"SALEH SAID WHAT IS IMPORTANT IN THE MONETARY REFORM" BY FRANK26, 1 MAY

 KTFA

FRANK26: "SALEH SAID WHAT IS IMPORTANT IN THE MONETARY REFORM".........F26

A Sudanese advisor reveals the reasons for the decline of the dollar and its proximity to the official price

 

4/28/2024

 

 The financial and economic advisor to the Prime Minister, Muhammad Mazhar Saleh, revealed today, Sunday, the reasons for the dollar’s ​​decline and its proximity to the official price.

 

Saleh said {to Al-Furat News} that: “The exchange market achieved a decline in dollar prices during the past six weeks with a rate of change in favor of the Iraqi dinar approaching 9%, and that all of these positive developments work in the interest of the strength and stability of the Iraqi dinar and this reflects positively on the general level of prices, which is still... It indicates annual growth that does not exceed 4% and is measured periodically.”

He added, "The efforts of economic policy have truly combined to impose a climate of stability in the general level of prices, which was indicated by the state of superiority of the official exchange market in financing Iraq's foreign trade in the face of the decline in the effects of the parallel market and the decline of its illegal activities in a gradual and accelerating manner now."
Saleh pointed out “a number of factors that contributed to this positive development in the exchange rate of the Iraqi dinar, as at the forefront of those factors comes the increased capabilities of operating banks to comply with external transfer rules and the high percentage of requests requested and executed in foreign currency by the private commercial sector to finance trade.” External transfer accounts for approximately 85% of the total requests from official transfer outlets.
He continued, "It is now being implemented with great speed and efficiency, compared to the previous period, which did not exceed 30% of the total desired demand for foreign currency, which then caused great pressure on the parallel exchange market, which means that the foreign currency window has now begun to meet most of the demands." The base is based on the desired dollar, at an official exchange rate of 1,320 dinars per dollar, with high flexibility and compliance, instead of illegally resorting to financing foreign trade using parallel market methods with high risks.”
Saleh added, "Also, the growing strength of Iraq's foreign reserves, which exceeded 110 billion dollars, and at the same time indicates the high standard of Iraq's commercial efficiency, which exceeds {eighteen months of imports} compared to the global standard of {three months of imports}."
In light of the above, the Sudanese advisor affirmed, saying, “The stability of external transfer operations at this level of growth and improvement will undoubtedly provide sustainability in the state of stability in the exchange market, which will undoubtedly make the parallel exchange market approach the official market.”

Today, Sunday, dollar prices recorded a decline with the closure of the main Kifah and Harthiya stock exchanges in Baghdad, recording 145,200 Iraqi dinars against 100 dollars, while dollar prices recorded this morning 145,700 Iraqi dinars against 100 dollars.

From: Raghad Dahham

LINK

 

Bitcoin Crashes: How Low Can It Get? This Is The Floor | Jake Boyle

BRUCE'S BIG CALL DINAR, 1 MAY

 Bruce’s Big Call Dinar Intel Tuesday Night 4-30-24   REPLAY LINK   Intel Begins   59:25

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHJzA

Welcome, everybody to the big call tonight. It's Tuesday, April 30TH and you're listening to the big call -  Thanks for tuning in all over the globe. Thank you – big call universe wherever you're located all around for tuning into this day, and we're excited to be here. We're excited there's a lot going on. And we, we can’t wait to bring it to you. So let's do this - let's pray the call in, as we do on every call 

Intel wise, as you guys know, since our last call Thursday, five days past, and we get things every day and sometimes things come and go. They'll get intel that no longer hands out or is it a significant as it was when we get it live, but let's just talk a little bit about what is happening now. 

Now one thing that's really big that started this morning, and fully implemented at 6:05am was a what they're calling a global take down of the bad guys -  this is something that started here is going all the way around the globe. Will take 2-3 days to complete, and this is cleanup. 

This is more cleanup. It's close to half a million people. it's a big deal. And this should take care of the majority of the deep state and the people that they've got on their list pick up just a short and sweet version of that and its in full swing as we speak -  so – that’s good -  

But  does that have to complete before we start? No, that's the good news. This is ongoing probably take another two or three days to complete, but doesn’t affect us. 

Now, bondholders tier 4 tier 3, tier four - We're still waiting to be notified with our emails, set appointments, bondholders are looking for the email to give them access to their funds in their accounts. They're waiting as well. 

But the good news is, from what we're hearing what we're hearing from one of our redemptions centers -  one of the leaders of one of the redemption centers that were in touch with - is saying now,  did we think we might get notified today, Tuesday. Yeah - We thought we might it didn't happen. 

But obviously we're deferred to what's next. What's next is this particular leader said we should get our 800 numbers tomorrow. That's Wednesday.  The theory is once we get the 800 number – we set our appointment  and maybe we start Thursday, 

We may not start tomorrow, depending on when it comes in. but we could very welll get the number set our appointments and start our exchanges on Thursday. 

