"PARALLEL MARKET" , 23 AUGUST

 Parallel market 

Economical 2023/08/15
Muhammad Sharif Abu Maysam

The statement issued by the Central Bank on the third of August, regarding the rise in the exchange rate, is among the most important statements issued by this bank in this regard.

The statement clarified all the circumstances that stood behind the speculation market in exchange rates over the years, and presented the motives of monetary policy and its tools aimed at achieving monetary stability. before the law.

The media and many specialists in economic affairs used to call the black market the “parallel market” in which foreign currencies are traded as a market that operates away from government control, as the price in it is much higher than the official price.

What is new in this matter is that the Central Bank confirms, for the first time, that “no party or person has the right to trade in dollars issued by the Central Bank, and that trading and trading with it outside the licensed authorities is a prohibited activity according to the law, according to the text of Banking Law No. (94) of 2004.”

This matter, if applied on the ground, could contribute significantly to achieving monetary stability as soon as possible, without underestimating the importance of other monetary policy tools referred to in the statement. 

The parallel market must have its own sources of foreign currency, as it is. 

In many countries, the demand for foreign currency is met by private sector exports, domestic tourism, remittances from residents abroad, or other market activities governed by legal market relations.

While the central bank intervenes in cases of imbalance in the exchange rate between the official market and the parallel market with the aim of creating stability in exchange rates, as in cases of “managed floating of the currency”, not that the source of foreign currencies traded in the local markets is from one source, the central bank, and the market is black market parallel. 

Accordingly, and as stated by the Central Bank, such a market is a “speculative market,” and The Central Bank has the right to follow legal methods to sue speculators and those who promote them through the media or through social networking sites, as long as it is its only source, and whoever proves otherwise has the right to trade at the prices it decides. 

Because legitimizing illegal practices through these media tools has contributed over the years to shuffling the cards and harming the national economy. 

https://alsabaah.iq/82403-.html 

DINAR IRAQ & DONG VIETNAM UPDATE, 23 AUGUST

 DINAR IRAQ & DONG VIETNAM

You ran with that number for three weeks as I recall, though you knew the CBI had the rate posted at 1320.

Clearly all the quoted numbers from that report were wrong including the black-market rate.

Here’s the report in fact, [notice the black-market rate as well]:

Ali Al-Alaq to Shafaq News: Wait for a decrease in the parallel dollar exchange rate

EconomyDollar Rates

Ali Alalaq

اسعار الدولار – شفق نيوز

وكالة تنشر اخر الاخبار وابرز الاحداث في العراق وكوردستان والعالم لحظة بلحظة

اقتصـاد – شفق نيوز

وكالة تنشر اخر الاخبار وابرز الاحداث في العراق وكوردستان والعالم لحظة بلحظة

2023-03-21 12:48

Shafaq News / The Governor of the Central Bank of Iraq Ali Al-Alaq expected, on Tuesday, a decline in the parallel dollar exchange rate (market rate and local exchanges) during the coming period.

Al-Alaq told Shafaq News Agency, “The Central Bank has launched multiple packages of measures, and the packages that have been launched are being dealt with seriously to control the parallel dollar exchange rate.”

Al-Alaq pointed out that “the measures of the Central Bank are continuing to control the exchange rate, and we expect a decrease in the parallel exchange rate.”

The parallel rate means the exchange rate of the dollar in the market and exchanges, not the official rate set at 1132 dinars per dollar, according to the decision of the Board of Directors of the Central Bank of Iraq, which was approved by the Council of Ministers.

Iraq’s central bank has issued three reform packages it said were aimed at tackling the rise in dollar exchange rates.

Despite the Central Bank’s actions and approval of the exchange rate of 1132 dinars to the dollar, the exchange rates of the dollar still range in the markets between 1155 and 1158 dinars to the dollar.

Coffee with MarkZ 08/23/2023

Wednesday Morning News with MarkZ 

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: Hope springs eternal for movement with the RV.

Member: Sure, hope there's some good news today on the brics.

Member:  MM said august 24 could be rate change.

Member:  To be accurate MM said from now to around the 26/27

Member:  (From Dinar Guru)  Walkingstick: All banks are back online. Bank machines have been set up. We have done everything that the CBI has requested. We do not know of any other meetings scheduled with the CBI. Just need rate

MZ:  Its been quiet on the RV front-Quiet on purpose…..No money has moved…no bond money has moved….yet…..There appears to be more pressure on getting bond folks to go back…those that got frustrated and left the prospective exchange areas….

