The Beginning Of “Drying Up” Liquidity From The Hands Of The Iraqis.. The Destruction Of “Surplus” Currency And Deposits In Banks Are The Highest Historically
Economy | 30,007 views Alsumaria News - Special Over the past years, all of the economic problems in Iraq internally, whether with regard to corruption, the dollar, the rise in real estate prices, etc., as well as inflation,have been directly linked to the high volume of liquidity and the
printing of money by the Central Bank, as well as the high volume of cash in the hands of the street, citizens or... Capital owners, away fromIraqi banks. Recently, trends and numbers indicate that a reverse process has begun to take place in Iraq, which consists of reducing cash and gettingrid of “surplus printed money” without printing new money in front of it, and increasing banks’ possession of this liquidity instead of leaving it in the hands of the street and citizens, where it can be said that the government and the banking sector And finance in general in Iraq began to “nibble” the existing liquidity and “dry it out” from the hands of the people. In a special review conducted by Al-Sumaria News, it becomes clear that the currency printed or issued in Iraq until February 2024 is the lowest in 8 months, that is, since May 2023, as the currency printed in Iraq reached 99.2 trillion dinars, and the highest historical level reached by the printed currency was recorded. In November 2023, it amounted to 102.6 trillion dinars.
This approach represents getting rid of the currency and not only stopping its printing, but also “destroying it.”
This matter does not seem “absurd,” but rather
it is an approach committed by Iraq
to reform liquidity management and with recommendations from the International Monetary Fund, which, in its statement last February, praised “ Efforts made by the Central Bank of Iraq aimed at getting rid of excess liquidity!
While the currency printed until February 2024 is the lowest in 8 months, there is a “historical” record corresponding to it, as the data reviewed by Al-Sumaria News show that until January 2024, the currency in banks amounted to 9.1 trillion dinars, and this number is the highest ever in history. Banks after they ranged between 6, 7 and 8 trillion over the past months and years.
The expected effects of this trend are not known, but specialists believe that the data will continue in one direction, which is to reduce printed cash and liquidity, and the banks’ attempt to hold on to liquidity and not leave it in the hands of citizens, and all of these indicators will ultimately lead to reducing inflation in general and reducing the “enormous” purchasing power among groups. Great Iraqi.
TOPPED BY THE KUWAITI DINAR… IRAQ IS AMONG THE STRONGEST CURRENCIES IN THE WORLD
The strength of a currency is determined based on various factors, including interest rate differences and terms of trade. What will be the strongest currencies in the world in 2024?
The Techopedia website published a classification of the world’s strongest currencies against the US dollar, and the site stressed the importance of various economic indicators and geopolitical tensions in determining the currency exchange rate.
Currency strength is the relative purchasing power of the currency compared to other currencies, and the US currency was adopted in the classification as a standard. According to the site, 3 Arab currencies topped the rankings.
Below are the 10 strongest currencies in the world (based on data from March 27, 2024):
(Really? The IQD among the strongest currencies? At $1/6 of a penny= 1 IQD while Kuwaiti is at $3.45- 3.65 = 1 KWD. Who are they trying to fool? )
The rate of the IQD is being “artificially suppressed”. They can give all the warped reasons why it is being held back but just look at the FACTS for yourself in what Iraq had prior to the 1991 invasion and what assets is has now. No comparision. What was the rate hovering around in 1991? It was $3.00- 3.22. What is it now 1/6 of a penny. So, please I am no fool!! 😊)
In today’s news there is a very condescending article about the Iraqi dinar. This article only shows us once again the currency manipulation that is going on with the IQD. Let me explain this to you a little better.
Define condescending: having or showing a feeling of patronizing superiority.
I find it amazing how the news media in Iraq tries to spin and even justify a suppressed rate of the IQD. On one hand they say the IQD for Iraq is only topped by the Kuwaiti dinar… then to say Iraq is among the strongest currencies in the world. But we know the rate is 1320 IQD = 1 USD or about 1/6 of a penny. So, do you think they are patronizing the IQD….maybe?
Then the article talks about the factor for determining the strength of a currency. They go on to say it is determined based on various factors, including interest rate differences and terms of trade. Really is this true?
But Kuwaiti has very little trade and does not have nearly the assets that Iraq has such as oil reserves, oil revenues, gold, agriculture and other precious much needed minerals for industry. The CBI just announced the issuance of Bonds at 8.5 % interest rate with zero risk. Did you hear me, I said ZERO RISK! Even foreign investment is now flocking to Iraq.
Last Thursday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed that Iraq is among the countries in the safe range in terms of debt repayment according to international standards in calculating the ability of the national economy.
