Iraq is going to use the dinar as of January 1st for commercial use, not the dollar. If they get rid of the dollar or they cease the auctions or they apply the delete the zeros project you can see where all of a sudden the parallel market/illegal market is going to go bye-bye.
They're working currently underway to end the so-called parallel markets. Article quote "The dollar will not be exchanged except at the rate approved by the Central Bank of Iraq.' The office exchange rate, give 10 to 20 points one side or the other of that 1310. Quote "The parallel markets will gradually decline and cease over the next few days.'I'm fairly certain if they apply a Real Effective Exchange rate, gradually is going to be a thing of the past. But we'll see how it works out.
The oil for the [??] Port hasn't left yet, salaries payment hasn't been paid yet. One thing leads to another, that leads to what? A Real Effective Exchange Rate. I think that's where we are are. I think that's pretty self-evident...
Shafaq News / The exchange rates of the US dollar against the Iraqi dinar decreased in Baghdad and Erbil, the capital of the Kurdistan Region (KRI), on Saturday, upon the closure of the stock exchange.
According to our correspondent, the dollar prices decreased with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, reaching 151,250 IQD per $100. This is a decrease from the morning rate of 151,400 IQD per $100.
Moreover, the selling prices at currency exchange shops in local markets in Baghdad also decreased, with the selling price at 152,250 IQD per $100, while the buying price was at 150,250 IQD per $100.
In Erbil, the dollar also saw a decrease, with the selling price at 151,300 IQD per $100, and the buying price at 151,000 IQD per $100.
FIREFLY:Saying 9 Iraqi officials arrested for extreme wealth from corruption. FRANK: Sudani is going all out...this is amazing...You're busted!
FIREFLY: Sudani is on TV saying Iraq is on the verge of a transformation process.
FRANK: Every day Sudani is joining in the direction of your new exchange rate and your new national currency. He tells you there's a new direction occurring, yeah, from a program rate to an international rate.
FIREFLY: Television is showing Parliament Finance committee saying weare close to closing the parallel market and solving the dollar exchange rate. FRANK: How many ways can they tell them?
FIREFLY: Channel One TV is saying we just overtook and stopped the most dangerous and most corrupt organization that has ever stolen dinars. They stole over 1 trillion dinar...individuals arrested and groups have been stopped.
FRANK: The money was recovered...This is the phase of the monetary reform right now, to recover this type of money, to be in position to float internationally...
FIREFLY: TV showing the meeting in Davos with CBI governor, IMF, World Bank and Sudani have shortened the time on financial and banking reform. They're saying it's a shorter time expected now to complete the reforms .
FRANK: He is telling you they are very very close to giving you the new exchange rate with the lower denoms ...What happened at Davos put the monetary reform on light speed.
FIREFLY: On the economic news an economic specialist is saying Iraq needs to use a basket of currencies to add value to the dinar against the dollar.
FRANK: Sudani sends out another expert in the financial field that you know and trust...Exactly what we've been telling you. This is the next phase IOO... This is the most powerful part of the monetary reform education to you as an Iraqi citizen...The basket of currencies is required in order to add value to the Iraqi dinar.
They will never talk to you about something that needs to be done. They will talk to you about it after it is done. That is what is called the float and that is what is going to take you back to your RI. Your currency rate has to be reinstated back to $3.22 but that's the international side of Iraq...
The goal of the CBI is to reach the Real Effective Exchange Rate. In doing so it adds value to you even thought it's 1 to 1 in country...It will stay at 1 to 1 to the American dollar in Iraq but you will finally have your purchasing power that you have long waited for.
A number of obstacles hinder the work of the Central Bank… and the finger of blame is directed at the ministries, 28 JAN
Private|.. The economic expert, Safwan Qusay, confirmed on Saturday that the Central Bank of Iraq will not be able to control the exchange rate alone, without coordination and integration with the country’s financial policy, indicating that the federal ministries do not work with a single-individual mentality, and according to what the CentralBank desires.
