Al-Alawi expresses his support for economic transformation and stresses the importance of dealing in multiple currencies
Al-Alawi expresses his support for economic transformation and stresses the importance of dealing in multiple currenciesToday, Tuesday, Member of Parliament Jassim Al-Alawi expressed his opinion on the current economic transformation, pointing out the importance of dealing in multiple currencies instead of relying exclusively on the US dollar.
In this context, Jassim referred, in a statement to an NRT Arabia correspondent in Baghdad, to the state of economic monopoly that the United States is witnessing and its restriction of economic operations in dollars, which causes embarrassment in the event of a dispute.
Jassim explained that any country that follows an American policy may face concealment of its dealings and the imposition of sanctions and pressure, which affects its economic reality and monetary circulation in that country.
He added, “This step taken by Iraq is not only an isolated step, but rather reflects a global trend towards liberating transactions from the dominance of the American economy.”
In a prediction for the coming period, Jassim expressed his expectation that currencies other than the dollar will enter Iraq, noting, “the presence of other currencies with a weight and size commensurate with the economic reality.”
He stressed that these currencies are widely circulated in Asian countries, including countries allied with Iraq, such as China and Russia, stressing that “converting to other currencies can provide broader economic opportunities and greater competition for the beneficiaries of these countries.”
Washington waves the dollar bill.. The US Federal Reserve continues to tamper with the Iraqi dinar, 16 NOV
Washington waves the dollar bill.. The US Federal Reserve continues to tamper with the Iraqi dinarInformation/report..
The American administration continues to work hard to destabilize the internal situation in Iraq, by creating many problems, which it has worked on over the past period, including those related to the security, economic, and even political aspects in light of the interference of its ambassador in Baghdad in issues outside her diplomatic work.
Over the past two years, the US Federal Reserve has worked to impose its unfair conditions aimed at weakening the Iraqi dinar against the dollar, under the pretext of ongoing smuggling operations.
The dollar selling market is witnessing a state of instability in light of the continuous rise and fall, which has created a worry in the Iraqi markets.
Representative Muhammad Al-Baldawi identified four factors behind the continued turmoil in the dollar market in Iraq.
Al-Baldawi said in an interview with “Al-Ma’louma” that “the post-2003 accumulations, the security unrest, and the lack of clarity of a comprehensive vision for reviving the national economy led to the dollar becoming an influential standard in the economy, especially since all the oil sold goes to a bank account in America before it is sold.” He arrives in Baghdad.
He added, “The turmoil occurring in the parallel market and the rise in the dollar exchange rate in recent weeks are clearly behind 4 important factors, most notably the US Federal Reserve’s delay in sending dollar shipments to the central bank and its repeated threats to impose sanctions on it within the framework of an American pressure policy that wants to directly strangle the national economy.” “.
He pointed out that “the economy is a clearly defined American game that is trying, through the dollar, to raise prices and create instability in the markets,” pointing out “the importance of reconsidering the diversification of the basket of currencies and seeking to end the file of dollarization in the markets by adopting the dinar to pay internal dues to reduce… Demand on the parallel market.
In turn, the Parliamentary Finance Committee revealed the details of the discussions between Iraq and America regarding the price of the dollar against the dinar, while indicating that the Central Bank of Iraq has developed solutions to control the continuous rise in exchange rates.
A member of the Finance Committee, Moeen Al-Kazemi, said in an interview with Al-Maalomah, that “the Central Bank is making intensive efforts through its discussions with the US Federal Reserve to ease restrictions on Iraqi banks, as well as developing practical solutions to liberalize the Iraqi currency by opening outlets in most countries of the world for dealing.” In various foreign currencies instead of the dollar.
He added, “The restrictions imposed by the US Federal Reserve and the failure to release Iraqi funds in dollars are behind political reasons for the purpose of its dominance over countries of the world, including Iraq.”
He pointed out that “Iraq receives approximately $10 billion monthly from selling oil, but it is deposited in the US Federal Reserve, which is constantly trying to obstruct its release.”
Al-Kadhimi continued, “The Central Bank has taken new measures by opening multiple outlets in countries around the world that deal in the currencies of the Chinese yuan, the Indian rupee, the European euro, and the Emirati dirham.”
It is noteworthy that the US sanctions are raising a wave of concern among the Iraqis, especially since all government and central bank measures have not succeeded in bringing the parallel exchange rate closer to the official rate.
I called JP Morgan Chase corporation office and I was told when the Iraqi dinar is reinstated...
FRANK: What?? Chase told you this?!
