ANALYSIS OF IRAQ NEWS: USING NATIONAL CURRENCY NEEDED FOR RESPECTING STATE SOVEREIGNTY, SAYS IRAQI PM ADVISOR BY MNT GOAT, 27 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.

(Why now to do this? Why didn’t they do this in 20212 or 2013 when Dr Shabibi was governor? Why wait so long and all of a sudden.)
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.

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(All I can say again is “I told you so” lol,,lol,,lol,,lol,,, Are we waiting for the Oil and Gas law. Makes total sense to me. The fact that they could not get agreements in place in time and the law passed could be a reason why January target was stalled. Just saying….) 

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

Coffee with MarkZ. 12/27/2023

Iraqi Dinar🔥Green Lights For Effective Exchange Rates To Float Today 202...

US Targets Hezbollah Sites in Iraq: Escalation of Geopolitical Tensions,27 DEC

 US Targets Hezbollah Sites in Iraq: Escalation of Geopolitical Tensions,27 DEC

In a drastic retaliation to a drone attack injuring three US service members, President Joe Biden ordered airstrikes against Iranian-backed militia groups in Iraq, thereby intensifying tensions with Baghdad. 

The US strikes targeted sites associated with Hezbollah, leading to condemnation from Iraq which perceived the act as a hostile violation of its sovereignty. The US’s strategic move has not only heightened geopolitical tensions but also exposed the intricate dynamics in the Middle East.

US Retaliation: A ‘Hostile Act’

The retaliatory airstrikes orchestrated by the US targeted militia sites, effectively destructing facilities and likely causing militant casualties. This move comes after months of escalating threats and actions against American forces in the region. 

However, Iraq condemned the airstrikes on its territory as a ‘hostile act’, further accusing the US of violating its sovereignty. Among the injured were 18 people, including civilians, and a member of Iraq’s security forces was reportedly killed.

Hezbollah’s Rebuttal and The Complexity of the Region

Kataib Hezbollah, the group that claimed the drone attack against the US forces, criticized the US-led strikes, warning against testing their patience. 

The US military, on the other hand, argued that the strikes were in response to a series of attacks against US personnel in Iraq and Syria by Iranian-sponsored militias, which the US considers terrorist organizations. 

This incident accentuates the complex geopolitical dynamics where the US aims to curtail activities of groups it perceives as threats to its interests and regional stability, all while navigating the sovereignty concerns of countries like Iraq.

The Widening Scope of Conflict

Geopolitical tension is escalating in the region, with fears that the conflict between Israel and Hamas could spiral into a wider regional conflict. The US and the UK have accused Iran of instigating attacks by Yemen’s Houthi rebels on international shipping in the Red Sea. 

These attacks have compelled major companies to reroute vessels around the Cape of Good Hope, leading to longer and more expensive journeys. This incident underscores the increasing complexity and gravity of the geopolitical landscape in the Middle East.

https://bnnbreaking.com/world/us/us-targets-hezbollah-sites-in-iraq-escalation-of-geopolitical-tensions/

"STATUS OF THE RV" BY DINAR IRAQ & DONG VIETNAM, 27 DEC

 STATUS OF THE RV

My wish now is for a Healthy, Prosperous and Happy New Year and I see that we, as investors in the dinar, are going to get it.

Remember that there is still much risk in 2024, as the instigators of the subversion on our nation will try anything to stay in power, thus continue the subversion process.

We have already witnessed what they are capable of with their warped, woke policies.

Soon we will all be on track again after the holidays the move ahead once again with more interesting news.

So, there is always one news article to grabs my attention and stands out from the rest.

Today it is one that is not new news but still old news.

It says that the purpose of foreign currency in Iraq 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.

Folks this is just what we have been waiting for so long to hear.

Get it.

This is huge news.

They are finally getting off the sanctioned use of ONLY US dollars for trade outside Iraq.

Yes, they are beginning to act now like they are out of the UN 1991 & 2003 sanctions, that by the way, happened over a year ago.

I quote from one of today’s articles – “The Central Bank of Iraq (CBI) in September announced that all the transactions inside Iraq would be made using Iraqi dinars starting in 2024.“

It does not specifically say the currency auctions will end as many tell you.

They deal solely in dollars and are not going way as of Jan 1st 2024 however, why would they need them if they take this route, which they fully plan to do?

Remember people will still need dollars for various reasons.

The CBI wants to eventually shift this need over the private banks to supply dollars, but not just yet.

It is coming and the auctions will end sometime in 2024.

Internal vs External Payments

Again, I quote from the same article – “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.“

So, we are still waiting to see just what the CBI will do in early January 2024.

Will they surprise us or do we have the situation under control and like I said we will have to wait for the parallel market rate to catch up with the Official CBI rate and then to get to the 1:1 thus to trigger the project to delete the zeros project, as stated in their plan.

This project MUST come first prior to any significant upwards change in the dinar rate.

We are NOT going to have to wait yet to another Christmas time and January 2025 to see it.

There are still expectations for January and we all know Iraq and how they work slowly.

They always set higher expectations than they can actually accomplish this the time period.

They are desperately trying to overcome these globalist barriers placed in front of them to prevent them from their rightful sovereignty as a nation.

We are seeing more and more articles they are at the breaking point in the submission & suppression they are being forced to live.

You see the globalist now have a hard time explaining why they have not supported Iraq more in this area since after all didn’t they put together the coalition to FREE not Subdue or Enslave the Iraqi people?

There is no more justification not to reinstate the dinar back on the trading platforms.

https://www.facebook.com/profile.php?id=100064727316650

Iraq Dinar - Global Financial System - Digital - Revaluation - Dinar Nat...BY MILITIAMAN

Iraqi prominent Shiite leaders: American forces must leave the country, 27 DEC

 Iraqi prominent Shiite leaders: American forces must leave the country

hafaq News/ The head of the State of Law coalition, Nouri al-Maliki, and the Secretary-General of the Asaib Ahl al-Haq movement, Qais al-Khazali, have jointly expressed concern over the presence of American forces in Iraq, stating that it has surpassed its advisory role and now poses a threat to regional countries. 

During a meeting to discuss political and security developments, both Iraqi leaders criticized what they perceived as "ongoing American attacks on Iraq's sovereignty, targeting official government sites."

In a statement from the Asaib Movement's media office, al-Maliki and al-Khazali emphasized the urgent need for American forces to leave the country, asserting that their presence has extended beyond advisory functions and has become a potential menace to regional nations.

The statement came after today's attack on a camp for al-Nujaba Movement, one of the Shiite factions. 

A security source told Shafaq News Agency that a drone attack targeted a camp for Al-Nujaba in the Al-Fath Al-Mubin area of the Taj Al-Din district, north of Wasit governorate. 

Three explosions were heard, followed by heavy gunfire. The source said.

The Iraqi "Resistance" factions were targeted today also by the United States.

The Pentagon announced strikes against three facilities of the Hezbollah Brigades (Kataeb Hezbollah) in Iraq as a response to the attack on Harir Base at Erbil International Airport. 

The Iraqi government condemned the American airstrike, which resulted in casualties and injuries, considering it a violation of Iraq's sovereignty.

https://shafaq.com/en/Iraq-News/Iraqi-prominent-Shiite-leaders-American-forces-must-leave-the-country