Tuesday, October 24, 2023
Economist: The Gold Reserve Of The Central Bank In London…And This Is The Relationship Of Its Price To The Dollar, 24 OCT
Economist: The Gold Reserve Of The Central Bank In London…And This Is The Relationship Of Its Price To The Dollar
Time: 10/24/2023 13:43:25 Read: 1,248 times {Economic: Al-Furat News} An economic expert confirmed the difficulty of predicting gold prices, specifying “the relationship in gold prices and the dollar.”
Salah Nouri told Al-Furat News Agency, “It is known to economists that the dollar and gold represent a reserve for central banks, including the Central Bank of Iraq that adopts this diversification. In practical life, the relationship between the dollar and gold is an inverse relationship, as whenever there are signs of a decline in the price of the dollar in the financial markets.” He tends to invest in gold as a safe haven, and thus the global demand for gold increases and its price rises.”
He stated, “The Central Bank of Iraq owns a good amount of gold and it is stored in London, where the World Gold Council is located. The Central Bank of Iraq depends in determining the value of gold on its price on the London Stock Exchange.”
Nouri pointed out, “It is difficult to predict whether the price of gold will rise or fall because it is linked to the price of the dollar, and the latter is linked to unstable economic and political events in the world.”
An Economist Identifies The Causes Of The Ongoing Crisis In Exchange Rates, 24 OCT
An Economist Identifies The Causes Of The Ongoing Crisis In Exchange Rates
Economy | 03:54 – 10/24/2023 Mawazine News – Baghdad The financial and economic expert, Mahmoud Dagher, today, Tuesday, identified the reasons for the ongoing crisis in the exchange rates of the US dollar against the Iraqi dinar.
Dagher said in a Facebook post, viewed by Mawazine News, that “the current crisis in the exchange rate is caused by the bad Iraqi policy of accepting that ports of entry remain open to countries subject to sanctions.” He pointed out that “this policy is followed by some partisan forces participating in the political process.
The exchange rate of the US dollar against the Iraqi dinar in the parallel markets is still recording a significant increase compared to the official rate.
Despite the approval of the country’s general budget several months ago, and the Central Bank selling more than 200 million dollars per day, many questions are being asked about the reason for the continued rise in the price of the US dollar against the Iraqi dinar in the parallel markets. Exchange.
Saturday’s Call 10/21 to my CBI Contact: by MNT GOAT, 24 OCT
Saturday’s Call 10/21 to my CBI Contact:
So, last Saturday, October 21, 2023 I made my usual call to the CBI and we had a very long conversation. After I asked about the re-education plan for the currency reform process and how it is being delayed, we got into a much deeper conversation of the events of the past with all these early currency exchanges at very high rates. This conversation helped me understand what is really going on with this RV/Reinstatement process. It confirmed much of what I already knew but most importantly I now understand the level of corruption that is happening in the US Government and how they try desperately to cover it up and will do anything to cover it up, even at the expense of ruining a country, such as Iraq. It is terrible how careless and lack of concern for the Iraqi people. It’s all just about $$$$ with a pretense of caring only when they have to for a public image.
You see this was president Barrack Obama’s scam and he is protecting those who participated in this scam by changing all the rules from the president Bush’s era as for how Iraq could qualify to be reinstated. He has set the bar so high it is almost impossible for Iraq to achieve these goals in any short order. Thus, we have waiting so long now since 2013. Like the JFK assassination and the NYC 911 conspiracies, they need to put time in between the events to allow them to manipulate the system in the meantime. People die and memories fade. Time is always on their side, and they know it. So, Obama just changed the rules to put that time element in between us investors and exposing this scam. With people like TNT Tony, who has a very large following, it is easy to convince people that they are going to “someday” exchange and thus keep them quite or else. Is he now part of the scam? But we know like the JFK and NYC 911 this conspiracy will come out someday. We only hope much sooner than later. Really, if January 2024 does not produce a reinstatement of the IQD then this only confirms everything I am saying in this newsletter today.
So, we can see the CBI working now against the Obama plan and moving at warp speed to get the currency reform process completed so they can get on with rebuilding their economy and banking system. The Obama policy is slowly fading as is the enforcement of it with the Joe Biden administration too. We can clearly see now they are holding up the reinstatement and it is through the US Treasury Department. This is why they keep giving this idiot TNT Tony false benchmarks with this anticipated RV every week. They are stalling as long as they can. They know damn well it is not going to reinstate as the process is not even full underway. They are lying to Tony. They assigned someone special from the US Treasury to manipulate him only he does not realize it or want to realize it or is just a dumb stupid ass.
