Security raids the Forex company in Baghdad, 8 NOV
A security source reported, on Tuesday, a raid on an “unlicensed” company for buying and selling stocks and trading in foreign currencies in the capital, Baghdad.
The source told Shafaq News Agency, “A security force raided one of the companies that carries out trading activities in buying and selling stocks and trading in foreign currencies (Forex) within the Al-Mamoun area / Al-Shawaf Street in Baghdad,” noting that “the company is not licensed by the Central Bank of Iraq. ”
The source confirmed, "7 computers, 3 records, and files containing contracts concluded with traders were seized, and one of those inside the company was arrested." link
Unraveling the Middle East Conflict: A Deep Dive into U.S. Non-Intervention
The Middle East conflict, a labyrinth of politics, history, and global interests, continues to shape the world’s geopolitical landscape. An integral part of this intricate matrix is the United States’ stance, a blend of political pragmatism, historical alliances, and economic considerations. This article explores the multi-layered dynamics of this conflict, delving into the reasons behind the U.S.’s non-intervention and the nuances of its support for Israel.
U.S. Involvement: A Maze of Motives and Implications
The U.S.’s approach to the Middle East conflict is far from straightforward. It is a tapestry woven with threads of historical context, regional politics, and economic interests. The U.S.’s involvement in Ukraine, viewed by some as a reckless instigation leading to Russia’s invasion, is a telling example. The narrative suggests that America could have supported Ukraine without inciting Russia, thereby averting the crisis.
The Israeli-Palestinian Conflict: A Complex Paradox
The Israeli-Palestinian conflict, a thorny issue in the Middle East, is another area where the U.S.’s stance is under scrutiny. While the U.S.’s support for Israel is often criticized, it is also rooted in shared cultural and historical ties. This connection, a pivotal element of Western civilization, has direct implications on U.S. foreign policy.
That said, there is a growing consensus that while Israel’s war in Gaza may be justified, its policies in the West Bank could be perceived as ethnic cleansing. This dichotomy presents a challenge to the U.S. – how to support reasonable Israelis while marginalizing anti-Arab zealots. The path to resolution is fraught with difficulty, but necessary for regional stability .
The Iraq Factor: Balancing Act in a Volatile Region
Caught in the crossfire of the conflict is Iraq, a country grappling with its historical animosity towards Israel and its strategic alliance with the U.S. Despite its refusal to sign an armistice agreement since the 1948 Arab-Israeli War, Iraq has shown diplomatic maturity in its stance on the Hamas-Israel conflict, advocating for Palestinian statehood and humanitarian aid for Gazans.
Simultaneously, Iraq’s internal dynamics, with the role of Shia militias and the delicate task of managing relationships with the U.S. and influential armed factions, add another layer of complexity. The recent visit of Secretary Blinken to Iraq signifies the importance of handling these challenges to ensure regional stability.
In conclusion, the ongoing conflict in the Middle East, underscored by the U.S.’s involvement and the Israeli-Palestinian discord, is a microcosm of the complexities of international relations. As this exploration reveals, navigating these turbulent waters requires keen understanding, diplomatic finesse, and a commitment to peace.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Welcome home Mark…….hope you had safe travels and good news tonight
Member: Mark do you think the RV is waiting until January?
MZ: I don’t think so. So much is happening now….and all at once
MZ: Some of my bond folks….although they didn’t get paid today –were told they would have liquidity this week. And that things have happened and released. They are expecting a crazy, crazy week and they are being told its done and just waiting for the roll out.
MZ: Most of my sources believe things are moving at a wonderful pace this week.
MZ: When I see CMKX and farm claims and historic bonds paid…then I will put on the gold…even though we don’t yet have appointments.
MZ: “The central bank of Iraq have decided to resume the sale of gold bars and coins starting from Wednesday Nov.8th”. So starting tomorrow they will be selling to private banks and the government. This is big imo…and shows more de-dollarization. And shows a similar pattern to Zimbabwe……going back to gold to support the value of their currencies.
MZ: Some interesting news coming out of Vietnam. “Banks find no takers for foreclosed properties despite deep discounts” They cannot unload them…nobody wants them….We are seeing similar things happen in the US. This points out just how bad the entire world needs this reset to go now.
MZ: “WeWork once valued at $47 Billion files for bankruptcy” Huge breaking stories today.
