Article: "The governor of the Central Bank Ali Al-Alaq...considered the process of stabling the dinar exchange rate against the dollar as a big operation that requires changes to the Iraqi commercial system...
This came in a speech during the first annual banking conference hosted by the city of Erbil under the slogan The Banking Sector Opportunities for Advancement and the Future of International Companies."
Bruce
[via WiserNow] When it comes to the currencies that we know about, things are moving along nicely with those. They're trading upward. We know that the Dinar is continuing to do well. Dong has been up and down...it's really good to see these things taking place.
...we heard that once the currency sellers stopped being able to sell...It was our turn...what is remarkable about this, we have three confirmations so far from currency sellers, that they have been advised that they are no longer to sell these currencies that we have - which is dinar - Dong...
there's a bunch of others that are going up in value...they are no longer able to sell those after 11:59pm [last] night - Friday night...Central time...Then all those currency sales will be shut off...that's great news for us because I think that sets the bar for us to get started.
Biden Administration’s Support for Israel Draws Global Criticism
The United States has always been a loyal ally of Israel, but the recent actions of President Joe Biden’s administration have drawn criticism from across the globe. Despite previous tensions with Israeli Prime Minister Benjamin Netanyahu, Biden’s administration has been accused of turning a blind eye to Israel’s alleged war crimes in the Gaza Strip, actions that have been labeled as genocidal. Critics argue that the U.S. is employing double standards in regards to human rights, and the repercussions of this stance are already beginning to surface.
Cracks in the U.S. Support
Israel’s actions in Palestine, particularly in the Gaza Strip, have included attacks on hospitals, churches, mosques, and UN-run schools. These acts of violence have sparked outrage worldwide. Yet, the U.S.’s support for Israel appears unwavering. This perceived inconsistency in advocating for human rights has reportedly begun to take a toll on the U.S., with increased anti-Semitism reported among American troops.
The Biden administration’s support for Israel has not been without opposition domestically. Arab leaders, European officials, and the younger, more liberal wing of the Democratic Party have voiced their dissent. Many lawmakers have called for a ceasefire and urged the Biden administration to ensure the protection of both Israeli and Palestinian civilians.
There is a growing divide within the Biden administration itself. Some officials have expressed concerns about the one-sided policy that favors Israel at the expense of the Palestinians. This debate led to the resignation of a State Department official, who stated that he could no longer support a policy he believed to be unjust.
Amidst these debates, there are broader concerns about the potential for the conflict between Israel and Hamas to spill over into a larger conflict in the Middle East, which would endanger American military forces in the region. As a result, the Pentagon has deployed additional military resources to the area to protect U.S. troops.
Striking a balance between supporting Israel and advocating for the rights of Palestinians is proving to be a complex challenge for the Biden administration. During his recent visit to Israel, Biden urged Israeli officials to operate within the laws of war and protect civilians as much as possible. However, the U.S. continues to provide military resources to support Israel’s efforts to combat Hamas, a move that critics argue further fuels the conflict.
The U.S. is also engaging with other countries in the region to address the ongoing conflict. Biden has spoken with Pope Francis about the need to find paths of peace in world conflicts, and there have been consultations with Arab leaders in Egypt, Iraq, Jordan, and beyond.
As the Biden administration navigates these issues, the ultimate goal is to address the underlying causes of instability and work towards a peaceful solution that respects the rights and lives of both Israelis and Palestinians. This task, however, remains fraught with complexities and challenges.
Al-Sudani Rejects Targeting Foreign Forces In Iraq And Directs To Take Measures
The Commander-in-Chief of the Armed Forces, Prime Minister Muhammad Shiaa Al-Sudani, directed to follow up and track down the targets of the Iraqi bases that house the headquarters of the international coalition’s advisors.
The spokesman for the Commander-in-Chief of the Armed Forces, Major General Yahya Rasoul, said in a statement, “At a time when the Iraqi government has expressed, on several occasions, its condemnation of the Zionist aggression.”
On the residents of the Gaza Strip, and repeated its calls to end the tragic conditions that our Palestinian brothers are suffering as a result of that aggression, which represents the firm principled position towards the struggle of the Palestinian people.
We also affirm our rejection of the attacks targeting the Iraqi bases, which include the headquarters of the international coalition advisors present in Iraq, upon an official invitation.
By the government, to continue their work in supporting the work of our security forces in terms of training, qualification and consultation, according to a clear mechanism that was established by the Iraqi official and diplomatic channels, with which the security and safety of those headquarters cannot be compromised.”
The Commander-in-Chief of the Armed Forces directed all security services to carry out their duties, implement the law, track and trace the elements carrying out these attacks, and not allow, under any circumstances, to harm the security and stability that were achieved thanks to the great sacrifices of the members of our armed forces, in their various types and formations.
The Ain al-Assad base in Anbar and Harir in Erbil were bombed by drones more than once, claimed by armed factions calling themselves the "Islamic Resistance in Iraq."
MarkZ: 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. We are watching for that. If its accurate…then BAM.
There are some interesting articles from Iraq. “Teachers in Iraqi Kurdistan strike over delayed salaries”
This is all part of the HCL stuff and the money that is supposed to be flowing to the Kurdish region. They have an urgent need to get this thing done so they can meet their obligations and take care of their people. This new government over there does care about their people and they are working hard to fix things …
There is still lots of chatter out of Iraq…there is a huge project that is underway right now as they look to fix their housing crisis. “Bismayah New City” This is part of the national housing program …
massive new city about 10 miles north of Baghdad. Huge project and they have already broken ground.
Where is this money coming from? How are they planning the potential 600,000 population city with houses, high rises, entertainment…you name it?
It’s clear Iraq is planning for prosperity. They are going to need a new exchange rate to justify this city…imo.
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.