The IMF is telling the world that the CBI is about to add value and change the exchange rate. Congratulations. As far as I'm concerned the announcement was just made.
Article: "IMF Staff Concludes Staff Visit with Iraq" FROM THE IMF, FROM THE HORSE'S MOUTH... GIVES PERMISSION TO PULL THE FINANCIAL LYNCHPIN ON THE GRENADE OF THE MONETARY REFORM!
[Iraq boots-on-the-ground report]
FIREFLY: Sudani has statement to us citizens to be on watch for change in the dinar pricing for goods in our market.
FRANK: Realize that Sudani is telling you there is a change coming to the exchange rate of your sovereign national currency...He told you to look for it. That is simply amazing. It is part of the monetary reform education that is so loud even the man on the moon can hear it.
FIREFLY: Sudani didn't say the amount of the change that will occur, whether it was small or large. He just told us to watch in our markets for the dinar to increase and the plan they had to devour the parallel markets is all but complete.
FRANK: [Happy fist pump yes!] How much time is there left!?
Mawazine News – Baghdad The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Friday, the continuation of financing foreign trade in several foreign currencies in addition to the dollar. While he indicated that the banking sector’s implementation of compliance rules strengthens Iraq’s financial position globally, he pointed out that there is an international welcome from the US State Department. And the International Monetary Fund, with the measures implemented by the bank that strengthened the banking sector’s commitment to these rules. Al-Alaq said, “The Central Bank followed a plan that included mobilizing all requests for the dollar within the proper and fundamental channels, while attracting all merchants, importers, and those in need of external transfers within these frameworks and channels.”
He added, “The more the size of these channels and the number of participants expand in them, the more it affects two things positively. The first is the exchange rate and its stability, and the second is providing the correct compliance rules, which strengthens the reputation of the country and the banking sector externally and strengthens Iraq’s financial position globally. This matter is currently being done with an exceptional and great effort, as for the first time it is witnessing… Iraq: Reorganizing the external transfer process through correspondent banks instead of the central bank or the Federal Bank being the executive interface for this process.
He continued, “In fact, this process is not the best practice in the world. Rather, it is better for all transfers to be through a relationship between the local Iraqi bank and the external correspondent bank, and the central bank carries out the process of monitoring, supervising, and enhancing foreign currency balances abroad to cover these needs.” Al-Alaq stressed, “This matter was achieved by introducing a series of currencies into foreign trade, including the Chinese yuan, the Indian rupee, the euro, the Turkish lira, and the Emirati dirham, in addition to the dollar. Wherever there is a need that depends on the weight of trade between us and the country with which there is trade activity, we will use those currencies.” “.
He pointed out that “the US Department of the Treasury and the Federal Bank very much welcomed the central bank’s steps related to the use of correspondent banking channels, and also the application of compliance procedures and rules followed by the central bank. This also appeared in the recent International Monetary Fund report, which praised the central bank’s efforts within the framework of the banking sector’s compliance with anti-corruption rules.” Money laundering and terrorist financing.”
They were mopping up excessive liquidity. That's the 3-zeros of the Iraqi dinar and the American dollar. Even the dinar is a liquidity that had to be mopped up to collect the 3-zeros. They have accomplished that enough, now they are collecting the American dollar from their market.
As the days go by and we walk toward the 1st of this year IMO so far the monetary reform is keeping its word on their intent of adding value and introducing a new monetary system called the lower denominations.
The intent of the government of Iraq and the board of directors of the CBI is to eventually float. We see this information in the art
They have told them [Iraqi citizens] a change is coming. Do you need another clue? Come January 1st what are the citizens supposed to do?
What are they supposed to use? Should they continue to use a worthless currency? Should they continue to live in misery, poverty, when they were promised other things? Iraq will be another Dubai. What more can the CBI do after the first? Reinstate and float. That will make the Iraqi citizens very happy...
Why only [spend] 20% [of their budget] in 11 months? IOO they're waiting for a new exchange rate. They're going to use their currency...
pressure will be reduced on the citizens by adding value to their currency...Stop using the dollar on January 1, 2024 because the monetary reform education is the key and we're telling you what we are doing.
IMO they are telling them all so they will understand where the monetary reform process is at at this moment.
They have told them [Iraqi citizens] a change is coming. Do you need another clue? Come January 1st what are the citizens supposed to do? What are they supposed to use?
Should they continue to use a worthless currency? Should they continue to live in misery, poverty, when they were promised other things? Iraq will be another Dubai. What more can the CBI do after the first? Reinstate and float. That will make the Iraqi citizens very happy...
