Tuesday, November 21, 2023
"RV UPDATE" BY MARKZ, 21 NOV
MarkZ
Question: What is the difference between and RV and an RI? ...RI means they are re-instating the old value. An RV is revaluing at something different than the old value. Either one will be great for us. If they re-Instate it – I believe the rate was $3 something…maybe $3.30 or so…. Even with a re-instatement they are able to add more for inflation which could put it in the $4 dollar range. That is the basics.
I have a great bank story to share with you guys. I will leave her name out for anonymity: “Went to a JP Morgan Chase bank today. The teller confirmed that they are in training and admitted they are changing their systems. There was a 13 foot pillar advertisement – a LED screen that was saying “Foreign Currency Exchange” And admittedwhat you [MarkZ] and the others like Frank...others tell us. We were smiling a lot after that bank visit today."
Representatives Warn: The Scarcity Of The Dollar Causes Iraqis Working In Foreign Companies To Lose 20% Of The Value Of Their Salary, 21 nov
Representatives Warn: The Scarcity Of The Dollar Causes Iraqis Working In Foreign Companies To Lose 20% Of The Value Of Their Salary, 21 nov
November 20, 2023 Baghdad/Al-Masala Al-Hadath: Representative Mustafa Sanad revealed a strange reason that exacerbated the problem of dollar scarcity in local markets, and caused a loss of 20% of the salaries of Iraqis working in foreign companies.
Sanad said that the Prime Minister’s Office gave an exception to Daewoo to receive their share of the dollar in full and through (Abu Dhabi Islamic Bank), and therefore the Central Bank, Basra Branch, was directed to distribute most of the cash dollar (cash) to this company for nearly three months.
He added that this measure caused the scarcity of dollars for the rest of the local companies and contractors and their loss of 20% of their dues because the receipt was in Iraqi dollars and at the official rate. The same applies to Iraqis working for foreign companies who were receiving their salaries in dollars and now in Iraqi dollars and at the official rate, which caused their salaries to decrease by 20%.
He pointed out that a question was directed to the Central Bank about the reasons for this unfair dealing. https://almasalah.com/archives/73798
The Dollar In Iraq.. Baghdad Is Planning “Permanent Solutions” With Washington, And Parliament Describes The Dialogues As “Successful”, 21 nov
The Dollar In Iraq.. Baghdad Is Planning “Permanent Solutions” With Washington, And Parliament Describes The Dialogues As “Successful”, 21 nov
Politics/Economy |Baghdad today - Baghdad The Finance Committee in the House of Representatives said today, Tuesday (November 21, 2023), that the dialogues taking place between the Central Bank of Iraq and the US Department of the Treasury are very important to find solutions to the dollar crisis in Iraq.
Committee member Moeen Al-Kazemi told Baghdad Today, “The monetary and financial authority in Iraq is making great efforts through negotiation and dialogue with the US Treasury Department in order to find quick and lasting solutions to the dollar crisis, and these dialogues are very important.”
Al-Kadhimi stated, "Over the past few days, Iraq has reached important solutions with the American side, and the dialogues have been successful. Therefore, new meetings must be held to present more solutions that strengthen the Iraqi dinar, prevent any scarcity of the dollar in Iraq, and support the Iraqi banking sector."
Yesterday, Monday (November 20, 2023), an informed source reported an expected meeting between the Central Bank of Iraq and the US Treasury Department next week.
Government sources recently spoke about an agreement concluded between the Central Bank of Iraq and the American side, which resulted in an increase in the number of banks that can directly enhance their balance in dollars to 10 banks, 5 of which are through Citibank, and the other five are through Bank G. B. Morgan), according to the Iraqi News Agency.
He also revealed that the number of Iraqi banks whose balances in Chinese yuan will be strengthened through the Singapore Development Bank has increased to 13 banks, while the number of banks whose accounts in Indian rupees with the Singapore Development Bank have been strengthened is 2, and other banks will be added during the next two weeks.
Other meetings were held that brought together an Emirati bank, the Central Bank of Iraq, and the American side, to implement the mechanism for enhancing balances in the Emirati dirham for Iraqi banks, where all the technical details were resolved, and it is expected that the mechanism for enhancing balances in the Emirati dirham will begin during the next few days. LINK
"THE SAGA OF THE IQD RV" BY MNT GOAT, 21 NOV
THE NEWSLETTER IS THE ALTERNATIVE TO ALL THE HYPE AND BULLSHIT OUT THERE ABOUT THE RV. WE DEAL IN FACTS ONLY, NO SPECULATION AND HYPE. IN FACT, MY EFFORTS HAVE CONTRIBUTED TO MANY OF THESE INTEL GURUS REALIZING THEIR MISTAKES AND ATTEMPTS TO CLEAN UP THEIR BULLSHIT.