Qusay told “Jarida”, “Despite the Central Bank’s measures to regulate the relationship with international financial transfer operations and the relationship of Iraqi banks with the international environment through international correspondents and improving the quality of banking service performance, the Central Bank alone will not be able to control the exchange rate, without coordination.” And integration with financial policy.”
He added, “The Ministry of Finance and the rest of the federal ministries do not work with a single-individual mentality, and according to what the Central Bank desires, such as controlling border crossings, imposing a fair tax policy, and the possibility of moving on to investigate economic events and prove them accounting according to an accounting system that can faithfully represent those events.” “.
He continued, “So far, working within the budget of items and within a government accounting system is still working within the monetary basis, and does not distinguish between revenues and liabilities, or expenses and assets, and the basic concepts of financial and accounting work, and the Central Bank has internal debts on the Ministry of Finance, But until now, the Ministry of Finance has not cleared these debts in a quick way to enhance the value of the Iraqi dinar.”
He continued, “Tracking the process of movement of goods from the origin to the consumer is still slow, and is outside the control of the Central Bank, in addition to the existence of a weak trade system, and that many merchants do not have bank accounts and tools for long-term commercial contracts, in addition to the insistence on cooperation.” With sanctioned countries and companies, even though the equipment imported from them has not been established. A specific mechanism has not been established for international financial transfer of these to countries or companies.”
He added, “The Iraqi citizen’s insistence on not trusting the banking system, with the Central Bank not having means to expand the circle of financial inclusion by stimulating Iraqi dinar holders, through interest placed on current accounts, or discounts accompanying credit card transactions, are all tools that are still needed.” To the extensive efforts of the Central Bank and Iraqi banks, especially the public ones, because they own 90 percent of the bank balance, in addition to the private banks that were surprised by the suspension of the currency selling window and the transformation of the electronic platform, and the lack of a sharing system between these banks with the financial information required by the global Soviet system.
He explained, “The US Federal Reserve is determined to clean the Iraqi economy of corrupt people and activate the quality of work of the Central Bank and Iraqi banks, because international investors have conditions that are consistent with the balance of the Iraqi economy, and prevent Iraqi banks from changing the type of money or laundering money, and there are many Iraqi banks that have begun investing.” in technology and information sharing to gain global acceptance.”
[via PDK] We have been told years ago that the most likely time- or easiest time for them to execute this was Saturday night or Sunday night between 11 pm and 3 AM est…. It does not have to be then…but I was told that was the easiest time for them technically.
Question: Has anyone verified the rate of $2.40 from the bank story from last night? MarkZ: Not yet…but a number of bankers are telling me that is exactly the rate they are seeing on screens right now. From $2.38 to $2.40
V ery quiet out of Iraq...and quiet on the banking side.
Question: Is this weekend a possibility? MarkZ: It is definitely a possibility.
Question: Do you think it is still possible that things go this month? MarkZ: I think it’s possible. I am hopeful we will at least get announcements this month …even if we have not yet made it into the banks.
[via WiserNow] ...we do have the impression that we're very close to this going. And it appears that two of our sources agreed on the timing...It appears more like Saturday through Tuesday...the 27th through the 30th with emphasis on Saturday, the 27th..The timing of this is very close - We do believe that Saturday holds the best chance for us to be notified between Saturday and Tuesday. So let's see ...what happens...we're very close.
we got word from several of our sources that came in last night and also today, and...I think we've, we've gone past the point of no return on this so that even a few people that were pretty tight lipped have been allowed to open up to my main source.They've been allowed to get the information from the banks - and redemption centers – so that is really good to have that information fed down to me...one of our best sources said at midnight last night...we've been in this is Monday night he said within 24 to 36 hours...it could be Thursday... We will all be smiling from ear to ear... it should be a really wonderful week...
According to the local bank staff members were going in today, with more going in tomorrow with a purpose to make appointments to exchange foreign currency and Zim Bonds. The numbers for Tier4a,b (Us, the Internet Group) to make appointments could come out tomorrow Wed. 24 Jan.
