The inflation for Iraq is artificial inflation. You go back and look, How many customers did Iraq have back in the day? How much oil were they selling? What was the value of the currency back in those days? $3.22 value. How many customers do they have today?
They have way more customers. They have more production. The price per barrel is more than in those days when it [the dinar] was $3.22. It's not a market bearing inflation, it's artificial inflation. They have more customers. They have a bigger reserve than they've ever had. One of the biggest in the world for the US dollar. That's the reality that you're looking at. You are sitting on a gold mine.
Question: "Why is the dinar still available for sale?" I'm assuming [you mean] internationally. Because of good ole fashioned capitalism.
The Central Bank of Iraq will issue currency worth 24 trillion Iraqi dinars during 2022 and 2023.
The Central Bank of Iraq will issue currency worth 24 trillion Iraqi dinars during 2022 and 2023The Central Bank of Iraq issues currency worth 24 trillion Iraqi dinars during 2022 and 2023. According to data from the Central Bank of Iraq, the value of the issued cash currency increased from 78 trillion dinars at the beginning of 2022 to reach
more than 102 trillion dinars at the end of 2023, with a growth rate in the issued cash currency amounting to 9.24% during the year 2023, and a growth rate in 2022 of 20. %, an increase over the year 2019 by 58 trillion Iraqi dinars.
In contrast, the cash currency outside the banking system amounted to approximately 93 trillion Iraqi dinars, an increase of 30% compared to 2022, which is the highest volume of money available outside the banking system throughout the history of the Iraqi banking system.
According to data from the Ministry of Planning, the population of Iraq has reached In 2023, there will be approximately 43 million people, representing only 60% of them over the age of 15 years. Therefore, the number of Iraqi residents whose age is more than 15 years exceeds 26 million people, and based on the figures of the Ministry of Labor, which indicate that the size of social welfare beneficiaries is about 14 million
people, The number of adult Iraqi citizens who are not covered by social care is about 12 million people,
and according to data from the Ministry of Labor, the Ministry of Planning, and the Central Bank of Iraq, it can be concluded that the average value of each Iraqi’s 12 million people hoarding money in the Iraqi currency is approximately 7.2 million Iraqi dinars per citizen, which is higher than in 2019, which is It was approximately 4 million Iraqi dinars,
and considering that each home contains at least two adults (a man and a woman) who are not covered by social care, the rate of each Iraqi home’s hoarding of money exclusively in the Iraqi currency amounts to 15 million Iraqi dinars, which is a higher percentage than in 2019, which was approximately 8.12 million Iraqi dinars. Based on these official figures issued by official authorities, every adult Iraqi citizen over the age of 15 (man and woman) who does not benefit from social welfare was able to increase his money stored in Iraqi dinars by 1.2 million Iraqi dinars during the years 2022 and 2023, despite the decline in the value of the dinar compared to the dollar in the local market.
In addition to the rise in commodity prices and the rise in inflation rates by 4%, according to data from the Ministry of Planning,
hoarded money is defined as the value of money that a person keeps away from the banking system and does not invest it or buy his own assets, but rather keeps it away from financial institutions and in the Iraqi currency exclusively and not by working. The other.
Some believed that these numbers may be illogical and that Iraqis are suffering from a major shortage of funds and deteriorating social conditions, but what is certain is that the Central Bank of Iraq has exported more than 24 trillion Iraqi dinars in two years, and that most of these data
were hoarded by adult citizens and non-beneficiaries of social welfare.
It leads to a set of questions
– What is the need for the Central Bank of Iraq to issue more than 24 trillion Iraqi dinars within two years, representing 25% of the total cash currency issued??
– What is the strategy of the Central Bank regarding the issued cash currency and to what level will the cash currency reach, especially with the rise in the issued cash currency to more than 102 trillion Iraqi dinars?
– Why did the 22 trillion Iraqi dinars leak from the banking system and went to the easier explanation, which is “hoarding,” despite the commercial procedures that ensure the necessity of dealing with the banking sector
? – Why was the banking sector unable to attract the funds that exist outside the banking system, amounting to more than 93 trillion Iraqi dinars, despite The high interest rates offered by the Central Bank and the high interest rates on deposits offered by
Iraqi banks, which are considered among the highest interest rates compared to the existing inflation rates??
– Did the Iraqi citizen hoard more than 15 million Iraqi dinars exclusively in his home without trying to invest it, even though the Iraqi citizen’s pattern of consumption indicates his orientation toward consumption rather than his orientation toward conservatism
and hoarding, and this appears clearly through the high import bill for various goods??
– What are the methods that the Central Bank will work on to attract cash that exists outside the banking system, since the operations of issuing financial bonds, raising interest rates, and trying to reassure the public through deposit guarantee mechanisms have not been able to attract a large number of this money to the banking sector??
– As for the Ministry of Labor, is the number of beneficiaries of the social protection system really in need of this money, or is there a big play in the number of those in need of necessities that are not at all related to social protection?
All of these questions need answers to know whether the Iraqi citizen actually hoarded 15 million dinars in his home, or whether his coffers are empty and that whoever is hoarding Iraq’s money “internally or externally” has placed it in a very large safe that no one can access the exported Iraqi dinars.
