FIREFLY: We have made it to the finish line, We just need to cross it now! @DINARREVALUATION #iqd

 

15 YEARS OF FALSE PROMISES… “OUR MONEY WAS LOST BETWEEN THE CENTRAL BANK AND WARKA BANK” WITH COMMENTS OF MNT GOAT, 16 FEB

 15 YEARS OF FALSE PROMISES… “OUR MONEY WAS LOST BETWEEN THE CENTRAL BANK AND WARKA BANK”

 
Dozens of citizens demonstrated today, Tuesday, in front of the Central Bank in the center of Baghdad To claim their money deposited in Warka Bank for 15 years.

The correspondent said Sumerian News: “Dozens of citizens demonstrated this morning in front of the Central Bank gate. Iraqi in street Al-Rasheed in central Baghdad, to demand the bank’s intervention to put an end to their ongoing suffering, 

as Al-Warka Bank,  ;despite promises, refuses to pay depositors’ money, the value of which has fallen by more than half in more than 15 years.

The reporter added, “The demonstrators appealed to all…Governments The previous and current and parliament to no avail, after their failure to appeal to the Central Bank and make false promises to pay their money,” noting that they “described what is happening as a stain on the brow of the banking system. “Iraqi In general and the Central Bank in particular.

He said, “The demonstrators confirmed that their last resort is to appeal to the religious authority to intervene to put an end to their suffering.”

It is noteworthy that the Central Bank Iraqi He took previous measures against Al-Warka Bank, but to no avail, after his failure to provide solutions to the depositors.

(Can you see now why the citizens hesitate to trust in the banks in Iraq? Can you blame them? Oh… and that deposits are now down because of this protesting over Warka bank.)

STATUS OF THR RV. PART. 4 : Q & A, BY MNT GOAT, 16 FEB

 STATUS OF THR RV. PART. 4 

Q & A

Question From Jack Bowra: Why does America sell dollars to Iraq if they are so worried about them then funnelling through to Iran?

Answer Mnt Goat: Guten Tag Jack.I hope you are having a nice winter and staying warm. Okay, so let’s answer your question. Have you been reading my Newsletters? If you were, you should know the US is not “selling” dollars to Iraq. The dollars are in a DFI fund. When oil is sold from Iraq the buyer MUST pay in US dollars. They call these “petro- dollars”. 

These payments go directly into the DFI fund which was set up to protect Iraq from creditors left over from the Saddam Hessian regime. They did this to protect Iraq. When Iraq needs money to pay for imports, they submit their budget to the Federal Reserve, and they would send plane loads of paper cash $100 bills to Iraq to meet their budget. Remember this is Iraq’s money. 

The problem is that this system opened Iraq wide open for corruption and the US Federal Reserve that set up this system knew it and used it to scam the oil revenues from Iraq. Folks they are not that dumb that they couldn’t project this would happen.

 This became their little slush fund. A little for their pockets, a lot for Iran and nobody would know the difference, they thought. They figured everyone would just think it was all Iranian corruption and smuggling and no one would catch on to their scheme. But the Trump administration is catching on and this all going to come out in the news soon. 

Watch for it! So, how do you now stop the corruption is the real question. How do you stop 20 years of corruption? Some people at the highest levels are getting paid off in the US to let all this money go to Iran. This is the real problem. I have been telling everyone this for a long time. The U.S. is the real problem. The relationship of the U.S. with Iraq in this matter had to change and so it is now finally changing. Buy, buy U.S. Dollar, hello Iraqi Dinar. 

We find out today that Russian companies were about to complete important projects in Iraq that began before 2003, especially in the energy sector, but the painful security events that occurred in 2004 led to the suspension of these projects back then. What ever happened to Germany’s Seimans and the U.S. GE in Iraq?

 I thought billions were allocated in the last couple budgets to complete the electric grid and these contracts were awarded to them? Will Russia instead now move in and finally complete the grid project? 

EXCERPTS FROM MARKZ: " ...they have been seeing is right at $3.24 consistently now ‪@DINARREVALUATION‬

 

AMERICA STOPS THE DOLLAR CASH TO IRAQ: WILL THE DOLLAR RISE AGAINST THE DINAR? WITH COMMENTS OF MNT GOAT, 15 FEB

 AMERICA STOPS THE DOLLAR CASH TO IRAQ: WILL THE DOLLAR RISE AGAINST THE DINAR?

In a surprising move, reports indicate that the United States has decided to stop sending cash dollars to Iraq, a decision that could have profound effects on the Iraqi economy and its financial market. This shift raises many questions about its impact on the value of the Iraqi dinar, currency markets, and the local banking sector.

(All I can say is its about time! But this is a major change and there will be adjustments that will have to be made.)

What is a cash dollar?

Cash dollars refer to money that is physically sent to Iraq by the United States, usually through banks or other economic mechanisms. This cash flow has played an important role in supporting the Iraqi economy, especially in light of the economic challenges facing the country.

The reason behind the American decision

Sources indicate that the US decision comes in the context of economic and diplomatic pressures on Iraq, which include issues related to the national economy and monetary policies. Some reports also indicate that the United States may seek to limit the use of the dollar in Iraqi financial transactions, in an attempt to enhance the stability of the local currency and reduce dependence on foreign currencies.

Impact of the decision on the Iraqi dinar

The decision is expected to cause significant volatility in the local currency market.  The US dollar is one of the main currencies traded in Iraq, and stopping its cash flow could lead to a shortage in supply, which could (initially) push the dollar higher against the dinar.

