left before Iraq joins the BRICS nations and no longer needs the US.
To me this is a huge story.
We do have people from the UN in Iraq today. “UN Security council to discuss Iraq: budget, security and human rights on the agenda” They are telling us how well the discussions went. They say Iraq is making great progress.
Comment: I think the US is holding up the process. MarkZ: I think they were…I don’t think they are now. I think they desperately need it now...guess what the US desperately needs right now for stability? They need Iraq to RV.
The citizen wonders: When will exchange rates be controlled, 12 OCT
The citizen wonders: When will exchange rates be controlled, 12 OCT
In general, the average citizen does not have a direct interest in the dollar or its associated exchange rates. The majority of the population consists of employees, retirees, earners, those covered by social protection, the unemployed, those with special needs or those who are unable to work, and most of them manage their livelihoods with the dinar. They receive salaries, wages, subsidies, or other methods of payment, which are often limited and may not meet the requirements of subsistence living. Although the dollar has been involved in important events, such as smuggling, waste, and money laundering operations, most citizens have nothing to do with it.
The Central Bank has opened the currency window to protect people from dollarization, and through it, business owners can trade dollars by importing goods that constitute a significant percentage of consumption. This means that the majority of Iraqis can obtain their needs for local and imported goods and services at almost stable prices because the dollar is insured for those who need it. Therefore, the poor can give up the dollar in exchange for the relative stability of prices in the markets. The dollar is only necessary for specific cases, such as travel, study, immigration, or treatment.
The government led by Mr. Al-Kadhimi triggered a crisis in the livelihoods of the people by changing the exchange rates to 1,450 dinars per dollar in agreement with the Central Bank and some politicians, without adequate measures to compensate for the decrease in purchasing power and the consequent rise in prices, which affected many categories of people. This caused great difficulties for those with limited income and the destitute, forcing them to adjust to the new reduction in dinar prices without any change in the salaries of employees and retirees.
The change also led to the manipulation of prices by some unscrupulous sellers and exploiters, even though the exchange rates were only 1,480 dinars per dollar on the black market. When the Al-Kadhimi government was replaced, many hoped for a return to the previous exchange rates. The new government, led by Mr. Sudan, initiated a series of reforms aimed at improving the lives of its citizens and decided to reconsider the exchange rate, setting it at 1320 dinars per dollar. While this still exceeded the previous rate, it was seen as a positive step towards reducing prices and achieving a balance between family income and spending requirements.
It is believed that the increase in oil prices will lead to an improvement in living standards. Last September, the country earned $9.494 billion from the sale of oil. However, it is puzzling how the price of eggs could jump from 6 to 8 thousand dinars within days despite the country’s huge revenues. This is especially concerning as the salaries of employees and retirees have not increased in dinars, and workers in the private sector are experiencing a decrease in income due to market downturns and economic recession.
The government and the Central Bank have implemented measures to control the dollar exchange rates on the black market, however, the situation has not improved and is in fact worsening. The current exchange rate is 1640 in the markets, compared to 1320 for the official rate. This means that the Central Bank is selling more than 240 million dollars a day to meet import needs.
It is reasonable to question the effectiveness of these sales, as the logic of reason suggests that if the markets require 50 million dollars to meet the demand for the dollar, then where is the impact of the sales, given that remittances amount to ten times the demand in black? Furthermore, where do the billions go when the state covers travel needs and other expenses? It is not reasonable for these millions to be smuggled in cash while the state has a constitution, security, judicial and regulatory apparatus, and spends trillions on them. This raises numerous questions, and the citizen should not be blamed for asking them. There are concerns that the price will exceed 1,700 within days and may cross the 2,000 dinar barrier in the coming weeks.
There is growing concern over the rise in the dollar exchange rate. This is due to expectations of stability being dashed again and again, as has been the case since February. Despite economic advisors’ predictions, the situation has not improved. Just yesterday, the Prime Minister’s Advisor for Investment Affairs predicted that stability in the dollar exchange rate against the Iraqi dinar in the parallel market would return within two months. He noted that what should have been achieved in six years is now being attempted in just one year, which has significantly impacted the dollar exchange rate.