MZ: “BRICS: Russia dumps currencies worth $8.7 million in Yuan and Ruble set” They are trading openly with their currency and other currencies now and increasing the value of their currencies in comparison to the US dollar. More de-dollarization and the power of BRICS. We are watching this play out in front of our eyes.
Member: My credit Union 2 days ago told me they were officially under the quantum financial system.
Member: Got a notice that a new debit card is coming from my bank soon. The card face will not say 'debit' it will now say: "WORLD DEBIT" !!!
Member: Thanks Mark and Mods……looking forward to great news tomorrow…(hopefully)
Member: Thanks MarkZ, glad you're home safe and sound !
Member: 3 day weekend Friday…Maybe this is the one we are waiting for.
THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IS MARK’S OPINION ONLY.
Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.
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[Iraqi bank friend Aki update] Aki's boss who has a bank inside of Iraqi ordered Aki last week to stay at [Aki's bank in the southern part of the state where the bank is located]. The reason why is because there is a change to the exchange rate of the Iraqi dinar [coming].
Our Federal Reserve is pushing the monetary reform of the Iraqi dinar for the new exchange rate...This MR (monetary reform) first started out with an RV (revaluation).In other words they did all the calculations on all the numbers of everything that they had in their reserves...banks...bank accounts, at the CBI...assets in the ground...The RV has led the MR to the phase they're in right now which is called an RD (redenomination of their currency) - The new currency to replace the 3-zero notes.
The RD is inches away from entering what's called the RI. The RI of Iraq's currency is what will happen after this RD phase.Once you see...they have the redenomination in their hands, then the RI of their currency coupled with an RV of their new exchange rate value...will kick in. What it boils down to is it will start an international float using an international currency basket..
Gas Pipeline to Kirkuk Power Station Completed, 7 NOV
The Iraq Oil Pipeline Company has recently finished a project to extend a dry gas pipeline, which is 16 inches in diameter and supplies the Kirkuk Gas Power Station from the Khor Mor fields. The pipeline is 1,050 meters long and was built in two phases. It is expected to transport an extra 100 million cubic feet of gas per day, thereby increasing the electricity production.
Ali Abdul Kareem Al-Mousawi, General Director of the Oil Pipeline Company, has reinforced the company’s dedication to executing the orders of the Deputy Prime Minister for Energy Affairs and the Minister of Oil. The company is committed to supporting projects related to the supply and transportation of oil products for the benefit of electricity generation facilities across all provinces.
The new pipeline diverts from the main pipeline, which runs from Jamboor Station to North Gas Company, to supply gas to the Kirkuk Gas Power Station at Tazah Station. The project involved connecting the pipeline, installing three 16-inch valves, constructing a 60-meter bridge on the main road between Kirkuk and Baghdad, and building other sub-bridges. Additionally, engineering inspections and thickness measurements were carried out along the new pipeline’s path. Al-Mousawi praised the efforts of the national workforce in completing important projects.
The implementation of the pipeline was coordinated with various organizations including the Directorate of Electricity in Kirkuk, North Gas Company, North Oil Company, and the Directorate of Traffic, Roads, Bridges, and Communications to ensure successful execution of the project.
The Central Bank of Iraq resumes the sale of gold bullion and coins via an electronic platform
The Central Bank of Iraq has announced the resumption of gold bullion and coin sales from Wednesday.
The Central Bank of Iraq will resume the sale of gold bullion and coins on November 8, 2023, through an electronic platform, according to a statement issued by the bank.
The Central Bank of Iraq has recently announced that both government and private banks are now able to purchase gold bullion and coins through a designated electronic platform. The bank has emphasized that the sale of these items must adhere to the rules and regulations set forth by the Central Bank of Iraq.
No! No! The IQD has not yet revalued and won’t even have a remote chance to revalue and go to FOREX until January 2024 and this too might be in jeopardy due to the war. But so far, so good. No, the newer lower denominations are not yet in the ATMs. The is absolutely no solid proof of this other than more intel guru talk and rumors. I have outlined to you already how this is impossible to do slowly as the citizens will need the ATMs for petty cash of the 3 zeros notes until the RV occurs, once they get paid on payroll. This is an event that must coincide with the project to delete the zeros. I can hardly believe anyone would even tell you the ATMs are loaded. How stupid and irresponsible. If this is true then show me the proof. I am so sick and tired of all these stupid guru rumors over and over again. They have not even yet educated the people as to the details and timing of this event. I am in close contact with the CBI with my contact who also happens to be a personal good friend of mine. I met my contact while stationed in Baghdad with the US Army. So, I do not think there will be any lies told to me.