The impact of the rise on the Iraqi market

The increase in the value of the dollar may lead to higher prices in the Iraqi market, which will exacerbate the burden of inflation and affect the ability of citizens to purchase basic commodities. This may also indirectly affect economic activity, especially in sectors that rely heavily on imports.

(So how can the CBI get the dinar to be worth more than the dollar? Is it time to conduct the in-country RV to just over a dollar? Just asking…)

Are there any solutions?

The Iraqi government will face a major challenge in dealing with these developments. The next phase may require developing new economic and financial strategies to mitigate the impact of sudden changes in currency rates. It is necessary to have a move towards strengthening the Iraqi dinar and diversifying the sources of the national economy away from heavy reliance on the dollar.

Conclusion

In light of these developments, it will be important to monitor the short- and long-term effects of this decision. Iraq needs decisive steps to secure the stability of its national currency and protect its economy from the repercussions of the decision to stop the use of the CASH dollar.

(Remember this is the use of CASH dollar. They will still have electronic transfer from the Feds of dollars to Iraq. But this is a move that I believe is in agreement with the CBI to finally shut down the parallel market for good. This comes on the heals of the issue with Rafidian bank’s continue smuggling of the cash dollars to Iran. This is an amazing article. A “WOW!” article. I still am having a hard time believing it when I read it. The US is finally doing it. They should have cut off the dollars off years ago. We would be much farther ahead now in the RV process. But now it is being done. A good sign for us investors. How will this impact the Iraqi economy? Seems to me the US wants the dinar to rise in value and this may be leading us to something VERY IMPORTANT.)   

STATUS OF THE RV , PART. 3 BY MNT GOAT, 15 FEB

 STATUS OF THE RV , PART. 3

What else is in the news? 

ECONOMIC SECTOR: 

😊There are some other very interesting articles in the news channels from Iraq. Meanwhile among all the dollar issues, Iraq is growing and economically it is moving ahead at warp speed. Almost a dozen huge cargo ships are now docked at the port of Faw and unloading. 

The country of Great Britian as well as the United States finally decided to come onboard and sink some their investment money in Iraq for a number of various projects. See article titled “BRITISH AMBASSADOR TO NINA: BAGHDAD AND LONDON WILL IMPLEMENT MAJOR PROJECTS AND OUR COMPANIES ARE READY TO INVEST IN IRAQ” . We also hear very good news in the article titled “LAUNCHING THE IMPLEMENTATION OF THE {FURSAN} RESIDENTIAL CITY.. AND AL-SUDANI: IRAQ IS FACING A NEW INDUSTRIAL RENAISSANCE“. Prime Minister Mohammed Shia Al-Sudani launched, today, Wednesday, the executive works for the development project of the Al-Fursan residential city in the Al-Nahrawan area in Baghdad. 

ENERGY SECTOR: 

😊In the article titled “MP CALLS FOR ENACTING OIL AND GAS LAW TO SOLVE SALARY CRISIS” a member of the Parliamentary Oil, Gas and Wealth Committee Nazim Al-Shabli called on the federal government today, Tuesday, to expedite sending the draft oil and gas law.  So, this is another issue that we have been waiting for to get resolved. The lack of a solid law in this area of energy has caused Iraq great pain over the decades. I surely hope they can get this constitutional requirement completed sooner than later. 

😊It an article titled “MINISTER OF ELECTRICITY DISCUSSES WITH US CHARGÉ D’AFFAIRES THE DEVELOPMENT OF THE ENERGY SYSTEM IN IRAQ“. On Wednesday, the Minister of Electricity, Ziad Ali Fadhil, discussed with the Chargé d’Affairs of the US Embassy the development of the electricity system in Iraq. You know what this was all about…don’t you? It is a knee-jerk reaction from Iraq, a reaction to the Trump administration cancelling the extension of electricity purchase from Iran. Seems Iraq always needs a kick in the pants to get them moving. The question is will they finally get the grid completed. 

During the meeting, the two sides discussed the investment opportunities available in the Iraqi energy sector, the participation of American companies in electricity infrastructure development projects, and the transfer of modern technologies in the field of production, transmission and distribution of electrical energy.”

Then we find out some more TRUTHS about the electric grid issue in article titled “RUSSIA: WE WERE ABOUT TO COMPLETE IMPORTANT ENERGY PROJECTS IN IRAQ, BUT THE EVENTS OF 2004 LED TO THEIR SUSPENSION“. Oh… this is a good one too. In this news we find out from Elbrus Kotrashev, the Russian Federation’s ambassador to Iraq that Russian companies were about to complete important electricity projects in Iraq that began before 2003, especially in the energy sector,

 but the painful security events that occurred in 2004 led to the suspension of these projects and the evacuation of more than 900 Russian experts. 

He continued: “After that, there was a long interruption in cooperation due to the turbulent security situation, but we want to continue the work and complete it successfully, especially since we are witnessing the suffering of the Iraqi people due to the scarcity of electricity.

Despite these challenges, the Russian ambassador stressed that relations between Baghdad and Moscow, which date back 80 years, are still strong and distinctive at all levels. This could all be good news but didn’t Germany’s Seimans and U.S. General Electric also take on contracts to help resolve the electric grid situation? 

Isn’t that what we read? What happened to their efforts? We read Iraq allocated billions just years ago to complete it? Did they also pull out due to terrorists attacks? Just asking…..

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

MZ: They told us in 2023 that when the Arab summit returned –the dinar would have a new value! #iqd