Bank Story: He said when the IQD is reinstated I am supposed to go to Houston, Texas Chase Bank and they would be able to exchange my currency and set up a private account there for me. I just wanted to share my JP Morgan Chase story with you. This is amazing isn't it?
FRANK: Follow up on this don't leave it there.
BANK STORY MAN: I called JP Morgan Chase financial office again just to make sure that it wasn't a fluke and reassuring myself...This time I got a different advisor...Guess what? He told me the same thing...that Iraq was about to reinstate their currency...I wanted to find out in Houston area which JP Morgan Chase Bank would be exchanging the Iraqi dinar...He transferred my call to the JP Morgan Chase bank and a lady by the name of 'Ms Bank Lady' didn't deny anything. I asked her and she suggested that I call back tomorrow and talk to one of the bank agents about setting up an appointment with them to find out how to do my exchange with the bank...
FRANK: This is incredible information. I'm so glad you pursued it to the next level...
Sudanese Advisor - The Iraqi-American agreement constitutes the beginning of stabilizing the exchange rateMazhar Muhammad Saleh, advisor to Prime Minister Muhammad Shia al-Sudani for financial and economic affairs, saw the agreement of the Central Bank of Iraq and the representative of the US Federal Bank, regarding strengthening the balances of Iraqi banks in dollars and increasing their number, and strengthening other local banks with balances from an international currency basket, “a step towards stabilizing the dollar exchange rate” in The country.
Saleh added in a press statement, “The Iraqi Monetary Authority holds foreign currency reserves, which are the highest in Iraq’s financial history,” noting that “Iraq has the highest foreign currency reserves and high commercial efficiency. Today, the reserve currencies are sufficient for Iraqi trade for a period of (fifteen months).” While the global standard is (three months).”
He explained that external financing for the private sector takes place through the compliance platform, which required conditions that lasted for a year from last October to this November, and thus the banks adapted on the basis of global compliance with the use of foreign currency for the purpose of trade and not for other purposes that cause problems for the state.
He noted, “The agreement between Iraq and the United States indicates the presence of high flexibility in financing the private sector, by strengthening a number of banks in dollars, which have adapted themselves to global compliance and will finance Iraq from major global commercial centers.”
Saleh pointed out that more than 85% of foreign currency demand is made through the external platform managed by the Central Bank of Iraq, by enhancing the balances of foreign banks, while the parallel market constitutes only 15% of the speculators’ market, stressing that this The agreement marks the beginning of price stability in the exchange market.
An Iraqi government source had previously revealed an Iraqi-American agreement aimed at strengthening the balance of 10 Iraqi banks in dollars. He also revealed an increase in the number of Iraqi banks whose balances in Chinese yuan would be strengthened through the Singapore Development Bank to 13 banks, while the number Banks that have strengthened their accounts in Indian rupees with the Development Bank of Singapore 2, and other banks will be added within the next two weeks.
Dollar adjustment package: A deal with China and India precedes serious discussions with the US Treasury
Dollar adjustment package - A deal with China and India precedes serious discussions with the US TreasuryA government source said, on Tuesday, that the government is working on a draft “equal deal” to exchange trade and imports with China and India within the framework of measures to control the dollar exchange rates, noting that the Prime Minister directed the activation of a joint committee to hold serious discussions with the US Treasury regarding transfers.
The government is now working on an “equal deal” project to exchange trade and imports with some countries such as China and India.
The government is currently considering establishing a free zone to import materials and then market them to the private sector and ensure their delivery to the consumer at competitive prices and in Iraqi dinars.
The government is studying a re-export project and there are important discussions in this regard.
The government issued a series of measures to develop electronic payment systems and reduce dependence on cash.
The Prime Minister directed the activation of a joint committee between the government, the central bank and the private sector, under the supervision of his office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency selling window, and the committee began its meetings.
Iraqi Central Bank Allows Dollar Imports Amid Exchange Rate Concerns
The Central Bank of Iraq has granted formal permissions to three private banks to import US dollars in amounts reaching up to $100 million to meet customer needs. One shipment of these amounts has already arrived in Iraq, and several other requests are on their way. In addition, the Trade Bank of Iraq (TBI) is in discussions with several international companies to transfer amounts up to $120 million, expected to be completed in the coming days.
Government Measures to Address Exchange Rate Difference
In an attempt to address the exchange rate difference, the Iraqi government has approved a series of measures. These include streamlining the import process, simplifying account opening and deposit operations, and initiating negotiations with Iran to regulate trade between the two nations. The government is also keen on developing electronic payment systems to reduce dependence on cash transactions.