Why only [spend] 20% [of their budget] in 11 months? IOO they're waiting for a new exchange rate. They're going to use their currency...pressure will be reduced on the citizens by adding value to their currency...Stop using the dollar on January 1, 2024 because the monetary reform education is the key and we're telling you what we are doing. IMO they are telling them all so they will understand where the monetary reform process is at at this moment.
Why only [spend] 20% [of their budget] in 11 months? IOO they're waiting for a new exchange rate. They're going to use their currency ...pressure will be reduced on the citizens by adding value to their currency...
Stop using the dollar on January 1, 2024 because the monetary reform education is the key and we're telling you what we are doing. IMO they are telling them all so they will understand where the monetary reform process is at at this moment.
The 1st of January is when no other currency will be used by Iraqi citizens inside the country except their own currency. Don't you think that's a clue! They are pretty much telling you without telling you. Can you pick up on this intent? You don't have to be a detective to pick up on a clue like this!
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning, Good Afternoon or Good Evening- Depending on where you are at.
Mod: GOOD EVENING, HOPE THE DAY WAS GREAT FOR YOU ALL!!
Member: Mark, I heard the St. Germaine trust ready to be opened on Christmas???
Member: Yes St Germaine trust supposedly opens on Xmas..hope this is the year it finally does.
MZ: Its been fairly quiet on RV related news…
MZ: “The Chinese Yuan’s share of global payments climbs to a record high while US dollar’s share dips” This is huge. Now the 4 most popular ways to settle debt around the world is the USD, The Euro , British pound and Chinese Renimbi or Yuan.
MZ: “China and Russia have almost completely abandoned the US dollar in bilateral trade as the push to de-dollarize intensifies” More that 96% of the trade is now done in their own currencies.
Member: Mark Got info from my platform saying nothing until next year because of some percentage of redemption that someone wants.
MZ: Next year is only a week and a half away…but, I have not heard anything from any of my groups on that. We have seen a tremendous amount of disinformation over the last 24 hours in the bond side and group side. It is honestly to keep people off-kilter so they do not know what to expect for timing right now…...
Member: Mark, I am hearing some farm claims got paid. Coming to you to verify
MZ: What I am hearing on the farm claims is nobody has their full dollars…but a number of farm claim recipients got about a $150 deposit and were asked if the deposit went smoothly. 2 of my folks say the deposit came from the US Treasury direct. Which would make sense. Do I think farm claims have been paid?-No. But, do I think they are testing the system and the contact info for payouts……yes I do- that is what I think was done. .
Member: I bet they will be glad to work a holiday for the RV. They too have trained hard and waiting for this as well. Bless them all.
Member: Got interesting news today from a friend who went to his bank. They told him their system had been hacked, as well as other banks such as BoA.
Member: My bank atm was down since Jan 2023. Just last month they got a new one. fancy one lol
Member: Florida Currency Exchange in Tampa said the will exchange Iraqi Dinars if the revaluation occurs. then said he was restricted in what he could say.
Member: Just received about 30 minutes ago from one of my trusted sources that liquidity is confirmed. That's all I'm going to say about that. Stay grounded my friends. It's happening as we speak.
Member: Remember Kuwait said they were going to take months to RV in the morning….Then they RV’d later that same day?.
MZ: Yes they said they were 6-9 months off…then that same day-BAM
Member: Merry Christmas to all of you. If we don’t RV before 2024 everyone stay positive we will get there
Member: Merry Christmas and a Prosperous New Year to us all!!!! Praise God
Member: God bless you all Mark and Mods..Happiest of Holidays and you are all very special and blessed...
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BANK STORY WOMAN: I just spoke to a representative of the company for whom I purchased my currency. I asked, when the reinstatement occurs what happens from your end? She said when the revaluation occurs...we will be notified by the United States Treasury. We will then notify all of our customers.
FRANK: I find that interesting, so this bank is saying they have the addresses and phone numbers of the people they sold dinars to. Like I told you, they're going to come after you. They want you badly.
BANK STORY WOMAN: I was struck by the fact that she spoke of the RI as a matter of fact which will occur. She did not deny it.
FRANK: Like I've been saying to you sister, it's not a secret.
New Dollar Shipments May Reduce The Exchange Rate In Iraq
December 21, 2023 Last updated: December 21, 2023 Independent / - Iraq is awaiting new dollar shipments imported by government and private banks after the recent agreements between the Central Bank of Iraq and the American side. It is hoped that they will contribute to curbing and reducing exchange rates in the parallel market.
