DINAR REVALUATION

Monday, June 3, 2024

💥WOW IRAQI DINAR GOTTA WATCH THIS💥 BY MELANIA

Iraqi Sunni politician criticizes UN mission, backs its planned exit, 3 JUNE

Iraqi Sunni politician criticizes UN mission, backs its planned exit

Shafaq News/ A prominent Iraqi Sunni politician, Atheel al-Nujaifi, on Sunday criticized the United Nations Assistance Mission for Iraq (UNAMI), calling its role marginal and often favoring the ruling party.

Al-Nujaifi, a leader in the Muttahidoun Party, told Shafaq News Agency he does not believe UNAMI's withdrawal by late 2025, as requested by the Iraqi government, would negatively impact the country.

"UNAMI's effectiveness has been limited," he said. "While it achieved some success in resolving local disputes in the early years after the 2003 invasion, its role has become marginal and often aligned with the strongest party in power."

"The success, in its early days, was only a catalyst for the Iraqi parties' willingness. It only happened because the Iraqi parties were seeking a solution," he added.

Al-Nujaifi emphasized the need for Iraqi-led reforms. "Any external interference will only worsen the situation," he said.

The UN Security Council last week approved the Iraqi government's request to end UNAMI's mission by December 2025. Prime Minister Mohammed Shia al-Sudani had requested the withdrawal in May, proposing that UNAMI focus on economic reform, climate change, services, and sustainable development during its remaining time.

"RV UPDATE" BY PIMPY, 3 JUNE

Pimpy

Article: "The document..The House of Representatives votes next Monday on the budget schedules" Finally after all this time. There was a huge delay.

Trump did not buy Iraqi dinars. You realize Trump has been tied to Iraqi dinar way before he was the president?

...You have to be careful about where you're getting your source from...

There are no articles out there that confirm this at all...There's no, and I mean none, proof out there that Donald Trump owns Iraqi dinar...

Article: "Expert: The Iraqi economy is witnessing a remarkable growth, with the decline in the dollar exchange rate." This is good. We need this to happen. Iraq needs it to happen.

More importantly the policies that are being implemented by Iraq are favorable amongst the IMF, World Bank and all those people who are involved with making sure Iraq stay on track, stops laundering money and financing terrorist. The more Iraq continues to stay on track and prove to the world they are going to behave themselves for now on the doors open for Iraq to rejoin the international community...

Article: "Economist: The budget is not affected but dollar exchange rates. And explain the reason" The person is saying the budget is never affected by the dollar exchange rate because the budget is based on Iraqi dinars.

Article: Central Bank of Iraq quote "There are no current plans to print new currency."

What that tells me is people don't have to worry about a lop or redenomination because in order for you to have a redenomination or a lop you have to create new currencies. It also tells me they're not creating the lower denominations which means they're going to stick with the currency they currently have. Some people see this as the glass half full. Some people look at it as the glass is half empty.

I agree it's going to happen. I don't have doubt about that. I'm just keeping an eye on whether or not they want to delete the zeros. If they go to a free floating market hopefully there won't be...deleting the zeros and we'll see the exchange rate go up pretty quick before they have time to respond...

Iraq was already a member of the World Trade Organization. They are going through the ascension process for a second time. That's because all the rules, regulations, understandings and business practices...changed once the fall of Saddam Hussein. Now we have to make sure all their practices, rules and regulations regarding trade line up once again with the World Trade Organization. Iraq has been a member of the World Trade Organization since 2004. This is their second time throughout the ascension process...

There's this misconception that the World Bank, IMF and the BIS get to tell countries what to do. They don't...They facilitate. They make recommendations but they don't control a country's bank..----.

Another budget is getting ready to come and go and there is no talk of the rate change. Isn't that what they told you? It would be in the new budget because there was no way for them to do large projects, there was no way for them to move forward without an exchange rate change...Why so secret now? Is this one of those things they're trying to keep from the people?

They didn't keep it from the people last time [they increased the value] and there's no mention of it this time...Keep your fingers crossed, it hasn't passed yet so maybe they'll change it between now and the time they pass it...You guys know what I think.

Floating the currency means the value is determined by the market, so if people for whatever reason want to start investing in the Iraqi dinar and the start buying up the Iraqi dinar that means the demand for it is there, think supply and demand.

Since they have a liquidity issue, there's not going to have a lot of Iraqi dinar out there and if that's the case then they don't have the supply to feed the demand...But we'll be more than happy to sell our Iraqi dinar back to them if they get the exchange rate up around a quarter or more. I know I would.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-pimpy-24-may.html

Iraqi Dinar - Iraqi Investors Gear Up for Major Budget Approval

Sunday, June 2, 2024

OPEC+ ministers gather in Riyadh to discuss oil policy, 3 JUNE

OPEC+ ministers gather in Riyadh to discuss oil policy

Shafaq News/ OPEC+ ministers kicked off their meeting in Riyadh on Sunday to discuss oil policy, with sources indicating a strong likelihood of extending production cuts through the end of 2025.

Insiders revealed that the first day of OPEC+ talks focuses on production strategy. These sources anticipate OPEC+ will maintain current curbs on output for the remainder of 2024 and into next year.

Invitations were recently sent out for several OPEC+ ministers to convene in the Saudi capital, the sources added.

Currently, OPEC+ members collectively slash production by 5.86 million barrels per day (bpd), representing roughly 5.7% of global demand.

Discussions are expected to touch on countries undertaking voluntary supply cuts of 2.2 million bpd, a key component of the alliance's strategy to manage supply, maintain market stability, and support crude prices. These voluntary cuts are made by Iraq, Algeria, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia, and the United Arab Emirates.

"RV UPDATE" BY DEEPWOODZ, 3 JUNE

Deepwoodz

Question: "Don't they have a deadline for these budget things by June 9th?" I think June 9th was slated as the end of their legislative session post extension. Time will tell as to the importance of it.

On the contracts...The way I see it, the two most important factors are:

1) the guarantee's, and

2) the fact that these countries and contractors have faith in Iraq to pay for the work they are doing .

Let’s say I want to do an electrical contract for Iraq. I want 1 million dollars for it. I don’t care what the exchange rate is as long as the payment I receive is worth 1 million DOLLARS. They are using dinar to pay...since January 1..

.A sovereign nation must use sovereign currency to pay their debts or they are in violation of the multi currency practices(MCP) that the IMF abhors.

Using the current rate, I would be owed 1,310,000,000 dinar. Actually, the banking system will do the conversions automatically. I won’t even see any dinar. I will receive dollars in my American account. Or euros in my European account. Or pesos in my Mexican account ...using whatever exchange rate belongs to the country involved.

Like I said,doesn’t matter to me as long as the rate translates into my 1 million dollars. Now, the importance of these guarantees and the fact that corporations are pouring in to do work after all these years. They now know Iraq is serious about paying their debts...[and] have the means to make good on their payments.

https://dinarevaluation.blogspot.com/2024/05/about-iraq-paying-its-debts-why-it-is.html