China, Russia, the Middle East and Trump will make a financial system to rival BRICS, but eventually after The Storm, they will all be working together to better the World. The best is yet to come.
The Chinese Elders were composed of different multigenerational Chinese families living in the Philippines who over centuries, owned and held responsibility for around 90% of the world’s gold, lending it out to countries for establishment of their financial systems. There were five top Chinese Elders who were responsible for the Global Currency Reset and RV release of funds.
BRICS was an alliance of the nations of Brazil, Russia, India, China and South Africa formed in 2008 after the so-called US “Mortgage Crisis.” In reality the crisis happened when the Cabal continued to print fiat US Dollars while bankrupt and unable to even pay interest on gold borrowed from the Chinese Elders which backed that US Dollar, the basis for international trade. In the ensuing years since BRICS formed, they evaluated gold and resources of 209 nations in preparation for a Global Currency Reset. After the GCR all countries currencies would be at a 1:1 with each other instead of relying on the fiat US Dollar for international trade.
An organization estimates that there are 90 trillion dinars outside the banking system
The “Future Iraq” Foundation for Economic Studies and Consultations counted the local currency circulating outside the country’s banking system during the year 2023, and said that it exceeded 90 trillion dinars.
The institution stated in a report that the value of the issued cash currency increased from 78 trillion dinars at the beginning of the year 2022 to reach more than 102 trillion dinars at the end of the year 2023, with a growth rate in the issued cash currency amounting to 9.24% during 2023 and a growth rate in 2022 amounting to 20%, an increase over the year. 2019 by 58 trillion Iraqi dinars, according to data from the Central Bank of Iraq.
The report added that the cash currency outside the banking system amounted to approximately 93 trillion Iraqi dinars, an increase of 30% compared to 2022, and it is the highest volume of funds existing outside the banking system throughout the history of the Iraqi banking system.
According to data from the Ministry of Planning, the population of Iraq in 2023 reached approximately 43 million people, representing only 60% of them over the age of 15 years. Therefore, the number of Iraqis’ population who are more than 15 years old exceeds 26 million people, and based on the Ministry’s figures Work, which indicates that the size of social welfare beneficiaries is approximately 14 million people, while the number of adult Iraqi citizens who are not covered by social welfare is approximately 12 million people.
The report indicated that, based on data from the Ministry of Labour, the Ministry of Planning, and the Central Bank of Iraq, it can be concluded that the average value of each Iraqi’s 12 million people hoarding money in the Iraqi currency “exclusively” is approximately 7.2 million Iraqi dinars per citizen, higher than the year 2019, which was approximately 4 million. Iraqi Dinar.
According to the Foundation, considering that each home contains at least two adults (a man and a woman) who are not covered by social care, the rate of each Iraqi home hoarding money exclusively in the Iraqi currency amounts to 15 million Iraqi dinars, which is a higher percentage than in 2019, which was approximately 8.12 million dinars. Iraqi.
The report noted that, based on these official figures issued by official bodies, every adult Iraqi citizen over the age of 15 (man and woman) who is not a beneficiary of social welfare was able to increase his money stored in Iraqi dinars by 1.2 million Iraqi dinars during the years 2022 and 2023 despite From the decline in the value of the dinar compared to the dollar in the local market, in addition to the rise in commodity prices and the rise in inflation rates by 4%, according to data from the Ministry of Planning.
Hoarded money is defined as the value of money that a person keeps away from the banking system, and does not invest it or buy his own assets, but rather keeps it away from financial institutions and exclusively in the Iraqi currency and not in other currencies.
The institution concluded in its report that some believe that these numbers may be illogical, and that Iraqis are suffering from a major shortage of funds and deteriorating social conditions. However, what is proven is that the Central Bank of Iraq has, in two years, exported more than 24 trillion Iraqi dinars, warning that more Of the 22 trillion Iraqi dinars that were hoarded by adult citizens and non-beneficiaries of social welfare. link
Security observer: The Sudanese has an opportunity to negotiate with the Americans on one condition
Security observer - The Sudanese has an opportunity to negotiate with the Americans on one conditionInformation / Baghdad..
Political observer Sabah Al-Ugaili confirmed on Sunday that the continued Iraqi resistance strikes on American bases in Iraq are an opportunity for the Sudanese to open new negotiations with the American side on the condition of obtaining reassurances regarding withdrawal from the country.
Al-Aqili said in a statement to Al-Maalouma, “The tweet of the security official of the Hezbollah Brigades, Abu Ali Al-Askari, is tantamount to conveying the point of view of all the Iraqi resistance factions, as they still believe the presence of the American forces to be occupying forces and must be removed by force.”
He added, “Iraq is facing a scenario similar to the Maliki government, where there were continuous strikes and ongoing negotiations. Therefore, the Sudanese must exploit the circumstance and conduct negotiations with the American side without giving them assurances. Rather, he takes assurances from them to withdraw and within a time limit.”
Al-Ugaili called on the national forces within the House of Representatives to “issue a resolution confirming its previous decision and setting a time limit for the American withdrawal from Iraq.”
He pointed out that “this decision will certainly be a strong support for the Sudanese government in its negotiations with the Americans.”
American aircraft bombed several headquarters of the Popular Mobilization Forces in Jurf al-Nasr and Kirkuk in recent days, leading to martyrs and wounded.