"STATUS OF THE RV" BY MNT GOAT, 28 DEC

STATUS OF THE RV

I was able to talk to my CBI committee member contact yesterday and I will review the content of our conversation with you today, what was said and why they put the project to delete the zeros on a temporary hold.

So, these past weeks we have read multiple articles on the decline of the dollar against the dinar and the official CBI rate. These articles tell us it won’t be much longer until the dollar issue is resolved. We all asked ourselves if this might be the reason for the delay. So, in my call to Iraq I asked this question.

I was told this is the issue involved in the holdup. This is exactly what they needed to see in the decline of the parallel market rate as it was holding up the final blow to the dollar and to allow them to continue on with the next steps in the process to get to the reinstatement.

I asked how close does the parallel black market rate of the dollar have to get to the official CBI rate of the dollar?

I was not given an exact figure because even my contact did not know. Of course a very close almost exact would certainly be the target, as common sense must prevail in our thinking on this too. But having told this to me, I was also told that it is not long before the decline is completed with the measures as the CBI in now making with agreements with many of Iraq’s trading partners and future trading partners to use their foreign currency in making trade payments in place of the dollar. I was told this is how Iraq used to do business prior to the sanctions. 

I was also told that in the coming months, we will witness what was described as a rapid decline in the parallel market, suggesting that it will reach a level close to the official rate soon then at this time an American green light to release the currency reform process to move ahead again will be given. Of course, this is the expectation of my CBI contact and they know much better than I what is really going on in these meetings. 

But here is the most interesting news from our standpoint. I was then told that at some point when the parallel market is stabilized to the official CBI, they plan to conduct one more rate change to the program rate, closer to 1000 from 1320 and then monitor it for inflation for a period of time and then if all goes well, initiate the swap-out of the three zero notes for the newer lower denominations. We all should know comes next after this step is completed……hint…hint…  

Yet More Proof they need the currency reform first and foremost: (their words not mine)

So, just in this period of news we read, and I quote from one of today’s articles – “The economic expert confirmed, “This fluctuation in the dollar exchange rate means that there is no correct basis for building a strong economy, and there is no better option than building the economy on its correct foundations,” suggesting that “the dollar will rise again in the Iraqi market.” For their part, observers and those interested in economic affairs expressed their interest in the rapid decline in the dollar exchange rate recently, highlighting the impact of the relationship between Iraq and the United States in controlling the price of the dollar as a pressure card used to achieve its policies towards the country.”

Again, this quote from a recent article tells us that there is no correct basis for building a strong economy first and then watching the dinar rise based on it success. What they are telling us is they really need the dinar to be strong and to overcome the dollar, then they can seriously begin to rebuilt “with the correct foundations”. Enough said… WOW! The foundation is in the currency…get it? 

So please Kaperoni guru and other idiots, please stop your nonsense in telling your listeners just the opposite and learn what Iraq is going through and how they are doing it to liberate their currency first, then because of these reforms will be able to rebuild Iraq in all aspects of economy and watch it grow. 

Many of my blog readers ask me: Why didn’t Iraq just take the needed steps right from the very beginning in January 2023 to put together foreign currency swap deals with other countries to pay for imports. This way they wouldn’t have had to take an entire year to combat the parallel dollar market. To answer this question I must go a bit deep. I hope you don’t mind because I know many of you have limited attention spans. 

I will tell you why. It is because since the sanctions, the US has held a strong grip on their economy and remember they still have to authorize the dollar shipments to Iraq to satisfy the demand for the dollar. This is like “blackmail” to get Iraq to go along with them even though they are now out of sanctions. So, in 2022 the US Treasury contracted with a software developer firm to build the “electronic platform”. This new platform was rolled out in January 2023 to audit and monitor the currency auctions. This was the start of serious de-dollarization. But who initiated it? Was it the US or Iraq. It was the U.S. and so Iraq has to follow the lead and cooperate this effort and move at the pace suggested by the US Treasury, who was there to help in the process.  

Of course, this process of obtaining dollars is now being moved away from the CBI requesting them from the US Treasury to the private banks requesting dollars through inter-banking practices, as other non-sanctioned countries traditionally already operate under. This is all so very good! 

I also need to point out, as told to us in one of the recent articles in today’s news, is that the government did not spend the budget in 2023 so that it would not be exploited in the local elections by parties and candidates at the time. In 2024 Iraq is calling on the government to start spending the budget more than it was spending in 2023 in order to be a facilitating factor for the market and exchange rate to stabilize.

So, there are many forces working against the parallel black market and will only help to stabilize the dinar official rate yet more. These forces will prevent not only large fluctuations of the dinar against the official CBI rate but also to bring the rate to a stable point to the official CBI rate. I will recap these points of these many factors they are now using:

1.Emphasising the dinar as the “National Currency” and will be the only currency used in country. There will be only one currency in Iraq and it is the Iraqi dinar;

2.Banks allowed now to import cash blocks of foreign currencies;

3.In addition to the recent measures and the consensus with the US Federal to agree to deal with the Turkey lira, UAE dirham, the euro, the Chinese yuan and the Indian ruppe, all contribute to reducing the exchange rate.”

