DINAR REVALUATION

Friday, May 31, 2024

"STATUS OF THE RV" BY MNT GOAT, 31 MAY

STATUS OF THE RV

Did you listen carefully to the opening audio dialogue of today’s Newsletter? If not, go back and listen to it. The train is moving faster down the tracks now than ever before.

I wanted to share an interesting conversation I had yesterday with my CBI contact this past Wednesday. We talked about our families and then went into information about the Iraqi dinar information. I was told that the committee to work on the Project to Delete the Zeros has sent the CBI prepared articles to the news media for the sake of educating the citizens on the upcoming process. However, they are dated and so they are for the near future and not for current news. Yes, they are getting ready and moving ahead. I asked them about these TV screens broadcasting education about the lower denominations and they told me that this is not yet being broadcast. They asked me who told me this. I told them people in the US are telling investors of this news. Again, they told me it was all nonsense. So, my conclusion was that someone is filling these intel gurus out there with stupid hyped up nonsense. My suggestion is to stay away from people like this and their lies. Next, I was reminded again, as I was in the past, that the CBI is hiding nothing and will hide nothing in regards to raising the value of the dinar. That when it is time to notify the people of Iraq of any event of a revaluation, it will not only be televised but also on news articles all over the Iraq media channels.

I then wanted a verification if the status of the parallel market versus the official rate. I was told this is still a priority and the rates in the parallel market did for a couple days were very close to the official rate but that this could just be temporary. The Central Bank needed a period of time to watch these rates. I was told the effort of the CBI to loosen up on the dollar in certain sectors, where the black market dominated, did help the situation and this only could be accomplished once tightening first took place. I was also told there was a shift occurring in the obtaining of the dollars from the banks away from street vendor exchangers which is a positive sign that the official rate is taking hold, finally. These are all good signs they are showing yet more stability and consistency. I was also told this was all in line with what the CBI wanted to see at this time, as the electronic platform is to end in June.

So, I will add to today’s news that I am a bit sick and tired of these idiots telling us of these BIG screens in Iraq and of the CBI broadcasting news of the lower denominations. Simply put…. NOT HAPPENING! It is all just lies, get it? Think, Think, Think! If there were actual broadcast on Iraq TV of the newer lower denominations, or any education in this matter, then why has someone, anyone, not taken a video with their cell phone of the broadcast? I will tell you why. It is because they can’t do it because IT DID NOT OCCUR not yet. This does not mean it will not occur and sooner than later, but not yet!

Why the rush to tell so many lies!

What else is in the current news?

There was news of an article that stated and I quote – “The budget is not affected by the rise or decline in dollar exchange rates, because Iraq will receive the dollar from the export of oil, and on the contrary, revenues increase as dollar prices increase globally,” from {Euphrat News}.

All I can say is “I told you so”. The rate of the dollar to the dinar will NEVER be in the budget. How many times must I say this to you? Now once again we read an article confirming again what I have been telling you. Please stop all this stupid hype about the new RV rate being published in the 2024 budget. Read my lips – NOT GOING TO HAPPEN! I will tell you why. Continue reading….

The budget is dependent on the price of oil. Do you get it now? Their words not mine. There is no reason to put the rate of the dinar inside the budget. It does not even make any sense. Yes, the price of oil is in the budget as the budget is dependent on the oil revenues, which are in US Dollars.

What else is in the current news?

The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed today, Wednesday, the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next week. Folks this is all positive news and exactly what we should expect to see at this point in time. Yes, it is now all about the Banking Reforms. This is what is going to get the dinar to officially pass the dollar. We already know the value is greater and so now we just need to go through the motions to get it recognized to its true value. This part is all political, yes just politics. And so please don’t tell me politics does not play a role in all this. I will say it again in that Biden is not going to let the dinar revalue. I have explained this to you before as to why I feel this way.. Sorry if the TRUTH hurts. Could some miracle happen to take him out of the Whitehouse prior to November? This could happen and I believe it MAY happen, but I have no written proof it that it will. It is just my best intuition as a woman and the knowledge I know about what is going on in Washington DC right now.