Dollar Availability and Impact on Iraqi Tourism
Additional talks are underway to facilitate the import of dollars and make them available through banks and exchange companies. This initiative aims to meet the needs of Iraqi tourists and pilgrims traveling to countries where the dollar is not readily available. The selling price of the dollar in Baghdad and Erbil has dropped to 156500 Iraqi dinars for 100 dollars, thus impacting the tourism economy.
US Sanction Exemptions and Their Implications
The US has renewed an exemption from sanctions that allows Iraq to pay Iran for electricity. This exemption enables Iraq to use its funds to pay for Iranian electricity imports via restricted Iranian accounts in Iraq. However, concerns are growing over the possibility of extending Baghdad’s exemption from US sanctions, allowing Iran to access $10 billion of its frozen assets in Iraq. This concern stems from Iran’s role in backing armed Palestinian groups, leading to increased pressure on Washington to adopt more stringent policies against Tehran.
In the city of Sulaymaniyah, the exchange rate of the dinar against the dollar holds steady in the local market. As it stands today, 100 dollars are trading for 160,000 dinars.
Current Exchange Rates
The current exchange rate is pegged at 1 USD to 1310.138 IQD, according to live exchange rates for the Dollar to Iraqi Dinar. This data reveals that the value of the dinar in Sulaymaniyah is performing robustly against the dollar.
Impact of Market Sentiment
Recent articles attribute the decline in the US dollar price against the Iraqi dinar to optimistic market expectations and sentiment. Even though these articles do not explicitly refer to Sulaymaniyah, their insights into the exchange rate dynamics in Iraq are relevant and applicable to Sulaymaniyah’s financial landscape.
Money Transfer and Currency Conversion
For those interested in currency conversion or sending money abroad, various money transfer partners are available. While their services extend to converting the United States Dollar to the Iraqi Dinar, they do not specify Sulaymaniyah. However, given the city’s stable exchange rate, these services could prove beneficial for both local and international transactions.
Frank26:"OVERTIME FOR THE REFORMS!!!"............F26
The Minister of Finance directs the Accounting Department to continue working on Fridays and Saturdays until the end of the current year
11/14/2023 Baghdad -
The Minister of Finance, Taif Sami, today, Tuesday, directed the Accounting Department to continue working on Fridays and Saturdays until the end of the current year.
The ministry said in a statement, a copy of which was received by Mawazine News, that “Minister of Finance, Taif Sami, directed the Accounting Department to continue official working hours on Fridays and Saturdays until the end of the current year.”
She added, "This came with the aim of accelerating the completion of financing procedures and the approaching end of the fiscal year." LINK
************
Frank26:"SUDANI & ALAQ ON THE MONETARY REFORM EDUCATION!!!"...........F26
A government source reveals a package of measures to address the difference in the exchange rate
11/14/2023
A government source revealed, today, Tuesday, a package of measures to address the difference in the exchange rate, noting that Prime Minister Muhammad Shiaa Al-Sudani directed the activation of a committee to hold serious discussions with the US Treasury Department regarding transfers.
The source explained, according to the official agency, that the package of measures included the following:
1- Organizing the import process and ensuring the entry of the largest number of merchants and importers to the foreign currency sales window by facilitating account opening procedures, deposit operations and other procedures related to issuing the importer’s identity, which would facilitate the requirements of (know your customer). ) for the category of merchants and importers.
2- The government and the Central Bank are conducting ongoing negotiations with the Iranian side to regulate trade between the two countries and make the best options regarding payment of dues and amounts, and discussions are taking place at a good pace.
3- The Prime Minister directed to work on a number of important projects to ensure that the poor and middle-income groups are not affected by the exchange rate difference, as the Ministries of Commerce and Health are working to import important materials and provide them in Iraqi dinars at stable prices, an example of which is the food basket project (supported by stable prices), the medicine basket and the basket. Construction and a basket of reserve materials for the transportation sector... some of which work began some time ago.
4- The government is now working on a project (an equal deal) to exchange trade and imports with some countries, such as China and India, and in their own currencies from the main trading partners of Iraq, such as India, China, and some neighboring countries.
5- The government is currently considering establishing a free zone to import materials and then market them to the private sector and ensure their delivery to the consumer at competitive prices and in the Iraqi dinar.
6- The government is currently studying a re-export project and there are important discussions in this regard.
7- The government issued a series of measures to develop electronic payment systems and reduce dependence on cash... and in the coming days a series of other decisions will be issued regarding the pricing and incentive policy for services provided through electronic payment.