4.We are told the dollar exchange rate will stabilize with the broader launch of the budget in 2024;

5.Banks will be forced to support the industrial initiative, which will gradually work on some industries to become their production internally to reduce the demand for the dollar as they produce in country goods for foreign trade.

6. Iraq must deal with a “basket of currencies” in addition to the dollar gradually so that it is not governed by federal instructions in addition to reducing imports.

See #3 and 6: I believe this is not “the basket” of currencies I talked about many times already to re-peg with the dinar when it goes live on FOREX. These currencies are just temporary pseudo-pegs like currencies being used to gradually get off the dollar more and more when dealing in trade with other countries. So, there is yet another major step to take to get where they need to go globally and that too is coming. Remember “first things first”!

So, we can see what is slowly happening is that Iraq is moving back to a normalcy of their financial system an international normalcy. It takes much more than just putting in place the banking reforms, the means and the mechanisms to do it as we have witnessed over the past years. But now they are actually doing it. It may be slow but remember they are still under the strong arm of the US Treasury on this matter too and are working very closely with them at their pace. In many ways this is good as we want the US to support this process when it comes time to give the “green light”. This is why so many visits by the US Treasury to Iraq, Get it? 

We all must stay diligent as it is our savior Jesus who is working to bring all these amazing events that we see taking place and will see in 2024. Remember too I told everyone years ago that the RV and Reinstatement would be coordinated with the ousting of bad politicians in the US Government. In the past they where influential in holding up the process for reasons I will not get into now… it’s called corruption. But now they know their days are numbered and the slaughter and ousting of the party members in politics will happen in the next election. So, the Biden administration gave directions to the US Treasury to now move ahead at rapid pace to move the currency reform process ahead so they can release these SKR’s (frozen bank accounts) from the 2012 and 2013 early exchanges. Remember these illegal exchanges? They are now desperate. They also need the money to campaign in the last stages of the 2024 election year in the U.S.  So, yes we are in a very good position. 

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

🔥Iraqi Dinar🔥Crunch Time🔥News Guru Intel Update IQD Value to USD🤑💵🤑🎉

"RV UPDATE" BY BEARDED PATRIOT, 28 DEC

 Bearded Patriot

Family:  All I can say is that the 1st of January is supposed to be the final turning point to our new life and blessings for our country.   From that date, our notifications could be imminent.  

 I’m sorry that I can’t be more specific than this , but it seems that everyone’s intel and information that I gather is all over the spectrum. 

Iraq COMPLETELY dropping the US Dollar is a major accomplishment, but they must revalue their dinar in order to move forward on their plans and commitments for their future.   

BP

Iran and Russia plan to trade in local currency instead of dollars, 28 DEC

 Iran and Russia plan to trade in local currency instead of dollars

Economy News-Follow-up

Iranian state media reported that Iran and Russia have reached an agreement on trade in their local currencies instead of the US dollar.

She added that the agreement was signed during a meeting between the governors of the central banks of the two countries in Russia.

Both Iran and Russia are under U.S. sanctions.

"Banks and economic actors can now use infrastructures including internal interbank banking systems, without having to use the Universal Interbank Financial Communication Association (SWIFT) system to deal in local currencies," the media said.

Members of the Russian-led Eurasian Economic Union signed a full free trade agreement with Iran on December 25.

Iran's importance to the Kremlin has grown after Western sanctions imposed on Moscow over Moscow's conflict in Ukraine limited Russia's foreign trade routes and forced it to seek markets outside Europe.

Iranian authorities have stated that military cooperation with Russia is expanding. Iran said in November it had finalized arrangements for Su-35 fighter jets, Mi-28 attack helicopters and Yak-130 military training aircraft from Russia.

ANALYSIS OF IRAQ NEWS BY MNT GOAT: THE DOLLAR IS FALLING IN IRAQ, AND THE BATTLE TO TAME IT IS NEARING AN END, 28 DEC

 THE DOLLAR IS FALLING IN IRAQ, AND THE BATTLE TO TAME IT IS NEARING AN END

The local market has witnessed a gradual decline in the dollar exchange rate recently in a way that observers described as a rapid decline, suggesting that it will reach a level close to the official rate in light of the central bank and government measures with an American green light to release payments of savings at the Federal Reserve.

At the beginning of this week, the US Ambassador to Iraq, Alenia Romanski, announced that her country would continue to provide US dollar services to Iraq, as she told me in her tweet that “the executive agency responsible for promoting economic prosperity and ensuring the financial security of the United States continues its cooperation with the Central Bank of Iraq, and many banks Iraq has formed relationships with international banks for the first time, which is a positive step in making progress in reforming the banking sector, and we will continue to provide US dollar services to Iraq in the interest of economic stability.”

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

Iraqi Dinar🔥1st Of January Deadline For New Exchange Rates Effect Today ...