Once again, the IQD is NOT yet trading on FOREX. I can assure you of these FACTS with 1000% accuracy. So, stop listening to all these clowns out there spreading unverified rumors.
Today, Monday (November 6, 2023), an informed source revealed new details regarding the visit of US Secretary of State Anthony Blinken to Baghdad. The meeting lasted for about 5 continuous hours and included meetings with political elites. Secrecy surrounded the visit noting that “his wearing of armor and riding in a military helicopter with his work team. This is evidence that he came within an atmosphere of alert war because he was afraid of any surprises.
He pointed out that some elites from Iraq stressed an urgent message to Blinken that if the situation is not contained in Gaza, then the explosion in the Middle East is just a matter of time away, especially with the White House’s complete bias in favor of Israel and its failure to condemn the killing and wounding of more than 30,000 Palestinians within 4 weeks in Gaza and the rest of the cities. He continued, “What the US Secretary of State heard during his visit to Baghdad is worrying, especially since his administration’s position on the events in Gaza cannot be ignored in light of the continuous bloodshed that has sparked anger for all Iraqi components without exception, and the escalation of the targeting of bases is very likely, especially with the position of the Sadrist movement, which did not “It wouldn’t be surprising.” Despite its “peaceful” stance towards Israel, the Kurdistan region is confused because it was not included in Blinken’s visit…oops!
I will let everybody know what my stance in with this war between Hamas and Israel. It appears the propaganda news media strikes again. Why do they always take the side of evil as they are now siding with Hamas and you can read it in their news broadcasts. Why do these Palestinians hate the Jews in Israel? Oh…wait….they don’t hate the Jews. They believe the Gaza strip is their land and Israel should be removed from it. That is all. So who is Hamas and Hezbollah terrorists have to do with it? Simply put they don’t have anything to do with the land dispute however they are dirty and deadly terrorists using this land dispute for their own purposes. Get it? So what is their purpose?
Their purpose is Iran’s purpose and that is to kill Jews and irradicate Israel altogether. How many times have we heard Iran state this fact? We know for a FACT Iran is supporting Hamas and Hezbollah. So how thick are people not to see the real truth as to what is going on over there in the middle east. Yes, there are Palestinians dyeing and many of them. I do pray for their souls as I also pray for the souls of many Israels too. War is not pleasant and there will be civilian casualties. The Israeli army is trying not to target civilians and to be as humanitarian as possible. But Israel did not start this war. They were attacked in an unrevoked, surprise attack by Amas. The terrorists group Amas drew first blood. Get it?
There are parties in Europe, in Iraq and in the US that don’t want the terrorist organization called Amas obliviated and so conveniently they want Israel to pull out and leave them alone. Really? This is the propaganda and many of the protest and rallies by western culture really don’t know the truth and are hiding behind humanitarian causes once again and can’t face the reality of the situation however they will when Amas comes knocking on their door of their nation (if not already here) if not taken out now. I also can’t believe that any US politicians could even think about giving humanitarian aid to the Amas terrorists. This is unbelievably stupid and so you can clearly see where the light shines in many of these so-called progressive liberals in the US. Any of my readers can argue with me all day long on my stance with this war, but I will tell you all war is not nice and people die, It is a fact of war. If you don’t like war and killing and destruction it brings, then try to stop the wars and see who is perpetrating these constant wars and why need these constant wars. Instead of taking your time shouting and demanding in protest in the streets, do some research and see who is behind it all. Then go after them and make sure you vote next November accordingly.
Being in a war and seeing it first-hand I know how it feels to be shot at and see someone explode into pieces right in front of you as their blood drips down your face from the splatter. So this war in the middle east is dirty but if we don’t finish it there it will come over to your country too. In fact the through the Biden loose immigration policy I believe sleeper cells are already in the US and will be used during the election, if not before to create yet more chaos and crises.
What else is new in Iraq?
The Parliamentary Finance Committee renewed its support for the Central Bank’s measures to control the exchange rate. This tells us they are still onboard and working with the CBI towards their common goal or the eventual reinstatement on FOREX.
