How to Profit as Stocks Fall, 16 AUGUST

 Chris’ note: Stocks are taking a bath again today. That’s down to another hawkish speech on rates from Fed chairman Jay Powell. It’s more bad news for buy-and-hold investors. But it’s great news for traders.

As I’ve been showing you, traders look forward to days like today. That’s because they can profit as stocks rise or fall. And they can be in and out of a trade in days.

It’s all in today’s insight from Market Wizard Larry Benedict. He made $95 million for clients of his hedge fund in 2008. And last year, as another bear market raged, he gave subscribers of his One Ticker Trader advisory the chance to close out the year up 240% on cash.

What’s his secret sauce? Read on to find out…

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Most folks think you can only profit on stocks in bull markets.

But as I’ve been spreading the word on, that’s not true.

Although buy-and-hold investors need rising stock prices, traders can profit in either direction. 

The big gains usually come when stocks drop… And we see more of those drops during bear market conditions like we’re living through today.

For instance, this year I’ve given my subscribers the chance at returns of 39% and 54% closing out trades on a falling Nasdaq.

I know this is new for a lot of people. So today, I’ll show you how I gave my subscribers the chance to close out a 62% gain in just a week as one of the world’s biggest stocks took a dive.

It’s a classic example of the “mean reversion” trades I love to make.

Playing the Snapback

Stocks tend to revert to their long-term average after they make dramatic moves.

So, I look for stocks that have overshot in either direction… and profit when they snap back toward their average.

That’s what happened to blue-chip tech stock Microsoft (MSFT) after it overshot to the upside last month.

Take a look…

From early January to its peak in February, MSFT rallied 26%. But as it reached a new high (upper orange line on the chart), I could see its momentum had peaked (lower orange line).

That’s thanks to the Relative Strength Index (“RSI”). It compares the strength of a stock’s move on up days versus down days. This points to oversold and overbought conditions.

And when price and momentum diverge, a change of direction is not far away.

MSFT’s chart wasn’t the only reason it was due a fall…

False Narrative

As I’ve been showing my readers, there’s a false narrative that inflation is no longer a problem.

This has led to the hope that the Fed is about to stop hiking rates.

This would be good news for Microsoft and other tech stocks, which tend to perform best in low-rate environments.

But on February 14, the Consumer Price Index (“CPI”) reading for January came in hotter than expected.

This pulled the rug out from under MSFT… and the broader tech market.

That’s bad news if you’re a buy-and-hold investor. But it provided the perfect setup to profit from a fallin Microsoft’s share price – what’s known as a short position.

On Tuesday, February 14, I recommended subscribers of my Opportunistic Trader advisory open a short position on MSFT by buying put options. These are side bets on the movement of stocks that increase in value when the stock falls.

The stock market was closed the following Monday for Presidents’ Day. And when the market opened again on Tuesday, February 21, I sent out an alert to sell that MSFT put option, closing out the trade for a 62% gain.

I didn’t capture the entire move lower. But I’d rather book a profit for my readers and leave some money on the table than let those profits slip away… or turn to losses.

There were two reasons why I closed out that trade… 

Extra Oomph From Options

When a blue-chip like Microsoft gaps down like this, bargain hunters start to buy, pushing the stock higher.

By closing out the trade, we avoided the risk of that scenario playing out.

The other reason goes back to the chart I showed you. Here it is again…

My exit point coincided with the RSI testing support (green line). If the RSI had shot higher, it would have sent MSFT higher, too. This would have taken away some of our profits.

It’s important to note that this 62% return was from trading an option contract. Options give you “leverage” – or extra oomph – over the move in the stock price.

If I had directly shorted shares instead, the return would have been lower.

That’s the benefit of using options. You can amplify the returns you make over a short span.

And it’s why I’m so excited about my Shockwave Summit that airs tomorrow.

Circle Your Calendar for March 17

It’s all about a wave of volatility scheduled to slam into the market on March 17.

That’s bad news for many investors.

But if you know how to play these shockwaves as a trader, this volatility is to your benefit.

Just like our MSFT example, we can find points where stocks become oversold or overbought… and profit when they snap back.

To learn more… including my favorite ticker to trade in these market conditions… you can go here to sign up to attend for free.

It kicks off at tomorrow night, March 8, at 8 p.m. ET. So, clear some time in your schedule to come and join me.

That will give you plenty of time to prepare.

You can RSVP with one click right here.

