Friday, May 10, 2024

The dollar is reeling from a fatal blow and there are fears of a collapse of the dinar, 11 MAY

 The dollar is reeling from a fatal blow and there are fears of a collapse of the dinar

The fluctuation in dollar prices and the rise in gold prices has significantly affected the contraction of the commercial market in terms of imports and purchases of goods, amid confusion in opinions between the return of the rise in green and its decline to the official price set by the state of 1,320 dinars per dollar.

The price of the dollar in the parallel market is currently 1,460 dinars, whether higher or lower than this rate. 


The Central Bank of Iraq’s cancellation of the currency {auction} window at the end of 2024 and Washington’s sanctions on Iraqi banks have opened a door of doubts that will end up placing the dollar in the face of speculation, which will make it vulnerable to demand after the recovery of the Iraqi dinar with government orders that limited dealing in the dinar to restrict the movement of the dollar.


While officials find that the establishment of the electronic platform and the level of regularity of the flow of external remittances responsible for financing private sector trade and the escalation of financing rates have reached very high rates through the compliance platform of banks active in this regard, and the rise in gold prices is not considered a direct impact on the improvement of the exchange rate.
This was confirmed by the Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih {to Al-Furat News}, saying: “Active positive factors have affected the recovery of the Iraqi dinar in the secondary exchange market, foremost of which is the high level of regular flow of foreign remittances responsible for financing private sector trade and the escalation of Financing rates are very high through the compliance platform of active banks in this regard.”
He explained, “What this means is that the demand for foreign currency through official external transfer operations, which is responsible for 90% of the total desired demand for foreign currency, as most of it is now met at the official exchange rate of 1,320 dinars per one dollar, which gave the official market dominance over the market.” Parallel to the exchange.” 
Saleh stated, “As for the developments taking place in the gold commodity market or gold filigree, especially the sudden price developments therein, up and down, they are not considered an alternative directly affecting the improvement of the exchange rate because they are limited in impact and impact on the movements of the parallel exchange market, and that the main gold trade is financed as foreign trade through Transfers from the banking system and the official exchange market.


Contrary to the government opinion, the Parliamentary Finance Committee supported the theory of doubts and confirmed that the dollar would reach {200} thousand dinars with the cancellation of the currency auction.
Deputy Chairman of the Parliamentary Finance Committee, Ahmed Mazhar Al-Janabi, said {to Al-Furat News} that “the Central Bank’s decision to cancel the currency auction at the end of the year will open space for exploitation and a problem will occur. If the auction is canceled and ends, the exchange rate in the markets may double, and if the Central Bank goes towards this option, the dollar exchange will “It will reach 200 thousand dinars,” according to his opinion.


I am certain that “it will open space for speculators to exploit the matter. The current price is higher than the official price, despite the sale of approximately $250 million per day. So what if the auction stops?”
In light of this, economists expected that the demand for the dollar would continue to exceed supply, thus leading to a re-depreciation of the dinar, due to the central bank’s limited ability to provide coverage.


Economist Manar Al-Obaidi said in a statement, “The demand for the dollar depends primarily on commercial transactions and covering imports. The greater the demand for imports, the higher the demand for the dollar, and with the Central Bank’s limited ability to cover this demand as a result of the set limits, it is expected that it will continue.” Demand is greater than supply and thus leads to a decline in the price of the dinar against the dollar.”


He added, “An observer of the exports of the main countries exporting to Iraq notices an increase in the value of these countries’ exports, as the value of Turkish exports to Iraq increased by 30% in the first quarter, while Chinese exports to Iraq increased by 20% in the first quarter, as well as the exports of other countries such as the Emirates, India, Iran, and Brazil.” “. 
Al-Obaidi attributed the reasons for this increase to five basic factors:

 
1- The rise in global inflation, which led to an increase in the values ​​of various commodities in various exporting countries. 