Earlier the Finance Committee in the House of Representatives commented on the possibility of Iraq being harmed economically as a result of the ongoing war in the Gaza Strip with the Israeli occupation. Today’s article tells us of some “possible” but not yet, ramifications. I would not yet panic as this war could be contained and that is the serious process now in place. All the pro-Palestinian protests do not help the situation at all. Israel’s prime minister has said they will eliminate this threat once and for all and will do what it takes to complete the mission. I believe Israel wants peace just as much as you and I do.
So, as your read the articles below you can see there is not much recent new talk about the rate of the dinar and all the problems they are having with the de-dollarization process. I firmly believe the Finance Committee working with the CBI will get it right and finally be able to stop the serge of dollars into the economy that keeps the dollar rate high and the dinar rate low. The solution in there and I hope they can execute on it prior to January when they told us there will be no more dollars used, even in paying for import trading, which is today about 200 million US dollars a day. Will other trading partners live up to there agreements in the use of there own currencies for trade outside of the dollar?
Think about this too. If Iraq can manage to get these agreements executed upon when needed next year, if not before, then they will no longer need the $200 million dollars to pay for imports. Instead, they can take the dollars and convert them to the countries’ currencies they are trading with. This helps create demands for other countries’ currencies too as well as the Iraqi dinar thus everyone makes out and can prosper if done correctly. This could very well be part of what the CBI is waiting for as it has been a long road since January 2023 began. But remember even when they are ready, the US, IMF and the World Bank all have to agree to give the green light and they live up to it.
We Will Pursue Money Laundering Crimes With Modern Technologies And Digitalization
Iraq Tuesday, November 7, 2023 Baghdad/National News Center Today, Tuesday, the Federal Integrity Commission confirmed its intention to prosecute crimes of illicit gain and money laundering using modern technologies and digitalization.
Integrity stated in a statement received by the National News Centre, that “The Chairman of the Authority, Judge Haider Hanoun, stressed in his speech at the launch ceremony of the (Laser Fiche) system, which was attended by the representative and advisor to the Prime Minister (Moayad Al-Saadi), the importance of benefiting from technological development and the information revolution.” ;
With the aim of digital transformation and electronic governance for its role in combating corruption, saving effort, speeding up work, reducing costs, and achieving administrative integrity and transparency in all state institutions.”
Judge Hanoun stressed “the importance of all state institutions shifting to automating their procedures and moving towards electronic governance,” pointing out that “this will prevent auditors from coming into contact with employees and reduce the chances of blackmailing them or demanding bribes from them in exchange for facilitating the completion of their transactions.”
He praised “the great and fruitful cooperation between the Authority and the United Nations Development Program (UNDP) in various fields, especially in the field of transition to digitization and achieving electronic governance,” noting that “the launch of the enterprise management system (Laser fiche) comes within a series of milestones.” Cooperation in this field.”
He pointed out, “The two parties cooperated in launching a project to establish a digital forensic laboratory (DFL), which seeks to support the Federal Integrity Commission in benefiting from the digital revolution and information technology in investigating corruption cases and prosecuting its perpetrators, and making it capable of tracking smuggled funds.
As a result of corruption crimes, it enhances its ability to detect corruption, fraud, and money laundering, investigate those crimes, and deter their perpetrators.”
Hanoun appreciated, “The efforts made by the Vice President of the Authority and the General Director of the Academy (Mazhar Turki Abd), its technical staff, and the rest of its employees in their seriousness and perseverance. In order to reach the start of automating all the academy’s procedures,”
he stressed that “this experiment, which he hopes will be successful, will be circulated among the rest of the authority’s departments and benefit from it in overcoming some of the obstacles that it may encounter,” while he explained that “the authority’s law allows it to carry out any work that contributes to combating Corruption or the prevention of it,
and also granting it the authority to use the means of scientific advancement, devices and machines for investigation, investigation, and evidence gathering, and to provide the requirements and requirements for their use in the field of detecting corruption crimes, preventing them, or prosecuting their perpetrators.” https://nnciraq.com/235812/
An American Official From Erbil: Passing The Oil And Gas Law Is A Priority For Washington, 7 NOV
Political | 04:45 - 07/11/2023 Mawazine News – Baghdad The new US consul in Erbil, Mark Straw, confirmed on Tuesday that addressing the revenue problem and passing the oil and gas law will be Washington’s priorities and agenda in Kurdistan.
A statement from the Ministry of Natural Resources, the regional government, said, “The Acting Minister of Electricity and Natural Resources, Kamal Muhammad Salih, received today the American Consul General in the Kurdistan Region, Mark Straw.”