8- The President directed the activation of a joint committee between the government, the central bank, and the private sector, under the supervision of his state office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency selling window, and the committee began its meetings from now.
9- The government is holding ongoing discussions with the Central Bank of Iraq on a number of topics, including facilitating procedures related to Iraqi banks importing the dollar (cash). This process has already begun with some banks importing the dollar, and the process will expand to include other banks. Work is also underway to implement a contract. Agreements to supply the currencies of some countries to be provided through banks and banking companies to meet the needs of Iraqi tourists and pilgrims going to those countries without the dollar currency. LINK
I JUST WANTED TO SHARE SOMETHING WITH YOU IN MY OPINION IF I WAS THE CBI, I WOULD BE FOCUSING ON THE NEW EXCHANGE RATE AND THE NEW CURRENCY TO COME OUT TOGETHER.
WITH THAT SAID I WOULD LIKE TO SHARE MY OPINION, THAT SUDANI IS IN ERBIL WITH BARZANI, AND THEY ARE DEALING WITH THE LAST THREE PARAGRAPHS OF THE HCL. THEIR INTENT IS TO RELEASE IT VERY SOON
IF THAT IS THE CASE, THEN IN MY OPINION, THE NEW EXCHANGE RATE AND THE NEW LOWER NOTES SHOULD FOLLOW.
REMEMBER WHAT I’VE ALWAYS SAID, IN MY OPINION THE MOMENT YOU SEE THE HCL SECONDS LATER YOU WILL SEE THE NEW EXCHANGE RATE.
GOD BLESS YOU ALL…….FRANK26
[Bank Story]
I called JP Morgan Chase corporation office and I was told when the Iraqi dinar is reinstated...
FRANK: What?? Chase told you this?!
Bank Story: He said when the IQD is reinstated I am supposed to go to Houston, Texas Chase Bank and they would be able to exchange my currency and set up a private account there for me. I just wanted to share my JP Morgan Chase story with you. This is amazing isn't it?
America Extends Iraq's Exemption From Sanctions Imposed On Iran
Energy Economy News _ Baghdad The United States of America announced that it had extended for four months the exemption period granted to Iraq from sanctions related to dealing with Iran, allowing Baghdad to continue importing energy from the Islamic Republic.
A senior US State Department official told reporters, requesting that his name not be published, that "this measure will allow Iraq to use its own funds to pay the costs of importing electricity from Iran, which will be placed in Iranian accounts restricted in Iraq."
He added, "Iran will not be able to use this money except for humanitarian needs."
Due to the sanctions imposed by the United States on the Islamic Republic, Baghdad cannot directly pay Tehran for its imports of Iranian gas.
The senior American official explained that the total debt owed to Tehran by Baghdad in exchange for previous Iraqi imports of Iranian gas amounts to about 10 billion dollars.
To force Baghdad to pay its unpaid debts, Tehran regularly suspends its gas supplies to Iraq, which desperately needs these imports to operate electricity production plants.
Iranian gas supplies cover a third of the needs of electricity production plants in Iraq.
The exception also stipulates that a portion of Iranian gas funds be transferred to Oman.
This is the 21st time that Washington has extended this exception to the sanctions since 2018.
Although Iraq is an oil country, it relies heavily on Iran in the field of energy, as it imports a third of its consumption needs of gas and electricity from it due to its dilapidated infrastructure, which makes it unable to achieve self-sufficiency to meet the needs of its population of 40 million people.
Iraq currently produces 16,000 megawatts of electricity, which is much less than its estimated need of 24,000 megawatts, reaching 30,000 in the summer, while its population may double by 2050, which means an increase in its energy consumption, according to the United Nations.
The previous US administration, under President Donald Trump, withdrew from the nuclear agreement concluded with Iran and at the end of 2018 reimposed sanctions on the Islamic Republic.
Because of these sanctions, many countries and international companies refrain from dealing with the Iranian government or even with Iranian companies for fear of being affected by the sanctions.
Diversifying The Foreign Currency Commodity In Iraq..Does It Increase The Value Of The Dinar?, 15 NOV
November 14, 2023 Baghdad/Al-Masala Al-Hadath: The Finance Committee in the House of Representatives said, on Monday, that there is a necessary and important need to diversify the basket of foreign currencies in Iraq and not depend on the US dollar. Diversifying the basket of foreign currencies also helps enhance trade with other countries that use these currencies. It also contributes to increasing the attractiveness of foreign investments.