Prime Minister Mohammed Shia Al-Sudani sponsored today, Saturday, the launch of the first round of bilateral dialogue between Iraq and the United States, to end the mission of the international coalition in Iraq.
The Sudanese media office said in a statement received by {Euphrates News} that “Prime Minister Mohammed Shia Al-Sudani sponsored the launch of the first round of bilateral dialogue between Iraq and the United States of America to end the mission of the international coalition in Iraq.”
Baghdad and Washington agreed on Thursday to launch working groups within the framework of the “Supreme Military Committee”, to study the future of the coalition in light of the “danger” posed by ISIS, and the capabilities of the Iraqi security forces.
The Foreign Ministry said the working groups will “formulate a specific and clear timetable, outlining the duration of the presence of the international coalition’s advisers in Iraq, and directing the deliberate phase-down of its advisers on Iraqi soil.”
In Washington, Deputy Defense Department spokeswoman Sabrina Singh said the size of U.S. military power in Iraq “will certainly be part of the discussions as things progress.”
A Pentagon official said in a press statement that a military committee “will conduct an assessment to reshape the relationship with Baghdad,” noting that “there is no imminent withdrawal of US forces from Iraq.”
Defense Minister Thabet al-Abbasi said on Thursday that his country’s forces “are fully ready to withdraw the coalition forces and hold the security file in the country in full, especially after the experience they have gained in the past years and their dealing with security threats and their elimination.”
He added in a statement, “The timings of the withdrawal of the coalition forces will be determined, and the building of joint cooperation relations between Iraq, the United States and the coalition countries in various political, economic, cultural, security and military fields, in line with the vision of the Iraqi government.”
Prime Minister Mohammed Shia Al-Sudani said recently that “the end of the mission of the international coalition is a necessity for Iraq’s security and stability, and it is also a necessity to maintain constructive bilateral relations between Iraq and the coalition countries.”
Al-Sudani considered that “there is no longer any justification for the existence of the international coalition,” saying: “Today the security situation, with the testimony of all specialists in Iraq, and friends, is that ISIS does not represent a threat to the Iraqi state.”
There are about 2,500 American troops in Iraq, while about 900 American soldiers are deployed in Syria, within the framework of the international coalition launched by Washington in 2014.
The World Trade Organization has been working on reforms for some time. In the past, it has been believed that this organization has favored the larger countries. Attempts have been made to reconcile some of the mechanisms to create a "More Level Playing Field" among the smaller countries. In 2024, a renewed mechanism is at play to settle some disputes among countries feeling the need to call into question certain trades that have been favored towards larger countries over their own. With the upcoming 13th Ministerial Conference (MC13) in February, a meeting with several representatives from around the world to talk and implement a new mechanism put into place called the "appellate mechanism."
The appellate mechanism is governed by seven people who will make decisions on disputes that are called into question. Last year, I shared with you how foreign exchange rates were being reformed within the WTO. Now, we are witnessing many trade products being brought to the table for adjustments throughout this year.
These adjustments to trading prices and foreign currency exchange rates are coming at a time whereby the new rules and regulations inside the banking system that are coming into play on March the 11th, 2024 are timely. JD SupraWTO
Reliable sources revealed the content of a letter handed over by US authorities to the Iraqi government regarding the arrangements for the withdrawal of the international coalition forces. The letter included “the method of withdrawal and its timetable,” along with “the obligations on the Iraqi side,” stressing that this withdrawal, if it happens, will not be without a price and “will not stop the deterrent attacks of armed groups loyal to Iran.” The Iraqi Foreign Ministry said on Wednesday night that an “important letter” had been received from Washington, and that Prime Minister Mohammed Shia’a Al-Sudani would study it carefully.
The sources explained to Asharq Al-Awsat that “Washington does not mind the transition to a new stage of bilateral relations, but the withdrawal of forces (by any way) will not stop the deterrent attacks of the activity of armed groups loyal to Iran, as long as they contribute to destabilizing the security and stability of the region.” The Sudanese shared “important aspects” in the American message with leaders in the “Coordination Framework” coalition, including “confirmation that US strikes will not stop against the factions,” according to the sources. “The upcoming technical negotiations to arrange the withdrawal will not be easy and quick, and will take the time necessary to ensure that all files associated with this presence are settled,” the letter hinted.
