Sunday, August 4, 2024
Legal violations” in the work of the Central Bank prompt demands to replace its governor, Ali Al-Alaq, 5 AUGUST
Today, Saturday, the economic expert, Abbas Al-Bassel, stressed the necessity of replacing the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, in light of the violations committed by the Central Bank against the constitution and the law.
Al-Basel told Al-Jarida, “When Al-Alaq was brought in, the work of the corrupt whales among the politicians became active, as they invested in dollars and the private sector was terminated, while the Central Bank imposed unnatural complications by launching a campaign against simple shops and kiosks in the markets of Shorja and Karrada, and preventing the sale of electrical and food supplies and even clothing in dollars, and taking pledges from shop owners to prevent dealing in dollars, and punishing them in the event of a violation, in procedures that have no legal ceiling or a judge’s decision, so the Central Bank violated the constitution and the law.”
Al-Bassel added, "The dollar is currently on the rise, at a time when there is no official announcement by the Central Bank about the volume of remittances leaving the country, so Ali Al-Alaq must be replaced with a professional, non-partisan figure." link
RV UPDATE BY CLARE, 4 AUGUST
Clare
Article: "Arab currencies top the list of the strongest in the world.. Is the Iraqi dinar among them?"
Quote: "Four Arab currencies top the list of the 10 most powerful currencies in the world out of 180 currencies recognized by the United Nations...1. Kuwaiti Dinar: equivalent to 3.27 dollars...2. Bahraini Dinar: 2.65 dollars...The Bahraini Dinar is pegged to the US Dollar and is used exclusively in Bahrain, which has a large expatriate community... 3. Omani Rial: 2.60 dollars. 4. Jordanian Dinar: 1.41 dollars. 5. British Pound: 1.26 dollars. 6. Gibraltar Pound: e1.26 dollars. 7. Cayman Islands Dollar: $1.20. 8. Swiss Franc: 1.14 dollars. 9. Euro: 1.08 dollars. 10. US Dollar: $1.00."
Article: "US Treasury Takes Control of Iraq's Central Bank to Combat Money Laundering"
Quote: "The three sources confirmed that a team of American employees is working permanently at the Central Bank of Iraq, as part of intensive efforts to ensure Iraq's commitment to international standards for combating money laundering and terrorist financing..
.One of the sources explained that the governor of the Central Bank of Iraq tried to resist these restrictions, but the American response was strict, as the Central Bank of Iraq was included among the institutions considered to support money laundering operations and failure to comply with sanctions."
US Treasury Takes Control of Iraq's Central Bank to Combat Money Laundering, 4 AUGUST
Three informed sources close to the political and parliamentary decision-making process in Baghdad revealed extremely dangerous information confirming that the US Treasury Department has taken a permanent headquarters in the Central Bank of Iraq building.
They considered that this step came as a result of the great pressures on the Iraqi banking system with the aim of limiting money laundering and dollar smuggling, as the governor of the Central Bank was forced to allocate an entire floor for US Treasury departments to monitor money transfers and prevent any illegal activities.
The three sources confirmed that a team of American employees is working permanently at the Central Bank of Iraq, as part of intensive efforts to ensure Iraq's commitment to international standards for combating money laundering and terrorist financing.
The sources stressed that the Iraqi banking sector is suffering from increasing pressures exerted by the US Treasury to prevent the smuggling of dollars to countries such as Iran, Russia and Syria, which are facing economic sanctions.
One of the sources explained that the governor of the Central Bank of Iraq tried to resist these restrictions, but the American response was strict, as the Central Bank of Iraq was included among the institutions considered to support money laundering operations and failure to comply with sanctions.
In previous reports, the US Treasury imposed severe sanctions on several Iraqi banks, on charges of involvement in money laundering and dollar smuggling. The policy of the Central Bank of Iraq is characterized by randomness and the absence of a clear strategic plan to protect Iraq's money from smuggling, which prompted the US Treasury to impose strict and direct control over the Central Bank and Iraqi banks.
Iraqi banks are currently undergoing a rigorous evaluation process under the supervision of the US Treasury Department, which includes monitoring all banking operations and money transfers. This situation reflects the great challenges facing the Iraqi banking system in light of the ongoing efforts to reform it and improve its image before the international community.
On the other hand, Prime Minister Mohammed Shia al-Sudani has repeatedly sought to ease these measures, trying to reach understandings with the American side. But there is strong resistance from Washington, which insists on correcting the course of the economic process and reforming the banking system in Iraq. Al-Sudani finds himself in a difficult position, as he must balance internal pressures and international demands.
