Expert: Dealing In The Dollar Remains And Speculation In Prices Is Temporary, 12 JUNE

 Expert: Dealing In The Dollar Remains And Speculation In Prices Is Temporary

Time: 06/11/2024 Read: 637 times  {Economic: Al-Furat News} The economic expert, Bassem Jamil Antoine, considered the issue of price speculation “temporary,” while he believes that dealing in the dollar will remain in Iraq.

Antoine told {Al-Furat News} that: “The dollar will not be cut off from the local markets because the rate of entry of the dollar into Iraq daily is no less than 3 million from the sale of oil.”

He added, "Speculation in prices is temporary and short-lived because the government was able to maintain prices through the regularity of the food basket, and there is not much demand for the dollar. The pumping continues, demands are met, and speculation operations have been controlled."

Antoine pointed out, "It is possible that there will be a slight increase during the Eid al-Adha period; unless the banks continue to take their share of it and pump it to the markets, we will be able to control it in general."

Today, Tuesday, selling prices in the field of banking in the local markets in Baghdad reached 148,750 Iraqi dinars for 100 dollars, while purchasing prices reached 146,750 dinars for 100 dollars.   LINK

"RV UPDATE" BY WOLVERINE, 12 JUNE

Wolverine on Mon. 10 June 2024

According to the intel I am receiving it looks like we are really definitely close.

I have spoken to the director of Mauricio’s platform. They are ecstatic and will have a special announcement soon. His platform is purely humanitarian, Nesara/Gesara.
Last night the intel that came in said:  Yesterday I confirmed Paymaster number one to our USA holders. Mon. 10 June he delivers the release codes and keys. 
We are very close guys, and what we are hearing that is might be happening actually midweek, probably Wed. or Thurs. 12, 13 June.  

Mauricio group has a meeting with someone very important, and they said it is actually going to happen this week. They are not going to mention a date, but it is that close now.
The Pentecostal Group sent a confirmed announcement saying that all platforms will be closed – they will not be selling anymore of the Yellow Dragons. They will close up operations and they are getting ready now.

But we have received notifications for private groups, and these people are more than likely customers of these banks. There was a lot of Intel coming through for notifications.
I heard some people got paid. I cannot confirm that. I received an audio from Brazil that one contact got paid, got it in Spanish.  I would need someone to translate it other than me.  For if I translate it, people would say I was inventing stuff, so it is better than someone from the audience that speaks Spanish translates it. It is about a minute audio saying that they got paid 1% and they expect the rest during this month to get paid.

Jon Dowling & Eli Weber Discuss When Will Gold Silver & Currencies Revalue

"FABULOUS FIBER" BY FRANK26, 12 JUNE

FRANK26:"FABULOUS FIBER".............F26

The Minister of Communications announces a campaign to turn off towers in preparation for switching to fiber optics

6/11/2024

 

 Baghdad
 

On Tuesday, Minister of Communications Hiyam Al-Yasiri announced the imminent launch of a campaign to extinguish towers in residential areas in preparation for the transition to the fiber optic system.

Al-Yasiri said in a statement, reported by the official news agency, and seen by Al-Iqtisad News, that “the Ministry intends to implement a campaign to extinguish the towers in coordination with the relevant security authorities, and according to the schedules set for them, after which it will switch to the fiber-optic system.”

She added, "There will be no losses to tower owners or unplanned extinguishing, as the companies operating on FTTH lines have completed their work in dozens of Iraqi regions in preparation for extinguishing those towers, and there is a detailed scheduled plan that will be announced in advance to extinguish the Wi-Fi towers." Fi) and converting it to FTTH service, which will be with the consent of the citizen and not compulsory.”

Al-Yasiri continued, “The prices that FTTH will offer will be lower or equal to the prices of Wi-Fi, despite its high cost, but we bear these costs with the companies in order to provide good service to citizens.”

LINK

"RV UPDATE" BY MNT GOAT, 12 JUNE

 Mnt Goat 

 ...the IMF is not going “lop” theIraqi dinar.  A “lop” is a tool the IMF uses to restart a currency from massive inflation. ...We also have articles for Iraq telling us they WILL NOT lop the dinar. They do not have massive inflation and so this tool of a lop is not necessary. That is why they call it the “project to delete the zeros” and not a ”lop”.

Iraq...when ready, they will drop the three zeros and give the citizens so many days to turn them in the old three zero notes for exchange of the new lower currency denominations. This exchange will most likely be electronic. It will be a 1:1 exchange but not like many think...

I DO NOT mean one dollar for one dinar. I mean, for instance, a 25k note for a new 25 note. This is the 1:1 the CBI has talked about many times. Yes, the dinar may revalue first in-country to just over a dollar, but this is still not what the CBI meant by 1:1 in the past...the VALUE of the dinar has always been there...only when they drop the three zeros it becomes more manageable and nominal. The VALUE is still the same.

The electronic systems are taking hold...This will allow the shrinkage/withdrawal of the tangible currency notes from the market that is needed in the process to Delete the Zeros...a critical part of it...

I can remember hearing as far back as 2010 from Dr Shabibi the importance of the electronic banking effort and its advantages to the process. Yes, they MUST shrink down the currency mass...if you shrink down the monetary mass than what is left will be worth more.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-mnt-goat-11-june.html

Jon Dowling & Andy Schectman Gold, Precious Metals & The Collapse Of The...

"CBI... LET'S ROLL!!!" BY FRANK26, 12 JUNE

 FRANK26: "CBI... LET'S ROLL!!!".......F26

The Ministerial Council for the Economy decides to support the independence of the Central Bank in formulating monetary policy

6/10/2024

 

Today, Monday, Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, chaired the seventeenth session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Industry, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, and advisors. Prime Minister for Economic and Legal Affairs, and Chairman of the Securities Commission.

 

A statement by the Council, a copy of which {Al-Furat News} received, stated that it: “discussed the items on its agenda and took the necessary decisions regarding them. It also hosted the head of the Financial Supervision Bureau and his deputy, and the Director General of the Legal Department in the Bureau, to study and evaluate partnership contracts between the public and private sectors.” And a statement of the economic feasibility of its continuation or termination.”

He added, "Where the head of the Bureau reviewed those contracts that were divided between important contracts that benefit the state budget, and others that lacked economic feasibility, the Council decided to complete the discussions in the presence of representatives of the relevant ministries in order to resolve this important file."

The Council continued, "It also decided to approve the recommendations of the committee formed to study the adoption of Iraqi, Gulf, or higher specifications when importing vehicles, in order to preserve the lives and safety of citizens and users of vehicles and roads, while determining the contribution of foreign capital to Iraqi banks was discussed."

He added, "In line with the state's general policy of supporting the Iraqi and foreign banking sector and foreign investments in Iraq, the Council decided to support the independence of the Central Bank of Iraq in formulating monetary policy in accordance with its applicable laws and instructions."

The Council hosted the Technical Undersecretary of the Ministry of Environment; To discuss support for the Ministry’s projects related to implementing the government program and removing obstacles hindering its implementation.

LINK