2- Inflation of invoices, as some merchants agree with the processing party to inflate invoices to obtain transfers in higher amounts. In order to resell the converted dollar in those markets 


3- The change in the consumption pattern of the Iraqi citizen and the high population growth rates that increase the demand for various commodities, which increases demand


4- The increase in government agreement as a result of the increase in operational and investment expenses
5- The lack of a capable local industry To compete with the imported product as a result of high costs. 


Al-Obaidi added, “These four reasons are mostly due to the loss of tools to control the state’s financial policy (taxes + customs + control of expenditures). In order to control this significant rise in the value of imports, which leads to an increase in demand for the dollar, customs and tax policy must be changed.” “For many sectors, there is a need to possess the tools capable of implementing these policies in a more effective and productive manner.” 


Al-Obaidi added, “Continuing the import bill will lead to an increase in demand for the dollar and thus an increase in its price in the parallel market, which is what many of those who benefit from the low official price are looking for. The inability to control imports and the loss of control over financial policy tools will put the state in front of a single solution.” There is no second option, which is the use of monetary policy, which is something that many economic specialists do not favor, and they prefer to always focus on controlling financial policy.” 
As the Hajj season approached, the Central Bank stopped selling the dollar to travelers, and to find out its reasons, the former director of the Financial Supervision Bureau, financial expert, Salah Nouri, said {to Al-Furat News} that “the recent Financial Supervision Bureau report, which was covered by satellite channels, about violations in selling the dollar to travelers, is a major reason for reviewing the procedures and addressing them.” The defect in the transfer system, and stopping until the situation is corrected.”
In the same context, the economic expert, Safwan Qusay, revealed the leakage of travelers’ dollars to the parallel market.
Qusay said {to Al-Furat News}, “The current policy of the Central Bank of Iraq goes towards auditing the cash dollar, which was marred by many failures in the first periods, especially its leakage through travelers to the irregular market, and this issue needs a new and clear mechanism.”
He added, “It is assumed that travelers are dealt with through tourism and airline companies, and the travel ticket is not allowed to be canceled unless the traveler returns the amount he purchased from exchange outlets or banks.”


Qusay stressed that “this measure will restore confidence in the cash dollar and the possibility of facilitating the mission of real tourists and filling the gaps that accompanied the process of establishing the electronic platform for the cash sale of foreign currencies.”  


He stated that “the Central Bank will not hesitate to provide the dollar to those entitled to it, whether at the level of Hajj or other windows,” noting that “the Central Bank’s emphasis on procedures for granting citizens the cash dollar ensures that it reaches those who need it.”


Meanwhile, travelers expressed their surprise at the Central Bank’s decisions to prevent government banks from selling dollars to travelers.
Travelers said, via {Al-Furat News}: “We are surprised by the Central Bank’s decisions to prevent government banks from selling the dollar to travelers and monopolizing it only with financial transfer and exchange companies.” 
Travelers called on Parliament and members of the Parliamentary Finance Committee to “intervene and solve the problem and allow government banks to carry out the process of selling the dollar, especially in conjunction with the delegation of pilgrims to the Holy House of God, and they need to buy the dollar at the official price.”

https://alforatnews.iq/news/%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%8A%D8%AA%D8%B1%D9%86%D8%AD-%D8%A8%D8%B6%D8%B1%D8%A8%D8%A9-%D9%82%D8%A7%D8%B6%D9%8A%D8%A9-%D9%88%D9%85%D8%AE%D8%A7%D9%88%D9%81-%D9%85%D9%86-%D8%A7%D9%86%D9%87%D9%8A%D8%A7%D8%B1-%D9%84%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1

"RV UPDATE" BY MILITIAMAN, 11 MAY

 Militia Man 

We all know the project to delete the zeros has been on the table now for many years but it was taken off the table, back on the table...The delete the zeros is all about what Creating value.  

