FIREFLY: It's a campaign. They are doing this constantly. They keep telling us they want to build up the dinar and make it the gateway of the country. That's what they're telling us - Strength.
FRANK: Is this strength at a program rate? Of course not.
FIREFLY: Did you see this [sends video]? …They are talking about how the dinar is about to become stronger. Then a commercial comes out talking about how strong the dinar is already and will be even stronger very soon…It’s about the strength of the dinar, telling them to use it for everyday things and will only get stronger and stronger.
FRANK: You better be ready Iraqi citizens! In my interpretation of it…This is part of the monetary reform education they are teaching the Iraqi citizens that they will soon have value added to their currency…
Community comment: “The future of Iraq is on the conference table in Dubai.”
You better believe it is…It doesn’t get any more plainer. It doesn’t get any more obvious.
FIREFLY: It’s a campaign they told us today. They keep repeating it over and over. It’s a campaign they are doing they say to build up the dinar, to make it the gateway of the country. That’s what they’re telling us. They’re adding strength to our currency.
FRANK: I know what they are trying to tell you… Is there strength in a program rate? Of course not. They’re preparing you…
Shafaq News / Iraq topped the list of Arab countries exporting oil to America, during the month of last October.
Data issued by the US Department of Commerce, seen by the Sfaq News Agency, indicated that the value of Iraq, Saudi Arabia, Libya and the UAE’s oil exports amounted to $1.58 billion to America last month.
Total crude oil exports to 4 countries: Iraq, Saudi Arabia, Libya and the UAE to the United States amounted to 18.687 million barrels in October, worth $1.581 billion.
Iraq tops the list of Arab oil-exporting countries to America in October, where its exports amounted to 574.86 million dollars for quantities of about 7.48 million barrels, while last September 7.5 million barrels were issued at $553.35 million.
Saudi Arabia came in second place with oil exports of 7.316 million barrels last month, worth $674.16 million, while its exports during September amounted to about $873.75 million, amounting to 9.972 million barrels.
Libyan oil exports to America in October ranked third in the Arab at 2.287 million barrels, worth $200.165 million, compared with 1.645 million barrels worth $137.884 million in September.
The UAE ranked fourth by exporting oil to the United States last month with a value of $132.201 million, and in quantities of 1.599 million barrels, while its exports to the United States in September amounted to about $131,651 million, with an amount of 1.598 million barrels.
Total UAE oil imports during the first four months of this year reached 1.427 million barrels with a total value of $123.169 billion.
US data showed that oil imports in the United States last October amounted to about 185.519 million barrels worth $14.582 billion, while in September it amounted to 193.445 million barrels worth $14.8 billion.
I was told discussions conducted by a joint Iraqi delegation (the government, the central bank, the Association of Iraqi Private Banks, and the banking sector represented by a number of private banks) were completed in Istanbul returned to Baghdad on Friday.
Then this article pops out.
The article told us about the meeting and the implementation of the banking arrangements agreement that were concluded with Turkey, last week, it started and I quote from the article – “covering imports from retailers Turkey in tens of millions of euros, through Iraqi merchants paying in Iraqi dinars and the Central Bank strengthening them in euros to settle with Turkish merchants in Turkish lira.”
In other words, the merchants are now able to pay for imports in dinars and the CBI is backing them with Euros and Lira.
Sort of like a temporary peg for the dinar but right now only with Turkey, as per an agreement.
But soon this too will change.
Iraq is paying for imports in dinars.
We have been waiting for this news for so long now, almost 17 years.
We also previously heard that Iraq is trading with Iran in dinars too.
The CBI is also backing a % of them with Euros.
Why are they backing the dinar with Euros and Lira or any other currency?
Until they reinstate the dinar into the new basket of 6 currencies, the CBI must back the dinar with something as part of their agreements.
Remember using the dinar right now at 1/6 of a penny is not exactly the perfect situation.
Also remember many middle eastern countries still look at Iraq as a bit unstable with the Iranian militia and US Army forces still occupying the country.
