[via PDK] ...What one person calls a redemption center-another calls a bank. But overwhelmingly redemption centers are in banks…Banks that are set up with people trained to exchange currencies and all the procedures and equipment…. Call it whatever you want. Call it a “redeeming bank”…Most work in dual roles…in wealth management and will be assisting with exchanges when it happens…so most are already employed at banks.
We are watching it happen…and yes it is just moving so slowly. Slowly, slowly then suddenly it’s going to go. BAM
Question: ...Mr. C. [Guru Mike Cottrell] said that Iraq will have an RI (as opposed to the RV); what is an RI and what's the difference?
MarkZ: An RI is a reinstatement of the former rate before they devalued the dinar…It is my understanding they can reinstate it to the old rate PLUS…add more for the inflation that happened during that time period….
I think the old rate was around $3.22-$3.30 or so…then if you add in inflation for the last 20 years and you can justify a rate of over $4 or so,…a RV is a revaluation of any rate that’s not the RI rate.
We were getting strange rates in Iraq today...It doesn’t seem to be an official process but an unofficial process. Many merchants or money handlers have put a different value on their dinar. They believe the dinar is about to take a serious spike in value. So they were charging a premium if you wanted any of their dinar...
It’s been an interesting day but, I have not been able to confirm the rumors of $1.13 or so rate…but I can verify the number of sources that tell me “yes, there were major wild swings in the dinar based on who you were negotiating with...I could not confirm the rates many...have said…I can verify the value swung greatly today. I believe its telling us that the people of Iraq believe the timing is very, very soon.
Iraqi Parliament Condemns Israeli Aggression, Pledges Support to Palestine, 14 OCT
In an apparent show of solidarity, the Iraqi Parliament convened a session to address the escalating Israeli aggression against the Gaza Strip. The parliamentary meet, presided over by Speaker Mohammed al-Halbousi, strongly condemned the ‘brutal practices and crimes’ committed by Israel and demanded the activation of the Arab Defense Treaty against Israel.
Call for Arab League’s Intervention
In a bid to bring some semblance of peace to the region, the Iraqi Parliament has called upon the Arab League to hold an emergency session to publicly condemn Israeli aggression. The plea extends to providing humanitarian aid to the besieged Gaza Strip, currently facing a severe humanitarian crisis.
Iraq’s Commitment to Palestine
Faleh Al-Fayyad, the chairman of the Popular Mobilization Forces (PMF), reaffirmed Iraq’s commitment to supporting the Palestinian people. This commitment includes not just aid but also military assistance if required. Al-Fayyad further emphasized that Iraq would not stand by while the United States supports the Israeli occupation against the Palestinians.
Extraordinary Session in Support of Gaza
In light of the ongoing crisis, the Iraqi Parliament has decided to hold an extraordinary session to extend support to Gaza and raise donations for the Palestinian people. This decision highlights the urgency of the situation and the need for immediate international intervention.
Consequences of Israeli Aggression
The recent Israeli aggression in Gaza is expected to trigger significant repercussions, particularly concerning the issue of normalization. The Middle East is likely to witness a paradigm shift in its political dynamics as countries react to this crisis. However, Iraq has made its stance clear, expressing unwavering support for the Palestinian cause and the Palestinian Resistance.
Iraq Vows Unwavering Support for Palestine Amid Ongoing Israeli Aggression, 15 OCT
In a resounding display of solidarity, Iraq pledged unwavering support for the Palestinian people in the face of the monstrous Israeli aggression currently plaguing occupied Palestine. Faleh Al-Fayyad, chairman of the Popular Mobilization Forces (PMF), delivered a powerful statement on Saturday, emphasizing that Iraq will fulfill its obligations to the Palestinians on multiple fronts, including both humanitarian aid and military assistance.
Iraq: Main Pillar of Support for Palestinian Resistance and A Platform of Support, Not Harm
In a candid conversation with BNN, Al-Fayyad made a compelling case for Iraq’s role as a vital platform of support for the Palestinian cause. He declared, “The plans to displace the people of Gaza are unrealistic and cannot be implemented.” Al-Fayyad further asserted, “It is impossible for Iraq to be a gateway to inflict harm on Palestinians; it will be a platform to support them.”
“The Palestinian Resistance’s actions are all a reaction to the occupation’s crimes,” he added, highlighting the nature of the ongoing struggle against Israeli aggression. Importantly, he underscored the role of the United States as a key accomplice in the Israeli occupation’s crimes.
Al-Fayyad went on to pledge that Iraq would be the primary pillar of support for the Palestinian Resistance. He emphasized that Iraq would not permit the United States to lend its support to the Israeli occupation against the Palestinian people.
Operation Al-Aqsa Flood and the Future of Normalization: Strong Statements from Iraqi Leadership
Reflecting on the results of Operation Al-Aqsa Flood, Al-Fayyad noted that the consequences of the events in the Gaza Strip are substantial and will soon become evident. He pointed out the potential impact, particularly in the context of normalization efforts.
The condemnation of the Israeli aggression came from the highest levels of Iraqi leadership. Iraqi Prime Minister Mohammad Shia al-Sudani, during a meeting with the Iraqi Coordination Framework’s forces, condemned the ongoing Zionist aggression and the direct targeting of civilians in the occupied territories.
The Secretary-General of Iraq’s resistance group Asa’ib Ahl al-Haq, Qais Khazali, affirmed the group’s readiness to assist Palestine, offering both financial and moral support through demonstrations and protests. He even stated that his group is prepared to provide on-the-ground support if requested.
Iraq’s Warning to the United States: Israeli Aggression Continues
Earlier in the week, Iraq’s Sayyed al-Shuhadaa Brigades issued a warning to the United States against any interference in Operation Al-Aqsa Flood. The group made it clear that Palestine should not be compared to other international conflicts, emphasizing that any U.S. interference on the side of Israel would make U.S. bases in the region targets for the Resistance.
The group stressed that any U.S. support for the Israeli entity would face retaliation without any red lines uncrossed.
In the midst of these developments, Israeli Prime Minister Benjamin Netanyahu issued a stark threat to “change the Middle East” in the course of Israel’s ongoing war on Gaza. The Israeli military’s continuous airstrikes on the Gaza Strip have resulted in an alarming number of casualties, with over 2,228 Palestinian martyrs and thousands injured.
Iraq’s Long-Standing Support for the Palestinian Cause
Popular Front for the Liberation of Palestine (PFLP) Deputy Secretary-General Abu Ahmad Fouad, in an interview with Al-Mayadeen, highlighted the historical contribution of Iraq to the Palestinian cause. He noted the significant role that Iraq has played, even stating, “the cemetery of Iraqi martyrs in Jenin is testament to this.”
Fouad emphasized the enduring support of the Iraqi people for Palestine and their involvement in the ranks of the Palestinian Resistance. He highlighted the tangible reality of the Axis of Resistance today and the readiness of brothers in Yemen and Iraq to stand with Palestine whenever the need arises.
In Conclusion
In the face of the ongoing Israeli aggression, Iraq’s resolute support for the Palestinian people is a powerful testament to the enduring solidarity within the Axis of Resistance. The struggle continues, with the unwavering commitment of Iraq and other nations who stand with Palestine.
The only way for Iraq to raise the value would be to do so gradually over time based on the success and growth of the economy. Doing so would allow them to withdraw the large quantities of currency as the economy prospers. It also would allow them to float the currency based on the economic success and diversification.
Breitling
When we talk about...what they want the value of their currency at a minimum has to be at the average of the value of the currencies in the region. But they don't just want to be regional they want to be international and be able to trade internationally so they want to be around at least a buck for that.
Tishwash
Article: "Economic praise for Iraq and Russia's agreement to deal in dinars and rubles: a masterstroke" Quote: “In light of the agreement, Iraq will open new horizons of openness with important countries to deal with in the local currency. Therefore, the demand for the dollar will decrease and the value of the Iraqi dinar will rise against the dollar."
Al-Sudani: The customs automation project is a starting point for implementing financial and banking reforms, 14 OCT
Baghdad – On Saturday, Prime Minister Muhammad Shiaa Al-Sudani ordered the government to fulfill all financial commitments necessary to complete the first phase of customs automation and networking. He emphasized the importance of the project as a crucial step towards implementing financial and banking reforms.
The office of Prime Minister Muhammad Shia’ Al-Sudani issued a statement reporting that a meeting was held on Saturday morning to discuss the progress of automating customs and networking. The Prime Minister chaired the meeting and representatives from the United Nations Conference on Trade and Development (UNCTAD) were present.
The statement mentioned that Al-Sudani reviewed a detailed report explaining the progress of work in implementing the first phase of the global system for automating and modernizing customs (ASYCUDA). He also highlighted the most prominent problems and challenges and suggested ways to overcome them, leading to the implementation of a single window for foreign trade. This will be achieved through a comprehensive application of information technology, which will help in unifying customs procedures, issuing electronic declarations, and exchanging data.
In accordance with the statement, Al-Sudani has instructed the completion of all financial obligations to finalize the requirements of the first phase. He also directed the provision of necessary infrastructure to ensure the success of the project. Additionally, he ordered the implementation of technical workshops to introduce this significant project, which will support the government’s efforts in developing economic structures based on the principles of integrity and transparency.
Al-Sudani emphasized that the customs automation project is a vital aspect of the government’s economic reform priorities. It serves as a fundamental basis for implementing financial and banking reforms as per the government’s vision to promote legitimate trade and combat corruption.
