CBI/US Treasury Meeting = New Rate!?💣Iraqi Bond!🤔Iraq Dinar RV Updates |...

"RV UPDATE" BY FRANK26, 2 DEC

  Frank26  

 Why are all these countries, why are all these companies saying such great and wonderful things about Iraq and Sudani when they never did before?  Why is it that parliament is saying beautiful things about reforms and the success of it that Sudani has had?  There is a change in your [Iraqi citizens] monetary policy.  Your monetary sovereignty is coming to you before '24.

Can the CBI, Alaq and the board of directors reduce the exchange rate of the American dollar? 

 No, of course not.  They don't have jurisdiction to do that.

  Who can do that? 

 The US Treasury.  Alaq and Sudani said to the citizens, 'Private banks will give support to the Iraqi citizens by reducing the dollar exchange rate.'  What that means is they're going to give value to the Iraqi dinar...It reduces the value of the American dollar in the country of Iraq. 

Every day those that were against it [The dinar/monetary reform], those that were negative like parliament are complimenting and cheering on what is about to happen.

  Everyday they come up with new ways of saying the same thing.  Article: "Advisor to the prime minister: Economic policy in Iraq is moving towards implementing the principle of monetary sovereignty"  

MONETARY SOVEREIGNTY... ANOTHER BEAUTIFUL WAY OF SAYING WE HAVE A NEW CURRENCY.

Question:   "Do I need my receipt when I go exchange my Iraqi dinar?" 

 The answer is no but you will need your receipt if you are ever audited to determine the tax bracket that they would charge you under.  [Note:  Speak with your tax professionals at the appropriate time to determine the right tax for your unique circumstances.]

Deputy: Most of the problems of the region and the center are due to the lack of an oil and gas law, 1 DEC

 Deputy: Most of the problems of the region and the center are due to the lack of an oil and gas law

According to Sharif Suleiman, representative of the Kurdistan Democratic Party, the ongoing issues between Baghdad and Erbil are mainly due to the lack of an oil and gas law. Suleiman stated there is a push to pass this legislation and resolve the problems.

Suleiman stated, “What makes me optimistic is that all political parties acknowledge the significance of the oil and gas law. Moving forward with its legislation within the Parliament has become necessary.”

He emphasized that given Iraq’s dire need to legalize oil, gas, and natural resources, the approval of the aforementioned law should be expedited at the current stage. This will ensure that all governorates receive their fair share and obtain their rights.

Most of the disputes and problems between the central government and the regions arise from the absence of a comprehensive oil and gas law. Efforts are being made to pass this law in a manner that benefits all parties involved and ensures the rights of the oil-producing provinces. If the oil and gas law is approved, it may be necessary to amend the budget law to ensure compatibility with its provisions.

SUDANESE ADVISOR: REFORMING THE ECONOMY BEGINS WITH THE GOVERNMENT BANKING SECTOR WITH COMMENTS OF MNT GOAT, 2 DEC

 SUDANESE ADVISOR: REFORMING THE ECONOMY BEGINS WITH THE GOVERNMENT BANKING SECTOR

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Tuesday, that the economic policy in Iraq is moving towards implementing the principle of monetary sovereignty, and while he pointed out that the informal exchange market represents only 10% of trading, he stressed that it cannot be controlled The currency of a country other than the dinar with pricing within the country; Because monetary duality has harmed the economy, he pointed out at the same time that there is a tendency to diversify currencies for travel purposes and not be limited to the dollar.

Saleh told the official agency, “Economic policy in general and monetary policy in particular are moving towards a new principle called (monetary sovereignty), which considers the Iraqi dinar the only refuge for exchange, pricing, and coverage of internal transactions.”

He added, “It is not permissible for the currency of another country whose monetary policy is subject to pricing and trade exchange operations within the Iraqi economy, and the principle of monetary sovereignty starts from this level.” 

He continued, “The problem in Iraq is the existence of two exchange markets: the first is the regular one in which exchange takes place through the central bank’s platforms, which prices the exchange rate at 1,320 dinars to the dollar as a stable and official price and defends monetary policy.” 

He explained, “The second market is irregular, representing 10% of the trading rate. It is an uncontrolled market controlled by speculators and adds noise to the Iraqi economy as a whole.” 

He pointed out, “There are two things: The first is commodity diversification, which the government has begun through baskets supporting livelihoods, including the food basket, which has achieved stability in the prices of materials, as well as the medicine basket, a construction basket, and another basket for reserve materials that the Ministry of Commerce will launch soon. These are funded at the official exchange rate and help… Stabilize prices and counteract the noise introduced by the informal market.” 
He stressed that “dealing in the dollar (dollarization) and its pricing of the internal economic movement is what is most harmful to the economy, but there is no harm in covering external transactions exclusively and through official platforms.” 

Saleh pointed out, “On this basis, government policy and the policy of the Central Bank moved towards not relying on one country’s currency in foreign transactions and diversifying those currencies such as the Emirati dirham, the Turkish lira, the Chinese yuan, the British pound, and the euro, in addition to the dollar. This diversification reduces the dollarization of the economy and gives it great independence.” 

