Iraq Dinar - Formula for New Pricing - Al -Sudani - Opportunity - Exit C...BY MILITIAMAN

A Former Central Bank Official Rules Out The Collapse Of The Iraqi Banking System As A Result Of US Sanctions, 8 FEB

 A Former Central Bank Official Rules Out The Collapse Of The Iraqi Banking System As A Result Of US Sanctions

2024-02-08 Shafaq News/ Mahmoud Dagher, an economist and former general director of the Central Bank, ruled out, on Thursday, the collapse of the banking system in Iraq following the sanctions imposed by the US Treasury on a group of banks in the country.

Dagher said in an interview with Shafaq News Agency, "The collapse of the banking system due to these sanctions and restrictions will not happen despite the continued pressure of this intensity that is harming these banks."

He added that there are no real reasons for these sanctions, adding that the US Treasury only restricted these banks from obtaining the dollar.

Dagher stated, “Because there are no reasons, and because the case is suspicious, it is not a penalty, but rather a restriction on those banks, but it results in harm to them, to the people, and to the import financing process.”

He stated that the penalties came based on the banks’ dealings with suspicious financial transfers during the past year 2023.

The day before yesterday, Tuesday, Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, called on the United States of America to reconsider the sanctions imposed on 21 Iraqi banks that contribute to financing the food basket items for families with limited income, as the Iraqi Ministry of Foreign Affairs announced on Wednesday.

In July 2023, the US Treasury Department imposed sanctions on 14 Iraqi banks in a crackdown on Iran’s dollar transactions.

An official document issued by the Central Bank of Iraq this February showed that 8 Iraqi banks were banned from participating in the foreign currency buying and selling window.

Iraq has more than 70 private banks, a relatively new feature in a sector that was almost entirely under state control until the fall of Saddam Hussein's regime after the US invasion in 2003.   LINK

JUDY NOTES, 8 FEB

 Global Currency Reset Judy Note: What We Think We Know as of Thurs. 8 Feb. 2024:

• It has begun. The Chinese Elders have released Dubai 1 Funds into Paymaster Accounts for Tier 1 (countries internationally) that were now liquid and being paid out.
• Dubai 2 funds for Tiers 2,3,4a (Groups) were released on Sun. 4 Feb. and would be liquid on Fri. 9 Feb.
• Dubai 3 funds for Tier 4b (Us, the Internet Group) were released on Wed. 7 Feb. and would be liquid by at least Sat. 10 Feb.
• Sat. 10 Feb. was the beginning of the Chinese New Year when BRICS countries would be informed of their new currency rates and Tier4b funds deposited on Wed.7 Feb. would be liquid in Paymaster Accounts.
• Wed. 8 Feb. Texas Snake: “My Banker has remained on the West Coast due to his wife’s health condition but assures me he is in contact with Reno and will advise me as soon as he get his notifications which should occur just before the emails and 800 numbers are posted.  Says all remains positive.”
• Mon. 6 Feb. Wolverine: “I just received news from my contact and he was expecting the call today but he said that everything is lined up for Wed. 7 Feb. We just have to wait for a couple of days. Just for your tranquility let me tell you that this is real as it is happening and the paymaster cannot hold on to that money any longer as it’s not their money as it belongs to the people. It is definitely going to be a beautiful week. Please have faith.” Blessings, Wolverine.

https://dinarchronicles.com/2024/02/08/restored-republic-via-a-gcr-update-as-of-february-8-2024/

N*E*S*A*R*A The new Quantum credit cards 02/07/24 BY PIMPY

Coffee with the Codeman 2/8/2024

Iraq calls on Washington to return to negotiations to discuss the future of the “coalition”, 8 FEB

Iraq calls on Washington to return to negotiations to discuss the future of the “coalition”

February 8, 2024 01:22

The Iraqi Ministry of Foreign Affairs announced yesterday that Foreign Minister Fuad Hussein stressed in a phone call with US Secretary of State Anthony Blinken the necessity of returning to dialogue and the negotiating table to discuss the future of the international military coalition led by the United States in Iraq.
The talks between the two countries began in January, but less than 24 hours later, three American soldiers were killed in an attack on the Syrian-Jordanian border, which led to the talks stopping since then.
The Iraqi Foreign Ministry statement said that during his call with Blinken, Hussein stressed the Iraqi government’s rejection of such attacks and informed him that “Iraq is not an arena for settling scores between rival countries.”
The United States has 2,500 soldiers in Iraq who provide advice and assistance to local forces to prevent the return of the terrorist organization ISIS, which in 2014 took control of large parts of Iraq and Syria before its defeat. 
After the withdrawal, Iraq is keen to establish bilateral relations with coalition members, including military cooperation in the field of training and equipment.
Hussein formally called on the US Treasury Department to reconsider the sanctions it imposed on several Iraqi banks, and asked whether those sanctions had been imposed due to compliance issues or “for other political reasons.”