In a broader context, the current situation reflects the complexity of the relationship between Iraq and the United States in the financial and banking sphere. While Iraq seeks to preserve its sovereignty and the independence of its banking system, the United States continues to exert pressure to ensure that the Iraqi banking system is not used to finance illicit activities. link
RV UPDATE BY KAPERONI, 4 AUGUST
Kaperoni
Seems to be a lot of hype lately that people are getting excited for some Dinar RV. Not how currencies work. Iraq has a lot of work to do...If and when the dinar goes up in value it will be based on the success and growth of Iraq's economy.
Kaperoni
Community Comment: "Does this have a negative, positive or neutral effect on our investment?"
Article: "Mazhar Muhammad Salih: Our cash reserves are the highest and there are no fears of the dollar rising" This is good news.
--Kaperoni
Question: "So the RV tomorrow 3:00? Lol" You need to change your thinking. There is no RV, never will be one. The only way that dinar can go up in value is 'gradually' over time based on the success and growth of Iraq's own economy.
Kaperoni
Article: "Establishment of the Commercial Arbitration Center in Iraq" Article quote: "the importance of commercial communication with various countries around the world and organizing relations in a way that achieves mutual benefit for all parties, especially as Iraq is on the verge of rejoining the World Trade Organization (WTO). He explained
that this project comes as one of the achievements within the file of Iraq's accession to the International Chamber of Commerce (ICC)." WTO requirement. Establishment of the Commercial Arbitration Center in Iraq
Article quote: "new pipeline project at an amount estimated at approximately 6.5 billion Iraqi dinars ($4.9 billion)" Community Comment "The mathematical 'mistake' basically equals 1.32. This seems very very coincidental to the deletion of the zeros." Referencing the exchange rate in billions rather than trillions is an easy mistake to make. It happens all the time and everyone thinks there's something to it. Wrong.
Question: "What happens now that the auctions are soon to be over?
What does this mean for the Dinar holders out there Kap?" It means monetary policy is changing after 20 years to reflect the economic changes in Iraq. We'll have to wait and see what happens.
---
Floating the currency is the best option but only once they have created a diverse economy that is not dependent solely on oil.
...New currencies coming out in Iraq. Not true, the Iraqi dinar is the currency of Iraq. As far as any new smaller denominations, they will be introduced only as needed if and when the value increases and warrants so. There is no significant RV!
--...The dinar to float at well over a dollar. Unlikely, the dinar when it floats will be whatever the current exchange rate is and could rise gradually accordingly.
Community comment: "Today the cbi says there are no new printing of bills"
That is correct. The Central Bank does not randomly print currency unless it's to replace damaged or worn out notes. There is no need for a new currency unless it is warranted. Moving to digital will eventually reduce physical notes.
Question: ----"They have a very largebudget ,without an increase in rate how do they meet the projects that is lined up?"
External expenses are paid in dollars since their primary revenue is dollars. Dinar is used to pay salaries, etc. in country.
CCommunity Comment: "Hopefully in the next 5 yrs we will see an appreciation of the currency price, based on the last year of progress." I agree! Iraq has an excellent opportunity now to diversify their economy and develop the banking system.
Much of the float articles that we have seen have concerns about speculators that is because they are referencing dealers speculating within the country. That will not happen.
US requested to continue commitment and soon recognize Vietnam's market economy status - VnExpress International, 4 august
Hang made the statement on Saturday while answering a reporter's question about Vietnam's reaction to the U.S. Department of Commerce (DOC)'s decision to continue to identify Vietnam as a non-market economy.
"We are disappointed that the U.S. Department of Commerce continues to identify Vietnam as a non-market economy. Although recognizing many positive changes in the Vietnamese economy in recent times, this decision does not fully reflect Vietnam's great efforts and achievements in building and developing a market economy, which have been recognized by the international community," she said.
In the spirit of comprehensive strategic partnership, Vietnam requests the U.S. to continue implementing its commitment to broad, strong and constructive coordination and to soon recognize the market economy status of Vietnam.
https://e.vnexpress.net/news/news/us-requested-to-continue-commitment-and-soon-recognize-vietnam-s-market-economy-status-4777372.html
RV UPDATE BY MILITIAMAN, 4 AUGUST
Militia Man
'The Theft of The Century'...It's a big deal. It's in the forefront again...They're going to claw back a lot of money. A LOT of money. Why is that important to you and I?