Regards,

Larry Benedict
Editor, The Opportunistic Trader

https://www.legacyresearch.com/the-daily-cut/how-to-profit-as-stocks-fall/

Frank26……8-16-23....IT’S NOT A DELAY!!!

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BRUCE'S BIG CALL, 16 AUGUST

Bruce’s Big Call Dinar Intel Tuesday Night 8-15-23 

Transcribed By WiserNow

Bruce’s Big Call Dinar Intel Tuesday Night 8-15-23   REPLAY LINK   Intel Begins 1:13:00

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHXLu

Welcome, to the big call tonight it is Tuesday, August 15th and you're listening to the big call. We had a reach on last Thursday of 196 countries. That's right 196 and quite a few listeners course well over the 20 to 24 million mark think we're at 26 million 108. Oh, if memory serves me 26,million,108 listeners live to the call - and that's internationally that's globally that doesn't really include a free conference call line and replay here so good to know that we're getting out there. Hope you're part of that and listening in.

As far as the Intel goes.  This is really interesting, as I mentioned a little earlier and we're sort of that day by day situation where we've been told – we’re minutes away – this is getting ready to go -  All of these things that are banned phrases  on the Big Call now - - ha ha

Just kidding, but they could be - they're getting closer to being a banned phrase -  what we're really looking at is, things are really happening – I can’t  too deep in the weeds on this, but things have happened and started a couple of days ago - happening politically to move this thing forward - and keep the Chinese elders happy.

That's a good thing. What's going on there and you should be seeing something hopefully, coming out soon, like in the next couple of days to reflect that. But I can tell you that there are things happening in all 50 states with our martial law in seven of those states, and we've got forces ready to go – for different things. I will say this – the emphasis is on getting things done - Behind the scenes - and too, I'm just gonna say virtually eliminate the deep state in the next three to four days.

I've been told to pay close attention to what happened over the next few days. But it could be that the  action that takes place behind the scenes that clean up on aisle 3/4/5, etc that I've talked about, that may turn into becoming a cover for us going for our exchanges. We're not sure if that is the case. But it could be and I would say we would look for something to come out on the new EWS system - Emergency Wireless System, which is theoretically the confluence of the emergency Broadcasting System and the Emergency Alert System.

Not quite sure if that's totally fully integrated or not. But they use this new term EWS - emergency warning system as a way to bring out some of the information that we're looking to hear.

On a another front, we have the BRICS conference, this summit in Johannesburg, South Africa, starting at 22nd and going through the 24th of August. So that starts next Tuesday and goes through Thursday of next week.

At that conference now includes 93 member countries who are either in  or want to be part of the BRICS consortium of countries  - 93 that are all gold backed and ready to be gold back with their own currency. And also, it may be as I understand it, a new BRICS  Nation's currency.

They could be out and tradable - like the USN the American dollar will be which I'm understanding that that USN is traded now, the digitally but it needs to surface in terms of our own physical money that we put in our wallets and purses that that should be out prior to maybe two days prior which would be weird because as of Sunday, two days prior to the BRICS conference, or the BRICS summit in South Africa.

So whether or not we see that, which remember, this new currency has been out for at least a couple of years. And we had already at the redemption centers that we will be able to get some cash when we go in for our exchanges and redemption of Zim but we will also have it fairly soon in our teller drawers, but I don't know what they are going to bring that out. I'm not sure I personally I think that we need a public announcement about our new currency, which would be part of NESARA.

We are not going to be returning to the quote unquote gold standard.

But we have an asset backed that is primarily backed by gold - there's a large percentage of our dollar -  our new USN  that is backed by gold and other precious metals and oil and natural gas and other assets that are monetized for the purpose of backing our new USN. So there's a lot going on behind the scenes even now. Political change It's in the air and working and we should have evidence of that brought out so that not just I know about it. My Contacts know about it. Intel sources know about it. But when is mainstream America going to be aware of it? That's the big question.

That needs to happen. I believe for the Chinese owners to be satisfied. It's not just the behind the scenes thing. That is actually out and people are aware of it. But we'll look forward to that and praying for that to manifest itself.

Bondholders are still waiting their email notifications to give them access to funds that they would receive those today have access tomorrow. So far by time is call it on I don't have any indications that has occurred yet today.

And there I'm sure that there's anxious to get access to their funds as we are they get access to our exchange opportunities with our appointments and so on. So I think the next two to three days we're going to be really significant if we go this week.