The head of the Iraqi Private Banks Association, Al-Handal said, in a statement reported by the official news agency and seen by Al-Iqtisad News, that “the Prime Minister’s recent visit to the United States of America had a great impact on the understanding with the American side,” indicating that “what is important in this understanding is the formation of the committee that will begin… Its first meeting is at the beginning of next June 2024.

We must now buckle down and pray and pray like never before for the success of Al-Sudani and his agreements with Washington are implemented. Pray for the U.S. in that there are strong enough representatives in Congress and the Senate who will stand up and continue to fight to uphold the US Constitution and keep fighting this Washington corruption. Pray that that God’s Hand will intervene and save our great country.

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

May 29th Recorded Program BY DAVE SCHMIDT

Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy., 31 MAY

Professor Frank Gunter launches a new white paper on de dollarisation of Iraqi economy.

29th May 2024

‘Two Cheers for Iraq: The Dinar – Dollar Exchange Rate Challenges’

Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC’s advisory council on the challenges of de-dollarisation for Iraq.

The Advisory Council members and IBBC members have actively contributed to the paper in the past 4 months. It will be presented online on the 18th June in a webinar and in person at the Spring Conference on 2nd July. The Arabic translation will be published soon.

Professor Gunter provides an analysis of the drivers of impact on the dinar exchange rate and examines how best to deal with the parallel market of dinars to dollars. He outlines the practical policy initiatives that should reduce the gap between the official and parallel exchange rates in the medium-term.

In particular he lauds the Government of Iraq on its commitment to tackle corruption and to modernise the banking system in one fell swoop but warns of the pressure on the dinar exchange rate as budgets are overstretched and the new banking recipients (state banks) receive the liquidity to enable the economy to perform.

He writes ‘All three of these forces – the anti-corruption effort, the banking liberalization, and the lavish 2023-2025 budget – will create challenges for the management of the dinar exchange rate. One could argue that over the last two decades the Government of Iraq (GoI) had little control over its exchange rate; that exchange rate policy was determined by other sectors of the political economy in Iraq. But even if this is true, the level of the exchange rate and changes in that level are believed by many Iraqis and foreigners as providing valuable insight into the quality of economic management in Iraq.

This importance is exemplified by the current efforts to de-dollarize the Iraqi economy while there is excess demand for dollars. This excess demand is shown by a parallel exchange rate of roughly 1500 dinars per dollar compared to the official exchange rate of 1310 dinars per dollar.

An important cause of this exchange rate gap is that the GoI, with the strong encouragement of the U.S. Federal Reserve, is attempting to reduce the use of the U.S. dollar in both Iraq’s internal economy and its external transactions.

Since 2003, the U.S. dollar has facilitated economic growth in Iraq by providing a widely accepted medium of exchange for purchases as well as a reliable store of value for savings. In the long run, whether de-dollarization will have a significant adverse impact on the Iraq economy will depend on how rapidly the GoI can increase both the efficiency of alternative mediums of exchange and the perceived security of alternative stores of value.’

The report is available here to download.

https://iraqbritainbusiness.or.....qi-economy

"RV UPDATE" BY MNT GOAT, 31 MAY

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraqi dinar | CBI Announce IQD New Rates June 9th | Iraqi Dinar News Tod...

Adopting international standards brings Iraq closer to the International Labor Organization, 31 MAY

Adopting international standards brings Iraq closer to the International Labor Organization

Consensus on the importance of strengthening the work sectors in the public and private sectors, and in the financial sector in particular, by adopting governance, risk management and compliance procedures and their role in evaluating performance to achieve goals and avoid economic diseases of all kinds, and to bring Iraq closer to the international labor system.

Advisor to the Prime Minister for Financial Affairs Dr. Mazhar Muhammad Saleh said during the Governance, Risk Management and Compliance Forum organized by the House of Wisdom for Training and Consulting: The importance of the forum stems from focusing on three axes that are extremely important for evaluating performance within institutions, whether public or private, pointing out that governance does not allow deviation from compliance rules. The basic principles are that creating performance paths that serve the country requires commitment to these important and internationally recognized standards.