The statement added, "The Minister of Electricity and Natural Resources thanked the United States of America for its role in resuming oil exports to the Kurdistan region, following up on solving oil and gas problems, expanding investment, and approving the federal oil and gas law with the Kurdistan region."
In turn, the American Consul confirmed, “We are closely following the process of resuming oil exports and we know that the suspension of oil has had a negative impact on revenues and citizens, and that addressing the revenue problem and passing the oil and gas law will be among the priorities of Washington’s policy and agenda.”
He expressed his "happiness with investing in the electricity, energy and oil sectors."
Not a lot of RV news but, the overwhelming consensus is that they did their best to pull the trigger over Friday and Saturday. Their backup plan was Monday night or Tuesday....They feel very confident they will get this thing wrapped in the near future. There is a whole heck of a lot of expectations for the next 2 days.
Seems that things appear to be heating up …so many rumors.
Kaperoni
The dinar cannot go up in value until Iraq diversifies and creates significant economic growth. The current conditions in Iraq will continue to keep the dinar weak…
Until they pass laws…there will be no change. We have a window now over the next three years…
The Minister of Oil announces an increase in oil revenues in support of the financial budget
11/7/2023
Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul-Ghani, affirmed the keenness of the government and the ministry to advance the oil industry, work to increase oil and gas production, and the financial revenues achieved by supporting oil and gas field development projects and increasing export capacities.
Abdel Ghani said during his hosting of the Seventh Ambassadors Conference that: “The government program emphasized the importance of investing in associated and free gas to enhance national production to support the energy sector,” indicating “support for oil and gas field development projects through the announcement of the fifth (supplement) and sixth licensing round.”
He added, "The set of contracts for the Integrated South Project with Total Energy Company is an important addition to the oil and gas industry, infrastructure and renewable energy, and to support projects to increase export capacities from the South outlet."
Abdul Ghani continued, "An increase in the rate of oil exports from the southern fields was achieved by adding an amount of 350 thousand barrels per day, and the rehabilitation of the Al-Amaya port in the south to add an amount of 500 thousand barrels as export capacity."
He pointed out, "Activating the contract for the project to add a new single buoy with the aim of adding 900,000 barrels of new export capacity from the southern port. An increase in oil revenues was also achieved in support of the financial budget, and we also achieved an increase in increasing refining capacities."
Abdel Fanni stated, "Activating Iraq's role in OPEC Plus, working with producing countries to stabilize global markets, and working to enhance and increase the horizons of cooperation with neighboring countries, the region, and the world." LINK
Iraqi dinar faces volatility: expert predicts stabilization amidst political tensions
Iraq's currency market has been witnessing fluctuations recently, with the US dollar's exchange rate against the Iraqi dinar showing unpredictability. Amidst this backdrop, academic and economic expert Khaled Haider shared insights with Shafaq News Agency, shedding light on the factors contributing to the dollar's fluctuation and his expectations for future stability.
The global political landscape has a direct impact on the financial and economic stability of regions, and recent events, including the crisis in Gaza and accusations against Iran of supporting the Hamas movement, have added complexities to Iraq's economic scenario. Haider pointed out that these events, particularly concerns about Tehran's influence in Iraq, are key reasons behind the expectations of a dollar price rise. As a significant economic hub for its neighbor in the Eastern Province, Iraq has become a focal point in these financial developments.
Administrative and financial corruption within Iraq's system has exacerbated the exchange rate disparity. Haider highlighted how corruption has led to individuals benefiting from these differences, prompting the Central Bank of Iraq to inject substantial dollars into the currency auction. Despite the daily need for currency ranging from $190 to $200 million, the bank has been pumping more significant amounts to manage the exchange rate to reach $250 million daily.
Haider stated, "Near-term expectations may be inaccurate, but it is expected that the price of the dollar in the markets will approach the government pricing at the beginning of next year after the implementation of the Central Bank of Iraq's decision to ban financial transactions in anything other than the Iraqi dinar, and this will make the Iraqi dinar more powerful in local markets."
Regarding the impact of the fluctuating dollar exchange rate on citizens, Haider emphasized the negative consequences, especially in a country like Iraq, which is heavily reliant on imports. The widening gap between the official exchange rate and the black market rate, where the dollar reached above 160,000 dinars against 100 dollars, directly affects the prices of consumer goods, worsening the financial strain on Iraqi households.