1310 to buy widgets is in the hundreds of trillions and their budget is in the hundreds of trillions.  They don't even have that much money printed.  They don't even have it on their M1 etc at this point in time.   They never have.  There's got to be an adjustment...

--

Article: "Iraqi Council of Ministers approves the 2024 budget schedules

 The next step would be to take those schedules and deliver them to the House of Representatives.  If we see that, that's going to be powerful because everybody's gonna be biting their nails because it could very well suggest something could happen prior to that happening.  It's a nail biter...

Article: "Specialist: Floating the dinar is economic suicide"  


Them bringing up exchange regimes obviously...they're going to do something because why talk about it if it's not going to change.  You don't.

 Non-oil revenues...Iraq has the largest sulfur deposit in the world.  They can tap into that.  It's going to be part of their non-oil revenues.  The amount of natural resources Iraq has is off the charts.  Anything that suggests they can't afford to do what they're going to do and go to a market economy I think is highly mistaken.

{Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq, 11 MAY

{Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq

Our agency publishes the text of the request of the Prime Minister, Muhammad Shiaa Al-Sudani, to the Secretary-General of the United Nations, Antonio Guterres, to permanently end the work of the United Nations mission in Iraq.

Al-Sudani indicated in his letter, a copy of which was obtained by {Al-Furat News}, that “the justifications for the presence of a political mission in Iraq are no longer available, especially after more than 20 years have passed since the democratic transition and overcoming great and diverse challenges.”

To view the text of Al-Sudani’s letter to Guterres, click here

https://alforatnews.iq/news/%D8%A7%D9%84%D9%81%D8%B1%D8%A7%D8%AA-%D9%86%D9%8A%D9%88%D8%B2-%D8%AA%D9%86%D8%B4%D8%B1-%D9%86%D8%B5-%D8%B7%D9%84%D8%A8-%D8%A7%D9%84%D8%B3%D9%88%D8%AF%D8%A7%D9%86%D9%8A-%D8%A7%D9%84%D9%89-%D8%BA%D9%88%D8%AA%D9%8A%D8%B1%D9%8A%D8%B4-%D8%A8%D8%A7%D9%86%D9%87%D8%A7%D8%A1-%D8%A7%D8%B9%D9%85%D8%A7%D9%84-%D9%8A%D9%88%D9%86%D8%A7%D9%85%D9%8A-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82

"RV UPDATE" BY CLARE, 11 MAY

 Clare 

 Article: "Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and what are its risks?"  Quote: "From time to time, calls for floating the Iraqi dinar float on the surface of the Iraqi

financial market...these calls meet every time they return to the forefront, with supporters who see it as saving the Iraqi economy, and opponents who see it as the most dangerous stage that Iraq will pass through because of its...risks to his economy...

 "...There is a possibility for the central bank to follow the same mechanisms as the American Federal Bank. Strengthening the dollar in the market is determined by the American Federal Reserve, and it depends on the market mechanisms of supply and demand...This policy may be a successful alternative in Iraq by following a managed float policy"   

THE BIG CALL HIGHLIGHTS, 10 MAY

 Thurs. 9 May 2024 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866pin123456#, 667-770-1865

  • By yesterday afternoon Wed. 8 May 2024 all banks had brought all their employees up to speed on the transaction protocols for the GCR.
  • Banks will not give out the same higher rates for your exchange as you will get at a Redemption Center.
  • Canadian banks said in a conference call that they were in position to begin exchange currencies and redeem Zim on Friday 10 May or Sat. 11 May.
  • Special Forces and Banks in the US say that everything kicks off this weekend.
  • The US Treasury wrote in an email that Tier4b will begin exchanges either Fri. 10 May or Sat. 11 May.
SOURCE: DINARCHRONICLES

