I started thinking about something. Right now Iraq is mostly importing. This is a time when a country would want to increase their exchange rate. This gives them more purchasing power. But that's not what is happening over there in Iraq...
I was wondering why don't they just increase the exchange rate? This would give them more purchasing power and would help them as far as dealing with the deficit because if your exchange rate if higher then you have more purchasing power...Increase in the value of the Iraqi dinar means the imports that they pay for would be cheaper because they would have purchasing power...
The good news keeps flowing in. That's what we want to hear. That's what we want to see...
Every decision they make when it comes to Iraqi dinar absolutely positively affects the economy. Before they can make a decision to either devalue the currency or increase the value of the currency they have to sit back and figure out how it affects the economy...Iraq is mostly an import country. They rely way too much on other countries providing goods for them.
An increase in Iraqi dinar would make those goods cheaper... They're still trying to rebuild so an increase in the value of the exchange rate would help them go a long way. It would give them more purchasing power and imports would be a lot cheaper.
The Baghdad dollar rose on Thursday evening despite the official “easing of restrictions” on money changers, 24 NOV
The Baghdad dollar rose on Thursday evening despite the official easing of restrictions on money changersOn Thursday evening, the dollar exchange rates remained high against the Iraqi dinar with the continued purchase of large quantities and the intensification of speculation, despite a new decision from the Central Bank that eased restrictions on foreign currency trading in exchange companies.
The last price offered on the Al-Kifah Stock Exchange, this afternoon, was 158,600 thousand dinars for each $100 note.
The exchange rates in a number of Baghdad areas were as follows:
American Strikes in Iraq: A Shift in US-Iran Conflict?
The recent American strikes against Hezbollah Brigades positions in Iraq, particularly in Jurf al-Sakhar and north-west of Baghdad, have ignited a flurry of political activity and speculation. According to a political researcher who spoke to “Asharq Al-Awsat”, these strikes may be indicative of a restructuring and rebalancing of the US-Iran conflict dynamic within Iraq, which had been witnessing a breach that needs recalibration. The strikes have been greeted with condemnations from the federal government and most Shiite parties and factions, fueling fears of Iraq being dragged into a new cycle of warfare.
The Coordination Framework’s Statement
The Coordination Framework, which represents the majority of Shiite forces excluding the Sadrist movement, issued a statement hinting at a desire to maintain amicable relations with Washington. The statement underscored the defined roles of international coalition forces under Iraqi law and condemned any actions beyond combating ISIS remnants as serious violations. The group also appreciated the government’s efforts to protect diplomatic missions and enforce the law.
A Shift in American Strategy
Dr. Ghazi Faisal, head of the Center for Strategic Studies, perceives a shift in American strategy from deterring to attacking militias linked to Iran’s Revolutionary Guard. His interpretation is backed by US sources, which claim the recent strikes were a reaction to over 60 attacks by these factions on US personnel in Iraq and Syria since the Gaza war commenced in early October. Faisal warns that if these militias intensify their operations, the US might escalate to a full confrontation, possibly targeting militia leaders akin to the assassination of Iranian General Qassem Soleimani and the deputy head of the PMU, Abu Mahdi al-Muhandis, three years ago.
Adjusting the US-Iran Conflict Balance
Political analyst Ahmed Al-Yasiri views the American strikes as a measure to readjust the US-Iran conflict balance in Iraq, rather than a reaction to the Gaza war’s expansion. Al-Yasiri warns that a failure to respond could embarrass the Biden administration, which has recently seen a setback in polls. He predicts a highly tense period ahead, with Washington eager to keep Israeli involvement minimal to contain the Gaza war.
Temporary Truce between Hamas and Israel
In related news, Mahmoud al-Mardawi, a leader in Hamas, confirmed that mediators in the temporary truce with Israel have pledged that Israel will not re-arrest the released Palestinians once Hamas releases their captives. The truce also involves the entry of food, medical supplies, and fuel into the region, along with the prisoner exchange.
Baghdad confirms to the UN that it is able to ensure security
Baghdad (IraqiNews.com) – The Iraqi Minister of Interior, Abdul Amir Al-Shammari, confirmed on Thursday that the security forces can ensure security and confront any challenge.
Al-Shammari’s statement took place during his meeting with the representative of the UN secretary-general, Volker Peretz, where they discussed the role of the United Nations Mission in Iraq (UNAMI) and cooperation between the two sides, according to a statement cited by the Iraqi News Agency (INA).
The Iraqi Interior Minister made it clear that the security forces are always evolving and that the Ministry of Interior is making every effort to serve the people to the best of its ability.
The Iraqi official also demonstrated how well border controls, the fight against drugs and crime, and human rights are being upheld.
Al-Shammari’s remarks follow condemnation expressed by the Iraqi government of the strikes carried out by US forces against sites belonging to the Popular Mobilization Forces (PMF) in Jurf Al-Nasr in Babylon governorate.