Earlier reports from Shafaq News Agency revealed a slight decline in dollar prices, with rates dropping to 165,250 dinars against 100 dollars after the closure of Baghdad's central Al-Kifah and Al-Harithiya stock exchanges. The morning prices had stood at 166,000 dinars against 100 dollars.
FIREFLY: The black market dollar rate is at 1680 now continuing to rise...
FRANK: Of course the black market rate is continuing to rise because it's constantly being suffocated by Sudani and Alaq with the monetary reform process.
Question: "Do you think Iraq will eclipse the UAE? " Yeah I do. I think they'll eclipse all middle eastern currencies because all Middle Eastern currencies will be inside of Iraq. It's the only country that can say that.
Remember, Sudani told the citizens in a week I will announce and introduce a new banking service that will decline the USD. That equals to an increase in the Iraqi dinar. He said it.
Rising Dollar Rates in Baghdad and Erbil: Economic Implications and Potential Solutions
Shafaq News/ Iraq's Minister of Electricity, Ziyad Ali Fadel, along with a delegation of energy officials, held talks with senior Turkmen officials on the final arrangements of an anticipated gas deal during a visit to Aahgabat earlier today, Tuesday.
The Iraqi delegation, led by Minister Fadel met with Turkmenistan's energy officials, led by the State Minister for Gas Affairs, Maksat Babayev. The visit was a first by an Iraqi government official to Turkmenistan.
The meeting, according to an official statement by the Iraqi ministry of electricity, was scheduled to finalize the agreement for the supply of Turkmen gas to Iraq.
Minister Fadel reiterated the Iraqi government's commitment to enhancing economic cooperation with Turkmenistan across various sectors, expressing optimism about signing the gas supply agreement in the near future.
Fadel emphasized the importance of the agreement in securing essential and diversified fuel sources while ensuring the sustainability of electricity current in Iraq.
According to the statement, as per the draft agreement between the two nations, Turkmen gas will be supplied to Iraq through the Iranian pipeline network, which is interconnected with Iraq's pipeline infrastructure. This gas will be directed to power stations located in central and southern Iraq, bolstering the country's energy sector.
Iraq, Turkmenistan hold talks to finalize major gas deal
Shafaq News/ Iraq's Minister of Electricity, Ziyad Ali Fadel, along with a delegation of energy officials, held talks with senior Turkmen officials on the final arrangements of an anticipated gas deal during a visit to Aahgabat earlier today, Tuesday.
The Iraqi delegation, led by Minister Fadel met with Turkmenistan's energy officials, led by the State Minister for Gas Affairs, Maksat Babayev. The visit was a first by an Iraqi government official to Turkmenistan.
The meeting, according to an official statement by the Iraqi ministry of electricity, was scheduled to finalize the agreement for the supply of Turkmen gas to Iraq.
Minister Fadel reiterated the Iraqi government's commitment to enhancing economic cooperation with Turkmenistan across various sectors, expressing optimism about signing the gas supply agreement in the near future.
Fadel emphasized the importance of the agreement in securing essential and diversified fuel sources while ensuring the sustainability of electricity current in Iraq.
According to the statement, as per the draft agreement between the two nations, Turkmen gas will be supplied to Iraq through the Iranian pipeline network, which is interconnected with Iraq's pipeline infrastructure. This gas will be directed to power stations located in central and southern Iraq, bolstering the country's energy sector.
AN INTERNATIONAL APPROACH TO SUPPORT THE DEVELOPMENT FUND IN IRAQ
“The Investment Committee met today with the Prime Minister’s Advisor for Investment Affairs, who is the CEO of the Fund.” Al-Bazuni explained, “We have found serious steps in this aspect and an internal system for investments has been established. These will be environmental steps by having a correct investment environment that mimics countries investing in neighboring countries that have investment funds.”
He added, “We have begun the first step by establishing and financing the fund, and it will see the light soon, and there is an international trend towards this matter.”
Please see full article in the articles section.
(This article is all about what to do with surplus oil revenues. It sounds to me they don’t want to just pile the money as cash in US banks any longer. This is how they have a 113 billion plus in NYC banks. So diversifying the money in sovereign funds could fund many of their projects instead of creating a deficit in the budgets. VERY, VERY SMART! 😊)
To solve the crisis of the rise in the dollar… Parliament reveals the method and determines the party responsible for its implementation
To solve the crisis of the rise in the dollar... Parliament reveals the method and determines the party responsible for its implementationToday, Monday, the Parliamentary Finance Committee revealed the method for resolving the crisis of the high exchange rate of the dollar in the local market, while identifying the party responsible for taking this solution.
