Friday, October 6, 2023

Iraqi Dinar Forex and International Recognition | Article VIII Complianc...

"A Call For An Emergency Plan"... The Dollar In Iraq Is Entering A Dangerous Turning Point And An Unprecedented American Decision, 6 OCT

"A Call For An Emergency Plan"... The Dollar In Iraq Is Entering A Dangerous Turning Point And An Unprecedented American Decision

Baghdad Today – Baghdad   Professor of International Economics, Nawar Al-Saadi, said on Thursday (October 5, 2023), that the US Federal Bank refused to provide the Iraqi Central Bank with one billion dollars in cash, “a dangerous precedent that must be taken seriously by the Iraqi government.”

Al-Saadi said in a post on his Facebook page, “Enough of the drumming by the economists who drum on the channels day and night and claim that the dinar is strong and that there are strict measures.”

He added, "Now the trust between the Iraqi Central Bank and the (American) Federal Reserve has deteriorated. The Americans cannot tolerate procrastination and prevarication any longer."

Al-Saadi stressed, "An emergency plan and comprehensive reforms must now be announced in cooperation with the Ministry of Interior to control speculators in the market, control borders, and prevent currency smuggling, otherwise undesirable consequences will happen."

"A call for an emergency plan"... The dollar in Iraq is entering a dangerous turning point   PIC

One of the advisors to the government of Muhammad Shiaa Al-Sudani had previously revealed that “the United States of America warned the Sudanese government eight times, publicly and clearly, against the continued sale of the dollar in large quantities through the currency auction window of the Central Bank.”

He said that the American side "has provided ample evidence that the majority of buyers of the dollar are smuggling it to Iran, Syria and Lebanon," explaining that "this sale led to the monopoly of the dollar among merchants, and a decline in its presence in local and private banks."

Last February, the Central Bank of Iraq decided to raise the value of the official exchange rate of the dinar against the dollar by 10 percent in a measure aimed at reducing the devaluation of the currency that accompanied the adoption of more stringent regulations regarding financial transfers outside the country.

The government then agreed to the Central Bank’s proposal to raise the value of the exchange rate from about 1,470 dinars to 1,300 dinars per dollar, which had a clear impact on the exchange market at that time by reducing prices that reached the level of 1,700 dinars in the parallel market.

For several months, the value of the Iraqi dinar has fluctuated sharply, losing on some days 15 percent of its value against the dollar, which sparked sporadic demonstrations by Iraqis worried about losing their purchasing power.

What made things even more unclear was after Reuters quoted the Director General of the Investment and Transfer Department at the Central Bank of Iraq, Mazen Ahmed, as saying that Iraq would ban cash withdrawals and transactions in US dollars starting from the beginning of next year and not immediately, a step that was interpreted by some experts as a “delay.” “For depositors if they want to withdraw their money.

However, the central bank official quickly issued a clarification regarding his statements to Reuters, saying that they “included inaccurate journalistic formulations.”

 He said in a statement published on the Central Bank of Iraq's Facebook page, "The Central Bank guarantees dollar deposits, and the citizen who deposited his money in dollars with any Iraqi bank previously or by 2024 has an inherent right to receive these amounts in cash and in dollars."

He pointed out that the date of next January 1 “will be the beginning of stopping cash withdrawals for incoming remittances only from outside Iraq, according to certain arrangements that guarantee the sustainability of business and does not in any way include citizens’ balances in dollars.”

Independent MP in Parliament Hadi Al-Salami says, “The current failure in the dollar issue is borne by all the Iraqi governments that have ruled the country since 2003 until now. The government of Muhammad Shiaa Al-Sudani pledged to solve the crisis by establishing mechanisms to prevent the smuggling of hard currency, but it did not succeed in doing so.” This file."

He pointed out, "Reforming the banking system and the dollar crisis requires controlling the currency auction, which is still selling large amounts of dollars, and we do not know where it is going," noting that "the problem is big in Iraq, and we are facing huge challenges that may lead to a crack in the current system." Especially since the United States of America has warned many against smuggling the dollar to neighboring countries.”    Source: Baghdad Al-Youm + Agencies   LINK

The Dollar Crisis Is Worsening In Iraq: Quarrels Within Private Banks, 6 OCT

 The Dollar Crisis Is Worsening In Iraq: Quarrels Within Private Banks

Posted On2023-10-06 By Sotaliraq    Iraqis who have accounts in private banks complain of the inability to receive their money transfers that reach them from abroad in hard currency, even though they have contracts for their salaries, official books, and documents related to their companies and interests, while banks refrain from delivering dollars to Iraqis under the pretext of a government decision prohibiting the circulation of the dollar and dealing in the dinar.

Iraqi only, what observers consider the beginning of an economic crisis and a new global isolation for Iraq.