He stressed, “This diversification can be generalized at the level of selling foreign cash currencies for travel purposes and according to the currency of the country to which one is traveling. This will greatly reduce the demand for the dollar as a single currency in transactions, and the monetary and commodity diversification adds independence to the Iraqi economy.”

Regarding Iraq’s steps to provide these currencies, Saleh said, “The monetary authority in Iraq is independent and there is a wide consultation circle between it and the government. This is happening for the first time to open banking arrangements with central banks in countries that have a commercial partnership with Iraq, such as the Emirates, Saudi Arabia, Turkey, and China, and it is possible to cooperate with these countries.” Directly in their national currencies to achieve ease of conversion and exchange to finance trade and the movement of goods, supported by a stable exchange rate of 1,320 dinars, which allows for achieving stability and monetary sovereignty.”

He pointed out, “The demand for foreign currency is linked to the demand for goods and external transactions. It is dangerous to use the dollar to cover internal transactions, and monetary double-dealing has harmed Iraq. This must end, and it does not mean not providing foreign currency to citizens for the purposes of financing foreign trade or for the purposes of travel and tourism. Therefore, there are steps.” This is a major regulatory change aimed at achieving diversification through agreement with several countries with which transactions are conducted.”

He stressed, “The state has large commercial arms, and whenever it finds that there are needs affected by secondary market noise, the commercial apparatus intervenes to expand its dealings, supported by a stable exchange rate, as well as in cooperation with Iraqi merchants.” 

Regarding the government’s steps to strengthen the banking system, the Prime Minister’s advisor said, “There is a large team headed by the Prime Minister that directly supervises the reform of the banking system, and the largest system is the government system, whose assets dominate 85% of the assets of the banking system in Iraq, so the reform begins with government banks.” We are working on this seriously, and during the next 6 months the results of this reform will appear, and there will also be work in parallel to reform the private banking system, and there is a strong movement and cooperation in this direction with the associations of private and Islamic banks.”

He stressed, “The Prime Minister’s philosophy confirms that economic reform cannot be achieved without reforming the banking system, and therefore the priority begins with reforming the financial system.”

(Gee Whiz…  isn’t what I have been saying all along. Now we have it in writing. So what comes first the chicken or the egg? What comes first rebuilding the economy or the means to do it? Iraq cannot move ahead with rebuilding the economy unless it has an international currency and this article today tells us why. The rate of the dinar must reflect the true value of the wealth of Iraq and then they can attract investors but only after implementing the needed banking reforms and the currency reform is part of the banking reforms. After witnessing the changes in Iraq over this last year you are not yet convinced the dinar must be reinstated first to a revalued rate, a true and honest rate. We are NOTwaiting for the rate to rise slowly as the economy is being rebuilt. Get it now?)

         Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,

                                             Just the FACTS!

Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.

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

🔥Iraqi Dinar🔥WOW! WOW! WOW!🔥News Guru Intel Update IQD Value to USD🤑💵🤑🎉

"RV UPDATE" BY MILITIAMAN, 1 DEC

  Militia Man:

  ...Iraq is going International big time…Iraq is considered to be one of the world’s wealthiest nations with vast reserves…They have the money they need for a new real effective exchange rate. With the oil, natural gas, sulfer, precious metals etc…they can afford it. 

 All the data we've had in the last two weeks has been pretty much phenomenal because it sets the stage of so many things that converge on one another.

 A number of bankers I know are seeing “Pending” on the screens instead of “on hold” .   Which is what they have seen on a number of currencies…  So for the first time bankers are reporting seeing pending now.  Depending on the bank…different rates are showing like $4.50 or $4.60 on the dinar.  We don’t know if this is a test…or this is “it”. We don’t know if they are priming or prepping the system.

 ”Central Bank Governor: Washington responds to all that Iraq needs in terms of dollars and meeting with it next month 28th of Nov.”  This article was from yesterday.  Quote:  “There are no restrictions on Iraqi funds abroad”  This is what we call “International”  Awesome things are coming out of Iraq.  Question:   I am hearing that a Dinar rate announcement is likely in the next couple days...are you hearing the same with reason for confidence?   MarkZ:  I am hearing that.

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-militiaman-markz-30-nov.html

..A new exchange rate...will likely be coming quickly now. The salaries will need it, the budget spending for projects will need it, getting into the international global financial system will require it.

 Article:  "The dollar exchange rates are subject to the forces of supply and demand in the market"  By adding other currencies from around the world they're going do diminish the need for the dollar and therefore it's basically going to go away...these guys are not playing games anymore...The US Treasury, Central Bank of Iraq, US Federal Reserve they are all working towards going one direction and that's to enhance the Global Financial System...

