Floating the Iraqi Dinar | Big of Achievements | Al-Sudani's Official In...

"STATUS OF THE RV" BY MNT GOAT, 1 NOV

 STATUS OF THE RV

I first want to make it VERY, VERY clear to everyone that the IQD is NOT yet reinstated on FOREX. Read my lips “NOT YET TRADING ON FOREX”. Yes, if you go to FOREX there is a benchmark rate for the IQD but it is a linked rate only, linked back to the CBI. It is a page holder. Get it? All you gurus idiots out there please stop hyping this us and using it to convince people that the dinar is back on FOREX. Your version of the story it is very deceptive and divisive.

Yes, this is still a very good thing and I don’t want to down play it either. But let’s present it to our listeners as it really is. The IQD rate is there as it is only in preparation for the future. But there is not yet any trading ability to buy or sell. Get it? No one is trading the IQD. The rate of the IQD is now still solely affected by the US dollars in the parallel market within Iraq and only within Iraq. Even though they CBI officially took the dinar off the de facto peg to the US dollar it is still being affected by speculation, yes pure speculation and nothing more.

I can hardly believe that anyone can’t see this or understand it. So why are many gurus telling you the IQD is back on FOREX? They even tell you there are high rates on FOREX. Really? Is IQD 1320 : USD 1  (about 1/6 of a penny) high? Unbelievable bullshit!  

Are the OFAC sanctions still in affect by the US Treasury on the IQD? Yes, and with the conflicts now going on in the middle east there may be even more delays in the process going forward with the project to delete the zeros and the reinstatement. We only have to pray and wait. In the end it I all going to be okay and we will be at the bank exchanging. But we must let God’s Hand do it work as this is very messy with all the turmoil the deep state has caused to try to take over the planet. They are manipulating events and it should be very obvious to everyone by now. Folks, these events and crises after crises just don’t happen. They are well orchestrated and planned and we must all understand this. We must stop being victims to the crises and stand up to them. But to do this you must first realize just who the real perpetrators are and what are their ultimate goals. You must open your mind and look at reality and stop drinking the blue cool aid of the leftist and FAKE news media channels. This is how we got the world in the mess to begin with. We trusted people to govern us and see what they are doing to us? They are screwing us once we gave them our trust.

I still plan to make my Wednesday call to my CBI contact and so I will pass on to you what I here in my Thursday Newsletter.

Now on with the REAL news for today.

In the continuing effort to rein in the dollar, on Saturday, government banks began launching the “Electronic Reservation Service” (ERS) to sell the dollar to travelers at the official price set by the Central Bank of Iraq of 1,320 dinars. The Rasheed and Rafidain government banks have identified a special mechanism to obtain the dollar through advance electronic reservation, with each traveler’s share amounting to 3,000 thousand dollars. This may sound terrific except that there are snags to the new software and it is not compatible with the needs of the banks and consumers. It is limited daily transactions. Obviously this is not the total answer but I believe they are getting close to getting a handle on these dollars. Bu this is also a good sign that the banks themselves are now taking a hand in an attempt to find solutions and not leaving it all to the CBI.

So, today Prime Minister Muhammad Shiaa Al-Sudani received the Minister of Industry, Mines and Trade of the Islamic Republic of Iran, Abbas Aliabadi, and discussed economic relations between the two countries, and ways to enhance them and strengthen exchange and partnership at various levels and fields. The meeting witnessed discussion of the possibility of moving towards using the national currencies of the two countries in trade exchange and bilateral financial transfers, in order to have more flexibility in dealing, for the benefit of the two countries. 

These two countries will need alternative currencies if Iraq is truly going to ditch the dollar and currency auctions in January 2024. For us investors this is a huge, huge undertaking for Iraq and just what we want. Right? Yes, we have waiting so long to hear this news. Even though this is not brand new news, it is still all very good they are now negotiating this move again as it is November and January is just around the corner. Will they actually do it? You can read the full article in the Articles Section of today’s Newsletter.

A year has ended since the Sudanese government took over, which was formed after months of crisis of political events. Remember? Then in order to take power promises were made. After which came a government curriculum that included addressing many unresolved files. What was in one of these files? According to the representatives, there are projects that have not been completed and the dollar is still stronger than the dinar, which means the problems of the economic file will continue.

Oh…did they just say and I quote – “there are projects that have not been completed and the dollar is still stronger than the dinar. “

You can read the full article in the Articles Section of today’s Newsletter. But I want to address this part and what I just quoted from the article. It is about the government curriculum and in particular the dinar becoming stronger than the dollar. Yes, this does appear to be a goal of Al-Sudani as part of his curriculum. Something that he signed on to do as part of taking on the assignment of prime minister. In other words in his ”to do list”.

