CENTRAL BANK GOVERNOR: WE PREVENTED BANKS AND COMPANIES FROM OBTAINING THE DOLLAR… AND WORK ON THE ELECTRONIC PLATFORM WILL END DURING THE CURRENT YEAR
The Governor of the Central Bank, Ali Al-Alaq, confirmed: “The bank prevented a number of banks and companies from obtaining the dollar for not adhering to the requirements,” indicating: “The electronic platform will end its operation during the current year.”
Al-Alaq said in an interview with the official agency: “The banks against which decisions are issued are only prevented from obtaining the dollar and can carry out their normal activities,” noting that: “Banks can correct their conditions and obligations required to enter into their foreign transactions.”
He added: “The Central Bank has reached the final stages of regulating external transfers to banks, and the bank has continuous reviews, and banks that apply the standards are allowed to obtain the dollar.”
Al-Alaq continued: “The US Treasury praised the Central Bank’s provisions for banks, which included conditions and standards for external transfers and opening accounts with internationally accredited foreign banks,” denying the issuance of decisions by the US Treasury to punish a number of Iraqi banks with the exception of Al-Huda Bank and the Chairman of its Board of Directors.
Iraqi Electricity: The smart transformation project ensures 24-hour power supply
The Ministry of Electricity announced today, Sunday, that the smart transformation project will ensure the provision of energy around the clock, during its chairman’s meeting, which was chaired by the Minister of Electricity, Ziad Ali Fadel.
In a statement, a copy of which was received by NRT Arabic, the Ministry stressed the importance of these projects and the government’s emphasis on adopting them as a major turning point, noting that the efforts made included multiple studies and analyzes of projects in various regions.
Smart transformation and electronic collection procedures were reviewed, with the Minister stressing the importance of continuing with the necessary steps to reduce energy waste and improve services.
The statement explained that energy networks in several regions were studied and analyzed, and ten regions were selected to implement the first phase of the project, including the capital, Baghdad, and other governorates.
He added that a group of important topics were discussed, including the financial model that competing companies will present, as well as the added values and internal returns, adding that the focus was on improving networks and determining and reducing wastage rates, in addition to paying attention to calculating the prepared and lost energies and determining the time ceilings for dealing. with her.
The Ministry stressed that the project will ensure the provision of energy and full service 24 hours a day without an increase in the cost of the tariff, and will aim to support citizens with middle and limited incomes, and improve control and regulation of high loads.
The other part of the major news from Iraq is still the dilemma of the parallel market, however this too is coming to a head and the underlying causes are slowly be exposed. If you read the articles today you can see the political pressure is on the US from Iraq to end the sale of oil in Petro-dollars. What? Yes, you heard me right. I just commented on this a few weeks ago in my Newsletter and so now we are seeing in the Iraqi news. How freaky is that?
Do you really think this can happen? Read one of the articles and I quote from it –“ This deal forced all oil-importing countries to create a fixed supply of dollars to buy oil, and therefore these countries were forced to export goods to America, and in return, America provides them with dollars that will only cost them the cost of printing them, and from here a new system began that maintains American dominance over the financial system.” The global name is the petro-dollar.” Then there is the explanation of the dangers of getting off the petro-dollar and I quote – “ Economist Nabil Al-Marsoumi recalled the fate of both former regime president Saddam Hussein and Libyan President Muammar Gaddafi, after Iraq moved towards selling oil for prices other than the dollar”.
HOW IT ALL STARTED
In 1973, King Faisal of Saudi Arabia agreed to accept the dollar as the sole currency to buy oil in exchange for America providing military protection for Saudi oil fields, and in 1975 the other OPEC countries agreed to price oil in dollars only, and America succeeded in this deal by linking the dollar to oil instead of gold. On September 24, 2000, Iraq’s Saddam Hussein declares that his country will no longer price oil in U.S. dollars, but in euros instead. In 2003 Iraq is invaded by the U.S.. Go figure? Iraq’s oil supplies are removed from a “petro-euro” system back to a petrodollar system. As consequence Iraq is removed from the global currency trading markets (FOREX).
I am bringing you this short history lesson about the Petro-dollar so you understand how valuable the Iraqi dinar really is. Is it as valuable as gold?
This video below is MUST watch for every IQD investor. It will give you a good perspective as to why the dollar is so harmful and manipulative to Iraq. Is it all starting to make sense now! So, again I ask will Iraq get off the Petro-dollar as a solution to their dollar crisis? But there are other solutions to the dollar crisis in Iraq. There only has to be the will for the US to support more viable solutions. The problem stems in the corruption and there is much US corruption involved too. So change is hard. The goose that lays the golden eggs is hard to kill.