He also highlighted widespread corruption within certain banks and banking companies, which has led to the smuggling of dollars. When asked if the price of the dollar will continue to rise, the answer was yes, it may continue for a while. However, it is expected that within a month or two, the exchange rate will begin to decline due to 70% of trade in Iraq moving to the electronic platform.
In a related development, the State of Law coalition has proposed a new government project that involves the adoption of currencies other than the dollar for trade exchange with three countries, including China, Iran, and Russia. A leader in the coalition explained that if implemented correctly, this project could help reduce the demand for dollars in Iraqi markets.
He stressed that the current rise in the dollar exchange rate in Iraq cannot be reduced by any party, including the Central Bank, as long as the demand for it remains high. Regarding America’s position on this new project, he clarified that the US has nothing to do with it. It does not matter whether or not America agrees with the project to create a currency other than the dollar for Iraqi commercial transactions, as long as there is a will from Iraq and the other countries involved.
If we rely on the statement that assumes prices will be controlled after two months or on the statement that introduces a new plan for trading in non-dollar markets, without specifying its duration, we must ask ourselves: How can the average citizen cope with the dinars he receives or earns? Does he manage his finances day by day or month by month? Who can guarantee that the prices of goods and services will not continue to rise when there is no hope of increasing salaries for employees and retirees in the near future?
Any increase in salaries is directly linked to the budget that was prepared for three years, and it suffers from an annual deficit of more than 60 trillion dinars. Furthermore, our economy is highly dependent on oil exports, the value, quantity, and prices of which are subject to international variables and events that are becoming increasingly complex. Therefore, we need practical solutions to answer all these questions. When we ask these questions, our goal should not be to give in to despair but to formulate actual solutions to what is happening and not to fill pockets with wishful thinking.
"RV UPDATE" BY FRANK 26, 12 OCT
Frank26
If you are a student of Forex you will be able to see right now the Iraqi dinar is trading in massive volumes. It is putting itself in position when the new exchange rate comes out.
I'm frustrated like you. I'm disappointed in Sudani although I should respect the process but dog-gone-it Sudani.
Alaq and Sudani are removing all foreign currency from your [Iraqi citizens'] country because they are protecting you and your national currency from any foreign terrorism. They are using all mechanisms...These mechanisms come from the CBI. They were structured by the monetary reform under Dr. Shabbibi. One of the last final things is to remove all foreign currency so you only have your currency in your country.
[Iraq boots-on-the-ground report] FIREFLY: Sudani said the banks that did not have our money that we deposited have basically been using that money on the black market to make money with a high exchange rate and this will stop. They better come up with the month to pay our deposited money back or actions will be taken by the CBI toward these banks. He spoke to high end corruption and how this too will end. FRANK: I knew Sudani had everything under control but this is a little surprising to me. It is very good news.
Biden Administration Prioritizes Diplomacy Over Military Intervention in Hostage Situations, 12 OCT
Biden Administration Prioritizes Diplomacy Over Military Intervention in Hostage Situations, 12 OCT
In a significant policy shift from the previous administration, a Biden aide revealed that the US is currently not considering the use of American troops for hostage rescue operations. Instead, the emphasis is on diplomatic efforts and collaboration with partner nations to resolve hostage situations.
A Shift from Aggression to Diplomacy
The decision not to use American troops for hostage rescue operations is aligned with the Biden administration’s broader approach of prioritizing diplomacy over military intervention. This policy shift reflects a departure from the previous administration’s more aggressive stance towards hostage situations. The Biden administration aims to work closely with international partners to address the root causes of hostage-taking and enhance the effectiveness of diplomatic negotiations.
Minimizing Risk to American Troops
By relying on diplomatic channels and collaboration with partner nations, the US hopes to achieve successful outcomes in hostage situations while minimizing the risk to American troops. The current administration’s approach underscores the importance of diplomacy in addressing international crises and aims to prevent unnecessary military confrontations that could put American lives at risk.