The Iraqi Council of Ministers issued a decision, last April, obligating all companies and banks to use the dinar only in their transactions, including the salaries of employees of foreign companies, which were in dollars and paid in dinars, and the official rate is 1,320 dinars, with the exception of diplomatic missions, which are paid in dollars, and in turn the bank The Iraqi Central Bank circulated this decision to the Iraqi banks to adhere to it, which implemented the decision and forced companies to receive all their incoming transfers in dinars and at the official rate, knowing that the exchange rate of the dollar in the markets is close to 1,600 Iraqi dinars.

Representative and member of the “Al-Basas” coalition, Hussein Arab, published a video clip on his account on the “X” platform (formerly Twitter), showing Iraqis angry that they had not received sums of money allocated to them in dollars, but the banks were refraining from giving them dollars.

He wrote: “The acquisition by a non-local private bank of the amounts of financial transfers via the electronic dollar platform, estimated at 70% of Iraq’s transfers, is abnormal and disastrous. We will have a clear position on manipulating the fate of the country’s economy. We will not remain silent.”

For his part, the independent representative in the Iraqi parliament, Hadi Al-Salami, said, “The current failure in the US dollar issue is borne by all the Iraqi governments that have ruled the country since 2003 until now, and the government of Muhammad Shiaa Al-Sudani has pledged to solve the crisis by establishing mechanisms to prevent currency smuggling.” It was difficult, but it did not succeed in this file.”

Al-Salami added, in an interview with Al-Araby Al-Jadeed, that “reforming the banking system and the dollar crisis requires controlling the currency auction, which is still selling large quantities of dollars, and we do not know where it goes,” noting that “the problem is big in Iraq, and we are facing challenges.” Huge amounts that may lead to a crack in the current system, especially since the United States of America has often warned against smuggling the dollar to neighboring countries.”

According to an advisor to the Sudanese government, “The United States of America warned the Sudanese government eight times, publicly and clearly, against the continued sale of the dollar in large quantities through the currency auction window of the Central Bank, and it provided ample evidence that the majority of buyers of the dollar are smuggling it to Iran, Syria, and Lebanon.”

 He explained to Al-Araby Al-Jadeed that “this sale led to the monopoly of the dollar among merchants, and its presence in local and private banks declined.”

Reuters also quoted the Director General of Investment and Transfers at the Central Bank of Iraq, Mazen Ahmed, as saying that “Iraq will ban cash withdrawals and transactions in US dollars as of January 2024,” considering that “the ban is the latest campaign to limit the misuse of Iraq’s currency reserves.” Hard currency in financial crimes and evading US sanctions on Iran.”

But the researcher in economic affairs in Iraq, Wissam al-Jubouri, pointed out that “the government’s continued failure to deal with the dollar file, and depriving Iraqis of receiving their salaries and managing their economic and commercial affairs, is pushing them to leave Iraq, and will lead to discouraging financial transfers from abroad in the future.” .

He confirmed to Al-Araby Al-Jadeed that “all recent government decisions are in line with smugglers, and do not serve the Iraqi economy. Rather, they lead to weak financial dealings between Iraq and the countries of the region and the world.”

Earlier, American officials confirmed that Washington had imposed sanctions on 14 Iraqi banks by preventing them from conducting transactions in dollars, as part of a comprehensive campaign to combat the leakage of American currency to Iran, considering that banks and exchange companies were able to achieve huge profits from their transactions in dollars, through the use of operations. Fraudulent import.

The US sanctions included the banks “Al-Mashashar, Al-Qartas, Al-Tayef, Elaf, and Erbil, in addition to the International Islamic Bank, Trans-Iraq Bank, Mosul, Al-Rajeh, Sumer, Al-Thiqah, Or, Al-Tayef, Al-Alam, and Zain Iraq,” and according to Iraqi sources, these banks are affiliated with religious parties, militias, and armed factions loyal to Iran.

Over the past years, an average of $170 million was sold daily through what is known as the dollar auction, in which merchants, banks, and companies participate, without monitoring the end of that money, which is classified as import trade for the local market in most cases, or foreign transfers, knowing that The actual need for dollars in the markets and among merchants does not exceed $50 million per day, according to experts.   LINK

Iraqi DinaršŸ”„Iraq Is Getting Ready To Be Underway Everybody Pretty Happy ...

Coffee with MarkZ and Mr. Cottrell. 10/06/2023

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ Friday Update- 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 everyone…Happy Fri-yay

Member:  3 day weekend - Columbus Day - c'mon RV!

Member: Is Monday our day??

MZ:A lot of my sources feel that Monday is our day…..A lot of them …actually they think our day is before that and Monday is when we start going to the bank!  They are all expecting big things this weekend.

MZ: I am hesitant to say if it’s a “go” or “not a go” just yet. But I am excited about the potential. 

MZ: There is nothing negative at all. 

MZ: More chatter on the Iraqi side of things with great expectations for the weekend. Most are looking Late Saturday/early Sunday for something from Iraq. Some type of announcement??

MZ: I was hoping to have an update from redemption center folks…..no update yet this morning as to whether they expect to work this weekend. I have been hitting a brick wal…..their phones seem to be turned off…..I don’t know if that is a great thing or a coincidence. 