According to the sources, “Washington encouraged Baghdad during the letter to understand and understand the consequences of the withdrawal, including the financial and economic obligations that bind the two countries.” Iraq has been depositing its oil revenues in a bank account controlled by the US Treasury Department since 2003, pursuant to UN Security Council Resolution 1483, which was intended to “help Iraq manage its resources in a transparent manner.” Since the American message arrived at the government offices in Baghdad, political forces have been active in intensive dialogues, trying to understand the appropriate way to deal with “this sudden step.” Three informed sources told Al-Sharq Al-Awsat that “an influential Shiite party within the (coordination framework) is now trying to convince the factions involved in the field escalation against the Americans to retreat a little.” The Islamic Resistance in Iraq confirmed yesterday, Friday, that the request of the United States of America to the Iraqi government to hold talks to arrange the status of its forces, is “except an attempt to mix the cards, turn the table on the resistance, and gain time, to carry out more crimes and demonic schemes to harm our people and nation.
— Prime Minister Al-Sudani's just made a very important and innovative announcement on IRAQ NATIONAL TELEVISION.
—It marks an important turning point for the country.
- According to him. IRAQ is on the verge of a transformative journey involving the adoption of a new exchange rate and the introduction of a new national currency that has captured the attention of the nation and the international community.
— This transformative journey is destined to reshape an economic landscape, they will go through international currency exchange.
— IRAQ is on the brink of its international currency exchange and thus leaving aside the supposed programmed exchange, to give more security and stability both to its people and to investment and investors in IRAQ.
— This is very good news and we hope for the beginning of the journey of
the DINAR currency of IRAQ INTERNATIONALLY very, very soon.
Greetings
Hernán Robert Hbravo
TRANSLATION IN SPANISH:
Viernes 26 Enero 2024
Hernán : Dice
Por fin una buena noticia de hoy desde IRAK.
— El primer ministro Al-Sudani’s hizo recién un anuncio muy importante y innovador en la TELEVISIÓN NACIONAL DE IRAK.
— Señala un importante punto de inflexión para el país.
— Según él. IRAK se encuentra al borde de un viaje transformador que implica la adopción de un nuevo tipo de cambio y la introducción de una nueva moneda nacional que ha captado la atención de la nación y la comunidad internacional.
— Este viaje transformador está destinado a remodelar un paisaje económico, irán por el intercambio de moneda internacional.
— IRAK está al borde de su intercambio de moneda en forma internacional y así dejando de lado el supuesto intercambio programado, para dar más seguridad y estabilidad tanto a su pueblo como a la inversión y inversionistas en IRAK.
— Esta es una muy buena noticia y esperamos un inicio de el viaje de
la moneda DINAR de IRAK INTERNACIONALMENTE muy, pero muy pronto.
Mawazine News – Baghdad The spokesman for the UN Secretary-General, Stephane Dujarric, confirmed that the United Nations will not participate in negotiations between Washington and Baghdad on the fate of US and international coalition forces in Iraq. “It is good for them to negotiate on the subject, but it will not affect the mission of our envoy in Iraq,” the spokesman for the UN Secretary-General said.
He noted that “the United Nations has not shown any support or opposition to the remaining forces in Iraq.
Tensions in Iraq have increased since the Gaza war, and U.S. and coalition forces have been targeted with at least 60 drone and missile attacks by armed groups. On Thursday, the Ministry of Foreign Affairs announced the success of the negotiations between the Iraqi and American governments, which began in August 2023, in order to formulate a timetable that determines the duration of the presence of the advisers of the international coalition in Iraq, the end of the military mission of the coalition against ISIS, and the transition to comprehensive bilateral relations with the coalition countries, political, economic, cultural, security and military consistent with the vision of the Iraqi government.