Members of the committee believe that “the basket of foreign currencies in Iraq must be diversified and not relied on the dollar in commercial transactions, whether external or even internal, as this reduces American dominance over the Iraqi economy.”
The committee considers that the Iraqi economic environment is ready and prepared to strengthen banks in various foreign currencies and not be limited to the US dollar.
The committee expects that the coming days will witness various commercial transactions through the UAE dirham, as well as the Chinese yuan and other currencies, and this will reduce the demand for the dollar, and will have an impact on reducing the dollar exchange rate in the parallel market.”
The currencies that could be useful to Iraq are the euro, as it is the second most widely used currency in the world, and it is a relatively stable currency, in addition to the Japanese yen, as a relatively stable currency, which is a basic currency in many financial markets, as well as the Chinese yuan, which is a rising currency, and a basic currency in Many emerging markets, in addition to the UAE dirham and the Saudi riyal, which is a basic currency in the Gulf region. https://almasalah.com/archives/72960
No creo que vaya a necesitar mucho tiempo: somos muy cercanos y no pensamos que haríamos una llamada esta noche y su respuesta fue de un miembro del personal de RC que dijo: De ninguna manera, pero estaban escuchando. llamó a HSBC para decirle que esto estaba cerca y que iba a funcionar y hoy se veía bien y ahora encontramos la razón y esto aporta algo: ISO 20022 permite el intercambio de todas las monedas y el comercio de múltiples monedas ahora que esto está conectado. a Starlink y qué más y a nuestros amigos en Irak y esto podría reflejar a los EE. UU. y su falsa administración: tienen una nueva tasa en el país y los cajeros automáticos están emitiendo denominaciones más bajas y esta es la cuestión: los cajeros automáticos están funcionando a al menos en los aeropuertos y en todo el país y aquí está el tema: necesitan publicar la nueva tarifa a nivel internacional para convertirse en miembro de pleno derecho de la OMS y necesitan que se publique en la Gaceta y sé que estás cansado de escuchar y ¿Cuántas veces hemos pensado que se iba a publicar?
El miércoles y el sábado tuvimos la HCL y los pagos de jubilación y pensiones, pero se realizó una tasa en el país, pero aún no se ha publicado en todo el mundo. puedo verlo. Sabemos que el dólar no se acepta oficialmente en Irak y que ha desaparecido por completo y ya no se imprime y que deberíamos tener el USN como nuestra moneda oficial y una alta fuente militar dijo "En cualquier momento", por lo que deben cumplir plenamente con la OMC y hay un impulso para hacer esto y tenemos que tener fe en que estará hecho mañana y por eso el Tesoro quiere que esto suceda antes de Thanksgiving y si comenzamos eso les daría 8 días y quieren el Zim.
de inmediato y eso les daría, y si nos notifican mañana y también dependiendo de que Irak obtenga esa tasa y cumpla con los requisitos, lo que permite pagos con TODAS las monedas pagadas, todas con capacidad comercial y conectadas con Starlink, ¿se le ha permitido a Irak publicar esto? – ¿O les hemos impedido publicar esa tasa?
Hemos visto la tasa en las pantallas frontal y posterior (no es culpa de los bancos ni siquiera del Tesoro y el nuevo Tesoro está bajo la República restaurada y esto podría ser algo que tengamos que superar) usando el sistema Starlink para interactuar con el QFS y las cartas y todo. Entonces pensamos que esto se había hecho aparte de esa tasa en el Gazette y creo que debería ser esta semana y los líderes de RC decían que esperaban que el 90% de los centros cerraran antes del Día de Acción de Gracias; entonces, ¿cómo podría suceder eso si esos centros están cerrados y nosotros no he empezado, así que para terminar tenemos que empezar y ahora ya sabes por qué y qué estamos esperando y estoy animado para mañana, pero puede que tarde hasta el sábado; digámoslo de esta manera 8 días no es mucho, ¿verdad? ?
Así que esa es la versión larga y extendida de lo que es la información. Sé que estamos muy, muy cerca y podría suceder en cualquier momento ahora y mañana podría ser eso. Sabemos que esto es lo que Dios ordenó desde la Fundación de la Tierra para restaurarla y esto es parte. de esa restauración y nuestra parte es estar en Fe para que ESTO VAYA MAÑANA y por favor estén de acuerdo conmigo y eso es lo que estoy buscando, esta Redención y Revalorización son parte del Plan de Dios y tenemos que llevar esto al resto del mundo.