So, this too has to change soon and we can clearly see the urgency to do so.
What else is significant about this latest news?
We know the Iraqi dinar is now off the dollar peg and this is yet more proof and confirmation of that FACT.
So, the CBI is using Euros and Lira currencies but staying away from the dollar as a temporary peg measure.
This may vary depending on what country they are doing business with.
But this is all VERY GOOD news as this is how international trade should work and not use currency auctions and a sanctioned suppressed rate solely pegged to any currency such as the US Treasury did in 1991 with the Iraqi dinar to the US dollar.
But the good news is that it is now time for Iraq to bounce back and stop licking its wounds.
It is time to lift the remaining sanctions against the dinar namely the OFAC sanctions by the US Treasury which prohibit it from being reinstated on the global currency trading platforms.
Oh but this too is about to change and is coming shortly.
Remember that in the Iraqi Shafaq News last week there was an article encouraging that the dealing with the local currency dinar, under the current economic conditions in the country, is an important issue, especially with the government’s tendency to “strengthen” the Iraqi dinar against other hard currencies, especially the dollar, as well as seeking to present it first in order to be a “issue of a homeland” in a real way.
So just recently Iraq now began broadcasting news in-country to the citizens that the dinar is an “issue of a homeland” in a real way.
This video below is a patriotic video, it is telling the people that the dinar is valuable and will revitalize the nation.
If you pay attention to the scenes in the video you will see schools, construction sites, businessmen and woman, bankers etc.
It DOES NOT say the dinar is going to be stronger than the dollar, but it does tell the citizens they should be very proud of their national currency and that it is very valuable.
So, now showing you evidence that something BIG is about to happen with the dinar.
2023-2024 – Iraq national campaign to revitalize the dinar
In the article from last week the government also is encouraging in dealing in the dinar in all daily transactions, the dinar is called “to be a door to build the country again, and seek to strengthen and promote the Iraqi economy, and reduce dependence on other foreign currencies”, so that according to government trends is fixed and the rest are variables, so that the dinar is a gateway to sustainable development and prosperity at all levels.
I noticed every once in a while, there is news about the hoarding of dinars and they tell us how much is estimated to be in circulation but outside the banking system.
However, what makes today’s article unique is that it talks about what I believe are our dinars as investors abroad, outside of Iraq.
They must collect our dinars too and take them into account, which it sounds like they are now doing.
Its all good news.
Still no newer lower denominations but we are getting very close to the timeframe I was told for the process of the currency swap out to begin and the final program rate change necessary to conduct it.
Let’s see what happens in the coming weeks.
As you may have read that since the Israeli / Hamas war began last October, we have seen a surge of bombings of US military bases in Iraq.
But who is responsible for these attacks?
We are witnessing a lot of false information on the attacks of the US bases in northern Iraq.
Like I told everyone these Iranian militia are going to ultimately cause trouble and should be kicked out of Iraq altogether.
So, we also see US Ambassador Alina Romanowski’s tweet about justifying the bombing of the Popular Mobilization Forces is a transgression against the blood of Iraqis.”
This too in Iraq is not helping the situation.
This has caused cries to expel her from the embassy.
We can see yet more pressure to remove the US armed forces from Iraq.
These sentiments also come on the heals of the push for more control by Iraq of its reserves from the US banks in America.
This is all predicated on the fact that all sanctions are supposed to be lifted from Iraq as of last December 2022 so why still have many of these sanction-like provisions of the currency are monetary reserves in place?
Here it is almost mid December already and so if the CBI is truly going to reinstate the dinar in early January of next year, we must hear some good news about the currency sway very soon..
Iraq Asserts Commitment to Sovereignty Amidst International Tensions
As the world navigates a complex web of international relationships, Iraq’s Prime Minister, Mohammed Shia’ al-Sudani, has publicly reaffirmed his country’s commitment to maintaining its sovereignty and ensuring the safety of advisors and diplomatic missions on its soil. This assertion comes amidst a backdrop of unspecified events potentially infringing on Iraq’s sovereignty, highlighting the delicate balancing act that the nation must perform on the global stage.
