PROOF OF IRAQ MOVING FORWARD: " IRAQ WAS NEVER INTENDED TO STAY ON THESE LARGER 3 ZEROS NOTES FOREVER" BY MNT GOAT, 27 SEPT

PROOF OF IRAQ MOVING FORWARD 

Then another article goes on to say “The Prime Minister stressed that the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place”,

Does this mean the currency auctions as we know them today will end? Yes, I believe they are telling us they will end and the Central Bank will no longer support paying for imports in US dollars paid out of the CBI reserves. 

So the conversion of dinars to US dollars for this purpose WILL END. 

Instead, the Iraqi banks will work with “correspondent” banks in the countries they are doing trade with to pay for the goods and services.

 Looks to me that Iraqi merchants will take their Iraqi dinars and pay for the imports. The “corresponding” banks will then take the dinars and convert them to the currency used within the country of origin to pay for them.

EXAMPLE:

Let me give an example of the upcoming situation they just told us will begin in early 2025:script async="" crossorigin="anonymous" src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js?client=ca-pub-6009082504355829">

An Iraqi merchant buys a ship load of German beer. He then goes to an Iraqi bank and electronically pays for the beer in his dinars in his account.

 Dinars are then electronically sent to a German bank in Munich, Germany, as requested by the vender in Germany. The German bank converts the dinars to Euros and places them into the account of the vender (the brewery or wholesaler of the beer).

 Is this not exactly what we all hoped and wished to see for the last 2 decades? Yes, this normal international trade practices like all other countries and acceptance of the dinar globally.

 This is the final straw to ending the sanction like practices imposed upon Iraq due to the war.

 We all know that all provisions of Chapter VII were completed and Iraq FULLY released from the UN Chapter VII in December 2022.

 So it has taken this long to work out the process and finally get back to normal trade relations with the world. Part of this process is also to get back to normalizing their currency which also has to be set back to normal denomination of lower denominations on the face of the currency. 

Iraq was NEVER intended to stay on these larger 3 zero notes forever. Get it? It was part of the sanction process. Now the sanctions are over.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/