Wednesday, July 23, 2025
Transforming Iraq into a regional hub: Establishing a "Global Gold City" in Baghdad
Transforming Iraq into a regional hub: Establishing a "Global Gold City" in Baghdad
The Iraqi Ministry of Trade has announced the establishment of a dedicated city for the gold and jewelry industry in the Iraqi capital, Baghdad.
The aim is to localize the precious metal industry and boost local production within the country, "which will contribute to transforming Baghdad into a regional center for the gold industry and trade."
The ministry announced in a statement on Wednesday, July 23, 2025, that the Ministerial Council for the Economy had approved the proposal submitted by the Ministry of Trade to establish a "Global Gold City" in Baghdad. The ministry described the move as "strategic, aiming to localize the gold and jewelry industry within Iraq and boost local production."
Minister of Commerce, Athir Dawood Al-Ghurairi, emphasized in this regard that "the project represents a qualitative leap in the development of national industries," noting that "the city will include an integrated system that includes specialized industrial units, advanced training centers for goldsmithing according to international standards, as well as advanced markets and an exchange for gold and jewelry. "
For his part, Director General of the Department of Foreign Economic Relations, Riyadh Fakher Al-Hashemi, explained that "the project aims to support the private sector and expand its contribution to the national economy," noting that "the city will be established within the integrated economic city in Baghdad, contributing to transforming the capital into a regional center for the gold industry and trade."
According to Al-Hashemi, the ministry has begun coordinating with the National Investment Commission to complete the requirements for land allocation and issue investment licenses in preparation for the project's implementation. link
MNT GOAT: "CBI Sets Stage for Reinstatement as Dinar Nears Official Exchange Rate"
EXCERPTS FROM MNT GOAT
"There is going to be a situation soon that will allow the CBI to conduct the Project to Delete the Zeros and then move on to the reinstatement.
We already read in the article titled 'THE DINAR IS RECOVERING AND THE EXCHANGE RATE IS DECLINING TOWARDS THE OFFICIAL RATE' that the CBI predicts the parallel market rate to equal the 'official' CBI rate this year."
Article: "THE US HAS STOPPED SENDING CASH DOLLARS TO IRAQ. IS THIS THE BEGINNING OF A BLOCKADE? " Quote: "... the United States has decided to completely halt cash dollar shipments to Iraq..."
The operative word is “completely” not just to some banks. This will force getting off the sole peg to the US dollar...They desperately need to get off this peg and to a “basket” of currencies the IMF already has lined up to use. The US has blocked dollars before but this time to EVERY bank in Iraq and Iraq as a whole. I look at this as the final nail in the coffin for the parallel market. We should see the Iraq dinar rise to very close to 1100 very soon. We would like to see a target of 1000.
Source: New Digital Bank In Iraq Threatened With International Sanctions Over Money Laundering
Source: New Digital Bank In Iraq Threatened With International Sanctions Over Money Laundering
July 21, 2025 Al-Mustaqilla/- An informed source said that a new digital bank in Iraq, linked to a prominent political figure, faces international scrutiny and potential sanctions in the coming period due to serious financial cases related to money laundering and smuggling funds abroad.
The source, who spoke on condition of anonymity, confirmed to Al-Mustaqilla's correspondent that
investigations conducted by international and security agencies revealed the bank's involvement in suspicious financial transactions, most notably the issuance of fake bank cards used to transfer illegal funds outside Iraq.
This has sparked widespread concern within the local and international banking community.
These developments come amid mounting criticism of the Iraqi financial system, which suffers from weak oversight and is being exploited by some political parties to pursue personal interests at the expense of the national economy.
The source confirmed that sanctions will be imposed on the bank in the coming period, which could open the door to broader investigations to uncover more suspicious financial networks inside and outside Iraq.
This news raises serious questions about the transparency of the Iraqi financial sector and the possibility of achieving real reforms that put an end to the exploitation of political money among modern digital banks. https://mustaqila.com/مصدر-مصرف-رقمي-جديد-في-العراق-مهدد-بعقو/
Wednesday Coffee with MarkZ. joined by Bob Lock. 07/23/2025
Wednesday Coffee with MarkZ. joined by Bob Lock. 07/23/2025
Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good morning fellow coffee drinkers and MarkZ friends and family
Member: So what is new and exciting today Mark??? Are we almost at the end?