MZ: There are reports of “liquid “ money in tier 3 at the paymaster level…….. but group members have not seen it yet. Still trying to prove or disprove it. 

MZ: The supposed goal for all my sources was yesterday. They are very quiet so I know nothing on timing right now. Many still think they will get it done this month. I sure hope so…we all need it. The world needs it. 

Member:  What's news with BRICS

MZ: It’s been very loud on the BRICS front.

MZ: “De-dollazation is irreversible says Putin in Remote address”  He gave a great speech …and the 5 founding members of BRICS already match the GDP (Gross Domestic Products) of the G-7!!  They continue to move forward with cross border payments in their own currencies with a common basket that each country will base their currencies on…This is very important. It protects their sovereignty of each member of BRICS .

Member: Sounds like Brics is looking to align all currencies to parody. NESERA/GESERA?

Member: I say that BRICS may be the Gold Treaty that Mr C always talks about

MZ: “BRICS Pay”  Thanks to all who sent me this one.  This is a de-centralized, multi-currency, digital, International  payment system. For all countries, for all forms of money , for all of humanity. This is a joint venture to set up a common, easy to use World Wide payment system that doesn’t matter what country you come from or go to. It would be seamless and this is a HUGE step. BRICS is pushing forward and quickly…

Member: Have you seen Russia has decided to use xrp?

MZ: “Demitry Trenin : The founding members of BRICS face a historic decision as they attempt to reshape the world order”   20 more countries are officially seeking admission. Over 60 are represented at this summit. Leading the charge are Iran, Venezuela, and Saudi Arabia to join.

MZ: You can search youtube as “Putins address at BRICS”…if you want to hear it. < /span>

Member: It amazes me how many of us find ourselves rooting for a nation, Russia that we have been conditioned all our lives to perceive as the enemy. It just goes to show that the enemy of my enemy is my ally.  Putin is fighting Babylon and winning. It is not our nation we oppose – It is the enemy that has controlled it for so many years. 

MZ: Its us against them….sane rational people that have not lost their mans against the ones stealing our freedoms ….worldwide. 

Member: In History Russia was always our ally. 

MZ: “Efforts to protect US intensify amid global shift from dollar”  They are talking about re-pegging currency to gold, declaring precious metals as legal tender and a return to sound money. Grat article talking about Mooney, Ron Paul, Texas gold repository …and the efforts underway.   https://www.zerohedge.com/political/efforts-protect-us-intensify-amid-global-shift-dollar 

Member: What tier are bonds in?

MZ: The Historic bonds are in tier 3- as told to me. 

Member:  MarkZ I heard a rumor that the appointments will go by 3 separate age groups, 24-44, 45-60, and 61 and older. Any truth to this Sir?

Member: Not sure if that makes sense to me…..

Member: I wonder are we still waiting for more nations to get their financial systems together or just Iraq bringing about their Rate?

Member: Bo Polney said we are in the Great Exodus and the end of the Jewish calender is 9/25/23 for us to see a Jubilee ??

Member: Mark-Thank you for putting in so much time and effort, for us; to keep us upbeat & sane.

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

Markz will be on rumble on SATURDAYS ONLY so he can speak his mind. You will find him on YouTube during the week.

Coffee with MarkZ 08/23/2023

Parliamentary Finance Determines A Factor To Reduce The Exchange Rate, 23 AUGUST

 Parliamentary Finance Determines A Factor To Reduce The Exchange Rate

425    The Parliamentary Finance Committee stressed, today, Wednesday, the implementation of a number of measures in order to reduce the exchange rate of the dollar, whether they are technical or related to the central bank and its procedures.

Committee member Mueen Al-Kazemi said, according to the official newspaper, that “the important factor for the decline in the dollar exchange rate is the simplification of the central bank’s procedures for merchants to urge them to resort to the currency window and not go to the parallel market that caused the high exchange rate, in addition to simplifying the procedures for granting sums to Iraqi travelers.” instead of the current method.

Al-Kadhimi added, “Another problem must be discussed with the US Federal Reserve regarding the countries from which the Iraqi merchant imports and does not grant a transfer to them, given that there is a national interest for the Iraqi people with this import.”

And on some technical matters, the committee member called for “consideration of simplifying the issue of tax that can be deducted in the central bank instead of reviewing the tax departments and entering into a complex routine.”

