[via PDK] I know we are all tired of hearing of all this progress and we still cannot go to the bank. Imagine how frustrated the Iraqi citizens feel? But we are watching steady progress towards Iraq’s reinstatement and/or revaluation. I still think its going to be revaluation…but a reinstatement would be easier for them.
Iraq has got a lead position in a number of committees etc…in the WTO. And there are meetings scheduled throughout the year. They have to be full members to do these so to me it is very clear we are about to see Iraqs ascension into the WTO in the very near future...Nearly every economist out there is calling for a new rate before that occurs...
Comment: we're hearing we must have receipts on the currency. MarkZ: I was told since it has gone on for so long….they are not needing receipts to exchange unless you have an enormous amount of currency. If you have large, obscene amounts like $100 million in dinar or something like that…it would be best if you have receipts….
Shafaq News / The Iraqi government announced, on Monday, a request to host the Arab summit in 2025, while it envisaged a comprehensive rehabilitation of some presidential complexes, which include a number of major guest houses, which were previously occupied by some ministers and deputies, which made them need to carry out a maintenance process.
The spokesman for the Iraqi government, Bassem Al-Awadi, said in a statement to Shafaq News: “Given the restoration of Iraq’s deserved role regionally and globally, and in line with the government’s tendency to strengthen its position and convey the positive truth about him, which began to take root instead of that distorted, due to the difficult circumstances that our ancient country was able to overcome with vigor and the sacrifices of its children, Iraq submitted an application to host the 2025 Arab Summit in the capital, Baghdad, and the government seeks to complete the elements of this hosting in accordance with the guests of the leaders of Arab countries in accordance with diplomatic norms and in line with the status and reputation of the host country, so the government began to prepare and provide the necessary requirements for this.”
He added that “the isolation suffered by Iraq during the dictatorship, and our war against terrorism throughout the past era did not give the opportunity to rehabilitate the basic infrastructure of the state to allow hosting important and large regional and global events, which missed many opportunities in which Iraq could have played an active and influential role in the international arena.”
The government spokesman explained that “in the face of the above and in order to prepare for the Arab Summit in Baghdad in 2025 and other international events related to Iraq, which were previously held in neighboring or regional countries for the above reasons (to end this abnormal situation), the need has become urgent to prepare the necessary infrastructure, including the rehabilitation of the government hospitality headquarters that are significantly and clearly visible.”
He pointed out that “After the circulation of a document on social media platforms indicating the rehabilitation of a number of (the role), it was necessary to note that the government has decided to comprehensive rehabilitation of some presidential complexes, which include a number of major guest houses, which were previously occupied by some ministers and deputies, which made them need to conduct a comprehensive maintenance and rehabilitation process. The Ministry of Construction and Housing has prepared the required statements and according to its price and technical determinants, and presented them to the Council of Ministers for approval and obtained approval by the decision of the Council on 2024/2/7.”
“We hope to be precise in the transmission of information and to miss the opportunity on those who seek to falsify the facts and harm the reputation of our dear country,” he concluded in his statement.
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 evening everyone!
I’m loving ithe fact that SO many people are under NDA! That ALONE is HUGE! I’m loving the news over the last few days!
Member: I heard that this has to happen before Ramadan, or we wait at least another month.
Mod: RAMADAN IS MARCH 10 TO APRIL 9
Member: Ramadan, the ninth month of the Muslim calendar, is one of the most sacred times for Muslims.
Member: Nadar just posted a video saying they wont do anything with exchange rate in month of ramadon its against their religion.. so we have until like march 10 for this to happen or we wait till May
Member: I don't think Ramadon matters myself
MZ: Nader is right that they have a serious sepeeration between church and business. But I guarantee you they would love to have it before Ramadan. The people would love to have that prosperity going into the down time.
Member: Kuwait revalued on March 25 1991 and I believe it was during Ramadan.
MZ: “Arab states restrict US ability to attack Iran’s allies in Iraq and Syria- Politico” seems like they want the US out of the region. One of the key things we have been told to get the US to leave is a change in value of the dinar.
MZ: “Time’s Up-Threats won’t prevent US ouster from Iraq after years of occupation” All eyes in Iraq are glued to the negotiations between American officials and Sudani to end the long military occupation of Iraq. This is a long one but lots of background as to why the push now. They not only want the military out but economic freedom from the US and the US banking sector. .
Member: If Iraq joins BRICS…..things might be a lot better for them down the road.
Member: I read the Us is trying to send more troops to Iraq.
MZ: I believe Iraq will force the issue soon and the US will be faced with either leaving with some pride or declaring world war 3.
MZ: “Minister of Finance of the World Bank –The Government is determined to reform Iraqi Monetary policies” A lot coming out about all the policies of financial reform and restoring the rate of the dinar.
MZ: I know we are all tired of hearing of all this progress and we still cannot go to the bank. Imagine how frustrated the Iraqi citizens feel? But we are watching steady progress towards Iraq’s reinstatement and/or revaluation.
MZ: I still think its going to be revaluation….but a reinstatement would be easier for them
Member: I understand that watching Iraqi dinar is an easy indicator if how close the RV is, but aren’t the Chinese Elders the key to getting the release of the RV not the CBI in Iraq.?