Now, the other thing that is in play, believe it or not, is Iraq. Iraq is still saying they're going to put out a new rate and open their budget and pull it out  in their gazette -  possibly tomorrow -  which is  Wednesday – good printing day, or they might wait until Saturday and and the so called HCL the hydrocarbon law the oil and gas law has been called which has been passed a long time ago – would be implemented with the new rates with a new rate on the Iraqi dinar.

And that law determines what percentage of the oil profits and gas profits in Iraq are distributed throughout the country, especially into the region of Kurdistan because that was always a big point of discussion, whether that was going what percentage they would get, and I don't remember the percentage that they agreed upon - So I don't want to put that out.

 But that is that has been agreed to. It's just a matter of implementing that law and getting those monies sent to the proper places within the country.

So that's something we could wait all the way on Saturday for but possibly it could come out tomorrow or it could be printed in a special edition if you will, of the Gazette. Maybe before Saturday for that matter. But what it looks like is happening is these  cleanup and arrests and political things, all this stuff is going on right now -  should bring us to a point to the point where everybody is satisfied and we can move forward with our notifications by email us and then we call and set appointments and they say we go on our exchanges and redemption of zim.

So that's a lot to look forward to and it could occur this week or early next week. However, we understood that we would have this and have our USN out – if you will -  as part of NESARA before the BRICS summit starts Tuesday in South Africa.

Sort of a self imposed. Not going to use the banned  phrase “back wall” but it's self imposed timeframe where it should occur prior to that summit –

So today is Tuesday, the 15th - we could see some action here the next couple of days. It might drag on to early next week. But some of its going to depend on what happens you know when intel sources tell us wait to see what happens.

Wait to see. Well, we've been waiting to see a lot and we want to see these changes implemented. I assure you things are definitely happening behind the Scenes politically and with our military.

Everything's moving. They're just gonna let us know when they feel like they want us to know. That’s really what it amounts to

In the meantime.

We'll see what happens. We literally don't have anything other than a large window. By the end we are by the weekend because of what Iraq is supposed to do by Saturday. So it could be all the way to Saturday. But you know the weekend goes sometimes I'll say well, okay, let's just start first of the week. So you never know. This thing could pop they might surprise us. And that happens with what is going on currently as we speak behind the scenes.

I can tell you that on the time on the big call tonight. They call it in process. Everything started a massive effort to remove that activity.

So that's going to be ongoing for at least a couple of three days, maybe more. So that's what I wanted to bring to you guys. So let's do this. Let's pray the call out and then we'll see what the next couple of days or three days brings for us.

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THE US TREASURY IS MANIPULATING THE FATE OF THE PEOPLE, 16 AUGUST

 CONCERNING THE DOLLAR CRISIS.. AL-FATEH: THE US TREASURY IS “MANIPULATING” THE FATE OF THE PEOPLE

Today, Saturday, a member of the Al-Fateh Alliance, Ali Al-Zubaidi, accused the US treasury of manipulating the fate of the people by deepening the crisis of the dollar’s ​​high exchange rate in the local market, while stressing that Iraq needs to achieve economic independence away from US hegemony.

Al-Zubaidi said, in an interview with Al-Maalouma Agency, that “there is no fairness in continuing to deposit the country’s money in the US Federal Bank,” noting that “Washington lacks a lot of credibility in the treaties and charters that are agreed upon.”

And he continued, “Iraq will end the dollar crisis if it gets rid of the hegemony imposed by the United States of America on the money for selling oil,” pointing out that “the American treasury continues to manipulate the fate of the people by deepening the crisis of the high exchange rate of the dollar in the local markets.”

Al-Zubaidi went on: “Washington verbally imposes Chapter VII restrictions on Iraq in order to achieve its own interests,” adding that “the country needs to achieve economic independence away from the American hegemony perched on Iraq’s chest in many files.”

(This last statement backs up what I said ealier in my recent past newsletter in that Iraq is “fully” out of Chapter VII. All the US can do now is pretend and continue as if the sanctions are still in effect, which they aren’t. So something has to change and soon.)

Member of Parliament Kazem Al-Touki said, in an interview with Al-Information Agency, that “the measures taken by the Central Bank did not withstand the decisions of the US Treasury regarding the dollar, while he stressed that the sanctions that the US Treasury continues to impose will not allow the stability of the exchange rates of the dollar in the local markets.

(WOW this last statement I underlined says it all. Are we finally getting to the TRUTH as to why the reinstatement has not yet occurred? Like the prophets said that 2023 would be a year of exposure and Iraq is surely having its share of it. Can you now see how POLITICS can affect the RV?)