"RV SOON?" BY JACK STRAW VIA TWITTER, 10 MAY

 JACK STRAW

RV SOON? Al-Sudani expressed his enthusiasm for the Arab Banks Conference held in Baghdad, where Iraq's membership in the World Trade Organization was officially affirmed. The World Trade Meeting will continue until Thursday the 9th, signaling potential changes in the Iraqi Dinar Rate, although the exact adjustment remains undisclosed for now.

https://twitter.com/JackStr42679640/status/1788132289588998436?t=pCe8WVD2HQtnUFX1ot77zQ&s=35


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Setting the opening dates of 5 projects within the bottleneck package, 10 may

  Setting the opening dates of 5 projects within the bottleneck package

Economy News - Baghdad

The Ministry of Construction, Housing and Municipalities announced on Friday the opening dates of 5 projects within the package of breaking traffic jams.

The ministry's spokesman, Istabraq Sabah, said in a statement seen by "Economy News", that, "The ministry is proceeding with projects to break traffic jams and implement the commitment listed for the projects of the first package within the government program," noting that "the projects of the first package consist of 16 projects and on more than one area on the sides of Karkh and Rusafa."

Sabah explained that "the Fine Arts Bridge and Cordoba Intersection have been opened, and two other projects are in the process of opening, the first project is the Shaljia Bridge and it is hoped that it will be opened this month, as well as the project to link the Mohandessin neighborhood inside, which includes two bridges, the first on the side of the engineers and the second on the inside side and a small bridge linking them, as work is underway on it and will be opened in the coming period."

He added that "next June, will witness the opening of the bridge linking from a beautiful area to the street neighborhood jihad - Bab Al-Muadham, and in July will open bridges Aden and Sanaa," noting that "the rest of the projects will be opened successively."

"A number of water and sanitation projects will be inaugurated this year, in addition to finalising a number of residential complexes that fall under low-cost housing in the southern and central provinces," he said.

"WHERE ARE WE NOW?" BY BRUCE ( ENGLISH & SPANISH), 10 MAY

 BRUCE

 May 9, 2024

ONLY INTELLIGENCE

*WHERE ARE WE NOW???*

Gem Finch, [10/05/2024 12:12 PM]

 Bruce can tell us who we hear from: the Bank or RC and sometimes military sources. Today the banks are up to date to the last employee, now twenty years ago no bank sold dinars – and what the banks told us years ago said: we will never sell dinars and yet they did and they also said we never would. Anything goes ALL LIES and even WF - with a recorded message - now I understand why? But it was disconcerting for many: now we know what the deal is,

 and now ALL banks in the US and who knows everywhere, informed all employees about this. Deny, Deny Deny, so two days training ended yesterday at 2 p.m. and now everyone is up to speeding up the currencies, their values ​​and so on, so you know that when we get the toll-free numbers you will go to an RC, and some will just go to the banks, but WE at RC will get those special rates and they want the ZIM urgently,

and they will ask them and we will say YES, WE DO IT. Obviously Zim has preference, but will they be put first? Bruce doesn't know, but don't be surprised. We have been in contact with three or four and these are one or two banks in Canada with our Treasury and getting information and they tell us that we are in a position to exchange currencies on Friday or Saturday. That means that tomorrow is Friday the 10th and Saturday the 11th of May, they told us this today and they are prepared to start exchanges and

THIS IS ALL – WOW – so Bruce was impressed when he heard this and the banks in the US say this weekend and special. Forces say this WEEKEND – So Bruce says he doesn't need to say more – now a source said Monday/Tuesday – but this information today came at a BIG TIME – and said trades in RC this weekend –

If that's happening, we need it The 800 number could happen tomorrow and we could wake up to that or even when the markets close - any time we get it and maybe we can get started and get an appointment on Friday or Saturday - but if we don't get it tomorrow – Saturday is still Great and WE'RE SUPPOSED TO START TRADES ON FRIDAY OR SATURDAY AND THIS CAME OUT OF THE US TREASURY TODAY, AND WE HAD ALL THOSE GREEN LIGHTS, REMEMBER. So Bruce is excited and ready to go and as always we have to say that in the past the information has not gone well for us, but we have never been where we are now. Now Bruce has moved on to talking about Sue and the Golden Package.