MZ: I do think we are almost at the end. Although no one knows the exact timing….events point as this being veery close.
Member: What are we looking for next regarding the GCR? is there any event that must occur, or are we waiting for a date to come like August 1st when tarrifs begin?
Member: Bruce thinks this is our week for sure
Member: Praying and praying some more than Bruce is right.
MZ: Nothing fresh since yesterday on groups or bonds. Yesterday the groups side was very encouraging.
MZ: “ Al Sudani’s office publishes new details on phone call with US Secretary of State” They discussed a lot of things but Erbil was high on their list. Most of the call was about getting oil pumping from the Kurdish region.
Member: Baghdad will be paying Kurd salaries in “the next few hours” and Kurd COM came out and said they’ve agreed to resume oil so maybe today
Member: Trump has just recently made trade deals with Japan, Indonesia and the Phillipines.
Member: With a deal with Vietnam last month….Things are getting interesting
MZ: This is a huge one: “Trump announces Trade deal with Japan” He also talks about the deal with Indonesia. There has been a massive change in trade relations …..we are watching all the countries we are interested in get trade deals…I think this is a tell tale sign.
Member: Sounds like Nesara/Gesara to me…..I believe currency rates are also built into those trade deals.
Member: I have always wondered if Nesara and RV would go at the same time .. I know it doesn’t have to. But it makes sense.
MZ: “Trump considering eliminating Capital gains tax on houses” It makes sense as we have a housing shortage and many people are not selling their houses because they don’t want to take the tax hit. Now we need action…not just talk
Member: That goes for the RV as well…..lots of talk and chatter….but we need some action.
Member: We don't have a Capital Gain tax on houses in Quebec. Only secondary houses, not the main one.
Member: How about stopping All Unconstitutional Taxes??? What a concept!
Member: Will we have to pay Capital Gains tax on our currency exchange?
Member: Hope for the best but prepare for the worst…..noone really know until we exchange.
Member: If we could audit the Federal Reserve we would find that they have enough money to pay off our 33 trillion National Debt.
We also need to audit the Treasury and Ft. Knox…….Is DOGE gone now or are they still working?
Member: Maybe they are working behind the scenes????
Member: I wonder if Congress being gone on vacation make a difference or does it matter for the RV?
Member: we need to gather in prayer and plead to God for the RV to please happen soon.
Member: What does your gut say Mark?
MZ: My gut says we are almost done….so many of my sources are now looking at the week of the 28th. I am hopeful and trying not to get to excited.
Member: I’m hopeful RV for before the 28th
Member: Thanks Mark and Mods…..I hope we all have a wonderful Wednesday today.
The US Has Stopped Sending Cash Dollars To Iraq. Is This The Beginning Of A Blockade?
The US Has Stopped Sending Cash Dollars To Iraq. Is This The Beginning Of A Blockade?
July 21, 2025 Al-Mustaqillah/- Private sources confirmed that the United States has decided to completely halt cash dollar shipments to Iraq, a move described as potentially the beginning of a "financial blockade" on some Iraqi banks involved in currency smuggling and money laundering.
According to a source who spoke to Al-Mustaqilla on condition of anonymity,
Washington's decision does not pertain to Iraq as a country, but rather targets specific banks suspected of involvement in suspicious dollar transfers to countries subject to international sanctions.
This has angered the US Treasury, prompting it to tighten controls on dollar movement within the Iraqi market.
Sudden drop in exchange rate after the decision
Remarkably, the US decision coincided with a significant decline in the dollar exchange rate in the Iraqi market. Experts interpreted this as a natural consequence of the restrictions on the circulation of cash and the prevention of its smuggling abroad.
This led to an increase in supply in the local market and a temporary decline in its price.
Government shift towards “legal dollarization”
Separately, a banking source revealed that the Iraqi government has been relying on
new mechanisms for disbursing salaries and conducting financial transactions for months.
These mechanisms involve legal invoices processed through official banks and digital platforms linked to the global financial system. This is an alternative to the paper dollar shipments previously transported into the country by air.
