The budget have to be approved by the parliament...Sudani cannot make a decision by himself...The budget doesn't have to be approved by parliament...it's not true. They have pass by the parliament and parliament have to vote for it.
Any changes on that budget the parliament have to agree into it and have to vote for it and have to sign it and send it to Sudani and then the president of Iraq...It is active yes but not completely active. Any changes have to be approved by the parliament of Iraq.
People calling me since last Thursday asking me, 'We hearing the exchange rate will change on Monday?'
...I didn't see anything about Monday. I see really good news. I believe with all this going on they should go for it. I think they're ready. I don't know when or why not. Some people saying Monday...before the end of the month...May... July. It's all prediction. I wish it could happen now. Today...Let's watch it...
🇺🇸💥❤️🇺🇸. Iraq is allowing the dinar to float to close the gap between the official exchange rate and the parallel market rate.💥💥💥Nader today. Good news! 🇺🇸💥❤️🇺🇸
🇺🇸💥🇺🇸. Remember that on March 11, Monday, there won’t be anymore money to lend for loans. What will the banks do? 💥💥💥. How long would that go on before the banks break not having any money? Boom boom boom 💥💥💥.
What they will need is their own liquidity of cash. 💰💰💰.
Where would they get the cash liquidity they need??
From the people redeeming their foreign currency. 💥💥💥.
That money will be immediately invested in the banks at a special high interest rate! 💥💥💥.
It will be a win-win situation for everyone! Let’s Go! 🇺🇸💥🇺🇸👇👇👇
🇺🇸💥🇺🇸. Remember that on March 11, Monday, there won’t be anymore money to lend for loans. What will the banks do? 💥💥💥. How long would that go on before the banks break not having any money? Boom boom boom 💥💥💥.
What they will need is their own liquidity of cash. 💰💰💰.
Where would they get the cash liquidity they need??
From the people redeeming their foreign currency. 💥💥💥.
That money will be immediately invested in the banks at a special high interest rate! 💥💥💥.
It will be a win-win situation for everyone! Let’s Go! 🇺🇸💥🇺🇸👇👇
Shocking documents from Iraq's Federal Board of Supreme Audit have uncovered a massive corruption scheme. Over 151,000 citizens were involved in the illicit buying of US currency...[They] obtained dollars at the official state rate for travel purposes but never left the country. The black market refers to them as "ghost travelers".
[We] are thinking the Iraqis sold the dollars for more money than they invested. As a result of the corruption Iraq's Central Bank employees, private banks, currency exchange companies and tourism firms were all involved. This is a $600 million corruption scam involving the US dollar...
When in Washington, DC he [Al-Sudani] met with the chair of the governing board of the JP Morgan Development Finance Institution (DFI), Daniel Zelikow. Prime Minister Al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday during his visit...In Davos, Iraqi Prim Minister al-Sudani with Mr. Khaled Haballah, the regional CEO of JPMorgan Chase for the Middle East and North Africa...
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
Al-Sudani met with the Iraqi community in Washington DC and other American states on the sidelines of his official visit to the United States. Al-Sudani conveyed gratitude to the Iraqi communities in the US and throughout the world, emphasizing that Iraq is for all Iraqis and that the country needs the knowledge, experiences, opportunities and initiatives of Iraqis in the U.S.
The prime minister indicated the Iraqi government is working on establishing a department for expatriate affairs to be able to communicate effectively with the Iraqi community around the world...
On April 15th President Joe Biden will hold Prime Minister Al-Sudani of Iraq at the White House. This meeting is a crucial opportunity for the United States and Iraq to discuss common priorities and strengthen their bilateral partnership.
FRANK26: "YES, IT DEPLETES IT... BECAUSE THE NEW EXCHNAGE RATE INTRODUCES THE LOWER NOTES."..........F26
Economic: The fixed dollar exchange rate depletes Iraq's foreign currency reserves
5/3/2024
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?”
Rebuilding the country is not going to happen anytime soon with 1310...Obviously they've got something else in mind because they've already said they've launched the projects, therefore there's contracts involved. What the rates are with the contracts that's private information...They know how to keep things quiet until the right time...
Article quote: "The dangers of the exchange rate fluctuations in the event that demands for floating the dinar are met..." This is a topic that's been out there...fixed exchange rates... They're talking about a new exchange rate...fixed exchange rate or floating exchange rate. They're talking about it for one reason, because a new exchange rate is coming...A. Are they going to float the currency? B. Are they going to peg it to a currency or a basket of currency and fix it?...
Everything is falling in line for Iraq to go international. You haven't see the salaries paid yet...you haven't seen the oil start pumping yet into Turkey...Why? Because they haven't shown us or exposed an international real effective exchange rate. That's my view on it.
When you talk about drop the three zeros...Al-Sudani's goal is to bring purchasing power to the his citizens. When he said $0.76, that's purchasing power. It's not a lop. It's purchasing power. If you have a lop you don't have purchasing power, you just have a change in denomination...They're going to bring purchasing power to the citizens. All of that is happening before our eyes.
Quote on X [Formally Twitter] There's some information out there today that says the Central Bank of Iraq's governor has advised citizens to get ready for a currency exchange
...Whether it's true or not we're going to find out...The reason why I bring it up is because that kind of to be expected, they're having financial inclusion...they're talking about that.
