The Parliamentary Economy hosts the governor of the central bank to discuss controlling the exchange rate of the dollar
08-13-2023
The Parliamentary Economy hosts the governor of the central bank to discuss controlling the exchange rate of the dollarToday, Sunday, the Parliamentary Committee on Economy, Industry and Trade, chaired by Representative Ahmed Salim Al-Kinani and in the presence of the members, announced hosting the Governor of the Central Bank, Mr. Ali Al-Alaq, to discuss the bank’s procedures to address the rise of the dollar and the mechanism for controlling the exchange rate against the Iraqi dinar.
The media office of the head of the Parliamentary Committee, Representative Ahmed Salim Al-Kinani, stated in a statement that the committee also discussed with the governor of the Central Bank the issue of the financial reserve and the electronic platform for foreign transfers.
The committee affirmed, according to the statement, that it stands with the government side and the Central Bank in the mechanisms taken to deal with the exchange rate, indicating that there are international standards that the Central Bank operates in that it cannot bypass and work hard for the stability of the exchange rate and control of outlets and currency speculators and illegal trade.
dijlah.tv
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Al-Fateh: The Iraqi delegation delivered important messages to Washington regarding their fate in Iraq
8-13-2023
Al-Fateh - The Iraqi delegation delivered important messages to Washington regarding their fate in IraqInformation / Baghdad..
On Sunday, the leader of the Al-Fateh Alliance, Hamid al-Musawi, confirmed the success of the Iraqi delegation in delivering important messages during its visit to Washington, noting that the delegation informed the American side of the need to leave Iraq.
Al-Musawi said in a statement to Al-Maalouma, “All political forces and resistance factions support the sovereignty of Iraq and demand the government to end the expulsion of any foreign forces from Iraq.”
He added, “The Iraqi delegation informed America that Iraq is still adhering to the demand for the removal of every military soldier.”
He pointed out that “America turned to the decision to end its military presence in Iraq, and it insists on the protection of advisers and experts by the international coalition at a time when the Iraqi government opposes those decisions.”
The former military advisor, Safaa Al-Aasam, revealed, in a statement to Al-Maalouma, that the Iraqi delegation refused to open any dialogue with Washington regarding requests to dissolve the popular crowd, indicating that the delegation paved the way for an important visit of Prime Minister Muhammad Shia Al-Sudani to America.
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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. Praying for our miracle to manifest this week!
Member: Anticipation! I just know that MarkZ is gonna have some great news for us this morning.! something to look forward to in the next several days........ like that old Heinz Ketchup commercial
Member: August 14, 1945: Imperial Japan unconditionally surrenders. Truman declares W.W.2 over.
MZ: Today will be short. Tonight may be live or recorded.
MZ: No negative news over the weekend….the only negative thing was Nader talking about the clean up was slowing down and he was worried with the corruption things were going to take a long time.
Member: Nader said, corruption slowed down RV IQD no budget no HCL?
Member: Stopping corruption in Iraq is like trying to stomp out a gas fire with your feet
MZ: Remember these are the same stories we saw before the RV is Kuwait…The same stories we saw in China….the same stories we historically see before any revaluation of any currency in the last 100 years
MZ: Could it be a little longer? It could but I don’t think so….they are desperate and need the rate. .
Member: MilitiaMan had a new good video late last night
MZ: Yes…the militiaman video was very positive and he is talking about those cleanups…
MZ: Mountain goat did a solid release this weekend…...
MZ: (From Dinar Guru) Mnt Goat the BIG, BIG news...I quote- “the technical advisor to the Prime Minister, Muhammad Sahib al-Darraji, confirmed that Iraq did not actually come out from under Chapter Seven, indicating that the Federal Bank controls the dollar.” Actually “officially”...Iraq has been “fully” released out of Chapter VII. So why does this advisor say otherwise? ...the US won’t let Iraq get out their control of the billions of dollars of oil revenues flowing through the NY Chase Bank. That is really the issue...So, what situation does this put us in for getting the RV? Common sense dictates that the US will have to let go eventually and allow the full impact on Iraq of getting out of Chapter VII and freeing up their oil $$ under their control once again. The mere fact that we are seeing an article like this one tells us the pressure is building to let go. This may take some actions from the UN to force the US to let go. They will also have to let go of OFAC sanctions on the dinar, which are still be imposed on it. If the constitution is fully implemented and the Pillars of Financial Reform are completed, we may see the RV and the Reinstatement.