Now that's the long and short of it as far as where the Intel is. 

Out of Iraq - Our sources are getting us this. They are saying that tonight  the global reset begins.

I think they're referring to tonight, like at midnight or overnight tonight. Remember Tomorrow is the first of May. I thought we might get notified today and start on the first day. But it looks like what they're doing is  notifying us on the first and hopefully starting on the first or 2nd of May which will be Thursday the second I think that's very, very possible - At this point 

Our other source that is not Iraqi, also came in with something that was virtually the same. He said everything begins “tonight”

So that's really not the same as long as we're hearing out of Iraq. Everything begins tonight. We know that the quantum financial system has been connected globally – finally, we know that the pricing went up was it that was Oh, the Emergency Alert System has been fully interconnected. and it's probably interconnected also through the starlink satellite system. 

So all of these systems have been interconnected,  and we understand internationally all  countries are on board. So it looks like the NESARA  and I believe GESARA will be announced somewhere around the second or third of May. That's a couple of days away. We should get some action on that.

I think that's terrific news. I think we've waited a long time for this and we're in good shape. Hopefully getting notified and setting our appointments is over 50% of the battle. We really look forward to that. If it's tomorrow - and we don't know what time it is tomorrow - that is a huge win for us. Absolutely huge. 

And we're looking forward to that. We're looking forward to setting our appointments  up quite possibly getting exchanges on Thursday, the second of May. 

Now we went all the way through April. We thought we could get a number of things happened that we did not receive yet. but I'm being told from our source on R & R that we should have that in the month of May. and we should get an increase in Social Security - for those that qualify that are of that age - in the month of May.

So may it looks like it's gonna bring quite a bit, our April showers bring May flowers – and that’s good news  I'm excited about where we are – I think the timing, hopefully is accurate. 

I've told you guys several times now. All we need is for this Intel to be right one time and I'm saying that about this too. Right now it's looking great. Let's believe with all the faith, that that is exactly what is going to happen. And we'll put our faith to this. And we'll say that's exactly what we want to happen and we expect to happen. 

So that being said  --  Thank you Bob and Sue - thank you GCK and Jeanie - and Pastor Scott  - and thank you to the SAT team has been getting the big call out all over the globe. Thank you for that. And thank you listeners to the big call, which I call big call universe all over the globe for tuning in. I hope this is our last call. Let's see, based on what happens tomorrow. We'll see what happens. All right. Otherwise, let's have a great night's sleep. And let's see what tomorrow brings. And then we'll pray the call out now and we'll look forward to a really, really wonderful day tomorrow

"THE MONETARY REFORM EDUCATION IS WELL FIXED" BY FRANK26, 1 MAY

 KTFA

FRANK26: "THE MONETARY REFORM EDUCATION IS WELL FIXED".....F26

A fixed or fixed exchange system for the Iraqi dinar

Mahmoud Dagher

   

 

4/29/2024

First: a fixed system:

 Rentier countries seek to adopt a fixed exchange system (pegged) to a strong foreign currency or several currencies (a basket of currencies) to ensure the stability of foreign transactions, as long as they export one depleted commodity and import many goods and services, and they are called “small open countries.”

 Despite the agreement that the floating currency system is considered the best in terms of relative response to the performance of the external economy and the lack of need for sometimes excessive use of foreign reserves to defend the official value in the peg system, the abundance of reserves and the need for stability in foreign transactions have a major impact on the economy. Overall, rentier countries are likely to adopt a fixed exchange rate system.

Iraq is one of the economies whose monetary authority adopts an openly fixed exchange rate system (De jure) and strives to be realistically fixed (De facto). The Iraqi dinar’s peg is classified as a “soft peg” peg that includes accepting a fluctuation of no more than 2% during the period. The last 6 months of IMF audit and 1% average volatility continuously (ereare,IMF,2021).

When dealing with the dinar exchange rate, a distinction must be made between the fixed exchange rate that affects the market, and the contractual exchange rate between the central bank and the Ministry of Finance when selling its dollars to the central bank (which is proven in the budget for the public revenue account), and the market exchange rate remains the most important because it is dealt with in the markets as a value. Reference.

The official dinar exchange rate went through (roughly) the following stages:

From 2004 – December 2020: Buying: 1190 Selling: 1200

From the end of 2020 - February 2023: Buy: 1460 Sell: 1470

From February 2023 until now: Buying: 1310 Selling: 1320

It is noted that there are 10 points (10 dinars) between purchasing banking and non-banking financial units (exchange companies) and selling them to merchants (transfers/credits) or to individuals (in cash) (noting that there is a change within the ten points for motivational purposes, but it is not extensive) Therefore, during the years 2020-2023, the monetary authority did not leave the fixed exchange system, but rather moved from one fixed exchange rate to another fixed exchange rate, according to what it saw fit in the interest of the overall economy and well-being.