Remember he has repeatedly said that the dinar is stronger than the dollar. And he is correct too and I showed you many times already with proof. So what else does this part of his curriculum tell us? It also tells us he is on board with the CBI goals. They are working together to bring back the dinar. This is very important as through the years many of these directors of the CBI have not been working with the government on this matter. Do you see it now that this revaluation is a target for Al-Sudani and a partnership with the CBI. The fact that we have heard so many articles and continue to read so many articles on the process of “de-dollarization” is very important.

So, we now know that Al-Sudani’s curriculum is not a five year project and we hav proof. We don’t need stupid intel guru over speculation or hype. We have the proof. But still when will this occur?

They even told us just recently that they wanted to conclude this within a year. A year? Yes, a process that normally could take 6 years. So, we are not talking about waiting much longer. My contact from the CBI has told me and I have told you also that January 2024 is their target and is the best most opportune time to reinstate the dinar. In my last conversation with my contact I was told they were given the green light to begin the re-education criteria to teach the citizens about the newer lower denominations and how the conversion back to the lower denominations as they had before 2004 is going to take place. This is begin in November. Something we must watch for.

Now with this Israeli terrorism and instigation of with Hamas by Iran what will happen to the process? Will it get stalled again? Many say the US Treasury wants to reinstate the dinar. Really? That’s not what my CBI contact is telling me. In fact, it is just the opposite. They have been the largest obstacle to the process. Only since January of this year have they supported the RV process in a real way and not just talk. So, things have changed in this direction too. But first things first, as my CBI contact keeps telling me. Some of these intel gurus are telling us that the lower denominations are in the ATMs at the airports. Really? My CBI contact told me these are just the 250, 500 and 1000 lower denominations and not what we are looking for. So these idiot guru better start paying attention to what is actually being told to them and start asking the right questions of their contacts in Iraq, if they even have any real contacts….lol..lol..lol.. 😊

What else is in the news?

Prime Minister, Mr. Muhammad Shiaa Al-Sudani, received on Saturday, the European Union Ambassador to Iraq, Mr. Thomas Seiler. During the meeting, bilateral relations between Iraq and the European Union were reviewed, and ways to strengthen them in a way that achieves mutual economic benefits.

Also the Iraqi Director General of the Department of Foreign Economic Relations at the Ministry of Trade Riyadh Fakher Al-Hashemi discussed with the Deputy Director-General of the World Trade Organization (Xiangchen Zhang) at the headquarters of the World Trade Organization in Geneva Iraq’s full accession to the organization.

The ministry said in a statement that “Al-Hashemi reviewed in the meeting Iraq’s current efforts and plan for the next stage in completing the technical files required to be submitted to the organization’s secretariat and preparing them in accordance with the conditions of the organization and fruitful cooperation with international organizations supporting Iraq’s accession to the organization and its quest to obtain full membership in the organization.

Remember they did tell us they are “fast tracking” Iraq to full accession. Are they already fully a member? Well this article tells us otherwise and so we must listen to what they are telling us. There is still work to be done but it sounds like they are down to the very last of the requirements and paperwork. This could happen prior to the end of this year.

So, all the news today is very favorable. Yes, there were multiple bombings on US forces in and around the Kurdistan region. So, I don’t think the US is going to rush to sign off on the reinstatement of the dinar right now. Also, we all have heard of efforts to totally oust the US forces out of Iraq. I believe the current US forces are not so much there to protect Iraq as they are using its bases as a place of operations against Syria and terrorist organizations in other countries. This can all change very suddenly as the situation in the middle east is very fluid. Let’s just wait and see how it all plays out.

I am still being very hopeful for a January 2024 reinstatement. If the CBI begins their re-education campaign in November this will be a good sign for us they are moving ahead again. There is still plenty of time to work on the process. I am told they can do it in two months. But as investors we must be patient too. I know it has been a long ride so far. But today’s news has solidified any OPINIONS into FACT that the RV/Reinstatement is part of Al-Sudani’s curriculum and not just some intel guru hype. But we must remember too that first things first.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraqi intelligence raids a company that smuggles dollars out of the country and arrests its members, 1 NOV

 Iraqi intelligence raids a company that smuggles dollars out of the country and arrests its members

Iraqi intelligence raids a company that smuggles dollars out of the country and arrests its membersShafaq News / The Iraqi intelligence agency specialized in combating terrorism announced on Tuesday the arrest of six people working inside a company and in possession of sums of money amounting to 334270000 million Iraqi dinars and 157215 thousand US dollars on charges of smuggling currency out of the country contrary to the instructions of the Central Bank.