The United Nations Assistance Mission for Iraq (UNAMI) has been in Iraq since 2003 to provide humanitarian, development and reconciliation assistance.
The World Trade Organization has been working on reforms for some time. In the past, it has been believed that this organization has favored the larger countries. Attempts have been made to reconcile some of the mechanisms to create a "More Level Playing Field" among the smaller countries.
In 2024, a renewed mechanism is at play to settle some disputes among countries feeling the need to call into question certain trades that have been favored towards larger countries over their own.
With the upcoming 13th Ministerial Conference (MC13) in February, a meeting with several representatives from around the world to talk and implement a new mechanism put into place called the "appellate mechanism."
The appellate mechanism is governed by seven people who will make decisions on disputes that are called into question. Last year, I shared with you how foreign exchange rates were being reformed within the WTO. Now, we are witnessing many trade products being brought to the table for adjustments throughout this year.
These adjustments to trading prices and foreign currency exchange rates are coming at a time whereby the new rules and regulations inside the banking system that are coming into play on March the 11th, 2024 are timely.
The United States is experiencing a state of political and partisan division that it has not witnessed for decades, amid fears of the repercussions of the unrest on the countries of the world in light of America’s importance in the balance of the global economy. As there are fears of a civil war, some experts consider the demands of some states, such as Texas, which wants to control its federal borders against the backdrop of the influx of immigrants, to be demands put forward by southern states in the year 1860, which led to the outbreak of a civil war in America.
Other experts explain that the current debate between American political elites is somewhat similar to the debate that the United States experienced in the second half of the nineteenth century between the North and the South. As poignant evidence of these concerns, experts pointed out that the state of Texas’s refusal to tolerate the flow of illegal immigrants across the border, with the approval of US President Joe Biden, received support from 25 governors. Experts confirm that there is no reasonable scenario that could lead to the peaceful independence of Texas from the United States, even if this was the will of its residents, as this could lead to a dangerous change in the geography of North America, as before that California announced its intention to become independent as well. In the same context, the recent announcement by the state of Colorado that it will not allow Donald Trump to run in the upcoming presidential elections has reinforced the idea of discord in American society.
As the shadow of the political division warned, experts warned of the repercussions of the turmoil in the United States on the global economy and other countries, especially countries that have large investments in America. Analysts say that the US public debt has reached an astronomical figure of 34.1 trillion dollars, and is growing at a rate of approximately 3 trillion dollars annually, at a pace that exceeds US government estimates, which increases the burden on the US budget, as interest could reach 1.3 trillion dollars annually. Experts mentioned a quote by one of the founding fathers of the United States that repaying debts is a matter of generosity, not a right.
As an indication of the possible exit of capital from the US economy, experts said that 30-year US bond yields reached their highest level this year, which means that demand for US bonds is declining. In this regard, expert Alexander Nazarov said, 30-year US bond yields have reached their highest level this year, meaning demand for these bonds is declining, and uncontrolled capital flight from US debt may begin in the near future. If this happens, there is only one way to avoid the collapse of the US economy, which is to print tens of trillions of new dollars within a few weeks, after which hyperinflation in the United States will begin. The expert, Nazarov, recommended reconsidering investment in American bonds, as the economic repercussions of any new crisis in the United States would be more severe than previous ones. Nazarov said in a post on his channel on the Telegram application, confronting his speech to leading Arab economies: “To Saudi Arabia, the Emirates, Kuwait, Iraq and other countries that keep their foreign exchange reserves in American bonds, I can only say one word, run away!”
Washington’s sanctions policy against countries, led by Russia and China, forced the US government to recalculate its calculations about investing in Treasury bonds. Indeed, Russia withdrew its funds almost completely from these bonds, and Beijing reduced its investments in American debt securities by tens of billions of dollars, and fell to second place on the list of major holders of American bonds. According to US Treasury Department data for November 2023, Japan tops the list, as it invested $1.12 trillion in these securities, and the following are the largest holders of US bonds (November 2023 data). Experts wonder how safe it is to invest money in the American economy in light of the political and economic reality that the United States is currently experiencing. They pointed out that the Gulf countries lost billions of dollars in the 2007-2008 financial crisis as a result of their investment in Western financial markets. Top Arab countries investing in US bonds (data for November 2023).