It is natural that the repeated transfers from one constant to another over a short period of time had an impact on the balance levels of the dinar and the size of the gap between the official and market exchange rates. This was reflected in the shifting of financial positions in favor of those holding the dollar again and again in favor of those holding the dinar. It even had an impact in changing The financial positions of creditors and debtors at each change, noting that those with dinar salaries and income are most affected by the gaps and fluctuations between the official value and the market value of the dinar, especially since changing the amount of the assessment was reduced (12-20-2020) and then raised (2-7-2023). It has a clear positive impact even on the macroeconomy, in addition to being a deviation from targeting stability by essentially adopting a fixed exchange rate system.

Second: An installed system

 There is no doubt that the dinar exchange rate is determined through the dealings of the banking or non-banking financial units that buy the dollar at a fixed dinar price from the central bank (cash or promotion) with the importing public (merchants) or travelers (cash), that is, whoever determines the market dinar exchange rate ( Then the dollar exchange rate) these units deal with customers, and then following up on what happened since entering the platform at the end of 2022 until now, we find that the dinar’s story took two stages:

- The merchants’ stage: In the beginning, the importing merchants were obtaining dollars (remittances, credits: which are the largest part of daily currency window sales), at a price of 1,320 dinars/dollar, but the merchants set the margins of their imported sales according to the (parallel) cash price, and thus the merchants practiced speculation. The margin of the exchange rate gap, rather than the trading margins of their activity. This behavior is consistent with the state of profit allowed by the market and the prevailing nature of control.

This stage witnessed a gap of up to (1320 - 1550), meaning a margin of 230 points and an exchange gap of (approximately 17%).

- Participation stage: After the banking and non-banking financial units that buy the dollar from the Central Bank (1310 dinars/dollar) became certain that the gap between what they sell (1320 dinars/dollar) and what their merchant customers sell for

(1500-1550), began intervening to share the margin with these clients, and by imposing commissions amounting to

(3%-7%) on dollar sales to customers, whether in cash or promotions. Rather, it was transferred to cards and Western Union under the name of commissions.

So, the price of the dollar moved from (1320 to 1500) and thereabouts, being shared between banking and non-banking financial units and merchants, and it was almost (1320-1400) the share of financial outlets (so 1400 is the cost of purchasing the new dollar instead of 1320.

More than 1,400 are owned by merchants.

Therefore, the natural and legal public is faced with:

- The official price is 1320.

The price for banks is about 1,400 for transfers and credits.

The price for banking companies is slightly higher than 1,400 for cash and transfer.

The price for merchants is between 1400 and 1500.

Therefore, the exchange system became fixed (by cap) (not fixed) and the cost became approximately 1400 dinars / dollar, due to the cap set by the banking and non-banking financial outlets, and in this situation the fixed exchange system was lost (1310-1320).

Therefore, the continuous stabilization has become dependent on the mutual pressure forces between the merchants’ margin of the currency and the margin of the financial outlets of the currency:

                    Leaving the real margin represented by the added value resulting from financial and commercial activity.

The reflection of this does not stop at the crack in the fixed exchange system adopted by the monetary authority, which is published in the IMF documents through the Fund’s annual (ARERE) report, but rather goes beyond that to the disparity in the exceptional profits achieved by financial outlets compared to others (due to commissions) in a way that approaches monopoly. For the banking market, which is based on the difference in market share, due to the availability of important correspondents for this outlet compared to the other.

Returning to stability has become limited to the efforts of the following:

• Follow up on commissions (Central Bank).

• Follow up with customs for the entry of goods.

• Follow up with the authorities responsible for financial crime (reporting office, economic crime) to follow up on unregistered commissions for fear of their incorrect use.

LINK

"ABOUT THE FINANCIAL INCLUSION AND ELECTRONIC PAYMENTS IN IRAQ" BY GOLDILOCKS, 1 MAY

 GOLDILOCKS

 Department at the Central Bank of Iraq and the Association of Private Banks organized the activities of the Arab Financial Inclusion Week at Al-Muthanna University - College of Management and Economics, in cooperation with the International Labor Organization.

The events included a seminar to introduce financial inclusion, a lecture on electronic payment and digital inclusion, as well as various lectures on financial stability, financial education, and the green economy project, in addition to concessional financing services for young entrepreneurs and businessmen.

It is noteworthy that these activities come within the Financial Inclusion Week, which began on April 27 and continues until May 2, with the aim of enhancing financial awareness and promoting financial inclusion in Iraqi society.

 

Central Bank of Iraq

Information Office

30 - April - 2024

https://cbi.iq/news/view/2560

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