Dollar Prices Falter Against The Dinar, And Parliament Finance Describes The Decline As Temporary, 28 DEC

 Dollar Prices Falter Against The Dinar, And Parliament Finance Describes The Decline As Temporary

Posted On 12-28-2023 By Sotaliraq  Haider Hisham  The prices of the US dollar fell against the Iraqi dinar, yesterday, Wednesday, in Baghdad and Erbil with the closure of the stock exchange, as the prices of the dollar recorded a decline with the closure of the two main Kifah and Harithiya stock exchanges in Baghdad, reaching 151,500 Iraqi dinars against 100 dollars, while the same morning it recorded 152,750 Iraqi dinars against 100 dollars.

While selling prices in banking shops in local markets in Baghdad decreased, the selling price reached 152,500 dinars for 100 dollars, while the purchase price reached 150,500 dinars for 100 dollars.

The new development that occurred in the series of exchange rates was represented by the decline of the dollar against the dinar, especially in the Baghdad stock exchanges, where it abandoned prices exceeding 155 thousand dinars for every 100 dollars, and returned to the threshold of 148 or less, amid many popular and political questions about the real reasons for this. The decline, and will it continue or will it rise again?

Member of the Parliamentary Finance Committee, Mudar Al-Karawi, identified the most important factors that pushed the “opposite trend” of the parallel market in Iraq, while he considered the recent decline in exchange rates “temporary.”

Etiology

Al-Karawi said in an interview with Al-Mada, “The exchange rate of the dollar in the parallel market decreased by approximately 6% in two weeks and approached 148 thousand dinars for every 100 dollars.”

He added, “The Central Bank’s measures to deal with the main pressure factors on the parallel market pushed merchants and companies to the electronic platform to reduce smuggling opportunities,” noting “an attempt to push 13 active sectors in the country to replace their transactions from the dollar to the dinar, including buying and selling cars, for example.” For example, which worked to reduce demand in the parallel market.”

A member of the Finance Committee explains, “The recent decline in exchange rates is temporary; Because it depends on other points, including that 90% of the markets’ needs are met through import, meaning exporting currency abroad to fulfill financial pledges, which puts greater pressure on the hard currency.”

Al-Karawi points out that “the nature of dealings with neighboring countries, some of which suffer from sanctions, directly affects the parallel market.”

American side

The recent decline in exchange rates is the first of its kind in many months, but the real reasons have not been revealed until this moment, especially since merchants and citizens do not trust the government’s measures and quickly forgot the words of the Prime Minister, Muhammad Shiaa Al-Sudani, when he said, “The dinar is stronger than the dollar.” In turn, the researcher in economic affairs, Nabil Al-Ali, explains the real reasons for the recent decline in the dollar exchange rates in local markets, in relation to the relationship between the blog of the American ambassador to Iraq and the decline of the green currency.

Several days ago, the US Ambassador to Iraq, Elena Romanowski, confirmed that the US Treasury Department would continue its cooperation with the Central Bank of Iraq, while indicating that America would continue to provide dollar services to Iraq.

Citizen confidence

Al-Ali mentioned in an interview with (Al-Mada), that “the Iraqi government has tried for a long time to persuade citizens to fix the official price at 132 thousand per 100 dollars, but citizens do not trust government decisions, at a time when Washington’s ambassador to Iraq, Elena Romanski, is speaking in a blog post.” Small said that her country supports the Iraqi efforts, and sees the clear decline in exchange rates.

He points out that “public opinion and merchants are shifting their confidence towards external positions, and they have no confidence in the government,” considering this matter a “dangerous indicator.”

The economic affairs researcher continues: “There are no new measures by the Central Bank of Iraq to see the recent decline in prices affecting local markets,” pointing out that “there are government plans and procedures, but their impact will not be reflected directly.”

Al-Ali explains, “There is another factor causing the recent decline, which is the end of the fiscal year, and the large number of holidays and events, which leads to a decrease in the volume of trade, and in turn leads to a decrease in demand for the dollar, which prompted citizens to sell the dollar.”

He confirms that “this recent decline is relative, and may witness an increase or fluctuation during the coming period,” indicating that “the fate of the exchange rate is to decline and get closer to the official rate set by the government.”

During yesterday's transactions, Wednesday, the dollar exchange rates rose again with the opening of stock exchanges in the capital, Baghdad, where the price of 100 dollars reached more than 153 thousand dinars.

Wiggle

The US dollar is putting pressure on the Iraqi economy and exhausting its sectors due to its superiority over the dinar, despite the Central Bank providing more than a billion dollars weekly to finance commercial activities through the foreign currency selling window for 1,305 dinars per dollar.

Although the average Iraqi per capita income increased to 7 million dinars last year, the rise in prices of goods and commodities, as well as the fluctuation of exchange rates, raise more negative indicators in terms of poverty, inflation, and the level of recession.

The crisis of the dinar's exchange rates against the dollar is still ongoing in Iraq, since late last year, witnessing fluctuations despite measures taken by the country's central bank with the aim of stabilizing currency prices, while dollar prices recorded fluctuations in the previous two days after a modest decline, which turned the currency crisis into a nightmare that haunts Iraqis.  LINK