Using national currency needed for respecting state sovereignty, says Iraqi PM advisor, 23 DEC

  Using national currency needed for respecting state sovereignty, says Iraqi PM advisor

ERBIL, Kurdistan Region - The financial advisor to Iraq’s prime minister on Wednesday stressed the need for all internal transactions to be conducted using the Iraqi dinar, telling Rudaw that using anything other than the national currency is a disrespect to the state’s sovereignty.

The Iraqi dinar has been losing value against the US dollar for several months, leading to a surge in prices of basic goods and consequent outcry from the Iraqi public. The depreciation has been attributed to the smuggling of dollars out of Iraq, mainly to neighboring Iran.

The Iraqi government has for months been trying to control the fluctuations in the exchange rate between the dinar and the US dollar. The value of one dollar currently sits at around 1,530 dinars in the currency markets of Iraq and the Kurdistan Region, which is significantly higher than the value set out in the federal budget.

“One of the requirements for any country to respect its sovereignty is that there should not be two currencies within the economy,” Mudher Mohammed Saleh, the financial advisor to Iraqi Prime Minister Mohammed Shia’ al-Sudani, told Rudaw.

“The purpose of foreign currency is to deal with it outside the [national] economy, so it is not possible to consider the existence of a price in the dollar and a price in the dinar: one rises and the other falls. No monetary policy can control such a situation,” he added.

The Central Bank of Iraq (CBI) in September announced that all the transactions inside Iraq would be made using Iraqi dinars starting in 2024.

The advisor stressed that all internal transactions, including the payment of financial entitlements and salaries, need to be made using the Iraqi dinar, while external transactions can be carried out using foreign currencies at their specified exchange rates.

The 2023, 2024, and 2025 Iraqi federal budget, passed in June, set the exchange rate of $1 to 1,320 Iraqi dinars. The ongoing smuggling has prevented the suggested value from being reached.

“The exchange rate will be fixed, especially since it has been fixed in the federal budget law for three years,” said Saleh.

The discrepancy between the dinar value set in the budget and the exchange markets has compounded the economic woes of citizens, who typically receive their salaries in dinars but are forced to deal with more expensive prices due to the devaluation of the currency on the black market.

The US in July banned transactions with 14 Iraqi banks for allegedly violating its rules. The move further dropped the value of the Iraqi currency.   ink

"RV UPDATE" BY NADER FROM THE MID EAST

  Nader From The Mid East 

 The facts are the facts.  If they delete the dollar, if they take off the dollar from the markets in Iraq, they're going to have to come out with a small category of dinar.  That's it.  Why?  Because it's too much dinars to carry...I'm not going to cary 150,000 dinars in my pockets.  I'm not going to do that. I prefer to have $100 than 150,000.

 Everybody's asking me what's going on.  What's the news.  The news, you will see it on the 1st of January - what exactly is going on.  They already gave you a date.  I told you the 1st of January we'll be out of the dollar.  We will not work with the dollar anymore in Iraq.

 Everybody's asking me what's going on.  What's the news.  The news, you will see it on the 1st of January - what exactly is going on.  They already gave you a date.  I told you the 1st of January we'll be out of the dollar.  We will not work with the dollar anymore in Iraq.

🔥Iraqi Dinar🔥Today WOW, WOW WOW!🔥News Guru Intel Update IQD Value to USD...

"RV UPDATE" BY FRANK26, 23 DEC

 Frank26  

 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!?

Regarding the dollar… Al-Alaq talks about American and international welcome to the Central Bank’s steps, 23 DEC

 Regarding the dollar… Al-Alaq talks about American and international welcome to the Central Bank’s steps

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.”

https://www.mawazin.net/Details.aspx?jimare=239512

"RV UPDATE" BY WALKINGSTICK, 23 DEC

Walkingstick 

 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.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-walkingstick-16-dec.html

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!

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-walkingstick-14-dec.html

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-walkingstick-15-dec.html

Evening News with MarkZ. 12/22/2023

Friday Evening News with MarkZ 

Some highlights by PDK-Not verbatim

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...

“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY

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Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 9:45 AM EST ~ UNLESS BREAKING NEWS HAPPENS!