Looks to me like Iraq is much, much better off than Kuwait and even almost any of the middle eastern countries in the region. Iraq has gained up as the second largest oil producer in the region only to Saudi Arabia. So what is Saudi’s currency values at? It is rated at 1 SRI = .26 cents USD.
So, is the IQD being suppressed for POLITICAL reasons? You tell me….
Why is the KWD currency rate not better reflective of what they have? It should be way below 1/6 of a penny even compared to the IQD, if the IQD was in fact determined correctly according to the true assets and not playing a political game with it. So should the KWD then be much lower, but we all know it’s not. Get it? The US is playing a game with Iraq and the IQD and most importantly, it’s the people. It’s people are suffering from it the most. War sanctions are over and its time to give them back their currency along with their dignity.
Oh… now I get it! 😊 But what Kuwaiti does have are permanent US military bases, air bases for drones and stockpiles of weapons and ammo. Oh… now I get it. Go figure! Saudi also made a deal under Trump to also sell oil in US dollars. But now they are wavering from this deal and joining up with BRICS.
This too is what the US wants from Iraq, military bases. But Iraq wants their sovereignty. Can they make a deal to have both? But any deal will have to contend with the Iranians who are leading this campaign to rid Iraq of the American forces. Of they don’t want American forces in Iraq. They are the only thing standing in their way of making Iraq as their puppet state.
Funny also when the Techopedia website published a classification of the world’s strongest currencies against the US dollar, and the site stressed the importance of various economic indicators and geopolitical tensions in determining the currency exchange rate. Yet the IQD was not even listed on their list of the 10 strongest currencies in the world (based on data from
So, please, mama didn’t raise a fool!! 😊 Really now I try desperately not to be a conspiracy theorists but this one takes the cake….. Just look at the FACTS! The facts always speak for themselves.
So, today I have to come on and clarify yet more of the so-called intel guru misinformation. Folks, I do not like doing this and it consumes my time. But many are going off not knowing the TRUTH if you listen to these idiots. So, this guy calling himself Wang Dang comes on his Sunday night “bullshit” call and makes claims about the DFI fund. First of all, he says that the fund is a composite of all the assets of Iraq, which if true, would be impossible anyway to put the assets in an escrow account in Chase/Morgan bank in NYC. How stupid and ridiculous to even say this.
He then goes to claim this fund won’t be released to Iraq until the RV happens. Again a guru trying to target the RV to a specific event, something I cautioned everyone from doing. He talks as if the fund is still active and just waiting for the RV to happen for it to be released. Folks this is such bullshit I can’t believe anyone, never mind calling himself an intel guru, that he could say such idiotic statements. Doesn’t he do any research? Folks, I showed you multiple articles on this subject matter.
In the articles section of my April 2nd Newsletter, I showed you multiple articles as proof that the DFI fund is now already closed and that Iraq is now working on the return of any remaining balance of these funds back to Iraq. Where will they park all this money? They have not yet told us, but they did in the past talk about establishing a series of “sovereign funds” for investment purposes, the interest to which will be uses to pay for salaries, social programs and supplement the budget.
Next, I want to point out that Wang Dang should be ashamed of himself for not even knowing the real intent and use of the UN sanctioned DFI fund. Yes, it was part of the sanctions put on Iraq and so this is why the US was forced to end this procedure now. But it wasn’t going to end without a fight and so this prime minister Al–Sudani brought this to the table and forced the issue along with support of the Ali Alaq the CBI director. Months prior to this move, if you were paying attention to the news, you could see this was coming. This is HUGE news for us investors and was yet another move to full sovereignty of Iraq. The Iraqi dinar is also gong through the same fight to regain its freedom too from the sanctions and Iraq is winning this battle and eventually it too will be liberated, as with the DFI fund. It is coming, it has to happen and will happen. There are legal ramifications too if this process is held up much longer. As I write this Newsletter today the outcry from Iraq is getting louder and louder and soon this news of the US holding back a liberated country from its legal tangible sanctions relief will be made public for all to see.
Purpose of the DFI Fund:
To educate my blog readers from these predatory so-called self-proclaimed intel gurus out there, I want to help you understand what just happened more clearly. So, the DFI fund, is a fund set up by the UN during the gulf wars to be administered by the US Treasury, to which the goal was to deposit oil revenues for the sale of oil in Iraq. The fund is funded in US dollars collected from the oil sales (petro-dollars). The intent of the fund was to protect the revenue stream of Iraq from potential creditors seeking to salvage money from Iraq as war debts. Even though the Paris Agreements were in place, the UN still felt the necessity to hold and protect these funds. The UN also considered protecting these revenues from a corrupt inside Iraqi government and to ensure Iraq has the money from the oil to pay its budget and take care of the 35 million citizens. Money was only released from the DFI fund once Iraq presented their annual budget to the US Treasury. Through the scrutiny of the annual budget, the US Treasury could then released the money on an ongoing basis them to meet the ongoing monthly bills (Iraq calls these “dues”) and for any budgeted projects. Do you see now why Iraq’s economy was turned to using US dollars and not so much dinars? Do you make the connection now why to get out of this war sanctioned process, Iraq must now turn back to using their national currency, the dinar. Thus the de-dollarization process of 2023.