Amid Rising Concerns Over Troop Safety in the Middle East
The statement comes at a time when the Pentagon expresses concern over potential attacks on American troops stationed in the Middle East amid escalating conflict between Israel and Hamas. Defense Department officials are specifically apprehensive about Iranian proxy groups in Iraq and Syria, as well as Iranian forces in the Persian Gulf, exploiting the region’s instability to target American or partner forces.
Ensuring Defense Support to Israel
Despite not considering the use of American troops for hostage rescue, the US is committed to ensuring Israel’s defense. It is providing additional defense-related support to Israel and has deployed the USS Gerald R. Ford aircraft carrier and its strike group to the Eastern Mediterranean for deterrence purposes. The USS Dwight D. Eisenhower and its strike group will also be deployed to the region if needed. This shows that while the US is reducing its military intervention in hostage situations, it continues to maintain a powerful military presence to deter potential threats to its allies.
BRUCE'S BIG CALL, 12 OCT
Bruce’s Big Call Dinar Intel Tuesday Night 10-10-23
REPLAY LINK Intel Begins 1:10:30
Transcribed by WiserNow
Welcome, everybody to the big call tonight. It is Tuesday, October the 10th and you’re listening to the big call. Thanks for tuning in wherever you are around the globe. Last Thursday, we hit a peak of 198 countries with at peak time 28 point 5 million listeners.
So we really had a good reach. I think that was a record for us on last Thursday’s call so I have no idea how we’re gonna go a far we’re going to reach out tonight but we’ll see what happens. Anyway, we slice it. Thank you so much for listening everybody thanks for coming in
So let’s go into some intel. We have been told to be ready at any moment for notifications to come out. That was told to us this morning very early. Now, there are some political changes, I believe, that will start tomorrow that will take place we are hearing starting tomorrow –
We are looking for a new speaker of the house, we think that’s Jim Jordan. And we also are looking for something to come out of Chief Justice Clarence Thomas with the Supreme Court – that decision, and I believe Brunson might be part of that, that he brings up.
Like we’ve been told it would so we’ll see because we’ve also been told by bond paymasters, that went in today with certain bondholders they’ve got a little bit of money more or less walking around money, we call it but they were told that they would be able to have access to the majority of their funds within the next three days. So I read that is within either Wednesday, Thursday or Friday.
Now we tend to parallel what’s going on with the bond holders – We’ve also moved to look for this in the next three days for our notifications Wednesday, Thursday or Friday.
If that occurs, we should be in pretty good shape between now and Friday.
It’s just that it’s just guys we are just right on the edge of it. We’ve been told this thing is imminent. it’s right there. Everything’s done.
I wonder whether or not what’s happening in Israel is a factor or not. You would think it would be a factor but we were told two days ago, what was happening in Israel was about a prisoner swap between Israel and Palestine and maybe one or two other countries with Israel.
Now, we understand that under just sorrow, countries need to be at peace they need to return or for prisoners of war to their proper countries. And we know that has happened in most cases. But this is one I think it’s coming down to that happening, which which started two nights ago, two nights ago, which would have been Tuesday night overnight. So is that is that accomplished that week?
I don’t know that yet. We’re not going to know that necessarily. But I’m looking forward to all of that. And we know that there’s always clean up to take place. And the majority of that I think has been done to where we’re able to move forward. Our military and our National Guard are stationed and prepared for any hotspots, political hotspots in the country. And I believe that they’re going to be able to minimize any effects from the political turnover.
We’ll see what it looks like. We do believe that there’s a possibility that they would use the Emergency Alert System, the Emergency Broadcast System, and the emergency wireless system EWS with any announcements as early as tomorrow. It could be on those networks and it mainstream media, television is reluctant to put this out I think they have the military has an alternative means to make that happen.
So we are right in the midst of it right now. And this is a this is really an interesting time for us. I know you guys had the faith or you wouldn’t have had the faith to believe in what we all believe in is going to take place with this resetting of global currencies. And there is just so much happening right now to make everything come together.