Committee member Jamal Cougar added, in a press statement, that solving the dollar crisis requires adopting one solution, which is to find a way to make some transfers for small merchants, who work to finance their imports via (black transfers), as these transfers continue on a daily basis, despite all government measures.
Koger explained that the government and the central bank are the two bodies authorized to find a solution to these transfers through dialogue and negotiation with the American side, and without that there will remain a large difference between the official price and the parallel price in the local market, and this is the origin of the crisis, but there are no solutions to it before. The relevant authorities.
During the past months, the dollar exchange rates witnessed a noticeable increase, while prices exceeded the barrier of 165 thousand dinars for every 100 dollars, which ignited the market and raised the prices of food and other commodities, in light of merchants’ fears of the losses that may befall them as a result of this rise.
Iraqi dinar IQD - we do not know when the IQD will revalue or increase in value against the US dollar however out of each of the [low value] currencies [Vietnam dong, Indonesia IDR, Filipino PHP, Egyptian EGP, Turkish TRY, Zimbabwe] Iraq has the most natural resources and the greatest positioning for global financial growth.
Just because the value increases against the US dollar does not mean the currency will be on the Forex market and just because the Iraqi currency increases in value also does not mean we as investors will have access to the currency.
Clare
Article: "An economic expert told Nina: Preventing the withdrawal of dollars in Erbil via ATM, i.e., an automated teller machine, is a health measure ”
Quote: "He stressed that this measure will contribute to the elimination of parallel markets and parallel exchange rates, the end of the state of dollarization, and the trend towards an automatic increase in the value of the Iraqi dinar."
Determine 3 Points To End Dependence On The Dollar In Iraq
Information / Baghdad... Representative Hussein Habib, on Tuesday, identified three basic points to end reliance on banking transactions in dollars within Iraqi markets.
Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..
Habib said in an interview with Al-Maalouma, “There are many solutions to end the file of the rise in the dollar exchange rate in the country’s parallel markets, which has a direct impact on prices, especially with the presence of speculators, whales, and influential networks that benefit from any crisis in reaping profits through their control of the dollar file.” ".
He added, "There are 3 important horizons for ending the dollarization of markets in Iraq, the most prominent of which is identifying the segments entitled to deal in dollars, stressing the shift to dealing in dinars at home, and pushing the authorities to increase their participation in the file of providing basic materials, such as food, medicines, and other materials, and putting them in Iraqi dinars in the markets, in addition to... Reopening factories in order to reduce the rate of imports and thus reduce the export of dollars abroad.”
He pointed out that "there are external factors affecting the dollar file, especially by Washington, but reducing imports and relying on national production is the most important factor in reducing demand for the dollar and relying on the national currency in all internal exchanges."
The exchange rate of the dollar in the parallel market witnessed an increase in recent weeks and broke the barrier of 168 thousand dinars for every 100 dollars. LINK
An Economic Expert Details The Reasons For The Rise In The Dollar: What Is Happening In Iraq Is Organized Smuggling
Posted On2023-11-07 By Sotaliraq On Tuesday, economic expert Nabil Al-Marsoumi detailed the reasons for the rise in dollar prices, while pointing out that what is happening in Iraq is organized smuggling of the dollar.
Al-Marsoumi stated, “What is happening in Iraq is not speculation in the black dollar in the parallel market, but rather what is happening on the ground is an organized smuggling operation of the traveler’s dollar or the cash dollar for two basic reasons.”
Al-Marsoumi added, “The first reason lies in the fact that some goods imported from abroad that are not included in the electronic platform, including gold, drugs, alcoholic beverages, and cigarettes, some of which have a very large value, that is, no less than a quarter of a billion dollars annually, on the one hand.”
He added, “On the other hand, there is a strong demand for the dollar in the parallel market because of the need for it in order to settle commercial initiatives or Iraq’s imports of Iranian goods, which amount to 10 billion dollars annually due to the sanctions imposed on it, which prevent the settlement of commercial transactions with bank transfers.”
He pointed out that there is “a large segment of travelers who intend to travel to countries sanctioned by America. These people do not obtain the dollar at the official price, but rather from the parallel market, which has led to a widening of the gap between the parallel and official prices in the Iraqi market.” LINK