The source indicated that this step represents a major shift in cash liquidity management in Iraq,
making it difficult for suspicious entities to continue smuggling or manipulating the currency market.
Is this the beginning of the storm?
The US decision raises many questions about the future of dollar transactions in Iraq,
especially in light of escalating regional tensions and Washington's tightening of financial sanctions.
Are we witnessing the beginning of a new phase of international restrictions on the Iraqi economy?
Or is this merely a technical measure against some violating banks? https://mustaqila.com/أمريكا-توقف-إرسال-الدولار-النقدي-إلى-ا/
MNT GOAT: "CBI Moves Closer to Dinar Reinstatement as Market Rate Aligns with Official Rate"
STATUS OF THE RV
LOL, LOL to all you TNT followers. So, I guess your great pied-piper leader did not get the correct information for all you gullible puppets out there for this weekend’s RV?
Oh… I guess his purely speculative prediction from his “secret” sources didn’t pan out…lol… AGAIN? Oh…I wonder why! Oh…. But this was only about the thousandth time! Good luck with all this bullshit.
_____________________________
Yes, No RV yet. But I do have some wonderful news for everyone that shows us significant changes are coming. This news is all FACTUAL. We don’t have to guess or predict. We can see the writing is on the wall.
There is going to be a situation soon that will allow the CBI to conduct the Project to Delete the Zeros and then move on to the reinstatement.
We already read in the article titled “ THE DINAR IS RECOVERING AND THE EXCHANGE RATE IS DECLINING TOWARDS THE OFFICIAL RATE” that the CBI predicts the parallel market rate to equal the “official” CBI rate this year.
Is this not what my contact told me we wanted to see prior to the Project to Delete the Zeros? But this is only the start of the WOW! news for today. So, let’s continue….
So, let me explain these new developments that will lead help us see the RV is coming soon. To get to this news I first have to refer to the IMF Article 4 consultation review with Iraq just completed a couple weeks ago.
These sessions give the IMF member professional advice on the economy, what to expect in the future and advise how to prevent any negative impacts.
The IMF issues their results and there are many negative issues they must work on, but this is constructive information as there is always work to be done to improve.
The best part of all this is the follow-up statements in an official brief the IMF made about Iraq’s exchange rate arrangements which I will now address.
Much more to come!
Let’s all chip in and help keep the Mnt Goat Newsletter ALIVE!
I am looking forward to bringing you the rest of this WOW! news soon and all the articles to back up what I am about to tell you.
America Is Choking Off The Dollar In Iraq... And The Central Bank Is Distributing It Only To "Close Associates"!
America Is Choking Off The Dollar In Iraq... And The Central Bank Is Distributing It Only To "Close Associates"!
July 22, 2025 Al-Mustaqilla/- A source said that the Iraqi market is currently witnessing a severe shortage of cash dollars, as a result of what he described as a “well-considered” move by the Central Bank of Iraq,
which decided to restrict dollar transactions to a limited number of private and government banks,
while preventing or restricting the flow of hard currency to exchange offices and open markets.
According to the source, who spoke to Al-Mustaqilla on condition of anonymity, this measure is an extension of a previous US decision to
halt cash dollar transfers to Iraq.
This decision is part of a regulatory effort aimed at controlling the flow of currency and preventing smuggling and money laundering, particularly after Washington identified Iraqi financial networks involved in suspicious transfers to countries subject to sanctions.
Dollar shortage crisis in the market:
The absence of cash dollars from the market has opened the door to a stifling liquidity crisis,
leading to a decline in actual demand for the US currency and
contributing to a depreciation of the exchange rate on the parallel market.
Yesterday, the dollar exchange rate recorded a significant decline, reaching 139,000 dinars for every $100, compared to previous levels of more than 143,000 dinars.
However, this "drop" in price does not reflect economic improvement as much as it indicates a shortage of supply and a contraction in commercial activity in hard currency,
at a time when a large segment of traders are turning to the Iraqi dinar in the absence of the dollar.
Dimensions of the American decision:
Washington's decision to halt the dollar exchange rate, while not officially announced as a punitive measure, is part of a series of pressures exerted by the US Treasury on Baghdad to regulate the financial and banking sectors and prevent the flow of dollars to countries such as Iran, Syria, and Lebanon.