Mundo y es por eso que hemos sido llamados y elegidos para ser parte de él y tenemos que mirar esto como un Evento Soberano al que Dios nos ha llamado y es por eso que estamos haciendo proyectos y Reconstruyendo América y haciendo todos los proyectos. Hemos hablado – AHORA Bruce creo que va a hablar sobre Sue y sus programas. Ahora creo que esa es toda la información que Bruce tiene para nosotros esta noche –
Así que, por supuesto, agradecerá a Sue, Bob, GCK y Pastor. Scott, Jeannie y Larry y, por supuesto, todos los oyentes de todo el mundo. Y sin falta esta noche ORANDO EL LLAMADO, ASÍ QUE POR FAVOR ÚNASE A BRUCE CON PLENA FE PARA QUE ESTA BENDICIÓN CELESTIAL NO SE DETENGA MÁS Y SE MANIFIESTE COMPLETAMENTE CON ESAS NOTIFICACIONES DE MAÑANA - Y POR FAVOR, SIGAN ESAS ORACIONES HASTA QUE LLEGAMOS COMPLETAMENTE ESAS NOTIFICACIONES POR CORREO ELECTRÓNICO. Sabemos que tenemos los Guerreros de Oración más Maravillosos de todo el mundo, así que, POR FAVOR, MANTENGA ESTAS ORACIONES SENTIDAS. Bruce dijo que, con suerte, la tasa para Irak se publicará mañana. Los amo a TODOS,
Gem
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TRANSLATE IN ENGLISH:
BRUCE NOVEMBER 14, 2023
ONLY INTELLIGENCE
WHERE ARE WE NOW???
I don't think it's going to take much time - we're very close and we didn't think we'd make a call tonight and his response was from an RC staff member who said: No way, but they were listening. Called HSBC to tell them this was close and it was going to work and today it looked good and now we found the reason and this adds something: ISO 20022 allows the exchange of all currencies and the trading of Multiple currencies now that this is connected. to Starlink and what else and to our friends in Iraq and this could reflect the USA and their false administration: they have a new rate in the country and the ATMs are issuing lower denominations and this is the thing: the ATMs are working at least in airports and around the country and here's the thing: they need the new fee internationally to become a full published member of the WHO and they need it to be published in the Gazette and I know you're Tired of hearing and how many times have we thought it was going to be published?
On Wednesday and Saturday we had the HCL and retirement and pension payments, but a rate was made in the country, but it has not yet been published worldwide. I can see. We know that the dollar is not officially accepted in Iraq and that it has completely disappeared and is no longer printed and that we should have the USN as our official currency and a senior military source said "Any time" so they must fully comply with the WTO and there is a push to do this and we have to have faith that it will be done tomorrow and that is why the Treasury wants this to happen before Thanksgiving and if we start that would give them 8 days and they want the Zim.
immediately and that would give them, and if they notify us tomorrow and also depending on Iraq getting that rate and meeting the requirements, allowing payments with ALL currencies paid, all commercially capable and connected to Starlink, have you been allowed Iraq to publish this? – Or have we prevented them from publishing that rate?
We have seen the rate on the front and back screens (it is not the fault of the banks or even the Treasury and the new Treasury is under the restored Republic and this might be something we have to overcome) using the Starlink system to interact with the QFS and the letters and everything. So we thought this had been done apart from that rate in the Gazette and I think it should be this week and RC leaders were saying they expected 90% of the centers to close by Thanksgiving; so how could that happen if those centers are closed and we haven't started, so to finish we have to start and now you know why and what we are waiting for and I am excited for tomorrow, but it may take until Saturday; Let's put it this way 8 days isn't much, right? ?
So that's the long, extended version of what information is. I know we are very, very close and it could happen any time now and tomorrow it could be that. We know that this is what God commanded from the Foundation of the Earth to restore it and this is part of it. of that restoration and our part is to be in Faith so THAT THIS GOES TOMORROW and please agree with me and that is what I am looking for, this Redemption and Revaluation are part of God's Plan and we have to bring this to the rest of the world.