He stressed that "all these matters must be followed up by consulting the private sector, which is basically the root of the problem in order to obtain positive results."

https://takadum-news.com/archives/179917#hathalyoum

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Parliamentary Finance Determines A Factor To Reduce The Exchange Rate The Parliamentary Finance Committee stressed, today, Wednesday, the implementation of a number of measures in order to reduce the exchange rate of the dollar, whether they are technical or related to the central bank and its procedures. Committee member Mueen Al-Kazemi said, according to the official newspaper, that “the important factor for the decline in the dollar exchange rate is the simplification of the central bank’s procedures for merchants to urge them to resort to the currency window and not go to the parallel market that caused the high exchange rate, in addition to simplifying the procedures for granting sums to Iraqi travelers.” instead of the current method. Al-Kadhimi added, “Another problem must be discussed with the US Federal Reserve regarding the countries from which the Iraqi merchant imports and does not grant a transfer to them, given that there is a national interest for the Iraqi people with this import.” And on some technical matters, the committee member called for “consideration of simplifying the issue of tax that can be deducted in the central bank instead of reviewing the tax departments and entering into a complex routine.” He stressed that "all these matters must be followed up by consulting the private sector, which is basically the root of the problem in order to obtain positive results." https://takadum-news.com/archives/179917#hathalyoum

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Parliamentarian Expects To Pass The Oil And Gas Law Before The Local Elections Energy Economy News – Baghdad A member of the Parliamentary Oil and Gas Committee, Zainab al-Moussawi, expected, on Tuesday, to vote on the draft oil and gas law before the provincial elections scheduled for December 18. Al-Moussawi said, "Discussions and discussions are continuing about the oil and gas law, which will join the work of natural resources in Iraq, but we want to reach a formula for a law that serves the country and does not serve one party at the expense of another." She added, "There are objections by the Kurdish blocs about some articles in the law, such as handing over oil production in the region to Baghdad and exporting it through SOMO, in addition to allocations for oil-producing provinces and other matters that will be resolved soon." Al-Moussawi added, in an interview with "Euphrates News" agency, which was followed by "Al-Iqtisad News", that "a vote on the law is expected before the next local elections."

https://economy-news.net/content.php?id=35812

RV or RI is Coming!💣CBI is Targeting a New Rate!?🤔Iraq Dinar RV Updates ...

In detail.. A newspaper opens the file of “selling cars in dinars” instead of dollars, 23 AUGUST

 In detail.. A newspaper opens the file of “selling cars in dinars” instead of dollars

8-21-2023

In detail.. A newspaper opens the file of selling cars in dinars instead of dollarsEconomic expert Safwan Qusay said, on Monday, that the process of controlling the sale and purchase of cars will be a window to control the real estate, valleys and gold markets in Iraq.

Qusai explained in an interview with “ Al-Jarida ” that “the process of controlling the exchange rate requires that all types of cars be sold inside the Iraqi market in Iraqi dinars, and that they be imported by companies and even individual importers through the platform, and cars are not allowed to be registered in traffic departments unless they By bringing confirmation that the import process has been completed through the electronic platform.

He added, “There is supposed to be a commitment and control over car showrooms in all governorates, including the Kurdistan region, to comply with the sale of cars in Iraqi dinars,” noting that “the process of supporting the Iraqi dinar requires not allowing speculators and smugglers to control the local markets and expel the dollar to the punished countries in various ways.”

Qusai pointed out that “the government is continuing to control all kinds of commodities,” suggesting that “cars with large sums of money are not bought and sold except through Iraqi banks so that we know what is the source of the Iraqi dinar that buys the car and who is the one that sells it.”

He concluded by saying, “If the car market is controlled, then the real estate, gold and medicine market will be controlled.”

jaredaiq.net

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Al-Bayati rules out passing the oil and gas law in a way that meets the ambition of the region

8-21-2023

Al-Bayati rules out passing the oil and gas law in a way that meets the ambition of the regionInformation / Baghdad..

Former MP Jassim Al-Bayati ruled out passing the oil and gas law in a way that meets the ambition of the Kurds in the region, indicating that the Kurdish forces are still negotiating and procrastinating to delay passing the law.

Al-Bayati told Al-Maalouma, “The negotiations on the oil and gas law will not reach any good stages, as the opportunity that the Kurds got in 2008 when this law was sent will not be repeated at the present time.”

He added, “The Kurds rejected the law in the aforementioned year, despite the fact that it was voted on by the Council of Ministers, and prepared to pass it in Parliament, and therefore it is impossible for the law to come back again to be in the interest of the Kurds.”

And he indicated that “the Kurds are calling today for the oil and gas law, but the demand is conditional that the aforementioned law be in their interest, far from consensus or passing by a numerical majority within the House of Representatives, and it is better for them to return to the old law, otherwise the results will be bad for them.”

almaalomah.me