The spokesperson of the Iraqi government, Basem Al-Awadi, mentioned in a statement on Wednesday that the Iraqi government considers the recent escalation a dangerous step involving an unacceptable violation of Iraqi sovereignty.
“We strongly condemn the attack that targeted the Jurf Al-Nasr area, which took place without the knowledge of the Iraqi government,” Al-Awadi explained.
At least five people were killed in the early hours of Wednesday after PMF sites southwest of Baghdad were targeted by air strikes carried out by US forces.
US Central Command forces carried out separate and precise strikes on two facilities in Iraq, according to a statement released by the US Army.
The US Army added that the strikes were a direct response to attacks on American and coalition forces by Iran and groups supported by Tehran.
The Deputy Pentagon Press Secretary, Sabrina Singh, said in a press briefing last week that US forces in Syria and Iraq have been targeted in 55 attacks since October 17.
“There have been 27 attacks against US forces in Iraq and 28 attacks in Syria,” Singh explained.
Singh illustrated that 59 US personnel have received injuries since these attacks began.
The increase in attacks on US forces is linked to the ongoing war between Israel and Hamas, which began after the Palestinian movement carried out a surprise cross-border attack from Gaza on October 7, which, according to the Israeli authorities, killed about 1,400 people.
Following the attack, the United States rushed to provide military support to Israel, which has since launched a relentless air, land, and sea assault on Hamas-controlled Gaza.
About 2,500 American soldiers are deployed in Iraq, providing advisory missions to their Iraqi counterparts as part of the fight against ISIS, while about 900 American soldiers are deployed in Syria.
Diversify Foreign Currency Sources to Curb Dollar Dominance, Urges Atwan Al-Atwani
In a significant turn of events, Atwan Al-Atwani, the head of the Parliamentary Finance Committee, asserted the need for diversifying foreign currency sources in commercial transactions. The move is deemed critical in tackling the escalating demand for the US dollar. Al-Atwani lauded the Central Bank of Iraq for its monumental strides in stabilizing the market, curbing the dominance of the US dollar, and bolstering the Iraqi dinar’s role in international trade.
Addressing Dollar Dominance
Al-Atwani underscored the importance of this approach as a comprehensive solution and a well-considered strategy to pave new avenues. These avenues are expected to ensure the smooth execution of commercial transactions on multiple levels. The primary objective, he pointed out, is to reduce the overwhelming reliance on the US dollar and promote the use of other viable currencies in international trade.
Supporting the Central Bank of Iraq
Reiterating his full support for the Central Bank of Iraq, Al-Atwani was positive about the bank’s consistent steps towards rolling out realistic solutions for the crisis. The bank’s initiatives are aimed at reinforcing the Iraqi dinar’s position in global trade and reducing the market’s dependency on the US dollar.
Greenbridge Capital Launch
In related news, Banco Latinoamericano de Comercio Exterior – Bladex (BLX), TC Latin America Partners and Toesca Asset Management announced the launch of Greenbridge Capital, a regional private lending platform. The first factoring vehicle of this platform will be funded by Bladex. The joint venture is set to commence operations in Chile by the end of 2023, with future expansion plans for other countries in the region, including Colombia, Peru, and Mexico. Greenbridge Capital’s first vehicle, with a financing capacity of up to $200 million, will focus exclusively on the Chilean factoring market.
Let me explain to you what their next target is, referencing the 2011 Dr Shabibi plan.
So the article is entitled – “PARLIAMENTARY CALLS TO EXPAND THE “CURRENCY BASKET” TO ESCAPE THE CONSEQUENCES OF THE DOLLAR”.
So, what is do exciting about this article?
Not only do we have two sources now openly stating they need to go to a currency basket for their new peg for the dinar, but also it is now coming from parliament asking for it.
We already know that the prime minister Al -Sudani and the CBI both support this concept and so now everyone is onboard.
I quote from the article – “Representative Salem Al-Anbuki stressed, on Tuesday, Iraq’s need to increase the size of the financial basket of foreign currencies other than the dollar to end American hegemony.”
Didn’t AL-ALAWI just also express his support for economic transformation and stresses the importance of dealing in multiple currencies?
Yes, he said and I quote – “This step taken by Iraq is not only an isolated step, but rather reflects a global trend towards liberating transactions from the dominance of the American economy.
Oh…using the term “Liberating”?
Sound familiar? (like in “to liberate the Iraqi dinar” as in “reinstatement” as I have been saying now for years.
This is stated directly in the 2011 Dr Shabibi plan.
He then continued to say – “In a prediction for the coming period, Jassim expressed his expectation that currencies other than the dollar will enter Iraq, noting, “the presence of other currencies with a weight and size commensurate with the economic reality.
Isn’t this also called a “weight basket” like the basket of 6 currencies the IMF told us would happen each with its own weight and size according to the economic needs?
This basket would happen when they get off the sole dollar peg (de facto peg) and then move to a basket of currencies and then to a float on FOREX.
This news also could not come at a better time and I am told by my CBI contact that this is part of the re-education campaign they are now undertaking.
