Wednesday, May 29, 2024
"THAT'S THE GOAL OF THE MONETARY REFORM!!!" BY FRANK26, 29 MAY
KTFA
FRANK26:"THAT'S THE GOAL OF THE MONETARY REFORM!!!".......F26
Experts expect the dollar exchange rate to fall and reach parity with the official price
5/26/2024
The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the dollar exchange rate in the parallel market was close to matching the official price, in conjunction with the increased ability of banks to meet the requirements of the Central Bank and its compliance with the rules of external transfer, while experts indicated in Financial Affairs indicated that, in accordance with government procedures and reforms through the application of the electronic currency transfer platform and the establishment of correspondent relations between Iraqi and foreign banks, its results may be reflected positively in controlling the parallel exchange rate and the black market.
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"THE CBI DEALS WITH RUMORS ABOUT THE MONETARY REFORM." BY FRANK26, 29 MAY
KTFA
FRANK26: "THE CBI DEALS WITH RUMORS ABOUT THE MONETARY REFORM."........F26
Central Bank: The issuance of new monetary denominations will not affect the dinar exchange rate
5/27/2024
Baghdad
Member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed today, Monday, that the issuance of new cash denominations, large or small, will not affect the dinar exchange rate.
Brehi told Al-Ma’louma, “Issuing rumors on social media sites about the issuance of new monetary denominations aims to create a state of confusion in the Iraqi market.”
He added, “The Central Bank of Iraq is working according to well-studied plans, and there is no intention to issue new currencies in large or small denominations.”
He explained, “If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar.”
almaalomah.me
"RV UPDATE" BY MARKZ, 30 MAY
MarkZ
[via PDK]
Question: Mark, do you still feel that this has truly started and cannot be stopped?
MarkZ: I absolutely believe this has started and cannot be stopped.
“Futures slide as bond yields spike to a 3 week high”
We are watching an inverted bond market. We are watching the short term bonds out bid and out earn the long term bonds. I was always told this is key to the reset and we are watching it live. This bond market is in shambles.
I was always told to watch for this just before the reset…and to watch for the HCL law to be passed in Iraq. We are now watching them as we approach the finish line.
This article is directly from the CBI “IMF reports it’s consultation with Iraq on Article 7 for 2024”
They want us to know how exceptionally things have gone. How they have changed the reserve requirements and how Iraq has already met the reserve requirements. Iraq’s banks hold 18% reserves. US banks only hold 2%. Banks in Iraq are much safer than US banks. This is part of moving to phase 2 of the white papers and economic reforms. What is also in those reforms is an increase of the purchasing power if the dinar. This shows the clear progress they are making.
"RV UPDATE" BY CLARE, 29 MAY
Clare
Article "The Central Bank of Iraq "denies" issuing a currency in the category of (100) thousand dinars" Quote "The Central Bank of Iraq denies issuing a new currency in the denomination of (100) thousand dinars, indicating that the image of the new currency circulated on social networking sites is a “fake” image bearing the image of the late Iraqi architect Zaha Hadid"
Article: "In light of the Middle East conflict, the World Bank expects oil prices to exceed $100" Quote: " The bank said in a report published today that a severe price disruption could lead to oil prices exceeding $100 per barrel, which would increase inflation in 2024 by about one percentage point."
Article: "Notice on the Continuation of the National Emergency With Respect to the Stabilization of Iraq"
Quote: "The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States...I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303."
Article: "The Central Bank begins the second phase of its banking reform strategy"