So, what comes first the chicken or the egg? This dilemma in the CBI is the reason why we are now witnessing such drama with the de-dollarization process. This is why the US does not support Al-Sudnai’s new government. They cannot manipulate this man. He is not their puppet. Will they use the Israel crisis to try to oust him? We have been told in just a recent article that the CBI is attempting to accomplish in 1 year in 2023 what should normally take 6 years. I am talking about the full Dr Shabibi plan and the process of how to conduct the de-dollarization, then the project to delete the zeros and to get back on FOREX. We can see it playing out. How can you not see it? This amazes me with all these other intel gurus and how dumb down they really are as they can not to see it. But this is not their concern anyhow as they are just out to make money off their clickity-clicks and pretense of knowing what is going on.
CONTROLLING THE RATE OF THE DINAR AT 2%:
What does the term “stability” mean when the CBI keeps telling us they need a “stable” currency. Well … today you are going to find out because the CBI just told us again.
In the news this period, see article below, that the difference between the dollar exchange rate determined by the Central Bank and the parallel market reaches 20% (not within the IMF required 2%), which is a high percentage that reflects a serious state of concern because it is considered by the IMF as unstable. Remember the IMF set a requirement that the rate cannot fluctuate in either direction more than 2% and must be “stable” for at least 90 days to prove the CBI can control the rate of their currency. Did you intel guru idiots forget about this requirement? So, is the rate now “stable”? How can the IMF approve the reinstatement if this is not within their mandated requirements?
More evidence the rate is not stable:
On Sunday that the Central Bank of Iraq has begun adopting 5 mechanisms to contain the rise in the parallel market. The ministry has taken written pledges obliging the owners of car showrooms, electrical materials stores, tourism, travel, wholesale and keycard companies, as well as owners of residential complexes, not to deal in dollars during buying and selling, and dealing exclusively in Iraqi dinars according to the price determined by the Central Bank, otherwise the violator is subject to legal accountability in accordance with Article 306 of the Iraqi Penal Code No. 111 of 1969, which stipulated imprisonment and the imposition of a fine on anyone who refuses to deal in Iraqi dinars.”
STILL WORK TO BE DONE ON REFORMING THE BANKING SYSTEM?
We have heard for decades already about the hoarded stashes of cash within the homes and the reluctance of the Iraqi citizens to trust the banks. Really now,,,why should they trust the banks?
-Is the CBI giving them guarantees their money will be safe (much like the FDIC in the US banking system)?
-Is the GOI providing adequate SECUITY to ensure the banks don’t get robbed again like during ISIS invasion?
-Is the dinar worth more than the dollar motivating them to deposit their stashes of dinar in the bank?
-Does the bank offer high interest rate for savings accounts? Yes, a bank just offered over 7% interest on their money deposits. Nice move!
85% of these stashes of cash are in the homes… “hoarded cash” is the most difficult equation in reforming the banking system. Any elementary class in economics will tell you that any economy to flourish will need money to circulate and not be hoarded. This article in today’s article section explains why this is important but not how they intend to remedy the situation any time soon. They have been trying for decades if you go back are read old articles even from Dr Shabibi’s time as governor. But why did he see back them a favorable window to Reinstate? Again, what comes first the chicken or the egg…the growth of the banking sector or the reinstatement so investors can come into Iraq. Yes, there obviously needs some level of “stability” and this level is measured closely by the IMF and World Bank it is the 2% criteria and other measures.
On Monday (October 23, 2023), the financial advisor to the Prime Minister, Mazhar Mohamed Saleh, set the priorities for reforming the banking system and the conditions for achieving it. Saleh believed that “one of the priorities of banking reform is to work to reverse the hoarding equation to become a savings equation with which the public’s surplus funds flow in the form of safe bank deposits, which requires that banks compete to attract deposits and provide loans in accordance with the banking management requirements that banks must work with, whether they are Governmental or private?
The Prime Minister’s advisor continued, “Therefore, the basics of banking reform are for banks to search for adequate, effective and influential means that attract the public to open bank accounts, because the bank account is one of the basics of financial inclusion and encouraging individuals of all segments to make bank deposits, and by encouraging means the priority for the depositor to be obtained is On bank credit or banking facilities when needed before others, to ensure that the public is encouraged to make double deposits.
He noted that “the banking system still deals with only 15% of the monetary mass issued into circulation until today, which is called cash leakage outside the banking system, and it is one of the basic indicators from which banking reform begins.”