If they claw back a lot of money it all goes back to the treasury. Tens of billions of dinars or multiple billions of dollars. It's all clawed back from people that stole their money from the citizens...We'd have to pay out on that [988 billion dinars] if they were able to keep them... Finding this stuff is amazing. It's really good for the country...citizens and it's really good for you and I...
The delete the zeros project is real and it's not a lop...We've been over this and over this and I'm sticking to that.
Everybody's pretty much pumped, pretty much excited because the news that's been coming in is off the charts. Saleh has been out for the last couple of weeks educating everybody...
reiterating why they do what they do...and how they do it. Economists coming out talking about what they believe the Central Bank of Iraq is dealing with with the Federal Reserve Bank, United States Treasury. You can see these guys are serious...
Parliament hosts Central Bank Governor to discuss exchange rate, 4 august
Parliament hosts Central Bank Governor to discuss exchange rate
2024-08-04
Parliament hosts Central Bank Governor to discuss exchange rateAlsumaria News – Politics
A parliamentary source revealed today, Sunday, that the parliament is hosting the Governor of the Central Bank, Ali Al-Alaq, today to discuss the exchange rate.
The source told Sumaria News, “The Finance Committee is hosting the Governor of the Central Bank in today’s parliament session, Sunday.”
The source added, “The focus of hosting the Governor of the Central Bank is to discuss the gap between the official price of the dollar and the price in the parallel market.”
alsumaria.tv
RV UPDATE BY PATRIOT ROD STEEL, 4 AUGUST
Patriot Rod Steel
I’ve had multiple confirmations everything in Israel, Iran & Venezuela is already done & settled. Now
#PatriotRodSteelUS Treasury Takes Control of Iraq's Central Bank to Combat Money Laundering,, 4 AUGUST
Three informed sources close to the political and parliamentary decision-making process in Baghdad revealed extremely dangerous information confirming that the US Treasury Department has taken a permanent headquarters in the Central Bank of Iraq building.
They considered that this step came as a result of the great pressures on the Iraqi banking system with the aim of limiting money laundering and dollar smuggling, as the governor of the Central Bank was forced to allocate an entire floor for US Treasury departments to monitor money transfers and prevent any illegal activities.
The three sources confirmed that a team of American employees is working permanently at the Central Bank of Iraq, as part of intensive efforts to ensure Iraq's commitment to international standards for combating money laundering and terrorist financing.
The sources stressed that the Iraqi banking sector is suffering from increasing pressures exerted by the US Treasury to prevent the smuggling of dollars to countries such as Iran, Russia and Syria, which are facing economic sanctions.
One of the sources explained that the governor of the Central Bank of Iraq tried to resist these restrictions, but the American response was strict, as the Central Bank of Iraq was included among the institutions considered to support money laundering operations and failure to comply with sanctions.
In previous reports, the US Treasury imposed severe sanctions on several Iraqi banks, on charges of involvement in money laundering and dollar smuggling. The policy of the Central Bank of Iraq is characterized by randomness and the absence of a clear strategic plan to protect Iraq's money from smuggling, which prompted the US Treasury to impose strict and direct control over the Central Bank and Iraqi banks.
Iraqi banks are currently undergoing a rigorous evaluation process under the supervision of the US Treasury Department, which includes monitoring all banking operations and money transfers. This situation reflects the great challenges facing the Iraqi banking system in light of the ongoing efforts to reform it and improve its image before the international community.
On the other hand, Prime Minister Mohammed Shia al-Sudani has repeatedly sought to ease these measures, trying to reach understandings with the American side. But there is strong resistance from Washington, which insists on correcting the course of the economic process and reforming the banking system in Iraq. Al-Sudani finds himself in a difficult position, as he must balance internal pressures and international demands.
In a broader context, the current situation reflects the complexity of the relationship between Iraq and the United States in the financial and banking sphere. While Iraq seeks to preserve its sovereignty and the independence of its banking system, the United States continues to exert pressure to ensure that the Iraqi banking system is not used to finance illicit activities. link
Awake-in-3D: Are you Prepared for Currency Exchanges in a New Gold-Backed System?, 4 AUGUST
Are You Prepared for Currency Exchanges in a New Gold-Backed System?
On August 3, 2024
By Awake-In-3D
New gold-backed digital currencies are coming and learning as much as we can about the future of GCR currency exchanges should be on everyone’s to-do list.
A new and promising financial system alternative is emerging—one that harnesses the intrinsic stability and value of gold-backed digital currency technology.
