STATUS OF THE RV
This was another hard Newsletter to write because I wanted to bring some very good news and could not. Yes, the currency reform process is in motion as the CBI is still attempting to manage the parallel rate of the black market. This inability still has lots to do with Iran as Iran is still stealing millions each week from Iraq through the banks. I even went so far as to hold off on publishing the Newsletter yesterday in the hope that I would have some very good news for you after my weekly call today, Wednesday to my CBI contact in Iraq. So, what I was told is still the same old, same old. The project to delete the zeros is still on hold. The education articles and news media reports have also been put on hold for now. The issues with the Iranian bombings in Iraq and Syria of US bases is not helping the situation either. Of course the Iranian backed politicians are pushing for the removal of US troops from Iraq. They would luv to fill the gap and occupy Iraq as a puppet country of Iran. But there are still enough true Iraqi patriotic politicians involved who like to see Iraq return to a TRUE sovereign country once again. And so, like in the US with the threat of the globalist ideology, the Iraqis also face this threat of an Iranian takeover of their country. Based on this I was told there is no way the US is going to signoff and allow a reinstatement of the dinar.
Remember we need security and stability in Iraq first and foremost to getting the dinar reinstatement. We have been told this over and over again in the past by both the CBI and the GOI. So, what will (has) contributed to destabilizing the security and stability of Iraq and the region?
Many of my blog readers ask me if the American forces will withdrawal from Iraq. I have to tell you it will NOT happen any day soon. Having said that let’s look deeper into this subject matter since this is a key event that could greatly impact our investment.
As investors in Iraq this would of course be disastrous for us, not saying what would happen to the Iraqi people and their suffering once again under an Iranian rule. The stability and security of Iraq would be greatly affected. It boggles my mind to see that Iraq has not yet made the effort it needed to provide the necessary security for its own country. But look at what President Biden is doing with the open borders in the US and so go figure. But remember Iraq is under certain restrictions too that prohibit them from a buildup of the forces needed to combat these kinds of threats. There are also Iraqi /Iranian sympathizers that still think Iran is on their side. It is a delicate situation in Iraq with the occupying Iranian militia leftover from 2014 ISIS invasion. I always said since 2014 that this would come to haunt Iraq and so it has.
Advisor to the Iraqi Prime Minister for Security Affairs, Khaled Al-Yaqoubi, confirmed today, Sunday (January 28, 2024), that Baghdad is trying to reach a formula with the American side to confront the threats, in reference to the recent attacks that targeted American bases. He explained, and I quote from the article – “Baghdad agrees with the Americans that the lesson of 2014 should not be repeated, in reference to the attacks launched by ISIS in Iraq,” stressing that “the lessons of the past are present to the Iraqis and Americans.”
If an American withdrawal would be disastrous since it has been leading the international coalition in Iraq since 2014, analysts find that and I quote – the “possible withdrawal” may leave the country under a security risk, and that it is not yet ready to deal with the deep challenges, starting with from the “strong” factions supported by Iran, to the ISIS terrorist cells that are still present, all the way to the factions’ control over Iraq’s money and capabilities.”
An American withdrawal similar to the 2011 by president Obama could jeopardize Baghdad’s ability to confront ISIS, or Popular Mobilization Forces groups such as: Kata’ib Hezbollah and Harakat al-Nujaba, which warned It may overthrow the Iraqi government if Iran requests it.
Hang on there is also some good news….
The Central Bank of Iraq decided just recently to restore the mechanism for financing Iraq’s foreign trade, starting next March. This is all part of slowly phasing out the electronic platform as they said they would do as 2024 rolls on. The Central Bank said in a letter addressed to the banks, which Al-Iqtisad News reviewed, that for the purpose of organizing financing operations for requests to enhance external balances, it was decided to implement the new requirements and mechanisms starting from March 1, 2024.
He added that banks wishing to enhance their balance with correspondent banks in all currencies should appoint an external auditor for the purposes of reviewing transfers in advance of the process of sending transfers. Banks wishing to enhance the balance must provide us with information about the names of the companies they wish to contract with within a maximum period of February 29, 2024. So, basically what the CBI wants is to know where the money is going and for the banks to certify it, by auditing.
If they re-instate the IQD to pre 2003 levels, it will remove the need to steal $$.
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