The gold-backed US Dollar was introduced from Reno on Thurs. 25 Jan. at4:47 am.
All 86 Global Currency Reset platforms were loaded with monies and launched on Fri. 26 Jan.
Bond Holders would get their email on Fri. 26 Jan.
Anywhere fromSat. 27 Jan. through Tues. 30 Jan. Tier 4b (us, the Internet Group) would be receiving emails that say how to set currency exchange and Zim Bond redemption appointments.
There were 400,000 of those emails that would go out in groups during a 18 hour period.
Payouts would be given first to governments, then businesses, then individuals.
The payment runs of first Zimbabwe Blue and Derivatives would begin on Mon. 29 Jan. at 9am EST.
All banks will begin to pay at the same time.
Tier4b appointments will run until Thurs. 15 Feb. 2024.
The US-Iraqi Supreme Military Committee is conducting an assessment of 3 factors
Shafaq News/ The US-Iraqi Supreme Military Committee announced today, Saturday, the launch of the work of several committees to work on assessing Iraqi military capabilities.
The committee stated in a statement received by Shafaq News Agency: “Today represents the first step in establishing this Supreme Military Council to enable leaders in the coalition forces and in the Iraqi Armed Forces to contribute to a series of working groups and mutual consent to conduct assessments regarding the three threat factors posed by ISIS, operational and environmental requirements, as well as the capabilities of the Iraqi Armed Forces.”
The statement added: “The Supreme Military Committee, during the dialogue period, is working to determine the necessary conditions for the joint task forces of Operation Inherent Resolve during the necessary conditions to transfer the mission from Iraq.”
The statement indicated that, “In August of last year, in Washington, D.C., the US Department of State, the US Department of Defense, the US Department of State, and the Iraqi Ministry of Defense participated in the inaugural joint security cooperation dialogue between America and Iraq, affirming their common commitment to security cooperation and their common interest for the stability of the region during the dialogue.” Joint Security Cooperation The parties agreed to hold military-to-military talks, under the name of the Supreme Military Committee (HMC), to evaluate the progress made in the coalition’s primary mission of defeating ISIS, as well as to discuss future adjustments to the coalition’s mission and presence in Iraq.
Fri. 26 Jan. TNT Tony:TNT Tony was told RV in a couple days despite it being a “couple days” for months now.
US Treasury says it’s handed off to IMF.
Rate has been given to the banks.
IMF says it was given to the UN.
Nobody say that it stopped. Supposedly RV was put off because of things going on with Iran and US. We know Iran wants chaos in Iraq to delay the RV as long as possible. Iraq is publicly saying they want US to leave and Iran says they’ll keep bombing until US leaves. Nobody cares about the bombs because it’s showing that they are doing something or being justified in some way. 150 missiles are being fired and only 10 or so actually make contact. It’s more show than it is go.
Behind the closed doors Kurdistan is not voting on the US leaving. Supposedly Iran really doesn’t want US to leave. Iraq is Iran’s life line for dollars, and if the US leaves, sanctions go up and that hurts both countries.
Smuggling of dollars has been cut down but is continuing. It’s getting cleaned up little by little. Supposedly the biggest smuggler worth a trillion dinar was captured yesterday. So what are we waiting for?
US has been talking with Iraq leaving country since August quietly.
Banks in Iran are just smuggling operations.
So why is the UN waiting. They are waiting for more citizens in Iraq to open accounts and get cards. WE don’t know the magic number for them to go.
This morning treasury is saying watch accounts. Banks were given rates in November. So we are just waiting.
Everything happening this weekend is what they (UST, IMF) are now saying. They could wait until the end of the month and retroactive back to the 1st.
Supposedly someone did an exchange for ~$2-3 for dinar at a bank.
Bank managers are even scheduled this week because of the Mid East turmoil. So the banks will be surprised if it goes.