World and that is why we have been called and chosen to be a part of it and we have to look at this as a Sovereign Event that God has called us to and that is why we are doing projects and Rebuilding America and doing all the projects. We've talked – NOW Bruce I think is going to talk about Sue and her programs. Now I think that's all the information Bruce has for us tonight –
So of course you'll thank Sue, Bob, GCK and Pastor. Scott, Jeannie and Larry and of course all the listeners around the world. AND without fail tonight PRAYING THE CALL, SO PLEASE JOIN BRUCE IN FULL FAITH SO THAT THIS HEAVENLY BLESSING MAY STOP NO LONGER AND BE COMPLETELY MANIFESTED WITH THOSE NOTIFICATIONS TOMORROW - AND PLEASE FOLLOW THOSE PRAYERS UNTIL WE FULLY REACH THOSE EMAIL NOTIFICATIONS. We know we have the Most Wonderful Prayer Warriors around the world, so PLEASE KEEP THESE PRAYERS HEARTFUL. Bruce said the rate for Iraq will hopefully be released tomorrow. I love you all,
ECONOMIST: IT IS NOT POSSIBLE TO MINT AN IRAQI COIN CURRENTLY, AND INFLATION IS A THOUSAND TIMES HIGH
The economic expert, Abdul Rahman Al-Sheikhli, ruled out minting an Iraqi coin at the present time due to the high inflation of the dinar by 1,000 digits.
Al-Sheikhli said: For the program {Free Speech} broadcast by Al-Furat satellite channel this evening, it was said: “The issue of importing the dollar is not new. It was approved in 2010 by a measure by the Central Bank, and the new decision came at the request of merchants to cover the needs of the local market.”
He added, “The dollar in banking offices is either legitimate or through acquisition, and cash is sold to travelers, students, and patients abroad. The reality of the situation requires the presence of another source to provide the currency, and the Central Bank has obliged the import of the dollar exclusively through airports.”
Al-Sheikhly stressed that “the central bank will not be an intermediary in importing the dollar, but rather the banks that have relations with foreign banks and rely on their stock of the dollar.”
He also stated, “The political influence is very great on the economic process, which hinders its flexibility, and the entry of the imported dollar will be a competitive factor in the Iraqi street for the black and will have a very significant impact on reducing the price of the currency.”
Al-Sheikhli pointed out, “The most important factor in the fluctuation of the dollar is supply and demand, and the rise of the dollar and oil on balance contributed to raising the currency in the local market,” adding, “The US Federal Reserve does not delay remittances, but it audits them, and international standards for money laundering and supporting terrorism delay some attempts.”
He added, “Some banks operate in unprofessional ways, which led citizens to hoard currency and the need to restore confidence between the citizen and the banking system. The Prime Minister agreed with the Minister of Commerce to import materials at the official price and sell them at a discount.”
Al-Sheikhli added, “Iraq has inflation in the dinar, which is more than 1,000 and it is not possible to print coins at the present time. The Iraqi citizen must be educated to use the Visa card in his transactions.”
While he noted that “the Ministry of Finance’s intervention in raising the price of the dollar created a major problem,” calling on the Central Bank to “use its full independence and powers to control the price of the dollar, as the Central Bank is still deficient in resolving some of the existing problems,” concluding, “The American Federal Reserve has no authority over the Central Bank of Iraq.” Rather, it issues recommendations regarding violations.
We hold the highest currency reserve in the history of Iraq and the time for the stability of the dollar has begun – Sudanese Advisor
11-14-2023
We hold the highest currency reserve in the history of Iraq and the time for the stability of the dollar has begun - Sudanese AdvisorMazhar Muhammad, Advisor to the Prime Minister for Financial Affairs, said that Iraq today has the highest foreign currency reserves throughout its financial history, indicating that they are sufficient for Iraq to last 15 months, while the international standard is only 3.
Muhammad indicated in a statement to the official newspaper, followed by the 964 network , that “the Iraqi monetary authority holds foreign currency reserves, which are the highest in Iraq’s financial history,” indicating that “Iraq has the highest foreign currency reserves and high commercial efficiency. Today, reserve currencies are sufficient for Iraq’s trade for a period “Fifteen months,” while the international standard is “three months.”
He explained that “external financing for the private sector is done through the compliance platform, which required conditions that lasted for a year from last October to this November, and thus the banks adapted on the basis of global compliance with the use of foreign currency for the purpose of trade and not for other purposes that cause problems for the state.”
He noted that “the agreement between Iraq and the United States indicates the presence of high flexibility in financing the private sector, by strengthening a number of dollar-denominated banks that have adapted themselves to global compliance and will finance Iraq from major global commercial centers.”
Saleh pointed out that “more than 85% of the demand for foreign currency is done through the external platform managed by the (Central Bank of Iraq), by enhancing the balances of foreign banks, while the parallel market constitutes only 15% of the speculators’ market,” stressing that “this The agreement constitutes the beginning of price stability in the exchange market.”