Article:  "The highest among the Gulf countries.. The Arab Monetary Fund expects the Iraqi economy to grow by 4.5%"  

There is likely no doubt that Iraq is about to have massive growth going forward. To be the highest just now among all middle eastern countries is going to be a big deal. I suspect the ISX is going to be on fire this next year even more so than ever before..

 There's things happening as we speak - one thing after another.  I can't imagine anybody being discouraged at this time because of the nature of what's happening

Article:   "Ministry of Transport intends to open direct airlines towards Australia, America, Malaysia" 

 It's not just about a few regional countries.  It's about many different places.  Once you start opening up the airports all the investors can gain access to the country to take charge of their investment, produce their businesses.  It's a really big thing to have an international airport full...they have their capacity...what they're using today is at 100% and they're not even international yet...

They're saying it's done.  I really like that.  I think you guys should be happy about it because if all the currency swaps are taken care of...I think it's a precursor to an exchange rate change in the future.

Article:  " With the participation of 120 companies...the launch of the Iraq International Building, Construction and Infrastructure Exhibition "

  This...being launched in Baghdad for the next few days is not surprising at all on the back of all the WTO meetings...since Oct 31st regarding Iraq's accession to the organization.

 The 2023-2024-2025 budget is about investment primarily into infrastructure.  It takes a lot of capital to build a country back...It will take massive amounts. It is far too expensive with 1310 exchange rate. An internationally accepted REER will likely make it far cheaper.

What's the exchange rate crisis?  It's been at 1310 since the early part of 2023.  They devalued to 1460 then they adjusted it by 10%.  What's not good about that?  What did it prove?  That adjustment the World Bank was talking about of 10.3% is actually a positive sign because what did it do?  It staved off inflation...There's some positive aspects to some of these things...Revaluations happen.  They need to be tested.

Article:  "Alaq says the rise in the exchange rate in his time and the project to delete the zeros still exists"   When was that?  July 26, 2023.  The plan is still underway, hasn't changed.  It's a dynamic and fluid circumstance.  We had the Bank of International Settlements come out and talk about highly complex financial transactions ...shocks, warning people...we can see there's some fireworks going on...in the background.  

We're hoping Iraq will show us they have Article VIII compliance any time now.   Let's see what happens...

 Article [via MeetMeOnline] quote: 

 "Easing of global commodity prices, the revaluation of the dinar, the continued price subsidies are projected to keep inflation in check..." 

 This is coming from the World Bank...price subsidies are projected to keep inflation in check because of why?  Because of the revaluation of the dinar...The World Bank are the ones talking about the revaluation of the dinar and the revaluation will help facilitate [many things] ...

  Article quote:  "Many countries in the region and the world have expressed a great desire to participate in this project [Iraq's Development Road Project] especially since it will be the most appropriate, shortest, least expensive way to transport goods between the continents of Asia and Europe"

  It's going to be a major hub of the globe and you're thinking that Iraq can't ever revalue their currency?  I think that is just flat-out silly.  To think that it's not going to ever happen...the news speaks for itself...

https://dinarevaluation.blogspot.com/2023/11/iraq-news-analysis-by-militiaman-27-nov.html

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-militiaman-26-nov.html

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-militiaman-25-nov.html

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-militiaman-24-nov.html

The Sudanese wants to end internal dealings with the dollar, and “dollarization” has been a legacy since 1982.. His advisor, 1 DEC

 The Sudanese wants to end internal dealings with the dollar, and “dollarization” has been a legacy since 1982.. His advisor

On Thursday, Mazhar Muhammad Saleh, the financial advisor to the Prime Minister, revealed the priorities of the national project initiated by Prime Minister Muhammad Shiaa Al-Sudani to tackle fluctuations in the dollar. He stated that the project’s ultimate objective is to eliminate the practice of “dollarization,” which refers to using dollars instead of dinars for internal transactions. This legacy practice has existed since 1982 and must be ended to ensure monetary sovereignty.

Saleh issued a statement to the official agency, which was later reported by Network 964.

The process of organizing external transfer requests by banks needs to consistently meet international compliance standards for due diligence.

Certain Iraqi banks still fall short of the required global standards, as they act as intermediaries in the purchase of foreign currency for the commercial community. Due to this, some requests are being rejected, leading to a surplus demand, which may result in illegal financing in the informal secondary market.

The current economic policy is aimed at maintaining price stability by ensuring a consistent supply of commodities at stable prices. This is part of a national initiative launched by the Prime Minister to safeguard the standard of living and protect citizens’ real income from price fluctuations.

The government has partnered with the private sector to introduce four new baskets aimed at enhancing the range of goods available. These include a food basket, a pharmaceutical basket, a building supplies basket, and a reserve materials basket which contains commonly used items, particularly in the transportation sector.

It is crucial to safeguard Iraq’s monetary independence and eliminate the practice of using foreign currencies to assess domestic transactions. Dollarization has been a long-standing issue since 1982, and using the dollar for internal settlements, purchasing and selling of goods, services, renting, and contracts within the national economy is illegal. It is important to end this practice to ensure compliance with the law.