https://www.aletihad.ae/news/%D8%B9%D8%B1%D8%A8%D9%8A-%D9%88%D8%AF%D9%88%D9%84%D9%8A/4462120/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%B7%D8%A7%D9%84%D8%A8-%D9%88%D8%A7%D8%B4%D9%86%D8%B7%D9%86-%D8%A8%D8%A7%D9%84%D8%B9%D9%88%D8%AF%D8%A9-%D8%A5%D9%84%D9%89-%D8%A7%D9%84%D9%85%D9%81%D8%A7%D9%88%D8%B6%D8%A7%D8%AA-%D9%84%D8%A8%D8%AD%D8%AB-%D9%85%D8%B3%D8%AA%D9%82%D8%A8%D9%84–%D8%A7%D9%84%D8%AA%D8%AD%D8%A7

"RV UPDATE" BY KAPERONI, 8 FEB

 Kaperoni 

  I remind people again Iraq's entire net worth including all minerals in the ground including oil is only worth about $16 trillion dollars. With over 100 trillion dinar in circulation Iraq could never RV the dinar!  Only with the success and growth of Iraq's economy and private-sector can the dinar go up in value. It could go up gradually over time as Iraq's GDP increases.

 I still have significant concern over Iraq wanting to redenominate (LOP) their currency. There  are numerous educational symposiums teaching the citizens about such an event. This is a very real possibility. 

Article "US and Iraq agree to start talks to end presence of US-led coalition"

The dinar either rises gradually over time as Iraq's economy prospers reducing the money supply or Parliament will authorize the deletion of zeros reducing trillions to billions and a LOP. Not what we want to see.

 there is no way Iraq can RV the Iraqi dinar with [120] trillion dinar in circulation. No country could afford. Iraq's total net worth is only around $16 trillon dollars.

 There is no significant RV of the Iraqi dinar.  And if the dinar does ever go up in value, it will be based on the success and growth of Iraq's own economy.  There are no shortcuts.

  Article:   "Ali Al-Alaq, the current governor of the Central Bank of Iraq confirms that Iraq's money supply exceeds 100 trillion dinar."

 If and when the Central Bank decides to increase the value of the Iraqi dinar more than likely it will be based on some type of gradual float as a result of the success and growth of Iraq's own economy and an increase in GDP.

I hope each and every one of you find success in this investment...It may take time.  It may  be another 1 to 5 years.  I certainly hope not but I believe things could happen quickly over the next 36 to 48 months.  It all depends on Iraq.  

 ...We all know things don't happen fast in Iraq. Iraq has a lot of work to do in order to succeed. The first of which is pass over 100 stalled laws through Parliament to encourage investment in Iraq.  And at the same time the Central Bank of Iraq has to continue reforms to the banking system, digitalization, and apply monetary tools to meet compliance .

 A country's exchange rate is the result of the success and growth of their own economy. When you have a weak economy, you have a weak exchange rate.  Until Iraq passes laws, diversifies their economy and increases their GDP, nothing will happen with the dinar.   When Iraq passed their tripartite  3 year budget a few months back, it created the conditions for them to diversify and privatize their economy over the next three years.   Now Iraq is on the clock to accomplish such.

There's a new article out that many people are translating and confusing.  They are not talking about an RV in Iraq, they are talking about the spread being in compliance early next year. 

 Just a reminder the spread is the difference between the official rate and the market rate or street rate and has been way out of whack recently in Iraq. This article simply means they expect the spread to come down closer to the official rate early next year. There is no RV.

    A very important statement was made back in 2020 by the prime minister's economic advisor Mohamed Salah who used to be Deputy Governor of the CBI under Shabibi. He stated that Iraq's entire wealth including all minerals in the ground amounts to only $16 trillion dollars. Knowing that information one can then determine that there is no way a significant RV could ever occur with over 90 trillion dinar in circulation.  It doesn't make sense...

 They...have to have the dinar stabilized within the country and within the 2% rule mandated by the IMF in order to then accept IMF article VIII and begin to float the dinar which would raise its value based on supply and demand.  All of these processes and or steps required time.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-kaperoni-10-dec_0650267841.html

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-kaperoni-18-dec.html