 So I'm thinking the above will probably be the best and most wonderful Intel Bruce has for us today. Now you've thanked the entire team, but you could do it again with Sue, Bob, GCK, Pastor Scott, Jeannie, and Larry. And to all the Faithful listeners around the world. Additionally, and as always, on a day as significant as this, IT REALLY COULD BE OUR LAST BIG REGULAR CALL, so please join Bruce in praying for this calling and keep those beautiful, powerful, heartfelt prayers said until we can clearly and fully. See those notifications in our inboxes.

 And also as always my deepest and most sincere Love to ALL of you - Gema.

 As Bruce just said, we're way beyond Ready. So please pray and believe, this is truly the glorious end of this journey towards exchanges for all humanity. And yes, what a simple, beautiful, glorious Mother's Day THIS WILL BE. With love to ALL THE MOMS.

TRANSLATION SPANISH

BRUCE

9/mayo/2024

SOLO INTELIGENCIA
*¿¿¿DONDE ESTAMOS AHORA???*
PinzΓ³n de gema, [05/10/2024 12:12 p.m.]

Bruce puede decirnos de quiΓ©n tenemos noticias: del Banco o de RC y, a veces, de fuentes militares. Hoy los bancos estΓ‘n al dΓ­a hasta el ΓΊltimo empleado, ahora hace veinte aΓ±os ningΓΊn banco vendΓ­a dinares – y lo que los bancos nos dijeron hace aΓ±os decΓ­a: nunca venderemos dinares y, sin embargo, lo hicieron y tambiΓ©n dijeron que nunca lo harΓ­amos. vale cualquier cosa TODAS MENTIRAS e incluso WF - con un mensaje grabado - ahora entiendo por quΓ©? Pero fue desconcertante para muchos: ahora sabemos cuΓ‘l es el trato,

y ahora TODOS los bancos de EE. UU. y quiΓ©n sabe en todas partes, informaron a todos los empleados sobre esto. Negar, Negar Negar, asΓ­ que dos dΓ­as terminaron la capacitaciΓ³n ayer a las 2 p.m. y ahora todos estΓ‘n A la altura de acelerar las monedas, sus valores y demΓ‘s, para que sepas que cuando obtengamos los nΓΊmeros gratuitos irΓ‘s a un RC, y algunos simplemente irΓ‘n a los bancos, pero NOSOTROS en RC obtendremos esas tarifas especiales y ellos quieren el ZIM con urgencia, 

y les preguntarΓ‘n y les diremos SÍ, LO HACEMOS. Obviamente Zim tiene preferencia, pero ¿serΓ‘n puestos primero? Bruce no lo sabe, pero no se sorprenda. Hemos estado en contacto con tres o cuatro y estos son uno o dos bancos en CanadΓ‘ con nuestro Tesoro y obteniendo informaciΓ³n y nos dicen que estamos en condiciones de cambiar divisas el viernes o sΓ‘bado. Eso significa que maΓ±ana es viernes 10 y sΓ‘bado 11 de mayo, esto nos lo dijeron hoy y estΓ‘n preparados para iniciar intercambios y 

ESTO ES TODOS – WOW – asΓ­ que Bruce quedΓ³ impresionado cuando escuchΓ³ esto y los bancos en los EE. UU. dicen este fin de semana y especial. Las fuerzas dicen que este FIN DE SEMANA – Entonces Bruce dice que no necesita decir mΓ‘s – ahora una fuente dijo lunes/martes – pero esta informaciΓ³n de hoy llegΓ³ en un GRAN MOMENTO – y dijo intercambios en RC este fin de semana – 