A Message of Assurance
In a statement that strongly emphasized his government’s dedication towards safeguarding the country’s reputation, Prime Minister Al-Sudani pledged to protect diplomatic missions, rejecting any violation of Iraq’s sovereignty. This vow reiterates Iraq’s dedication to uphold international norms, thereby promising to deal with any perpetrators of attacks on missions in accordance with the laws and the security interests of Iraq.
Unspoken Tensions
While the specific incidents prompting this declaration were not detailed, it is noteworthy that U.S. military bases in Iraq and Syria have recently become targets of attacks by armed Shiite militias. This suggests a retaliatory response to U.S. support of Israel in the ongoing conflict with Hamas in the Gaza Strip. As such, this situation underlines the complexity of Iraq’s position amidst international tensions and conflicts.
International Relations in the Spotlight
Prime Minister Al-Sudani’s conversations with British Foreign Minister David Cameron further underscore Iraq’s commitment to international diplomacy. The prime minister confirmed Iraq’s resolve to protect diplomatic missions and pursue perpetrators of attacks, expressing Iraq’s refusal to tolerate any violation of its sovereignty. Cameron expressed his appreciation for Iraq’s stance, signaling a mutual ambition to develop relations and expand partnership horizons.
Indeed, as Iraq navigates a complicated geo-political landscape, it faces a multitude of challenges. It finds itself caught between Iran and the U.S. as Iran-backed factions in Iraq have launched attacks on U.S. military facilities. This delicate situation, coupled with Iraq’s reliance on the U.S. for aspects such as electricity from Iran and foreign currency reserves, presents a challenging scenario for the Iraqi government. As the world watches, Iraq remains at a crossroads, endeavoring to maintain its sovereignty while balancing international relations.
Lebanese Source Accuses Israel of Deliberately Targeting International Forces
In a major development, a leading Lebanese political figure has pointed an accusing finger at Israel, alleging a deliberate targeting of international forces (UNIFIL) and Lebanese Army units stationed in South Lebanon, specifically south of the Litani River. The accusation surfaces amid claims that these attacks were not incidental but premeditated.
Israel’s Alleged Double-Barrelled Message
According to the source, Israel’s repeated aggressions are a calculated attempt to relay two significant messages. The first is aimed at UN Secretary-General Antonio Guterres, a response to his invocation of Article 99. This article warns of the perils to civil peace posed by Israel’s ongoing war on Gaza, its impact on Red Sea maritime navigation, the Houthi’s prevention of Israeli-flagged or Israeli-owned ships from sailing, as well as the bombardment targeting American military bases in Syria and Iraq.
The second message seems to target the Lebanese Army’s leadership, with an attack resulting in the death of a corporal and the injury of four soldiers.
Multiple Purposes Beyond Accusation
The source implies that Israel’s actions serve multiple purposes beyond mere accusations of collusion between Lebanese Army units and UNIFIL. This is despite the fact that Hezbollah and some Palestinian factions allied with the ‘Axis of Resistance’ have launched rockets at Israeli settlements in Northern Occupied Palestine, near the Lebanese border, without any intervention from UNIFIL or the Lebanese Army to prevent them.
European Envoys’ Advice and UN Resolution 1701
Interestingly, European envoys to Lebanon have advised against being lured into the war from Gaza to the northern front, warning of Israeli Prime Minister Benjamin Netanyahu’s potential to provoke Lebanon into a war. The envoys have also emphasized the importance of abiding by UN Resolution 1701 and do not suggest any amendments to it.
However, the political path to implementing Resolution 1701 remains unclear, considering the escalating military confrontation between Hezbollah and Israel along the northern front. This situation pushes towards violating the rules of engagement without leading to any modifications of those rules as long as the situation remains under control.