She said in a statement, received by the Shafaq News Agency, that the intelligence agency's detachments continue their pre-emptive operations against dollar speculators who practice transferring money contrary to the instructions of the Central Bank, which would harm the national economy, explaining that based on accurate intelligence information received by the detachments of the intelligence agency specialized in combating terrorism in Baghdad Karkh, which included a university services company in Baghdad province next to Karkh within the Mansour area that receives and smuggles the dollar currency outside and inside Iraq in a way Contrary to the instructions of the Central Bank, which would harm the national economy.

The statement explained that an intelligence and technical team was immediately formed to investigate and collect information and after completing all judicial procedures, the detachments were able to raid the building used by the aforementioned company, where money amounting to (334270000) million Iraqi dinars and (157215) thousand dollars were seized, as well as the arrest of 6 people working inside the mentioned company and the closure of the company.

When interrogating the defendants, they openly confessed that they had converted national and foreign currency inside and outside Iraq contrary to the instructions of the Central Bank, taking advantage of a fictitious address bearing the name of a university services company, harming the national economy, according to the statement, which indicated that the defendants' statements were recorded and referred to the competent authority to combat organized crime in preparation for their appearance before the judiciary.

The Rising Value of Iraqi Dinar: A Dance of Economics in the Markets of Kurdistan, 1 NOV

 The Rising Value of Iraqi Dinar: A Dance of Economics in the Markets of Kurdistan

In one of the world’s oldest inhabited areas, nestled between the Tigris and the Euphrates, the value of the Iraqi dinar is finding new strength. In the bustling markets of the Kurdistan region, the exchange rate has soared to 100 dollars for 162,000 Iraqi dinars, painting a vibrant portrait of an economy in flux.

Factors Fueling the Dinar’s Rise

The surge in the dinar’s value can be attributed to a complex interplay of factors, each intertwined with the other in a delicate economic dance. One of the key contributors is the region’s improved security situation. The stability in Iraq, particularly in the Kurdistan region, has fostered an environment conducive to growth, instilling confidence in investors and inviting a wave of foreign investment. This influx of capital has, in turn, reinforced the value of the Iraqi dinar.

Simultaneously, global oil prices have been on an upward trajectory. As a significant oil-producing nation, Iraq’s revenues have swelled in tandem with these prices. This surge in revenue has been a boon for the government’s coffers, positively impacting the value of the dinar.

Supplementing these developments are the economic reforms initiated by the Iraqi government. Aiming to diversify the economy and lessen its reliance on oil, these reforms have targeted private sector growth, foreign investment attraction, and business environment enhancement. These strategic moves have further bolstered the dinar’s value.

The Double-Edged Sword of Currency Strength

Yet, this newfound strength of the Iraqi dinar is a double-edged sword, bearing both bounties and burdens for the Kurdistan region’s economy. On one hand, the stronger dinar has made imports cheaper, benefiting consumers and businesses reliant on imported goods. It has also rendered the region more attractive to foreign investors, potentially sparking economic growth and job creation.

However, the other edge of the sword presents formidable challenges. A robust dinar can dent the competitiveness of Iraqi exporters by making their goods more expensive in international markets, potentially stifling the overall economy. Moreover, a stronger currency can trigger inflationary pressures by escalating the prices of imported goods, necessitating the Kurdistan Regional Government to monitor the situation closely and implement measures to manage these pressures.

Navigating the Economic Landscape

In conclusion, the rise in the Iraqi dinar’s value presents a nuanced narrative of economic progression and challenges. While it has ushered in certain advantages, such as cheaper imports and increased foreign investment, it also brings with it potential pitfalls like intensified competition for exporters and the threat of inflation. As the dinar continues its upward trajectory, the Kurdistan Regional Government faces the arduous task of managing these challenges to secure sustainable economic growth. In the age-old dance of economics, the melody has changed, but the steps remain as intricate as ever.

https://bnn.network/politics/the-rising-value-of-iraqi-dinar-a-dance-of-economics-in-the-markets-of-kurdistan/

Kurdistan Embraces the Iraqi Dinar: A Move for Economic Unity, 1 NOV

 Kurdistan Embraces the Iraqi Dinar: A Move for Economic Unity

In a strategic move that not only amplifies its economic alignment with the rest of Iraq but also signals a shift in regional monetary dynamics, the Kurdistan Regional Government (KRG) has decided to exclusively use the Iraqi Dinar for all transactions at border crossings and airports commencing next month.

A Symbolic Gesture of Unity

This decision, based on Resolution No. 227, mandates the payment of customs duties and tariffs at border gates and customs points solely in Iraqi Dinar. This may seem like a simple bureaucratic change, but it marks a significant step in strengthening the KRG’s ties with the Iraqi central government. Previously, the KRG had used the Dinar instead of the US Dollar at some crossings with neighboring countries, but this move extends the practice across all its borders.

By exclusively using the Dinar, the KRG aims to promote economic unity and enhance trade relations with Iraq. This stands as a testament to KRG’s commitment to fostering a more integrated economic environment within the country.