si eso estΓ‘ sucediendo, lo necesitamos El nΓΊmero 800 podrΓ­a suceder maΓ±ana y podrΓ­amos despertarnos con eso o incluso cuando cierren los mercados – en cualquier momento que lo recibamos y tal vez podamos comenzar y conseguir una cita el viernes o sΓ‘bado – pero si no lo recibimos maΓ±ana – el sΓ‘bado todavΓ­a es Genial y se supone que COMENZAMOS LOS INTERCAMBIOS EL VIERNES O SÁBADO Y ESTO SALIΓ“ DEL TESORO DE EE. UU. HOY, Y TENÍAMOS TODAS ESAS LUCES VERDES, RECUERDE. AsΓ­ que Bruce estΓ‘ emocionado y listo para comenzar y, como siempre, tenemos que decir que en el pasado la informaciΓ³n no nos ha ido bien, pero nunca hemos estado donde estamos ahora. Ahora Bruce ha pasado a hablar de Sue y el Paquete Dorado.
Así que estoy pensando que lo anterior probablemente serÑ el mejor y mÑs maravilloso Intel que Bruce tiene para nosotros hoy. Ahora ya le ha dado las gracias a todo el equipo, pero podría hacerlo de nuevo con Sue, Bob, GCK, el pastor Scott, Jeannie y Larry. Y a todos los Fieles oyentes de todo el mundo. AdemÑs, y como siempre, en un día tan significativo como este, REALMENTE PODRÍA SER NUESTRO ÚLTIMO GRAN LLAMADO REGULAR, así que únase a Bruce para orar por este llamado y mantenga esas hermosas, poderosas y sinceras oraciones dichas hasta que podamos clara y plenamente. Vea esas notificaciones en nuestras bandejas de entrada.
Y tambiΓ©n como siempre mi mΓ‘s profundo y sincero Amor para TODOS ustedes - Gema.
Como acaba de decir Bruce, estamos mucho mÑs allÑ de Ready. Así que, por favor, oren y crean, este es realmente el final glorioso de este viaje hacia los intercambios para toda la humanidad. Y sí, qué sencillo, hermoso y glorioso Día de la Madre SERÁ ESTE. Con cariño a TODAS LAS MAMÁS.

A call for the Sudanese to remove the American forces from Iraq, 10 MAY

 A call for the Sudanese to remove the American forces from Iraq

Information / Baghdad...

The head of the organizing body of the popular movement for the Belt and Road, Hussein al-Karawi, on Friday, called on Prime Minister Mohammed Shia al-Sudani to speed up the removal of US forces from Iraq.

Al-Karawi told Al-Maalouma that "the Iraqi people and the resistance will not remain silent in the face of US violations of Iraqi autonomy and the abuses it commits against Iraq."

Al-Karawi predicted that "the US forces will be subjected to blows from the resistance, if they do not comply with the fait accompli and leave Iraq, pointing out that America continues its encroachments on Iraq and its autonomy." 

"IRAQ WOULD BE THE SAVIOUR OF THE GLOBAL FINANCIAL SYSTEM" BY ROBERTO VIA TWITTER, 10 MAY

 ROBERTO

Iraqi Dinar Holders πŸ‘‡πŸ‘‡πŸ‘‡

Remember hearing how the UN Council stated in Davos now a few months back how Iraq would be the savior of the global financial system? Why did they say that? What were they telling us? That maybe they are saving the Iraqi Dinar RV for just the right time for when the global system resets. πŸ€™ It's now more clear than ever the budget, schedules, and timelines are all part of the narrative. Nothing is being left to chance. Holding the Iraqi Dinar, Cryptocurrency, Gold and Silver will be your personal financial savior. ✅
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BuyTheCryptoDip
@BuyTheCryptoDip
Just now on Bloomberg, discussions on interest rates that we know cannot change because the Fed doesn’t exist…. “We are moving towards a global resetting narrative.” A global reset? Ya don’t say. They are saying a lot of quiet parts out loud now. πŸ‘€
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