My understanding is that the global financial system through the quantum financial system has been completely connected interconnected with all the banks around the globe. They did get that complete. So in a startling system, I believe is up and ready to go and they’ll be increasing our speed on our cell phone service and our internet through this month – More like middle and end of October.
I told you guys last Tuesday what to expect in terms of increases in Social Security this month. And also in terms of getting the r&r, the institutional and reformational allowance is looking like right now, unless nothing changes. We are set to get those lump sums coming in for age group of 60 and older about the 18th or 25th of this month of October and that would be over a three month period of three equal payments of that lump sum divided by three paid out over the next three months, including October.
So we’ll see how this all comes together. It’s a lot to get done. I believe they’re pretty much on course. But we’ll see if if there’s any delay other than where we are right now. We kind of thought we would be notified by the day yesterday or today. And we didn’t get notified. But and then the bondholders were also told they were expecting full liquidity today. And they were just given a little bit today.
But they were told they would have their funds within the next three days Wednesday. Thursday, Friday. That’s what we’re looking for for them. And it’s also what we’re looking for, for our notifications and start of our exchanges within the next three days. Let’s see what manifests. Let’s see what happens.
So that’s what I wanted to bring to you guys tonight. And let’s go ahead and pray the call out and we’ll take it from there. Okay, thanks everybody again for listening. I hope we got a good reach tonight around the globe. Let’s pray the call out.
Dollar Prices in Baghdad and Erbil Decrease: An In-depth Analysis of the Iraqi Economy, 12 OCT
Dollar Prices in Baghdad and Erbil Decrease: An In-depth Analysis of the Iraqi Economy, 12 OCT
In a wave of relief for the markets of Baghdad and Erbil, two major cities in Iraq, the US dollar has experienced a significant decrease in value. This development is set against a backdrop of recent fluctuations that have triggered concerns about the overall economy of Iraq.
Unraveling the Dollar’s Decline
The decline in the dollar’s value has been observed not only in the Al-Kifah and Al-Harithiya central stock exchanges in Baghdad but also in local markets. Exchange shops have followed suit, reflecting lower selling and purchase prices for the dollar. The exchange rate, which once reached a peak of 156,200 Iraqi dinars for every 100 dollars, has seen a noticeable drop compared to the previous day’s rate of 154,600 dinars for every 100 dollars.
Central Bank’s Role in Strengthening the Dinar
The Central Bank of Iraq has implemented a plan to strengthen the value of the Iraqi dinar against the US dollar. This includes measures such as reducing the exchange rate for travel or internet purchases from 1,470 dinars to 1,465 dinars. The bank is also striving to help private banks strengthen their foreign currency reserves by diversifying their holdings beyond the US dollar. It has specifically mentioned the Chinese yuan, the euro, the Emirati dirham, and the Jordanian dinar. Moreover, government banks will sell foreign currencies for purposes such as travel, medical treatment, and study.
Implications of the Rising Dollar Value
While Iraqis who are paid in dollars may have increased purchasing power due to the declining dollar value, those paid in dinars may experience a loss of purchasing power as imports and exports are paid for in dollars. The devaluation also means that imported goods become more expensive in the local currency. These factors are critical to consider given the economic challenges that Iraq has faced in recent years.
Potential Future Ramifications
The future implications of the dollar’s value in Iraq are complex and far-reaching. The country has encountered numerous economic challenges, including internal divisions, economic uncertainties, and external threats. The Kurdistan Regional Government (KRG) has also played a significant role in Iraq’s economy, experiencing its own economic boom and bust cycles. However, the KRG faces challenges such as internal divisions, weak institutions, and a lack of a clear vision for its future.
As Iraq navigates these economic changes, it is crucial to closely monitor the strategies used to strengthen the dinar and mitigate the impact of currency devaluation. The outcome of these efforts will shape Iraq’s economic future and impact the lives of its citizens. Moreover, adherence to decisions from the American Treasury is seen as necessary for Iraq’s best interest.
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