"JUST KEEP YOUR EYE ON THE ULTIMATE GOAL" BY MNT GOAT, 11 MARCH

 MNT GOAT

So let’s take a step back and remember how far Iraq has come already gone in the monetary reform process. In December of 2022 they completed war reparation payments to Kuwait. This opened up the door to move ahead aggressively with the monetary reform process to get to their ultimate goal, which is the reinstatement of their dinar back to FOREX and other currency exchanges. 

Just keep your eye on the ultimate goal.

Getting to the ultimate goal was not going to be easy for Iraq. It would require a lot of changes and thinking about how to run their monetary system. Since Dr Shabibi’s time we heard about the desire for electronic banking and Point of Sale (POS) electronic payments. Many did not understand fully why the CBI was pushing this effort even a decade ago, but now we know as article after article tells the story now why this is so integrated in the process of the monetary reform.

Here is a list of just some of the items of importance of electronic transactions that I can list off the top:

• Help to reduce corruption with the dollar
• Will allow the shrinkage of the monetary mass in circulation (Remember if the monetary mass decreases the value of the currency typically increases. The CBI has certain goals in this manner before the Project to Delete the Zeros);
• Help to stabilize the parallel dollar market within the “official CBI rate” 
• Puts more money in the banks that then allows capital for the banks to loan the funds for businesses, mortgages, investments, etc. But most importantly the banks now have alternative sources of income other than the spreads from the currency auctions. This will help curve banking corruption.