MZ: Yesterday a number of them told me they are on “stand by” specifically for currency exchanges. I think this is huge.   Let’s see if something comes of it. 

MZ: I don’t expect a lot of chatter until maybe tomorrow…..most likely on Sunday. I will stay very fluid ….I am not planning on a podcast tonight unless there is news…..but expecting it to be a busy weekend. 

Member: If Iraq goes on Saturday – what is the timing-ish for tier 4b in currency?

MZ: Let’s entertain the thought that Iraq may go on Saturday. Probably what we would see are call centers working over the weekend to make our appointments…and appointments starting on Monday….that the most likely scenario.  

Member: The day we get the exchange instructions…will you do multiple broadcasts?

MZ: Yes….If it goes…I’m coming on .I’ll be wearing a golden hat , holding a golden egg and maybe dancing a little jig. 

Member: MilitiaMan says maybe Sunday for Iraq. 

MZ: That would certainly fit with most of the rumors I am getting out of Iraq as well. 

Member: Dinar Recaps said in the past that they will have fireworks at the top of their site when it happens. 

Member: I don’t understand about banks being on standby when the Forex closes today at 5 and doesn’t open again until Sunday at 5 eastern. Monday is a holiday.

Member: To me that means we exchange before its announced to be on forex….works for me. 

MZ: “Iraq central banks taking steps to reduce parallel market rate of the dinar”  They even reference for when they can no longer do US dollar withdrawals by Jan 1st, 2024

Member:  ?? why would Iraq want a Billion U.S. dollars if Iraq is going to RV their own currency?

Member: That makes no sense to me either

MZ: “ 5 financial storms on the horizon”  Many main stream economists are finally catching on to what we have known for years. 

MZ: Another bank in trouble…this one is in the UK “ Metro Bank shares plunge on fund raising reports”  We are seeing the same thing happening in the US. 2023 has already seen 4 banks fail. 

MZ: “US debt spiral is reaching terminal phase-Economic reset is the only way out”  More and more economist’s are now calling for the same thing…..a reset…..we have painted ourselves into a corner. We know it’s coming and a reset is our way out. 

Member:  MM said that a contact of his said that banks would be offering new currency Oct 1st and that they had been training for the last 2 years. Guess that didn’t happen yet?

Member:  Our bank "old national " just added the title "wealth management " to thei name... Interesting.

Member: Are you still going to Puerto Rico on Sunday Mark?

MZ: Yes…even if it goes on Saturday I think I will go…..I still have currency there. I would be calling my buddy who flies corporate jet charters and then fly to my appointment. My return to the US might be on the same day I go to PR…..we shall see. 

Member:  IT'S FRIDAY A BEAUTIFUL DAY AND THE START OF THE WEEKEND!!!"Don't be pushed around by the fears in your mind. Be led by the dreams in your heart." Protect your peace!

Member:  Tuesday is October 10th…. 10- 10?!

Member:  Sure hope this is the week I get to turn in my 2-weeks notice!!!

Member:  I anticipate a real blessing this weekend ! My heart is full of gratitude

Member:  Have a great blessed weekend everyone

Member:  Mark thanks for all you do and information

Mr. Cottrell joins the stream today. Please listen to the replay for his opinions and information 

THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IS MARKZ ’S OPINION ONLY.

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

MARK’S TELEGRAM ROOM FOR WORLD NEWS EVENTS & CHAT? LINK: https://t.me/TrollingNews_telegram

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics. 

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 6 OCT

 Frank26 (KTFA)


[Boots on the ground SuperGirl in Erbil Update]

I spoke with Dyaa and his family, so far no one has received anything nor have they heard anyone receive anything concerning the HCL…

FRANK: We are hearing it from many sources but we believe they are just rumors.  They mentioned they may be doing traunches but we have not seen any evidence of it yet.

We see the evidence of the financial international transactions on the 28th.  We see the private banks opening with Aki [Guru Walkingsticks Iraq bank friend in the US- October 1st]. We see Independence Day [Tuesday October 3rd]. The only thing we’re not seeing is the HCL.  Why?  Let me ask you something.  Did they release the new exchange rate?  No.  What did I tell you?  The moment you see the HCL in the next nanosecond you will see the new exchange rate…

[Iraq boots-on-the-ground report]

FIREFLY: We are celebrating our independence and being a sovereign country...Sudani…talking about how we will not allow others to rule over us…  FRANK:  Congratulations…your country is now restriction free…You are a sovereign country…Your country is secure and stable…These are the two magic words Dr. Shabibi the author of your monetary reform plan wanted before he released the new exchange rate and new currency.

Iraqi Dinar Forex and International Recognition | Article VIII Complianc...

What else is in the news? BY MNT GOAT, 9 NOV

What else is in the news? šŸ˜ŠI want to bring your attention to an article titled “ ICC CREATES IRAQ ARBITRATION CMTE TO BOOST FOREIGN INVESTM...