STATUS OF THE RV . PART. 6
In another recent article on this topic titled “SANCTIONS AND MISTRUST.. HOW WILL THE IRAQI DIGITAL CURRENCY BE BORN?” The financial and banking expert Mustafa Hantoush confirmed that talking about launching an Iraqi electronic currency at the present time is premature, in light of a banking system that suffers from structural problems and weak infrastructure.
He explained to “Jarida Platform” that “the culture of electronic payment in Iraq is still immature, and unless the government intervenes and imposes the adoption of electronic payment in government departments, we will not witness any real development in this field.”
So, although the finance committee may like the idea as it may solve many issue with the dollar, it may also cause other issues. One being the infrastructure for electronic payments is now barely off the ground as electricity is not yet even full 24/7 service in most provinces.
The hardware also will be needed and the establishment of servers and a data center. I get the feeling after reading this article this will not happen any time soon and we will be far out of this investment before this happens. This was all futuristic talk by the finance committee. The next question is will the U.S. even allow a digital currency in Iraq, as Donald Trump is not in favor of the U.S. ever having a digital currency. It will surpass privacy and instill deep control over the population, something that impedes upon the virtues of a FREEDOM and LIBERTY.
What would happen if Iraq did institute a digital currency prior to the RV?
This action would impede and slow down the necessity to RV since they would not have to conduct the project to delete the zeros and there would be no longer pressures to do so. On the other hand, it would force the turn-in of all hard cash to the banks for credit and thus finally all this cash back into the banking system for liquidity. But there are other ways of doing this too, as we are now seeing taking place. Will the people of Iraq accept this lack of FREEDOM of privacy of their expenditures and the government controlling their every dinar spent? Of course, many Iraqi may feel this might be a step up from what they now have, without realizing all the future ramifications it will cause. Bottom line is I am not worried about this transition to a fully digital currency unless I firmly hear the CBI come out with a directive policy to begin the process. I don’t think this is going to happen until we are way out of this investment and the dinar has already been reinstated.
I want to bring you one more article and this one is from the past. I stumbled on this one while searching for the past articles on the digital currency stuff. Take a look at it as it is very interesting and tells us so much of Ali Al-Alaq and his mind set for the dinar. Look at the date….. So, in today’s news we just read that from Saturday Alaq said and I quote from Alaq that “IRAQ AMONG THE BEST IN THE WORLD IN CONTROLLING THE SALE OF THE DOLLAR”. Really? So, you see some the news is just hopeful. The CBI does have plans but it might change as the dynamics of the politics change too. This was during the first Trump administration.
If the CBI could really control the dollar so well than after 7 years from this article you would think the CBI could have the dinar equal to the dollar by now? Folks its been 7 years since this article. Are you listening what I am trying to tell you? I am not trying to discourage you but to wake you up to the reality of what is really happening in Iraq. There are some strange things happening in Iraq!