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PARLIAMENTARY FINANCE: CENTRAL MEASURES FAILED TO CONTROL THE DOLLAR

A member of the Parliamentary Finance Committee, Muhammad Nuri, confirmed, on Saturday, the failure of the central bank to control the exchange rate of the dollar against the Iraqi dinar.

Nuri said in an interview with Al-Maalouma agency, “The gateway to smuggling currency is still continuing by the parties and their banks, with the increase in the sale of the dollar by the Central Bank of Iraq.”

He added that “the central bank’s policy towards the dollar has not succeeded so far,” noting that “the central bank does not have serious and real solutions to control the exchange of the dollar.”

Nuri pointed out that “the dollar file is still outside the control of the Central Bank due to the control of some external and internal parties by the decision of the Central Bank.”

A member of the House of Representatives, Amir Al-Mamouri, confirmed earlier that the currency auction has become a front for draining the dollar and making profits from corrupt money, pointing out that the file to solve the dollar crisis has not made any progress.

(I have already talked about the type of funds allowed paid in dollars that sneak through and why the CBI is allowing them. This is a wrong decision on the part of the CBI, Eventually they will learn to use only EBT cards to fund these types of expenditures. These EBT cards MUST not be redeemable for cash and can be used like a debit card only. They must be issued by the banks inlou of cash. Oh…did I just give you a solution? Why can’t the CBI see it? I have told this solution to my CBI contact in Iraq. I hope they run with it? Let’s see how this idea pans out.

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IRAQI POST PROGRESSES TO THE YELLOW MARK IN THE INTERNATIONAL CLASSIFICATION

The Ministry of Communications announced that the Iraqi Post has progressed from the red mark to the yellow one in the classification of the Universal Postal Union.

A statement by the ministry, received by Al-Masalla, stated that the Iraqi Postal Service, with direct support from the Minister of Communications, Hayam Al-Yasiri, was able to change its classification in the Universal Postal Union’s monthly compliance panel from the red mark to the yellow mark during the past few months.

He added: As the plan indicated an increase and change in the performance of the mail in terms of processing speed and complete collection of customer information, through the obligation to send the contents stipulated by customs and mail.

(yet just more positive progress for Iraq moving in to the 21st century )

"ONLY INTEL" BY BRUCE ( SPANISH & ENGLISH), 16 AUGUST

 BRUCE

15 agosto 2023

SOLO INTELIGENCIA

DONDE ESTAMOS AHORA ESTA SEMANA???

En lo que respecta a la información, es día a día, a minutos de distancia y listo para usar, prohibido en la llamada jajaja, las cosas realmente están sucediendo, sucedió hace un par de días para mantener felices a los Ancianos chinos y deberíamos ver algo en el próximo par de días para reflejar eso. Y las cosas que suceden con la ley marcial y listo para funcionar. El énfasis está en hacer las cosas detrás de escena y eliminar virtualmente el DS en los próximos días, pero podría ser que la limpieza en el pasillo sea una tapadera para nosotros, no estamos seguros, pero podría serlo, y buscaríamos en el EWS, que es el EAS/EBS, no estamos muy seguros de si está completamente integrado o no, pero están tratando de resaltar esto con el nuevo sistema.

En otro frente, la conferencia BRICS del 22 al 24 del próximo martes a jueves y que ahora incluye 93 países miembros o que quieren ser parte de BRICS, todos respaldados por oro con sus propias monedas y también una nueva moneda de las naciones BRICS y negociable como el nuevo USN cotiza ahora digitalmente y eso debería estar disponible antes de la cumbre BRICS, ya sea que veamos o no eso y este nuevo USTN ya en el RC y deberíamos poder obtener algo en el intercambio y creo que necesitamos un anuncio sobre este nuevo moneda que es Nesara - y tenemos moneda respaldada principalmente por oro y otros activos. Por lo tanto, están sucediendo muchas cosas detrás de escena: el cambio político está en el aire y el trabajo, y deberíamos tener evidencia de eso, no solo que Bruce lo sepa, sino cuándo MS America lo sabrá, y esto es lo que los ancianos chinos deben saber. saber y que la gente sea consciente.

