So, in today’s news we read multiple articles coming out from the CBI and the Iraqi news telling us about yet more “WOW!” news. The nice part about it is much of this news is confirming what my CBI contact told me recently so my trust level of my contact increases too.
I want to fully explain it in detail to you and why I feel this way and what we should look forward to soon.
I wanted to continue with the list below and add more each month if anything changes. So, as we are nearing the end of April, as part of the Reforms, we have added a few new items. This new development along with the others listed push us even closer to the RV/Reinstatement. So today we chalk up yet seven (7) more major events. Look at how this list increased in April alone, like no other month in the past. WOW! WOW! WOW!
- We know they are completely out of Chapter VII sanctions since December 2022, and so why not treat them as such?
- We know they want the Iraq funds (nearly USD 115+ billion) released from the NY banks and put in their custody to do what they want with it. They are tired of being bullied by the U.S. with their own money.
- We know they have plans for yet more Sovereign Funds to invest their reserves.
- We know they are making agreements now for “currency swaps” for trade with Iran, China, Turkey, Kuwait, Emirates, and many EU countries as Iraq will no longer be using any US dollars in Iraq as of January 1 st 2024.
- We know that the IMF is now working on the final stages of pulling together agreements to build a new basket of six (6) currencies to re-peg the IQD.
- More pressure from Iraqi economics advisors to the government to use a “basket” of currencies for the new dinar peg. This is the IMF plan of 2011 all along.
- We know since January they have undertaken a massive “de-dollarization” program and told it should have taken 6 years but they decided to do it in 1 year (2023). Why such a hurry?
- We know the value of the IQD right now does exceed even pre-1991 era but still at 1/6 of a penny for a rate? The value won’t go up, its already there. Get it? Why is it being suppressed? Iraq needs to see a rate reflecting the TRUE VALUE. What is holding it back?
- We know Iraq now pumps 2/3 more oil than in pre-1991 era.
- Iraq also has announced 132+ tons of GOLD reserves.
- We know they are pushing this year alone, more than any other year since 2005, for the passing of Oil and Gas law. Why?
- We know for a FACT that it is the U.S. through the Treasury Dept. direction that will NOT give sign-off to allow the reinstatement. Why?
- Finally, the CBI has told us many times already that January is the most opportune time to reinstate for accounting purposes, since it begins their new FISCAL year (for accounting purposes).
- Imminent World Trade Organization full accession
- The Central Bank of Iraq is heading to cancel the electronic platform and the currency auction in 2024.
- Banks will be responsible for financing foreign trade directly through the dollars they own and not from the CBI reserves.
- Banks will be fully responsible for auditing invoices and transfers, which is the practice globally.
- We know the euro, the Chinese yuan, the Turkish lira, the Emirati dirham, and the Indian rupee currencies have become available to merchants for the purpose of financing foreign trade. When a merchant imports goods from China, he can now pay the Iraqi dinar to the Iraqi bank.
- Announced the application of Customs automation according to the newly global ASYCUDA system. Border crossings, customs, and taxation whose annual value amounts to nearly 60 billion $$$$$$ on average. Huge revenues that can rival the oil revenues
- We were told that Iraq will leave government cash dealing and switch to 100% electronic collection in mid-2024.
- The political analyst, Abbas Al-Ardawi, confirmed that the visit of Prime Minister Muhammad Shia Al-Sudani to Washington came to liberalize the Iraqi dinar and stabilize the economy.
- Iraq announces a new stage of standing on its feet after 20 years of political conflictsince 2003. A new stage of cooperation with the US. by a Strategic Framework Agreement (SFA), an agreement between the United States and Iraq is a significant document that shapes their bilateral relationship going forward.
- There is a decision issued by the Central Bank to cancel the window of selling and selling foreign currency in 2024 (not just thinking about it anymore).
- Al-Sudani, announced on Saturday that a satisfactory agreement had been reached with the American side regarding Iraqi sanctioned banks that are prohibited from dealing in the dollar currency.
- The Development Fund for Iraq (DFI) established after 2003, under sanctions has ended and remaining funds will be released to Iraq.
- The current US President, Joe Biden, may not sign the Exec order 13303 decree extending the state of national emergency related to the situation in Iraq for another year which expires May 20th. There no longer remains reasons for it since the DFI ended. The 13303 and DFI are NOT strength they would be still dependence. Excellent sign for Iraq.
- Announcement of the start of a strategy to invest in Iraq’s third largest natural wealth of huge reserves of phosphate, a potential of billions of revenues for Iraq.
Please just be patient! I will get into the details in my Newsletter today on each of these subject areas and explain why each of them could be a “WOW!” news items in itself. So, relax its coming! 😊
The reinstatement is coming, it won’t be years anymore and I firmly believe from what we already know and what we are now witnessing, the writing is on the wall, but just not yet.
Do you hold large sums of Iraqi dinar? Are they the larger three zero notes issued after 2003? If so, you just might be a millionaire sooner than later. In the month of April, Iraqi reforms has made monumental leaps and bounds even since 2023. Folks, it’s about to EXPLODE! 😊 It is now openly evident not just some idiot intel guru talk. It would be foolish to turn back now. Full speed ahead, choo-choo.
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