It has long been my view that a gold-backed component is what will create a significant revaluation (RV) of our GCR currencies and bonds.
Key Takeaways
- Understand Gold-Backed Value: Grasp the concept of how gold-backed currencies tie value directly to gold, ensuring more stability compared to fiat currencies.
- Learn Transaction Mechanics: Familiarize yourself with the process of direct peer-to-peer transactions in the new system, which bypass traditional banking methods.
- Embrace Digital Tools: Utilize modern digital apps and platforms designed for managing and converting gold-backed currency units seamlessly.
- Prepare for the Transition: Stay informed and ready for the shift to gold-backed currencies to gain a significant advantage in the evolving financial landscape.
As we all witness the logical conclusion to the Great Global Fiat Currency Debt System experiment, understanding and preparing for the introduction of a new gold-backed currency system alternative becomes essential.
This alternative financial framework, often referred to as the Global Currency Reset (GCR), offers a more stable and reliable store of value by tying currency directly to gold.
Unlike fiat currencies, which are backed only by government promises, gold-backed currencies ensure that the value of money is anchored in a tangible and historically trusted asset.
In the not-too-distant future, we may witness a shift where digital platforms facilitate direct peer-to-peer transactions using gold-backed currency units, bypassing traditional banks and reducing transaction fees.
This system promises greater transparency and security, making financial exchanges simpler and more efficient.
This article explores the mechanics of how GCR currency exchanges might work, providing you with information needed to help understand this impending change.
By familiarizing yourself with these concepts now, you can position yourself advantageously as this new financial paradigm takes shape.
The Basics of Gold-Backed Currencies
Gold-backed currencies are mediums of exchange where the value of the currency is directly tied to a specific amount (weight) of gold. Unlike fiat currencies, which are backed only by government promises, gold-backed currencies offer a tangible asset that provides an intrinsic store of value.
This shift is expected to bring greater stability and reduce the risk of manipulation that plagues our current global fiat currency system.
Why Gold?
Gold has been a symbol of wealth and stability for centuries. Its inherent value, rarity, and universal acceptance make it an ideal foundation for a new financial system. As fiat currencies face devaluation and economic uncertainties, gold offers a safe haven, ensuring that currency retains its value over time.
The Mechanics of Currency Exchange
In the emerging gold-backed system, currency exchanges will look quite different from what we are used to today. Instead of dealing in purely digital or paper money, transactions will involve units that represent a specific amount of gold.
For example, a unit might be equivalent to one gram of gold. This means that the value of your currency is directly tied to the market price of gold, providing a more stable and reliable store of value.
Imagine you have a substantial amount of new gold-backed currency units after an exchange, each based on 1/2 gram of gold. Today, one gram of gold is worth around $75.
As the new system values these units in terms of gold, they will have substantially higher purchasing power when exchanged for pure fiat currencies such as the US Dollar or Euro. This is how the GCR currency revaluation is realized, leading to significant gains in value, especially as the global economy adjusts to this new standard.
Practical Applications
How will this work in practice? Let’s say you want to buy a house. In the new system, you could transfer the gold-backed units directly to the seller without the need for traditional banks. This direct peer-to-peer transaction not only simplifies the process but also reduces fees and eliminates the need for middlemen.
Digital Integration
One of the most exciting aspects of this new system is its integration with modern digital technologies. Apps and desktop platforms will allow users to manage their gold-backed currency units seamlessly.
You can convert your units into local digital currencies, deposit them into your bank, and spend them as you would with any other form of money.
This blend of old-world value (gold) with new-world technology offers a compelling vision of the future of finance.
Future Implications
As the new gold-backed currency system gains traction, we may see a significant shift in how we perceive and use money.
Traditional fiat currencies like the dollar or euro might eventually adopt gold backing to remain competitive. For now, this system offers a robust alternative, promising greater security, transparency, and stability.
Are You Ready?
The transition to a gold-backed currency system is more than just a financial adjustment; it’s a paradigm shift. Understanding how this system works and preparing for its implementation can give you a significant advantage.
Stay tuned to the “Endgame GCR” podcast for more insights and updates on this transformative journey. The future of finance is golden, and now is the time to get prepared.
Many more details and examples of the new gold-backed currency system and RV/GCR exchanges are discussed in Episode 3 (links below).
- Podcast on YouTube: Endgame GCR Episode 3 (YouTube)
- Podcast on Rumble: Endgame GCR Episode 3 (Rumble)
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