Please go read Iraqi Pillars of Financial Reform. This is all there to read.
He pointed out that “the priorities of banking reform are achieved in providing competitiveness by winning public deposits by facilitating cash deposit procedures and creating an effective atmosphere of reassurance that the deposited funds are protected according to the law and that the Iraqi Deposit Guarantee Company is the primary protector of deposits against banking risks.”
He stated that “the first and final goal of reforming the banking system will remain based on quickly providing facilitated banking services to economic activity with the highest levels of facilitation, in addition to providing positive incentives to the public in order to deposit, whether with encouraging bank interest or facilitating (easy and safe) deposit and withdrawal methods for their money, in addition to obtaining loans.” “Before others.”
But these are still “goals” and not how they intend to accomplish them. Gt it? So there is work to be done to reinstate but only if you want to continue to follow the Barrack Obama plan and not common sense. We know differently and that the IQD can sustain at least over $3-$4 right now without any of these banking reforms or growing the economy. It is time to liberate the dinar at least to this level and then let the rate grow once the economy grows. It this not the way FOREX works for investors in the currencies?
Al-Karawi said in an interview with “Baghdad Today”, that “the economic situation in Iraq after 2003 was exceptional in light of pressing challenges that prompted the cessation of production in 90% of factories and factories, and perhaps the percentage is higher to the point that the import balance broke the barrier of 90% in securing the needs of markets from outside the borders.”
Alarming Proportions:
The member of the parliamentary finance committee pointed out that it is “a worrying percentage and reflects a great challenge and economic weakness that is very dangerous in the face of any crises.” He added, “The absence of local production in light of the import of more than 7.50 different goods to the Iraqi markets has led to pressure on the parallel market for the dollar by at least <>%, ie a large part of traders and companies, down to citizens.”
He explained that “when the trader does not find financial liquidity from the dollar through the outlets of the Central Bank according to the official prices, he resorts to the parallel forced.”
MY CONCLUSIONS:
There are very odds that in the coming months the CBI will try to force the reinstatement process to continue and maybe even try some political move to attempt to embarrass the US Government into allowing them to reinstate the dinar in January 2024 timeframe to at least to a rate according to their present assets. Will Joe Biden still be in office or impeached my then? I say this since all the requirements as to why they took the dinar off FOREX in the first place no longer exist. So why has the dinar not yet been reinstated. Why did they reinstate the Kuwaiti dinar so soon after that war ended with Iraq?
I really like these conversations I have with my CBI contact as the TRUTH is slowly being exposed and confirmed. I hope to be able to bring more to you as it develops.
No, the RV has not yet happened or will most likely, more than likely, NOT happen until at least early next year 2024 and they will have until the end of January to give the green light and do it.
Are you now starting to see how politics of the US government and what is happening with the exposure of all the Obama/Biden corruption is very interconnected to us seeing this reinstatement of the Iraqi dinar any time soon?
This is why I included my political section in my Newsletter. This is why I fully intend to leave it in my Newsletter. As citizens we must all get involved in our own country’s politics or these non-elected and elected deep state, elitist, globalist will do what they want to our countries if unchallenged. Their plans are clearly spelled out and they work under corruption and divisive means. They are not trying to make this a wonderful world to live in, trust me on this one…. or go read the documents with their sinister plans for yourself.
Evening News with MarkZ. 10/24/2023
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, (UPDATED), 24 OCT
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: The television is talking about the Iraqi Development Fund that is inside of the budget...They keep talking about the budget, what's in it and the development fund is what's key.
FRANK: Profound...the Development Fund is what's going to fund the budget. This development fund is the new exchange rate. They're talking about it because they're talking about the exchange rate...What they're talking about is you have a new exchange rate that is coming for everything to work...
FIREFLY: My bank guys says corruption is still the major holdup right now but even Sudani was on the news saying for parliament to stop calling out Alaq. He's saying the parliament members are the problem...
When you ask when is it going to happen... ask how is the cleaning going. How is the removal of Iran...eradicating the smuggling going. That's what we want to know. Nothing else.
Because once the atmosphere is suitable you're going to get what you want. You're never going to get rid of the cockroaches but you can definitely control them. That's what's happening right now - corruption is being controlled, it's being cleaned up.
Major powerful countries are coming into Iraq. It's going to effect their currency exchange rate. More than anything else it will rocket their float and that when you have to be very astute. Watch it...You've got to watch the rate in the float. Know when to hold'm and know when to fold'm. Know when to backoff.
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...