MZ: So waiting for Iraq to come out of Chapter 7….our US Treasury and Federal Reserve is still controlling their finances…..The mere fact we are seeing articles like this…..the pressure is building to let go……I am hearing this is imminent…..The US is running out of excuses to manipulate and control.
MZ: That is why Iraq has been dotting I’s and crossing t’s to remove any question …The world trade organization , World bank and the UN is not pressuring the US to let Iraq move forward. There is a lot of drama that surrounds an event like this.
MZ: We are expecting a very busy week between now and the 20th….
MZ: Zero news on CMKX….nothig new on Bolivar or rial…..save you all the trouble of asking.
Member: Rod Steel suggest the Iraqi Dinar will come out within a nickel of the current Kuwait currency value.
Member: I could deal with being a nickel away from Kuwaiti dinar
Member: Talked about group 3 Bond ppl 1st in line…. Native CMXK, Church groups, Indians, Prosperity Programs…Says a change…. All gonna go at the same time… No longer do those folks have to be paid first
Member: That makes sense to have a shotgun start….that way bad guys wont have warning…..it will just happen.
Member: We have never seen an RV…so how do we know what to expect?
MZ: We have seen RV’s (Re-Valuations) . We may not have seen a world-wide event…but there have been many RV’s. We saw one in China in the 90’s….We saw Kuwait go through one in 91….in the 1970’s we was Iraq go through one….After world war 2 we saw Japan go through this….We have seen Germany go through this twice….once after world war 1 and once after world war 2. This is not unprecedented.
Member: Is it just me or others losing the excitement of the RV? It’s just the same thing over and over without results. 5+ yrs and I’m wore out.
Member: Anticipation fatigue is real…..and its exhausting.
Member: Thoughts become things….extraordinary things happen if you believe.
Member: We are watching History being made!
Member: Mark, thanks as always for all you bring to this community
Mod: SEE YOU AT 7:00PM EASTERN TONIGHT EVERYONE
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.
Government spokesperson says budget release will counter dinar depreciation
Shafaq News/ The Iraqi government hopes that the scheduled release of budgetary funds next month might trigger currency stabilization, a government spokesperson said on Sunday.
This comes amidst an undercurrent of currency speculators leveraging strategies with origins tracing back to the 1990s to manipulate the foreign currency market.
Government spokesperson Basim al-Awadi, in a statement to Shafaq News Agency said, "The budget's release ensures the availability of funds, raising liquidity channeled towards ministries, general directorates, independent entities, and all state institutions."
"Numerous financial advisors in the government anticipate that the inflow from the budget could serve as a significant catalyst in decreasing the dollar exchange rate substantially."
He attributed the recent hike in exchange rates to the decision of barring 14 Iraqi banks from U.S. dollar transactions, observing a detrimental reflection of this move in the market. This, coupled with the savvy performance of currency speculators, created a volatile financial landscape. "These currency speculators possess extensive expertise since the 1990s, operating with remarkable dexterity and subterfuge," he added.
"For the past five months, our measures have been transparent. While the exchange rate oscillates, the government remains resolute in its strategies, operating in tandem with the Central Bank's blueprint."
Contradicting government optimism, economic experts speculate that the dollar rate could stabilize in parallel markets at levels surpassing 150,000 dinars for every 100 dollars. Despite recent endeavors, the Central Bank of Iraq has struggled to rein in the parallel currency market and recalibrate the exchange rate to the official figure of 1,320 dinars per dollar.
Al-Awadi concluded, emphasizing the government's legal adherence, "We deal with dollar speculators according to the law, necessitating legal measures spearheaded by economic security and state agencies in this direction."
Al-Sudani announces dialogues to determine cooperation with the international coalition: We do not need foreign combat forces
The Prime Minister of the Armed Forces, Muhammad Shia’ al-Sudani, announced on Monday that advanced dialogues would determine the form of future relationships and cooperation with the United States-led international coalition, emphasizing that foreign combat forces were unnecessary.