So, we witnessed that the UN was correct as Iraq did have more than a decade of massive corruption especially under Nori Al-Maliki, then a couple more prime ministers as corruption seemed to be the norm. Iraq would Incidentally, the US was very influential in putting him in power. Yet another mistake in understanding the middle eastern thinking, culture and politics.
What else is new in the news?
I quote from one of today’s articles. “Approximately 1,000 ATMs will be installed across all provinces, districts, and areas of the Kurdistan Region of Iraq (KRG) by the end of 2024”. We have ben told years ago that the ATMs are pivotal to the Project to Delete the Zeros.
I quote from another article in today’s news – “The Central Bank announced the launch of financial bonds with the highest annual interest, at 8.5%, as well as deposits in the private banking sector.” According to economist Manar Al-Obaidi, in a post on his Facebook page, the aim of these bonds is to attract and encourage capital outside the banking system through high interest rates to enter the banking sector
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani chaired the sixth meeting of the Supreme Committee for the Development Road, during which the latest executive steps were followed up and the procedures related to the project continued to be completed, and ways to resolve controls and instructions related to customs, tax and transit tariffs were discussed, within Project management and operation system. Things are really moving ahead now. The choo choo is still running down the tracks picking up momentum each week.
So now, we are just waiting for the “giant” leap when the CBI gives them the second rate change. This should bring in much if not all the remaining capital outside the banking system back to the banks that need it desperately for the economy to grow. This second rate change should coincide with the project to delete the zeros. Let’s keep our fingers crossed and PRAY!
AL-SUDANI TO PLASSCHAERT: IRAQ HAS COMPLETED MANY OF THE REQUIREMENTS FOR TRANSFORMATION AND THE COMPLETION OF ITS CONSTITUTIONAL INSTITUTIONS
Prime Minister Muhammad Shiaa Al-Sudani confirmed to the UN representative in Iraq, Jeanine Plasschaert, on Sunday, that Iraq has completed many of the requirements for transformation and the completion of its constitutional institutions, which was documented by recent international reports.
Al-Sudani’s office said in a statement received by Al-Youm Al-Akhbariya: “Prime Minister Muhammad Shia’ Al-Sudani received today, Sunday, the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert.”
He added, “During the meeting, the relationship between Iraq and the United Nations was discussed, and the most prominent files and programs in which the United Nations works to support Iraq and in various fields were discussed.”
IRAQ ANNOUNCES THAT IT IS CLOSE TO PRODUCING 5 MILLION BARRELS PER DAY
Baghdad – Iraq Today:
Oil Minister Hayyan Abdul Ghani confirmed that Iraq is close to reaching an extraction capacity of up to 5 million barrels of oil per day, while revealing the current volume of gas production, indicating that Iraq is ranked 12th globally in the volume of storage.
Abdul Ghani said in a press interview that “the Iraqi oil industry plays an important role in shaping the future of the national economy, and plays a great responsibility in supplementing the economy and advancing its burdens, especially with its reliance mainly on oil amid serious and real attempts to diversify the national economy and its sources of income.”
He added that “the Ministry of Oil is approaching coherent steps to reach in the extraction sector an extraction capacity estimated at 5 million barrels per day despite serious restrictions on oil markets and restricting the quotas of OPEC countries in order to support the stability and balance of prices.”
(F.Y.I.) In 1991, Iraq’s crude oil production was approximately 2.5 million barrels per day. (Dinar at around 1 IQD = $3.22 USD)
Fast forward to 2023, the production had increased to around 4.22 million barrels per day (Dinar at around 1 IQD = $0.006)
(Do you see something fishy here? ☹ And now in 2024 they are announcing that it is close to 5 million barrels per day. Oh… but the dinar is still at 1/6 of a penny? It is like they are ignoring the oil assets already on hand in determining the rate of the dinar. Even before the 1991 invasion they were producing 2.5 million barrels per day and the dinar was around $3.22. Now they are producing twice as much oil. So what’s going on here?
I am not giving you this information to hype you up and get you all excited for the new rate. What rate? We still sit here over a year after war sanctions have been lifted. I am doing this to disgust you and make you angry in knowing how they are and have been artificially manipulating the dinar and playing games with Iraq’s wealth, thus the very lives of the people. This should make us all made and sick and tired. Hey…wait a second, aren’t they fully out or sanctions from the wars? So what the hell? ☹)