Revealing the “reasons” for the dollar’s decline in Iraq and expectations for the next step
2023-11-14 08:09
Revealing the reasons for the dollars decline in Iraq and expectations for the next stepShafaq News/ On Tuesday, economic expert Nabil Al-Marsoumi attributed the decline in the price of the US dollar against the Iraqi dinar to what he called “good market sentiment and optimistic expectations.”
Al-Marsoumi said in an interview received by Shafaq News Agency, “The good market sentiment and optimistic expectations associated with the agreement between the US Federal Bank and the Central Bank of Iraq on a combination of policies and procedures were what was behind the recent rise in the dinar’s exchange rate against the dollar until the dollar reached 1,560 dinars.”
He added, “Although these measures have not been tested on the ground to determine the extent of their ability to narrow the gap between the official and parallel prices, therefore the price of the dollar will continue to decline for some time and then stabilize after that, perhaps close to 1,500 dinars.”
However, Al-Marsoumi expected that “the price of the dollar will rise again because the recent treatments and procedures did not address the essence of the problem, which is trade with Iran and Syria, and the problem of Iraqi travelers to Iran and Syria who are deprived of obtaining the dollar at the official rate.”
The economic expert pointed to other reasons behind the rise, which he called “the fatal duality in Iraq represented by the presence of two tax and customs tariff systems, the presence of illegal ports, weak control over official border ports, and the presence of goods that are not financed through the electronic platform, but rather through the parallel market, such as alcoholic beverages.” And cigarettes and drugs.”
Shafaq News Agency correspondent said today that dollar prices fell with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 155,500 Iraqi dinars against 100 dollars, while prices this morning were 159,500 dinars against 100 dollars.
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Wednesday Update- Some highlights by PDK-Not verbatim
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: GM Markz and Mods. Blessings to all.
Member: Happy Hump day…..hoping the RV is over the hump and we are heading to the end of the ride.
Member: Hump day feeling more like ground hogs day today
MZ: Lots of rumors out there today. There are more NDA’s and reports from you guys who know folks that are now under NDA’s as well…..Thanks for that.
MZ: I got a confirmation from a source that is not one of mine. They were told there were 3 paragraphs they were addressing on the HCL between Erbil , the Kurds and Baghdad …and RV would occur as soon as its finished. .I was always told when HCL was 100% done and official….we would get the new rate…..I had heard this from one of my sources…..but was glad to hear it confirmed from another. So that feels good …..Just 3 paragraphs to work through on the HCL……I thought this was great news.
Member: That news makes it all less pie in the sky and all the more practical, logical and tangible, MarkZ! Thanks for that!
MZ: “Zimbabwe –focused gold miner Caledonia reports profits of $5.7 million in Q3-reiterates production guidance.” Zimbabwe has huge amounts of gold and this is just one company. Zimbabwe has massive resources to allow them to change the value of their currency.
Member: Zim will be the sleeper. They are so wealthy with minerals and mining for the planet.
Member: Has the new rate been posted in the Iraq gazette yet?
MZ: No. If it had we would all be exchanging already.
Member: ISO20022 goes live all over the world the 19 th Nov. I think Iraq needs a rate.
Member: Bruce believes this hasn’t gone yet because Iraq isn’t Iso20022 yet
Member: ISO 20022 is a standard for electronic data interchange between financial institutions, covers financial information transferred between financial institutions QFS probably complaint banks will be.
Member: Iraq has over 200 countries meeting today and a couple more days, they would need a new rate to get investors.
Member: Has the Admiral been paid yet?
MZ: My admiral contact said he has not been paid…but they anticipate payment at any moment. I know they are prepped and ready.
Member: What happens if the stock market crashes before we get notifications?
MZ: That would force us to get notifications.
Member: I think Xi visiting the US is a big deal.
MZ: So Biden is supposed to be meeting with Xi on the west coast today…then doing some fundraising……. Interesting enough it’s in a town where a few of the Chinses elders are at. There is a lot of anticipation and the rumor mill from the Reno area are saying there are a few “last minute” negotiations. I don’t know what those could be. But we have heard a few of the Chinese elders are meeting with him “behind the scenes”. And that this meeting with Xi may be important. That’s coming from the rumormill.
Member: I learned at work yesterday that the FED has suspended the ordering of all new currency. banks can only order circulated bills...
Member: Canadian emergency alert system to be tested today | CityNews Toronto
Member: I heard Something VERY BIG is coming November 16-17th !!!
Member: Stay strong and positive. This is happening soon!!
Member: Many people will be traveling next week for Thanksgiving. Hope it happens before then
Andy Schectman for Miles Franklin joins the stream today. P;ease listen to the replay for his opinions and information.
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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM