The Central Bank takes 5 measures to contain the rise in the dollar
10-22-2023
The Central Bank takes 5 measures to contain the rise in the dollarInformation / Baghdad..
Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Sunday that the Central Bank of Iraq has begun adopting 5 mechanisms to contain the rise in the parallel market.
Al-Karawi said in an interview with Al-Maalouma, “The difference between the dollar exchange rate determined by the Central Bank and the parallel market reaches 20%, which is a high percentage that reflects a serious state of concern because it is unstable.”
He added, “The possibility of the dollar rising is great with the demand for the parallel market in order to finance deals and travel trips for thousands of citizens,” noting that “the last meeting with the management of the Central Bank revealed negative indicators and cases in some aspects in terms of securing liquidity for the dollar in order to meet all requests.” Purchase,” pointing out that “the bank has begun to adopt 5 mechanisms to contain the rise in the parallel market, the most prominent of which is reducing dollarization in transactions according to specific contexts.”
He pointed out that “reducing the dollar exchange rate is very important, especially since any rise leads to great pressure on the markets and pushes prices higher, with speculators exploiting any opportunity to profit.”
The dollar exchange market in Iraq is witnessing an unstable situation in light of its breaking the barrier of 160 thousand dinars per $100.
...Iraqi Rate is going to 1000, next is 1:1, then the CBI will give an In Country Rate, followed by an International Rate approved by the US. ...The unlock codes arrived on Fri. 20 Oct. from the World Bank.
Pimpy
This is not what you want, our own government to be so concerned about the actions of Iraq that they would be forced to do this.
Article: "Washington directed the departure of the family of its diplomats and non-essential staff from Iraq and not to use Baghdad airport "
That's not good. We need for Iraq to say out of conflict of any kind...Unfortunately there are Iranian backed politicians therefore they're going to be involved...
I don't think the government gives a crap about dinar holders because...the average dinar holder holds 250,000 dinars. That's it.
Sure if an RV happened tomorrow there would be a lot of rich people but just think about a lot of those lotto winners, they win all this money and then all of a sudden they lose it all within the year. Most people would spend it quickly. It would give a huge jump to our economy and they don't care because the money would just go right back to them. I don't think they care that much...
There's a lot of confusion about whether these banks in Iraq are on sanction and how it is affecting the exchange rate.
Article: "The Reality of US 'Sanctions' on Iraqi Banks" ...
I've seen articles where they say these banks are under sanctions but if you go to the official website they're not listed there so it's like a gray area. They're under sanctions but they're not officially under sanctions. It's like putting them in a 'time-out' is what it is.
Article: "Iraq to end all dollar cash withdrawal by jan. 1 2024, central-bank official say" They're not allowing dollars to be taken out of banks anymore. That's pretty big news.
CandyKisses
Article: "
International and international pressure to pass the oil and gas law" Quote: "The Prime Minister's financial adviser, Mazer Mohammed Saleh, confirmed in a press statement that accelerating the approval of the federal oil and gas project law in the House of Representatives as soon as possible will establish a stable national road map for investment and production for the country's main sovereign resource, which is oil and gas."
Samson
Article: "Al-Alaq stresses the importance of achieving stability in the dollar price and the necessity of changes in the trade system"
Kurdistan Region Bolsters Ties with Pakistan: A Strategic Move Towards Economic Diversification
In an era of global interconnectivity, the Kurdistan Regional Government (KRG) is intensifying its diplomatic efforts, setting its sights on bolstering ties with Pakistan. The recent meeting between Kurdistan Region Prime Minister Masrour Barzani and outgoing Pakistani envoy to Iraq, Ahmed Amjad Ali, signified a step towards a promising alliance, particularly in the realms of trade and investment.
Unveiling Prospects and Expectations
With around 12,000 Pakistani expatriates in Iraq, 4,000 of whom are in the Kurdistan Region, the meeting underscored a mutual appreciation for the potential of strengthening diplomatic ties. Notably, discussions veered towards the possibility of opening a Pakistani consulate in Erbil, the capital of the Kurdistan Region, and initiating direct flights between Erbil and Islamabad. These initiatives would not only facilitate trade and investment but also enhance people-to-people contact, fostering a robust bilateral relationship.
Attracting Foreign Investment: A Diversification Strategy
The Kurdistan Region has been proactively diversifying its economy in recent years, pivoting from the traditional oil and gas sectors to construction, tourism, and agriculture. By creating a favorable business environment, it has been successful in attracting foreign investments. Tax incentives and streamlined procedures for foreign investors are among the strategies employed by the KRG to steer this transformation.
For Pakistani businesses, the Kurdistan Region presents a hub of opportunities. Its strategic location, coupled with its abundant natural resources and burgeoning economy, makes it an attractive destination for investment. The potential sectors for cooperation include construction, infrastructure development, energy, and agriculture.
Global Diplomatic Relations: A Testament to KRG’s Commitment
The KRG’s relentless pursuit of establishing diplomatic ties is evident in its relationships with countries like the United States, the United Kingdom, and Germany. It has also engaged with international organizations such as the World Bank and the International Monetary Fund, further underscoring its commitment to economic growth and development.
The KRG has also been actively expanding its trade and investment partnerships with neighboring countries, including Turkey, Iran, and Syria, to promote cross-border trade and economic cooperation. These efforts are underpinned by the KRG’s commitment to creating a conducive business environment, which includes reforms to improve transparency, reduce bureaucracy, and protect investors’ rights.
By expanding its trade and investment partnerships with countries like Pakistan, the KRG is well-positioned to stimulate economic growth, create job opportunities, and improve the standard of living for its citizens. The meeting between Masrour Barzani and Ahmed Amjad Ali is a testament to this commitment, paving the way for a promising future of economic growth and development in the Kurdistan Region.
U.S. Ready for Intervention in Israel-Hamas War if American Personnel are Targeted
In the shadow of the escalating Israel-Hamas war, the United States now stands prepared to intervene, should the conflict reach a precipice where American personnel are intentionally targeted. The warnings have been issued by Secretary of State Antony Blinken and Defense Secretary Lloyd Austin, who emphasized that while they do not desire further escalation, they are ready to respond in defense of American civilians and armed forces. This warning, a tangible manifestation of the underlying tensions, comes ahead of Israel’s looming ground invasion of Gaza, governed by Hamas.
Between the Lines of Conflict
The conflict, an ongoing saga of hostilities between Israel and Hamas, has already shaken the region. With Hamas launching deadly attacks on Israeli civilians, the death toll has surpassed 1,400. Blinken, who has spent several days meeting with regional leaders in the Middle East, has suggested an ever-growing likelihood of escalation. The United States anticipates the involvement of Iranian proxies in the conflict and stands prepared to defend their personnel and respond decisively if required.
In the volatile atmosphere, the Israeli military has been carrying out air strikes on Hamas targets in Gaza and other locations utilized by terrorist groups. The situation is further complicated by the trading of fire with Lebanon’s Hezbollah militant group and soaring tensions in the Israeli-occupied West Bank. As a deterrent, the United States has deployed additional military assets to the region.
A Humanitarian Crisis Amidst Chaos
While conflict rages, humanitarian aid continues to trickle into Gaza, but the situation remains dire. Cindy McCain, executive director of the UN World Food Program, has urged for more aid to be allowed into the region to feed the desperate populace. The United States, cognizant of the heightened tensions, has ordered non-essential diplomats and their families to leave the US Embassy in Iraq and the US consulate in Irbil.
The Quest for Peace
Amidst the chaos, President Joe Biden has been briefed on the situation and has engaged in discussions with Israeli Prime Minister Benjamin Netanyahu and Pope Francis. Biden has underscored the need to prevent further escalation and work towards a durable peace in the Middle East. In an effort to seek a political solution, he has convened a call with the leaders of Canada, France, Germany, Italy, and the United Kingdom to discuss the conflict.
The United States, while not seeking escalation, is prepared to intervene in the Israel-Hamas war if American personnel are targeted. The conflict between Israel and Hamas continues to intensify, with rising tensions across the region. The humanitarian situation in Gaza remains catastrophic, underscoring the urgent need for aid. As the world waits with bated breath, world leaders strive to prevent further escalation and find a political resolution to the conflict.
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 Monday Morning….Welcome to another week of RV possibilities!
MZ: All the banking news over the weekend paints a very troubling picture. It is pointing towards the need for a reset.
Member: Is Rey Ren right when it comes to get ready?
Member: Well most of us have been ready for years now.
Member: Mark lot of rumors about dinar going to 1000?
Member: Yes…the rumors in Iraq is they have very quietly gone to 1000 to 1….I just don’t know how accurate this is…..we are being inundated to misinformation right now….
MZ: The 1000 to 1 always made sense to me ….then they quickly pull the big revaluation right after……but there are rumors around the streets…..even though its been very quiet in Iraq. Right now getting any news over there is like pulling teeth from a grizzly bear with no anesthesia. …..but it is pointing toward they already did that his weekend in Iraq.
MZ: We are watching for that. If its accurate…then BAM.
Member: Mark, They told diplomats to leave Iraq?? That’s big news imo
MZ: Its quiet on all fronts today…..Mr. C has not been paid yet…….Quiet is not a bad thing. The sheer volumn of misinformation things being dropped right now tell us important things….like how they are trying to cloud the timing.
Member: Everything is a distraction at this point just stay on course its happening.
Member: What will keep Iraq from just devaluing all their old currency and printing new currency….. leaving us holding worthless paper?
Member: IMO all the countries would be p****ed because they all hold dinar in their foreign reserves……Iraq would not risk that……imo
Member: Frank said you cant get USD moneyATM in Iraq. So people have no purchasing power at program rate. Can't do this for very long.
Member: so currency dealers are still selling dinar today
MZ: Yes…If you want to buy some they are still happy to sell to you.
Member: Is it possible that Iraq will go alone and is the only one RVing?
MZ: I do not think so but let’s say it is…..Hypothetically it does not make sense for the other countries not to go at the same time because of trade and regional stability…but, let’s just say they go alone and first….Are you prepared? Do you have a plan?
MZ: If they are worried about double dipping and know so many of us hold many currencies….does it make any sense to let Iraq go alone? If they do…..I would make them pay for it and buy more currency and metals and be in a better position long term then short term if they do that….To me that does not make sense.
MZ: So, If Iraq goes first I think it would be awesome. I don’t’think they will…but this rumor is certainly out there.
Member: I feel for the Iraqi people who need the reset!
Member: 5% on the 10 Yr … with an inverted yield curve…I wonder exactly what happened in 2007/2008 when i was trading bonds?
Member: How about the glitch of London Stock Exchange freezing for 80 minutes last Friday? London SE handles alot of money for that side of the world.. the EU Banks are toast...add high yield to bonds??
Member: Banks are going to financial investment institutions all my banks
MZ: Lets back up a few days…” Mysterious withdrawals hit customers at major US bank…plunging some accounts into the negative.” You have heard me talk about my buddy Tom. He was a business partner from S. Africa. His wife’s account got tapped. They couldn’t pay for their medical equipment and the bank could not care less. They still have not fixed the issues in many cases. I am starting to wonder if the banks are in far worse shape then they are telling us?
MZ: “ $84,500,000,000 exits JP Morgan Chase, Wells Fargo and Citigroup in three months as depositors take flight” This is 84 Billion, 5 hundred thousand. This article was from 3 days ago…..
MZ: Now this from yesterday….” $44,354,000,000 exits Bank of America, Morgan Stanley and BNY (Bank of New York) Mellon in three months as deposit flight refuses to relent” This is 44 Billion, 354 million….
MZ: “ A financial crisis is here-US banks are closing down hundreds of branches and laying off thousands of workers” Last year US banks shut down 2000 more branches then they opened. They have cut their staffs more than 20,000 positions so far just this year. In reality banks are troubled and hurting.
Member: November 12th deadline for ISO bank compliance-International Standards….
Member: Mark, Hope your gut is still telling you this is very soon
Member: Bo Polny says Oct 24 will be a event day!
Member: I sure pray we at least have an RV for a wonderful holiday season.
Member: Everything is moving very fast now this week is going to be very up and down buckle up!
Member: Thanks to Mark and Mods……Everyone have a great day.
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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