A Practical Shift

Beyond the symbolic significance, the decision to adopt the Iraqi Dinar for border transactions presents several practical advantages. It simplifies the payment process for customs duties and tariffs, as all transactions will be conducted in the local currency. This reduces the need for currency exchange and streamlines border operations.

Furthermore, this move eliminates the reliance on the US Dollar, which can be subject to fluctuations in exchange rates and international economic conditions. This independence from the Dollar’s performance may offer stability and predictability, key factors in attracting foreign investment and stimulating economic growth.

Challenges and Implications

However, the transition to exclusive use of the Iraqi Dinar for border transactions may not be entirely seamless. It requires coordination and cooperation between the KRG and the central government to ensure smooth implementation, including establishing mechanisms for currency exchange and addressing potential issues during the transition period.

Businesses and individuals accustomed to using the US Dollar for border transactions may also face adjustments in their operations and financial planning. The shift to the Iraqi Dinar could have implications for the exchange rate between the Dinar and the Dollar, affecting the cost of imports and exports.

Ultimately, the decision to adopt the Iraqi Dinar for border transactions reflects the KRG’s commitment to strengthening its ties with the central government and promoting economic unity within Iraq. While challenges may arise, the move carries the potential to create a more stable and predictable economic environment in the Kurdistan region and enhance trade relations with Iraq.

https://bnn.network/finance-nav/kurdistan-embraces-the-iraqi-dinar-a-move-for-economic-unity/

Iraq PM to Visit Pres Biden?💣VND=$.47 IQD=$3.81?🤔Iraq Dinar RV Updates |...

Kurdistan Region’s Economic Boom: A Beacon of Opportunity in Iraq, 1 NOV

 Kurdistan Region’s Economic Boom: A Beacon of Opportunity in Iraq

In the cradle of ancient civilizations, nestled between Syria, Iran, and Turkey, lies the semi-autonomous region of Kurdistan in Iraq. Here, the Minister of Finance and Economy, Awat Janab Nouri, has announced a significant economic boom, a declaration that has sent ripples through the world of finance and beyond. With a wealth of resources and a strategic location, the Kurdistan Region in Iraq is now emerging as a beacon of economic opportunity.

The Blossoming of an Economy

Once a region embroiled in conflict and economic hardship, the Kurdistan Region is now witnessing an unprecedented surge in economic activity. Among the gleaming indicators of its progress is the successful issuance of bonds worth a staggering 700 billion Iraqi dinars. These bonds serve as a financial lifeblood for various development projects that are currently shaping the region’s future, injecting vigor into its economic veins.

The region’s economy, which once leaned heavily on oil revenues, is now diversifying at an accelerated pace. The Minister emphasized the ongoing efforts to attract foreign investments and bolster sectors such as agriculture, industry, and tourism. These initiatives have not only contributed to the region’s economic growth but have also fortified its stability.

Building Bridges, Reaping Benefits

The Minister also underscored the importance of regional cooperation and partnerships. The Kurdistan Region has been successful in cementing strong ties with neighboring countries, including Israel and Palestine. This rapport has opened the floodgates of trade and investment opportunities, further fueling the region’s economic engine.

The region’s economic success has not gone unnoticed in international circles. Iraq, recognizing the potential of the area, has been extending its support to the region’s economic development. This has resulted in increased investment and economic cooperation between the central government and the Kurdistan Regional Government, creating a synergy that bodes well for the region’s future.

The Pillars of Progress

In an era where financial transparency and accountability are paramount, the Kurdistan Region has taken strides to improve its financial management. The introduction of new financial systems and the establishment of oversight mechanisms have fostered an environment of accountability and transparency. These measures have helped to create a favorable business environment, attracting more investors to the region.

Education, the backbone of any society aiming for sustainable development, is another area the region is focusing on. The Ministry of Higher Education and Scientific Research has introduced new programs and curricula, improved infrastructure and facilities, and provided scholarships to students. These efforts aim to mold a well-educated workforce, a critical element in the region’s economic growth narrative.

The Minister also addressed recent challenges faced by the Kurdistan Region, such as the economic impact of the COVID-19 pandemic and the decline in oil prices. He emphasized the importance of resilience and adaptability in overcoming these challenges and ensuring the region’s continued economic progress.

In conclusion, the Kurdistan Region in Iraq is experiencing a significant economic boom, with various sectors contributing to its growth and stability. The region’s efforts to diversify its economy, attract foreign investment, and improve financial management have yielded positive results. Despite challenges, the Kurdistan Region remains committed to its economic development and is actively seeking partnerships and cooperation with regional and international entities.

https://bnn.network/politics/kurdistan-regions-economic-boom-a-beacon-of-opportunity-in-iraq/