Los tenedores de bonos todavía están esperando esas notificaciones, hasta ahora eso no ha sucedido todavía, y estoy seguro de que están tan ansiosos como nosotros y los próximos dos o tres días van a ser significativos, la otra cosa en juego es Irak. y sigo diciendo que publicaron la nueva tasa y en el Gazette mañana o el sábado y la HCL pasó hace mucho tiempo y debería implementarse con la nueva tasa y especialmente para Kurdistán, no recuerdo el porcentaje pero se acordó.

Entonces, algo que podría salir mañana o en una edición especial antes del sábado: estas limpiezas, arrestos y cosas políticas deberían llevarnos a un punto en el que todos estén contentos y podamos avanzar con nuestras notificaciones para hacer nuestros intercambios y Zim Redemption. podría suceder esta semana o la próxima y, sin embargo, entendimos que tenemos esto y el nuevo USN antes de que los BRICS comiencen el martes en Sudáfrica, una especie de marco de tiempo en el que debería suceder antes de esa cumbre, por lo que hoy 15 y podríamos ver acción este o a principios de la próxima semana, ya sabe cuándo las fuentes dicen que espere a ver, y hemos estado esperando ver mucho, pero las cosas definitivamente están sucediendo militar y políticamente y recibiremos esas notificaciones cuando el Tesoro lo diga, y ahora Bruce va a hablando de Sue y sus programas.

Así que estoy pensando que eso es todo lo que Bruce tiene para la información de hoy. Por supuesto, agradecerá a todo su equipo Sue y Bob y GCK y al pastor Scott y Jeannie y Larry y, por supuesto, a todos los fieles oyentes de todo el mundo. Y, sin duda, como de costumbre, orando el llamado, así que únase a Bruce en esa oración y siga orando hasta que finalmente veamos esta bendición milagrosa completada y manifestada en nuestras vidas: ahora todo el mundo lo necesita desesperadamente. - Maui me viene a la mente al instante: cuánto habríamos podido ayudarlos si SOLO hubiéramos recibido esas notificaciones y nuestras citas de intercambio.

Tiene que suceder muy pronto ahora - Los amo a TODOS - Gema

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TRANSLATION IN ENGLISH:

BRUCE August 15, 2023 ONLY INTELLIGENCE WHERE ARE WE NOW THIS WEEK???

Information wise it's day by day minutes away and out of the box banned on call lol things are really happening it happened a couple of days ago to keep Chinese Elders happy and we should see something in the next couple of days to reflect that. And the things that happen with martial law and ready to go. The emphasis is on doing things behind the scenes and virtually eliminating the DS in the next few days, but it could be that the hallway cleaning is a cover for us, we're not sure, but it could be, and we'd look at the EWS, which it's the EAS/EBS, we're not quite sure if it's fully integrated or not, but they're trying to highlight this with the new system. On another front, the BRICS conference from 22 to 24 next Tuesday to Thursday and now includes 93 countries that are members or that want to be part of BRICS, all backed by gold with their own currencies and also a new currency of the BRICS nations and tradable as the new USN is now trading digitally and that should be available before the BRICS summit whether or not we see that and this new USTN already on the RC and we should be able to get something on the exchange and I think we need an announcement on this new currency which is NESARA - and we have currency backed primarily by gold and other assets. So there's a lot going on behind the scenes: political change is in the air and at work, and we should have evidence of that, not just Bruce knowing, but when MS America will know, and this is what the Chinese elders should know. know and make people aware.

Bondholders are still waiting for those notifications so far that hasn't happened yet and I'm sure they are just as anxious as we are and the next two or three days are going to be significant the other thing at stake is Iraq. and I keep saying that they published the new rate and in the Gazette tomorrow or on Saturday and the HCL passed long ago and it should be implemented with the new rate and especially for Kurdistan, I don't remember the percentage but it was agreed. So something that could be out tomorrow or in a special edition before Saturday – these cleanups and arrests and political stuff should get us to a point where everyone is happy and we can move forward with our notifications to do our trades and Zim Redemption. it could happen this week or next and yet we understood that we have this and the new USN before the BRICS kicks off on Tuesday in South Africa sort of a time frame that it should happen before that summit so today the 15th and we could see action this or early next week you know when the sources say wait and see and we've been waiting to see a lot but things are definitely happening militarily and politically and we'll get those notifications when Treasury says so , and now Bruce is going to talk about Sue and her shows.

So I'm thinking that's all Bruce has for today's information. Of course he will thank his entire team Sue and Bob and GCK and Pastor Scott and Jeannie and Larry and of course all the faithful listeners around the world. And no doubt, as usual, praying the call, so please join Bruce in that prayer and keep praying until we finally see this miraculous blessing completed and manifested in our lives – now everyone desperately needs it. - Maui instantly comes to mind: how much we could have helped them if we had ONLY received those notifications and our trade appointments.

