Friday, May 3, 2024

Economic: The fixed dollar exchange rate depletes Iraq's foreign currency reserves, 3 MAY

   Economic: The fixed dollar exchange rate depletes Iraq's foreign currency reserves

Economist Manar Al-Obaidi confirmed that the fixed dollar exchange rate adopted by Iraq depletes the country's foreign currency reserves.

Al-Obaidi said, “The only thing that is completely under the control of the Iraqi state is the exchange rate, which forcefully drains all foreign reserves to maintain an imaginary fixed price that traders benefit from to increase their profit margin.”

He added, "I never called for following a free-float policy. Rather, I called for a start to follow a compensation policy managed with a small volatility factor and gradually work to increase it until complete liberalization is reached."

He continued, “The alternative to maintaining the fixed exchange rate is to continue depleting the reserves until they run out and the oil market is exposed to very expected future fluctuations. Then, will we be forced, not given the choice, to an absolute floatation of the currency or a shocking reduction in the exchange rate, as happened in 2020, and then the risks will be greater and greater   link

"RV UPDATE: ABOUT THE GOLD AND ZIM BONDS" BY ARIEL

 ARIEL

 Gold is the basis for a good backed currency. Unlike fiat currencies, which can be printed by Central Banks, gold has a finite supply. The scarcity of gold means that its value is not as easily eroded by inflation. 

Gold has intrinsic value due to its rarity, durability, and universal acceptance. This intrinsic value helps gold maintain its purchasing power over time, even in the face of rising prices. 

This is why 43+ states are adopting the Gold Standard. Hold on to those Zim-Bonds because the next step is rejoining the Forex market.

 https://x.com/prolotario1/status/1786115133288120372?s=46

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Wed. 1 May 2024, Ariel: Hold onto to your Zim-Notes people.

The Zimbabwe Bond Notes (You Hold) could not be paid out in any form prior to this announcement. A Bond is a Promissory Note issued by a government and can legally not be refused.
Look at the writing on the Zim-Notes you hold. What does it say? “I promise to pay bearer on demand”.  Do you understand the gravity of this statement? Do you understand how rich in natural resources Zimbabwe is?


The Royal Bank of Zimbabwe $835,000,082,302,000,000 (13 metric tons of in ground gold estimated to yield $14 billion per annum by RBZ going forward) is the richest in the world.
People, did you know I had a private contract back in 2016 exclusively for Zim-Notes only? I have many of you this already last year.

 I even uploaded the process in a condensed format to give people an idea of how it was supposed to go. But that was 10+ years ago. Some of my followers remember that. Because a couple of them were also a part of it.

The amount of un-mined Gold in Zimbabwe is astonishing. There is more than enough to back all the millions of printed 2008-2009 Bonds alone. Not even mentioning the other minerals.
People Zimbabwe no longer just had gold backed digital coins. The paper is also being supported by the new gold standard.  

You now hold very valuable bonds in your possession. Do you know how far ahead you are of those who are oblivious to this?

The government said that Holders of physical gold coins, at their discretion, will be able to exchange or convert, through the banking system… into gold-backed digital tokens,” the Reserve Bank of Zimbabwe said in a statement inviting individual and corporate entities to use the digital currency that can be bought either in Zimbabwean dollars or foreign currency.
Zimbabwe is now in a process to get all the 2008 to 2009 Zim Promissory Notes (Bond) off the streets. This should be done very soon. Remember Iraq is doing the same thing. Everything they are doing in their local economies is to ensure maximums value for their new precious metal based economy.

Iraq Dinar Update - Expectation - Implementation - Activation - New Exch...BY MILITIAMAN

Specialist: Floating the dinar is economic suicide, 3 MAY

 Specialist: Floating the dinar is economic suicide


Economist Muhammad Hashem Helou confirmed that the central bank cannot float the dinar exchange rate.

Helu said, "The Central Bank of Iraq cannot think about floating the exchange rate because it will abandon its only influential tool in light of the weakness and disruption of other economic tools."

He added that the exchange rate is the nominal stabilizer of monetary policy in Iraq, and thinking about abandoning it is economic suicide, and the bank cannot even think about that.

He continued, adding that floating the exchange rate in the presence of a parallel market and large speculators, and the presence of people who own billions of dinars and others who own billions of dollars, will lead to a sharp decline in the value of the currency, high levels of inflation, and rising prices  link

"GET READY" BY WOLVERINE, 3 MAY

WOLVERINE
Thurs. 2 May Wolverine

 “I just received great news from Brazil. It’s going to be the greatest transfer of wealth in the history of mankind. We will soon be crossing the finish line. 

Get ready. A lot of things are happening. There are a lot of people under NDAs. My sources, which include the Central Bank of Brazil, say it’s looking good. 

I have absolute faith we will have good news by Fri. 3 May. Everything is ready to go. Everyone is happy. I’m very confident that this is our week.”

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Mon. 29 April Wolverine: Beginning April 30, 2024


 there will be a Market Reset in all Market sectors, including Forex. Everyone is ready. The Depository Trust Company has sent notice that Corporate notes or bonds, Crypto currencies, Bitcoin, or any asset in the future that is not backed by a commodity has a risk of decline in value (based on real-world assets) when the market resets to a new set of values that begins on Tues. 30 April.

 (The Depository Trust Company, founded in 1973, is a New York corporation that performs the functions of a central securities depository as part of the US National Market System).


WOW Finally Amazing Iraqi Dinar $6.44 & Vietnam Dong $4.10 Dollar | Iraq...

Parliamentary Planning: Budget changes will include schedules only and will not change the exchange rate or oil, 3 MAY

Parliamentary Planning: Budget changes will include schedules only and will not change the exchange rate or oil

Agent Executive of the Parliamentary Arranging Panel, Muhammad Karim, affirmed today, Thursday, that the ongoing year’s financial plan will continue subsequent to finishing the progressions in its timetables for designations for governorate and services projects as it were.

Karim told , “The swapping scale, the barrel of oil, and the amount traded will continue as before as per what was demonstrated in last year’s spending plan, as the three sided financial plan endorsed by the Sudanese government and supported by the Place of Delegates permitted the public authority to make changes and revisions forced by Parliament after the parliament’s vote.”

He added, “The progressions to the timetables will incorporate activities of services and governorates as per the necessities of the taxpayer supported initiative.”

Iraq’s New Technocrat PM Sparks Optimism Amid Rising U.S.-Iran Tensions #dinaresgurus #iqd

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