STATUS OF THE RV , PART. 2
I promised I would continue my weekly calls to Iraq to learn what is going on and that is what I fully intend to do.
I will be calling on Wednesday and relaying the info of my call to you on Thursday. I will ask about this Oil and Gas Law again.
Remember too that I need to unwind the mystery of what the hell is holding up the Project to Delete the Zeros and move ahead. Could simply be the Oil and Gas Law? The CBI seems to be at a standstill now.
It is my understanding, as told to me by my CBI contact, that they are monitoring the parallel market very closely at this point.
They are monitoring the economy for inflation as a result of this latest move of removing the currency auctions.
So far, the dollar has not changed all that much. The enormous spike in the dollar rate everyone expected did not occur, as the CBI said it would not.
So many of these economists were not correct. What do they know when it comes to this unchartered territory anyhow? These are all unprecedented moves by the CBI and there are no standard economic doctrines for them.
However, having said all this, there is still some very good news to share today.
We should all be happy nothing in Iraq or outside of Iraq may cause an issue. Many speculate the Trump will slap sanctions back on Iran soon after the inauguration. Folks, this is pure speculation.
The important part is that if this does occur, Iraq is much more sheltered from its effects due to moving the dollars sales to correspondent banks, outside of Iraq. The international auditing firms also protect the dollar sales from corruption, something that Iranian influence in the government perpetrated.
So, the US certified their electoral votes yesterday and so onward to the January 20th inauguration timeframe for President Trump for a second term. Will Trump be more responsive to Iraq than Joe Biden?
There is recent celebrating by the Central Bank of Iraq as it announces its success in adhering to its program related to the transition from external transfers through the electronic platform to the work of Iraqi banks through their foreign correspondent banks. Claims that the closure of the platform was expected to lead to an increase in demand for dollars in the parallel market, as many importers and traders rely on buying hard currency to meet their needs, thus driving up the price of the dollar even more. So far these claims have not occurred to any effective extent.
No comments:
Post a Comment