These pressures have resulted in the inclusion of Iraqi banks on watch lists, the imposition of strict restrictions on foreign transfers, and a reduction in the dollar cash quota previously sent by air to Baghdad.
Are we facing a "dollar drying up" phase in Iraq?
The facts indicate that Iraq has actually begun to enter a phase that can be called the “drying up of the cash dollar,” a tactic with two objectives:
Internally: controlling the market and regulating the use of foreign currency.
Externally: appeasing Washington and avoiding sanctions or negative financial ratings. However,
this approach requires radical reforms in the banking system and ensuring comprehensive financial coverage for citizens.
Otherwise, the shortage could turn into a broader crisis that would disrupt the economy and return the market to a state of chaos and confidence in the currency. https://mustaqila.com/الدولار-في-العراق/
MNT GOAT: "IMF Greenlights Iraq's Next Exchange Rate Shift"
MNT GOAT
"THE INTERNATIONAL MONETARY FUND (IMF) HAS ISSUED A BRIEF EXPLAINER ON IRAQ'S EXCHANGE RATE ARRANGEMENT."
As part of a follow-up to last week's report on the state of the Iraqi economy, (from the last Article 4
Consultation Session) the IMF clarified as follows: (the word "clarified" is the operative word here)
"Exchange Rate Arrangement
"Iraq's de jure and de facto exchange rate arrangements are classified as a conventional peg arrangement. The Central Bank Law gives the Board of the Central Bank of Iraq (CBI) the authority to formulate exchange
rate policy. Etc., Etc., Etc. Please go read the entire article. Yes, the IMF is telling Iraq they have the green light to go ahead with the next
exchange rate change, when they are ready.
Their words not mine.....
The Dollar Approaches The Official Rate: A Real Reform Or A Temporary Trick?
The Dollar Approaches The Official Rate: A Real Reform Or A Temporary Trick?
July 22, 2025 Last updated: July 22, 2025 Al-Mustaqilla/- In a move that suggests a "shift" in the government's policy toward the dollar crisis, Mazhar Mohammed Saleh, the financial advisor to Prime Minister Mohammed Shia al-Sudani, revealed five factors that he said would lead to narrowing the gap between the official and parallel rates, paving the way for what he described as a "matching" phase between the two rates.
But the most important question is:
Is what is happening real reform?
Or is it merely "economic makeup" that masks a fragile reality?
The official exchange rate, set by the Central Bank at 132,000 dinars per $100, is now approaching the parallel market rate of 139,000 dinars.
This decline is viewed by some as a positive sign, while others view it as a "politicized" and temporary move to calm the street ahead of upcoming political and economic events.
Five factors or five pressure cards?
The government's primary consideration is preventing dollarization, particularly in the real estate sector.
While this may sound like a good move in theory,
it raises questions about its implementation in a market teeming with informal transactions.
The second factor relates to transfers via global correspondent banks after the central bank window closed.
However, observers question:
Are these transfers truly available to everyone,
or are they restricted to specific names and companies?
The third factor is the entry of small traders into the official transfer window,
a step whose effectiveness on the ground is questioned by many due to the red tape and bureaucracy.
The fourth factor revolves around the expanding use of electronic cards, a move that is hampered by technical infrastructure and a deeply ingrained cash culture.
The fifth factor relates to what the government calls "price defense" through cooperatives, a policy that could return Iraq to the era of "ration cards,"amid doubts about its sustainability.
Is the difference really less than 4%?
Advisor Saleh's statements that the difference between the two rates has become "merely a transaction cost" open the door to a broad economic debate:
Can we speak of "convergence" while the parallel market persists?
Have the dollar mafias truly been eliminated?
Or have their positions merely shifted?
In conclusion: appeasement or radical treatment?
Achieving a unified exchange rate is a legitimate popular and economic demand.
However, without a comprehensive reform of the financial system, increased transparency in transfers, and ensuring fairness in cash distribution, any decline in the parallel market may prove to be nothing more than a "warrior's rest" before another explosion. https://mustaqila.com/الدولار-يقترب-من-الرسمي-إصلاح-حقيقي-أم/
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