Although government sales are made at a price of 132 thousand dinars per hundred dollars, prices in the parallel market currently range between 153 thousand and 155 thousand per hundred dollars.
Central Bank And Government Actions
The head of the Association of Private Banks, Wadih Al-Handal, said, “The recent measures of the Central Bank of Iraq and the government, with regard to facilitating trade financing using new currencies, represented by the euro, the dirham, the Chinese yuan, and the Indian rupee, are a step that contributes to reducing the exchange rate of the dollar in the parallel market,” noting that “ “The regulation of trade financing carried out by the government and the central bank through the entry of other goods into the platform will lead to an increase in trade financing.”
He confirmed in a statement to his independent newspaper, Al-Sabah, that
“private banks are taking great steps in expanding international relations with international banks, which facilitates the financing of Iraqi trade with countries of the world,” explaining that
“the Prime Minister’s great support for the private sector is considered the beginning of reforming the economy.” "The Iraqi sector, especially since
the private sector is an important partner to the government, in providing services and jobs and reducing poverty."
Use the instructions of the Central Bank
For his part, economic expert Dr. Mustafa Hantoush explained to “Al-Sabah”:
The Central Bank used Instructions No. 4 of 2011 regarding the import of currency by banks licensed in the country that have the right to carry out this process to enhance capital or for the purposes of addressing monetary crises. He added that
the US Federal Bank had earlier reduced the dollar payments that were delivered to the Central Bank due to money laundering and the seizure of the dollar by some countries close to Iraq, but
the Central Bank agreed with the US Treasury on a successful and correct step to support local banks by establishing relationships with foreign banks. And the gradual transition of operations to enhance the balance of its accounts, which is consistent with what the bank previously announced in its plan to gradually reduce dependence on the electronic platform until it ends its work next year. Hantoush stated that
Capital Enhancement
there are banking transactions and deposits received in dollars, and related operations were carried out in dinars with the approval of the Central Bank, because the depositor requests dollars or transfers coming from abroad that are deposited in bank accounts, and
there is no payment in dollars except in dinars, which requires strengthening capital, and according to this process, the Central Bank Al-Iraqi agreed with the US Treasury on a successful step in this regard. He continued that
the American side deals as a merchant, concerned with the issue of profit, by imposing a reduction in the supply of the dollar, but
on the other hand, when it sees its banks and companies making a profit, it agrees to most of the procedures, and it is a theory that it follows in managing the world economically.
New Shipments
It is noteworthy that a government source revealed that government and private banks imported $255 million within two weeks, and that
a number of other requests to import the dollar are on their way to being audited and implemented, with other amounts expected to arrive within the next few days.
The Importance Of Financing Small Merchants
In turn, Imad Al-Muhammadawi, who is interested in economic affairs, told Al-Sabah:
The steps taken by the Central Bank, represented by approaching banks to finance small merchants from Turkey in the euro, are extremely important as it reduces the burden and crises of using the dollar in commercial transactions. He pointed out that
this step will contribute to encouraging Iraqi merchants to import goods from Turkey, in a way that serves the Iraqi economy and the needs of citizens. Al-Mohammadawi concluded that
these measures are positive and indicate that the government seeks to address the problem of the high exchange rate in the country, but
it is important that these efforts continue and be integrated with other measures, such as combating corruption and supporting local production.
With them taking away the US dollar there's some logic to...an increase in Iraqi dinar.Will they?
You're not going to see them go 1 for 1... Nothing would make me happier than to be wrong about this. I would love to go, 'Oh, my gosh, everybody was right and I was wrong. Darn.' As I take my dinar down to the bank...It's not that simple. There are a lot of hurdles and...precautions countries have to take before you do anything that outrageous with your exchange rate.
The best you can hope for is it goes up in increments...You're not going to see any huge significant change in the Iraqi exchange rate despite the fact they're taking away the US dollar.
Article: "Launch of the third annual scientific conference on economic challenges and reform in Iraq" This part is very interesting to me. Quote: "Restructuring the general budget"
Why would they have to restructure the general budget unless there's about to be some changes made. I don't want to get all crazy and make assumptions that it has something to do with the change in the exchange rate but I find this very interesting. Like I said, if they're going to ever change the exchange rate they usually do it at the end of the year or the beginning of the year so everybody could do what?
Restructure their budgets for the year...I do find this interesting...my ears are perking...what do you got going on over there Iraq?