It has to happen real soon now - I love you ALL - Gem

THE BATTLE FOR THE STABILITY OF THE EXCHANGE RATE WITH SPECULATORS IN THE BLACK MARKET WILL END WITH THE RECOVERY OF THE DINAR, 16 AUGUST

 AL-NUSAIRI: THE BATTLE FOR THE STABILITY OF THE EXCHANGE RATE WITH SPECULATORS IN THE BLACK MARKET WILL END WITH THE RECOVERY OF THE DINAR

Samir Al-Nusairi, advisor to the Association of Iraqi Private Banks, confirmed today, Monday, that the battle led by the government and the central bank with speculators to control the stability of the dinar exchange rate against the dollar on the black market will end with the gradual recovery of the dinar and that the rise in the exchange rate is temporary, and will inevitably decrease back to the target rate of the central bank in Iraq.

Al-Nusairi said in an interview with “Al-Iqtisad News”, that “one of the most prominent reasons for the rise in the dollar is the news of depriving 14 banks of dealing in US dollars and what the big speculators did in withdrawing cash dollars and the manipulation of unauthorized exchanges with exchange rates.” In addition, some small retailers did not enter the electronic platform for external transfer.

And he added, “Some media outlets and analysts exacerbated the confusion of the market by amplifying unreal and incomplete data and information, as well as websites and microbes that announce daily the exchange rate on the black market despite the warnings of the Central Bank.

And he continued, “The Central Bank is working to diagnose and study the causes and obstacles to entering the electronic platform, delaying some transfers, and setting up procedures that facilitate merchants’ conduct of their business smoothly and easily, and taking possible flexibility to accelerate external transfers in banks, the Central Bank, and in the relevant international banking agencies.”

Al-Nusairi noted that “the measures will inevitably result in a decrease in the exchange rate on the black market for the illegal dollar, and that the Central Bank is currently working on adopting new mechanisms and work contexts to control monetary stability, and their results will appear soon.”

We urge all government agencies, wholesalers, and businessmen to support the Iraqi dinar and deal with it in all local monetary activities and transactions, as it is strong and covered by foreign monetary reserves that exceed $113 billion, and that its purchasing power is gradually recovering. In addition to being an essential pillar of national sovereignty.

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THE SUDANESE GOVERNMENT ACKNOWLEDGES THE EXPERIENCE OF DOLLAR SPECULATORS AND COUNTS ON SEPTEMBER

On Sunday, the Iraqi government expressed its hope that the release of budget funds would contribute to reducing the price of the dollar in the parallel market, while it acknowledged that currency speculators have long experience and fraudulent methods dating back to the nineties of the last century.

The government spokesman, Basem Al-Awadi, told Shafaq News agency, “The launch of the budget definitely means the availability of funds. Therefore, the funds will be released towards ministries, departments, and general directorates in the governorates, independent bodies, and all state institutions, and this means that there is a large cash flow.”

Al-Awadi added, “Many financial advisors in the government hope, with the release of budget funds, that next month will be a catalyst for the very large decrease in the dollar exchange rate.”

He pointed out that “the recent rise in the exchange rate came as a result of the decisions taken to prevent 14 Iraqi banks from dealing in dollars, as this negatively affected the market, in addition to the way speculators performed in the currency.”

Al-Awadi pointed out, “The Iraqi government’s procedures are clear from five months ago until the moment, and the exchange rate fluctuates between ups and downs, but the government is serious about these measures and has a specific plan.”

He explained that “price speculators have long experience since the nineties of the last century, and they move in a way that has a lot of experience and fraud, and despite that, the government’s program is clear according to the scheme of the Central Bank, banks and merchants, to correct the work to go towards buying and selling trade through the central and in the right ways.”

The Iraqi government spokesman concluded by saying, “The government deals with speculators in dollars according to the law, and that requires legal measures from economic security and the state to move in this direction.”

The government statements contradict the assumptions of economists that the exchange rate of the dollar will stabilize at its current rates in the parallel market, which exceed the barrier of 150 thousand dinars for every 100 dollars.

Over the past few months, the Central Bank of Iraq’s attempts to control the parallel currency market, subjugate the exchange rate and return it to the official rate of 1,320 dinars per dollar have failed.