Saleh stressed that adherence to established policies is extremely important in the internal auditing process and is no less important than high disclosure and transparency, pointing out the importance of there being true integration in building human capabilities through solid training and education curricula that create competencies that rise to world-class performance.

The speech of the Acting Chairman of the Finance Committee, Atwan Al-Atwani, which was read out, confirmed that the issue of governance in public and private institutions receives international, regional and local attention as a result of the expansion of the size of institutions, due to the technological development witnessed by the world and the challenges that have been created that require a new business philosophy.

He pointed out that the GRS system is of great importance, especially in the banking sector, as well as for adopting a huge amount of data in public and private institutions via the Internet, and to achieve the goals of this system, we find that it turns data into smart data of value for institutions.

As for the authorized director of the House of Wisdom for Training and Consultations, Hisham Khaled Abbas, he stated that the forum represents a new approach that expands the importance of this concept, and that the role of governance is to promote effective management that achieves results that enhance the reality of the institution, succeeds in achieving goals, and touches on the broader results and objectives of the national economy seeking to evaluate performance and advance the economy. in general.

He stated that keeping pace with global developments is extremely important and brings us close to the international labor system and enhances confidence in the Iraqi labor market, which is looking for an international presence to complete many works, especially in the investment field in various sectors without exception, at a time when we find many major and specialized international companies looking to... Iraq is of particular importance and the business environment is studied very carefully.

Abbas pointed out that governance, compliance, and risk management are important axes that keep us close to important international and regional economies. link

"EVERYTHING ON THE NEW QFS EITHER RELATES TO GOLD OR IT IS BACKED BY A PRECIOUS METAL" BY GOLDILOCKS, 31 MAY

GOLDILOCKS

Everything on the new QFS either relates to gold, or it is backed by a precious metal.

These new digital standard protocols will be the mechanism by which money is moved going forward.

The future of money is in gold. Everything the world touches going forward will be because of a metal asset that enables it to do so.

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GOLDILOCKS

Professor Frank Gunter publishes a new paper commissioned as part of a series by IBBC's advisory council on the challenges of de-dollarisation for Iraq.

Professor Gunter shows an analysis on the drivers inside the market that impact the Iraqi Dinar exchange rate and how to close the gap between the Parallel Market and Official Rate of the Iraqi Dinar.

The Iraq Britain Business Council (IBBC) has been working closely with Iraq to help assess and meet the needs of the Iraqi private sector. These assessments inside this research paper will go a long way towards the implementation of meeting the needs of Iraq's private citizens through a determination of an exchange rate that can do so.

Practical policy initiatives are mentioned in this paper to carry forward new monetary policies. They are not calling this project a white paper, but it sure does have all the hallmarks of one.

These new measures are inclusive of budgetary needs for the Iraqi people. One of the items on the CBI website presented today are instructions on home loans. A mortgage is calculated with the inclusivity of an exchange rate to support it.

It is clear that the Iraqi Dinar is moving towards a credit valuation adjustment that can support the needs of their people and Government.

https://www.iraq-businessnews.com/2024/05/29/iraqi-dinar-ibbc-issues-major-new-paper-on-de-dollarisation-of-iraq/#google_vignette

https://www.investopedia.com/articles/forex/053115/understand-indirect-effects-exchange-rates.asp

https://iraqbritainbusiness.org/

https://iraqbritainbusiness.org/news/professor-frank-gunter-launches-a-new-white-paper-on-de-dollarisation-of-iraqi-economy

https://www.indeed.com/career-advice/career-development/what-is-a-white-paper#:~:text=What%20is%20the%20purpose%20of,solution%20on%20a%20particular%20issue.

https://cbi.iq/news/view/2596

https://dinarevaluation.blogspot.com/2024/05/it-is-clear-that-iraqi-dinar-is-moving.html