Major headings for our articles in today’s Newsletter:
CENTRAL BANK GOVERNOR: WE PREVENTED BANKS AND COMPANIES FROM OBTAINING THE DOLLAR… AND WORK ON THE ELECTRONIC PLATFORM WILL END DURING THE CURRENT YEAR
IN NEED OF BOLD SOLUTIONS.. THE DOLLAR CRISIS IS MORE COMPLEX THAN THE CENTRAL BANK’S PROCEDURES – URGENT
THE FINANCE COMMITTEE RESPONDS TO THE US SANCTIONS: LET US SELL OIL IN CURRENCIES OTHER THAN THE DOLLAR
AN ECONOMIC EXPERT RECALLS THE FATE OF SADDAM HUSSEIN AND GADDAFI AFTER IRAQ DECIDED TO SELL OIL FOR SOMETHING OTHER THAN THE DOLLAR
THE UGLINESS OF REALITY CANNOT BE HIDDEN.” THE IRAQI ECONOMY IS SUFFERING UNDER AMERICAN SANCTIONS
AL-BADRI: AMERICA COVERS UP ITS CORRUPT TO SERVE ITS INTERESTS IN IRAQ
THE GLOBAL TREND:
It is predicted by 2050 the four BRIC economies would come to dominate the global economy. South Africa was added to the list in 2010. Iraq was approached to join few years ago. The BRICS countries operate as an organization that seeks to further economic cooperation amongst member nations and increase their economic and political standing in the world. These are nice sounding words but the real objective is the process is to undermine the Petro-dollar dominance of the US dollar around the world.
WOULD ENDING THE PETRO-DOLLAR BE A GOOD IDEA?
As citizens of the U.S. we may not like this approach to BRICS is undertaking but the reality is the goose that lays the golden eggs has a life span and it is just about up. The US is the cause of almost every conflict around the globe as a result of this Petro-dollar policies to keep countries on the Petro-dollar. The fate of the dollar depends on it.
Remember it was not just getting off the gold standard in the 70’s alone that is killing the dollar but the careless ability to now over-spend and just print more dollars at the cost of the paper alone. It was the path and an incentive for irresponsible politicians to rack up a huge, overwhelming US national debt. It is time to STOP it. It is time for reconciliation. We can see the writing is on the wall but to return back the gold-standard will be a necessity when the Petro-dollar ends, and it is going to end. We can clearly it.
So, I presented this information to you today about the Petro-dollar and the recent articles from Iraq on this subject because it ties the politics into our Revaluation and Reinstatement of the Iraqi dinar. How can anyone possibly say that this investment is not tied to politics? How can you possibly say politics is not holding it up? I have been saying this for years now and showing you the proof. Do you believe me now? I firmly believe we may very well not see the reinstatement until after the November US elections and that is ONLY if TRUMP and the rest of the conservatives sweep both Congress, Senate and the Presidency. Yes, there will still be much work to be done and an entirely new financial system is already in the making only the so-called Progressives want to hang on to the fiat dollar. They call themselves “Progressives” but in reality, they want to hold on the same old, same old corrupt ways of running our governments.
But there is a better way….
No, the Central Bank Digital Currency (CBDC) is no the solution, however they will try to push it on us. The CBDC is just yet another form of fiat currency and a controlling mechanism for society. It is not about freedom! We don’t need a digitized dollar which is ripe for corruption even if it is partially backed by gold. This would be a knee-jerk reaction to the coming financial crisis. What we need is real solutions and to go back to the basics. Iraq is no different than the US with its financial reforms. Only they are ahead of us.
We must keep praying and pray hard. We are coming to the finish line and as you know if you ever ran in a marathon the last miles are the worst and most difficult as will be 2024. But the US, as other countries will prevail, and we will overcome this curse of globalism and One World Government/New World Order. We have lost some battles and won some, but the war is not yet over, and the victor declared.
Shafaq News / An official document issued by the Central Bank of Iraq showed that 8 Iraqi banks were banned from participating in the window of selling and buying foreign currency.
The document, re-exported by Shafaq News, included a ban on banks from participating in the window of buying and selling foreign currency and not dealing in dollars.
The eight banks are (Iraqi Investment Bank, Kurdistan International Islamic Bank, Union Bank of Iraq, Al-Huda Bank, Ashur International Investment Bank, South Islamic Bank for Investment and Finance, Arab Islamic Bank and Hammurabi Commercial).
The second part of the news is about the establishment of exchange platforms with HSBC (the leading international bank) that will account for all our three zero notes collected from our exchanges in Europe and in the U.S.. This is now all set up and established channels for funneling the money or credits back to Iraq. What do I mean “to account for” ?
HSBC is a clearing house for foreign currency throughout the world. When any private bank decides to purchase foreign currency from you (as your exchange dinar to dollars) it can do one of two things with it. First it can decide to keep it as part of the bank’s foreign reserves for possible customers wanting to purchase it in the future. Or it can broker it to HSBC global banking which will return it back to the country of origin.
In the case of the three zero notes with Iraq, specific accounting procedure has been established with the US Treasury with HSBC which will buy the dinar from the local banks then turn them back over to the CBI and get credited.