So yes, more articles that were planned are now coming out.
Also Al-Sudani came out once again in Iraq in another televised broadcast explaining that the dinar in the “coming days” will be greater that the dollar.
Folks they are getting ready to make their next move to a basket of currencies.
This is their next step of the Dr Shabibi 2011 plan.
I firmly believe that their de-dollarization phase is ending or has already ended.
They monitored the dinar for a period of time, as they told us they needed to do to watch for inflation once they began this process and then take the steps necessary to reign in the dollar and stabilize it with the dinar.
So what steps are remaining?
We know they already told us they got off the sole peg to the dollar but need to re-peg the dinar to something new, now that the monitoring phase is over.
These are the NEXT steps of the 2011 Dr Shabibi plan I want to bring to your attention:
• To revalue the dinar in-country only, to a value over the dollar in order to motivate the citizens to bring them to the bank thus collect the “stashed” dollars from under the mattresses. (not yet on FOREX).
• Conduct the swap out of the three zero notes with the newer lower denominations (Project to Delete the Zeros).
We were told in 2011 this step could happen right around the time of the in-county dinar revaluation.
• Then to further revalue the dinar, by re-pegging to a basket of 6 currencies of the major developed countries, each countries currencies have a weight in the basket.
• Hence move the dinar to a “managed float” on the global currency foreign exchange thus liberating the dinar once again on FOREX.
Some of these steps most likely will happen or could happen all at once or a few days apart.
What about the Oil and Gas law you might ask?
Doesn’t this need to be passed in parliament prior to the move to FOREX.
All I can say to answer this question is that I was told almost a decade ago by my CBI contact that they needed “to fulfill their constitutional obligations first prior to any significant change off the three zero notes”.
Will they make an exception based on the news of the high rate of inflation and so on and so forth?
We know they are working hard to get an acceptable version of the law to parliament for a vote.
This effort really turned to a new high this year and so go figure why it just happened this way along with the de-dollarization phase.
Folks, nothing just happens.
I do not believe in coincidences.
So, now it is past mid-November already and January is coming fast.
I can clearly see that God’s Hand is in all this and has moving this ahead.
So far God’s angels have protected this effort by allowing Iraq to stay stable and out of the conflict going on in the Gaza strip.
This was with the terrorists group Hamas could have easily spilled over into the other middle eastern countries but did it?
We must ask ourselves why?
I have also told everyone that I have evidence that Biden will sign off on this effort and allow the completion of this monetary reform to occur.
Why would he do this now?
First it not about Biden wanting the credit for it.
He knows his days are numbered and they can’t keep up this charade for much longer.
We all know they cheated on the 2020 elections and were successful in the coup against the US government.
You might say I am stretching it to say it was an actual coup since no violence or force was undertaken.
But this was a new kind of coup, the coup of deception using the news media to pump it up.
But this is what made this coup so special.
They used a combination of the portable ballot drop boxes (using Covid as their excuse to use them) and the electronic voting machines along with the fake news media to do it.
Then through this constant onslaught of propaganda by the news media (that continues till today) that it is just a conspiracy theory that the election was a fraudulent one.
If you are one of these believers in thinking that this is just a MAGA Trump sour loser conspiracy theory, then let me bring just one event to you that may change your mind.
It is the Jan 6th 2021 joint session of Congress and the Senate to certify the election results.
Did you even know (you should since I already told you) that there were many states that completed and fulfilled as required by law, the US Constitutional requirement to put together the necessary documentation and evidence of voter fraud and they presented this evidence to this joint session.
What happens next is so obvious but to this day nothing ever happened to resolve it.
Just when the next step of the session had no choice but to allow the investigations to take place, according to the US Constitution, the so-called breach of the Capitol building occurred.
When the joint session meeting finally did come back into session, Vice president Pence rushed to declare the certification of the election results, thus totally ignoring the US Constitution that demands the further investigation of voter fraud allegations.
Future investigations are underway and the TRUTH will come out.
So this is how they performed their coup on the election knowing damned well the American majority vote would never go their way.
Remember that Trump got almost 10 million more votes than in 2016 and so Biden won by a slim margin of just 42,000 votes?
This Biden would have had to not only get an many votes as Trump but 42,000 more.
Does this seem weird to you for someone who has 10 people at his rallies yet Trump has thousands?
Does this seem weird to you that Biden campaigned mostly from his basement?
Now here is the tricky part.
There were never as many voters in the 2020 election and it set a new record high.
Next if you add up all the “registered” voters in all 50 states and they all should vote, then the numbers don’t add up to the total number of votes casts.
It is way over by millions of fraudulent votes somehow got into the system.
This alone should have been warranting evidence enough to prove to the American people if the election was rigged or not.
So why was no one concerned, even not SCOTUS?
Of course the democrat party would not be concerned as they won.
Remember what God said – “what can be shaken – will be shaken”.
I believe this election fraud must be resolved and has to be resolved.