Member: If Elders are in charge of the GCR…then CBI is in charge of the RV
Member: Awake-In-3D had a good ones in Recaps about the Chinese Elders…well worth a read for sure.
Member: Every second we are closer and closer. Thank you God for these blessings we are about to receive.
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You're going to see IMO a slight increase in the exchange rate, probably within the first quarter of this year...I still feel in my heart there might be some kind of change to the exchange rate the first quarter of this year. It's not going to be anything major but it is going to be an increase.
A lot of you are asking me...how does the deletion of the zeros affect the stocks over there in Iraq...I know we were told that the deletion of the zeros comes off the exchange rate, which is wrong. It actually comes off of their currency, their bank notes. It's called a redenomination...Since 2013 they've been talking about the deletion of the zeros off the currency. They put the zeros on when inflation is really high...Now that their inflation has been kept in check for quite a while they're talking about removing the zeros off the currency. No where in there does it say the exchange rate. It says the change does not affect the currency's value against other currencies. Instead it simplifies transactions and improves the economy's overall efficiency.
The ISX is the primary stock exchange in Iraq...the redenomination of the Iraqi dinar will not directly impact the ISX or the stocks traded on it. Stock prices are determined by market forces such as supply and demand...If there's any kind of effect on the Iraqi Stock Exchange it would be that people might panic a little bit...The prices are all done in US dollars. It's not in Iraqi dinars...so redenomination is not going to have any effect the value of the stocks on the stock exchange. If they change the exchange rate against other foreign currencies it will affect the stock prices...
When will it be liberated? Iraqi money held captive in US bank prisons
Information / Baghdad...In the spring of 2003, Iraq witnessed a US occupation and was placed under US trusteeship, and Iraq's money from the sale of oil, which constitutes more than 90 percent of Iraq's hard currency imports, was placed at the US Federal Reserve to protect it from compensation claims made by some countries affected by the policies of the former regime that ruled Iraq before 2003.
In order for the Iraqi Government to benefit from these funds, the Iraqi Ministry of Finance submits a request to the United States with an explanation of the disbursements of those funds, so that the United States Federal Bank may study and scrutinize the request and recommend the Disbursement of the amount of funds requested. The funds are then transferred to the Central Bank of Iraq, which in turn transfers them to the Government of Iraq, either in US dollars or Iraqi dinars as needed.
The United States has stated on previous occasions that the reasons for imposing sanctions are mainly money laundering and currency smuggling, without giving exact details of those charges.
Experts said that "Iraq imports nearly 90 percent of its needs of goods and services from outside Iraq, and the reason is due to the deterioration of industry, the diminishing role of the private industrial sector and the decline of agriculture to a large extent due to the lack of rain and the low water level in the Tigris and Euphrates rivers."
"This necessarily leads to a significant hemorrhage in Iraq's foreign exchange reserves. Moreover, due to the extensive relations and the close distance between Iraq and its eastern neighbor Iran, Iraq's trade with Iran accounts for the lion's share of Iraq's imports of goods and services, which provokes the anger of the United States, which imposes severe sanctions on Iran and prohibits the supply of US dollars to Iran."
This scene needs Iraq to be liberated from the American influence over its funds, in order to continue building the country.
Ali Hussein, a member of the Fatah Alliance, warned on Monday of US control over oil financial revenues in the Federal Bank, accusing Washington of exploiting this control to exert pressure on Iraq.
Hussein told Al-Maalouma that "America is exploiting this control by imposing its will in many files, including armament, as well as its pressure on the economic paper."
He called on the government to "break free from this pressure and have a say in reformulating the relationship with the Americans."
He pointed out that "the Iraqi and international financial system is captive to the US administration, which necessitates resorting to other ways to ensure the liberation of money from its authority, and understanding through other windows away from the pressure it exerts against Baghdad."
In the same context, the head of the coordinating body of the popular movement for the Belt and Road, Hussein Al-Karawi, stressed that Iraq has great economic assets that need proper management that leads it towards achieving success, investment and getting rid of the American will.
He told Al-Maalouma that "there is an urgent need for Iraq to go towards the countries of the East to develop economic and trade relations in various fields and get rid of the US hegemony imposed on Baghdad."
He called for "dealing in rubles or Chinese yuan, and not limiting the economy to the US dollar."
Last year, Iraq demanded that the United States free its money from its treasure.
A previous statement by the State Department said that Minister Fuad Hussein discussed with his US counterpart Antony Blinken a number of issues, including sanctions imposed by the US Treasury on Iraqi banks.
According to a statement by the Iraqi Ministry of Foreign Affairs, the US Treasury did not provide the reasons behind the imposition of such sanctions, and whether Washington's imposition of these sanctions came due to the lack of discipline of these banks in implementing the banking instructions and rules set by the Central Bank of Iraq or the US Federal Reserve, or for other reasons.
According to the statement, the Iraqi Foreign Minister officially called on the US Secretary of State to reconsider the US Treasury's decision on the subject, especially since the US Treasury Department is in constant contact with the Central Bank of Iraq and that these banks play an important and major role in financing the ration card expenses that benefit families of low-income people, as they provide them with a food basket consisting of basic foodstuffs such as flour, rice, sugar, tea, some legumes, washing powders, and others.