During his meeting, the Agency received a statement from leaders and commanders of the armed forces who helped defeat ISIS and liberate Nineveh Governorate from its control.
The Armed Forces’ commitment to professionalism, constitutionalism, legalism, development, security, peace, and decent life for all Iraqis has been reaffirmed by their Commander-in-Chief. The Armed Forces will continue to follow their professional, constitutional, and legal path in the process of development, security, and civil peace, ensuring the protection of a decent life for all Iraqi people throughout the country.
Al-Sudani stated that the battle to liberate Mosul was important, especially since it was believed that the mythical state would win and Iraq would fall.
He noted that ISIS’s deviant ideology was planned in closed circles and intended to prevail in the region, but the religious reference represented by Sayyid Ali al-Sistani and the sacrifices of Iraqis aborted the plot.
“Our battle with this terrorist group was a battle between truth and falsehood. Know the truth and know its people,” the Prime Minister said. The world recognized Iraqis as the truth, and ISIS as the absolute falsehood.
He called for preserving the work of the security establishment in accordance with the law and constitution. All political forces must make this commitment within the political agreement that formed this government, which was voted on by the House of Representatives.
He emphasized that Iraq does not require foreign combat forces anymore and they are having discussions to decide on the future relationship and cooperation with the international coalition.
After the Iraq war, sectarian violence and division prevailed, but now Iraqis are more united than ever before according to him.
Al-Sudani emphasized the importance of reviewing all plans and preparations to maintain readiness for any potential terrorist activity. He stated that the battle facing them is one of stability, development, and prosperity, which is not an easy task.
The prime minister advised the armed forces’ commanders to prioritize the welfare of the families of the martyrs. He emphasized the importance of all officials, including the speaker, doing the same. He also emphasized that every military rank is crucial in ensuring institutional security and achieving victory while maintaining security.
He emphasized that security and stability are crucial for citizens and the government. He added that development must prioritize maintaining stability and upholding the law, creating an environment where state institutions and citizens can carry out plans and policies related to services and development.
LATEST RATES ESTIMATED: QUOTES THE ANTICIPATED OPENING RATES BECAUSE WE DON’T KNOW HOW HIGH THE RATES MAY GO BASED ON FOREX AND OR YOUR ABILITY TO NEGOTIATE A HIGHER RATE — MOST RECENT ANTICIPATED OPENING RATES — DONG .47…DINAR 3.81…
MarkZ
[via PDK]
Question: Is it true dong could go as high as $3.00 rate.
MarkZ Answer: There are a lot of rumors that the dong could go at $3.00 per dong. When I first started I was hoping for .36 cents. I was told recently about $2.25…but as of late…many of my banking folks say about $3.00. This would be just huge.
Frank26 (KTFA)
New exchange rate equals sovereignty…it’s not a secret. Everybody knows.
It sure seems like the key to everything is in the relationship between Baghdad and Kurdistan because that relationship agreed to open up the budget, agrees on HCL, agrees on Article 140, agrees on the oil right and without a doubt agrees with everything concerning monetary reform. They have exemplified that to Sudani.
If you’re trying to buy widgets at 1310 dinar to a dollar you can’t get very many widgets…Once they change the value of their currency to reflect the Real Effective Exchange Rate things become a lot cheaper for Iraq especially if they have the backing to prove they have…oil, gas, natural resources, tourism – all those things…they can easily meet a similarity to Kuwait. They’re a bigger country, they have more assets…They have everything going for them…they’re definitely undervalued at this time.
The Oil and Gas Law…they keep saying they’re going to have things done. I believe these guys have already done almost all the leg work…
Article quote: “they’re in very advanced steps in accelerating the legislation of the oil and gas law…”
They’re basically saying we’re going to approve the law end of story. That’s phenomenal…
Article: “The dinar is in the central recovery rooms.. and accusations against the Americans of creating crises”
Quote: “…The National Currency requires elaborate measures to maintain strength in value internally and externally, on the basis of the measures to be taken will activate the private sector and expand the import and reduce exports.”
I may have this wrong, but, to build out the country, they need to do just as it is being stated. They need to take extreme measures to get the imports increased and the exports reduced.Why? Because, it is far cheaper to re-build the country with strength in the national currency. It is the foremost item that is now needed.