The saga about the Iraqi dinar RV only gets better and better as the months roll on. Folks, we are almost done with this long journey. More and more pieces of the puzzle are put in place over these past weeks. We can now see the picture and see it clearly. It has become not a matter of “if” this event will occur but “when”. Iraq has given us further nuggets of information to speculate but with pretty good evidence that our speculative conclusions maybe spot on.
So, how long will us investors in the IQD have to wait before Iraq is allowed to liberate it’s own currency? Why do I say “now is the time”?
- We know they are completely out of Chapter VII sanctions since December 2022, and so why not treat them as such?
- We know they want the Iraq funds (nearly USD 115+ billion) released from the NY banks and put in their custody to do what they want with it. They are tired of being bullied by the U.S. with their own money.
- We know they have plans for yet more Sovereign Funds to invest their reserves.
- We know they are making agreements now for “currency swaps” and will no longer be using any US dollars in Iraq as of January 1st 2024.
- We know since January they have undertaken a massive “de-dollarization” program and told it should have taken 6 years but they decided to do it in 1 year (2023). Why such a hurry?
- We know the value of the IQD right now without any further economic development does exceed even pre-1991 era ($3.22) but still at 1/6 of a penny?
- We know Iraq now pumps 2/3 more oil than in pre-1991 era.
- We know Iraq also has announced 132+ tons of GOLD reserves.
- We know they are pushing this year alone, more than any other year since 2005, for the passing of Oil and Gas law. Why?
- We know for a FACT that it is the U.S. through the Treasury Dept. direction that will NOT give sign-off to allow the reinstatement. Why?
- Finally, we know, the CBI has told us that January is the most opportune time to reinstate for accounting purposes, since it begins their new FISCAL year.
Let me explain to you in today’s Newsletter what their next target is
ref: 2011 Dr Shabibi plan
Just be patient, the reinstatement is coming and I firmly believe with what we now are 99% sure it is going to be a January 2024 event. WOW! Finally!!! š
BY
MNT GOAT
Parliamentarians Demand Real Solutions To The Dollar Crisis, 21 NOV
Parliamentarians Demand Real Solutions To The Dollar Crisis
Iraq 11/21/2023 Baghdad: Shaima Rashid Members of the House of Representatives believe that there are various reasons behind the rise in the dollar exchange rate, between the smuggling of currency outside the country and the government’s lack of control over the situation and control of the borders, in addition to the lack of real and realistic solutions in this regard. On the other hand, the victim of all this matter is The poor citizen who is no longer able to meet his needs with the daily rise in prices due to the rise in the dollar.
Member of the House of Representatives, Fatima Al-Qara Ghouli, said in an interview with “Al-Sabah”: “The victim of the current economic crisis is primarily the poor Iraqi citizen,” indicating that “everyone knows the reason for it is the smuggling of currency outside Iraq, and that because of this matter, the US Federal Bank has determined The sale of the dollar should be through the electronic platform in order to control all these obstacles, and in order to stop the smuggling of the dollar outside Iraq.”
She added, "This issue needs a clear financial policy and strategy in order to limit the issues that caused this crisis, in which the Iraqi citizen was a victim," indicating that "with the start of the next legislative term, a session will be held in this regard in order to develop solutions and consult with the Central Bank and the Ministry of Finance."
Finance, and the session will be in the presence of the Governor of the Central Bank,” and she continued: “The timing of the session is still under study, as the issue is important and has caused a stifling crisis without there being solutions.”
In addition, Member of Parliament Haider Al-Salami criticized what he described as “the government’s lack of control over the exchange rate,” and pointed out in an interview with “Al-Sabah” that “there is no real treatment for the crisis, as it must start from the border because currency smuggling and selling Millions of dollars starts from there.”
Al-Salami called on the Prime Minister to address the details of the dollar crisis in a real manner by changing the officials and those concerned with this file, indicating that “we must be frank with regard to this file, because there are partisan interventions in it that make the government unable to solve it.” https://alsabaah.iq/87634-.html