A leader in the framework: America blackmailed Iraq with dollars within 3 years
Uday Ibrahim, the framework’s leader, confirmed on Tuesday that the United States had used the dollar to extort money from Iraq five times in three years.
In an interview, Ibrahim stated: Reality that all nations of the world, no matter what, acknowledge is that the dollar has turned into a method for shakedown by the White House, and Iraq is one of the nations that has been exposed to this way multiple times in 3 years.”
That’s what he added “selling the public economy and making it connected to the dollar conveys with it gambles with that undermine the country’s public safety notwithstanding its monetary repercussions,” calling attention to that “the public authority has really started to broaden the container of monetary standards and try to diminish dollarization in the business sectors as far as possible the job of the dollar.”
He said, “After being used as a means of pressure and inciting crises in various forms,” the dollar currency “is no longer reliable.”
He brought up that “America gave nothing to the public economy. Running against the norm, it contributed, by coming down on the banks under bogus guises, to make the equal market.”
It is noteworthy that the United States has purposefully reduced the dollar’s access to Iraqi markets in a variety of ways over the past few months, resulting in high exchange rates in parallel markets.
Concerning OFAC sanctions are still on the currency and have not yet been lifted, why is Citibank allowed currently to buy and sell IQD? Fair question.
Answer from Mnt Goat:
Guten Tag wciappetta. Yes, your question is a fair question but only if you are a newbie to my blog. I have covered this question many times already. But to help you understand let me say why can’t the banks sell dinar if the internet licensed brokers are selling it? What makes the internet dealers any more special than the banks? In this regard they are not.
The banks are special when they sell the dinar or other currencies in trading such as buying and selling. But this is in dealings with the US Treasury that these internet dealers do not have this kind of relationship since the do not have a “banking” license.
The banks do take a higher risk from the US Treasury if they do so in selling the dinar now. Remember that when ISIS invaded Iraq most banks simply refused to sell the dinar at risk of funding ISIS. Then in 2017 when the war with ISIS in Iraq was over, they once again sold it.
If they are selling the dinar now, they are doing it under a US Treasury license just like the internet brokers. No difference. The relationship with the US Treasury with the IQD is suspended until the OFAC sanctions are lifted. Get it? This is the key point.
Why not sell the dinar if there is money to be made on the spread. But this selling it today is much different than bypassing sanctions on a currency. Try to sell back your dinar to the banks and you will see a much difference picture. OFAC sanctions do not allow the banks to then take the dinar currency they bought from you (if they did buy it) and then sell it back to the US Treasury under normal banking relationships with the US Treasury.
So, under these OFAC sanctions why would a bank want to buy back any dinar since if they did, it would be only be to sell it right back to more customers like you so it is risky and they would limit their quantities. There is nothing else they could do with it due to the OFAC sanctions are in place.
So , you see the OFAC sanctions are more for in dealings with foreign countries vs a US bank. But to deal with a foreign entity the bank, the US bank would then be laundering money. Get it? To sell to you they know you in their banking relationship and can identify you.
From a civilian standpoint you don’t know or see how the entire banking system works. Banks transfer foreign currencies all the time to the US Treasury and can transfer to foreign countries too under the SWIFT system and the Central Banking system, Right now, until OFAC is lifted, the US Treasury will not deal in the dinars the SWIFT system also from the US banks will not deal in dinars. Is this why, under the currency auctions in Iraq they were forced to deal in US dollars only? Two reasons:
1.no large investment firms want to purchases large quantities of a sanctioned currency. Not only is it illegal it also goes against their financial managers professional license.
2.Since #1 is true who the hell wants the dinar outside of Iraq under these circumstances so for the country of Iraq to buy outside imports how would they pay for them? This is why they must still use the dollar.
So how do the banks get their dinar?
They purchase it just like the internet dealers purchase and they do not go through their normal channels such as they do with normal foreign currency and the US Treasury channels.
Right now having large quantities of any foreign currency is risky business for any bank since any foreign currency is volatile to global changes. So, the banks order it for you from the US Treasury Central Banking system on demand. They can not do this today.
You have to also understand that much of the OFAC sanctions are more logistical than anything else as I just described. Most of the time if you abuse it is giving a slap on the hand and fines if you don’t adhere to them unless you are dealing in large quantities with foreign entities and this is called then money laundering since sanctions are in place.
Laundering Corruption Money Raises Baghdad Real Estate... Questions About The Source Of Purchasing Power
Baghdad today – Baghdad Economic affairs researcher Mustafa Akram Hantoush confirmed today, Sunday (June 23, 2024), that
the rise in real estate prices in some areas of the capital, Baghdad, is due to money laundering, considering that the Baghdad Municipality’s approval of the area to be 200 meters or less is considered a violation, and also caused an increase in prices. Real estate. Hantoush told “Baghdad Today” that
“the real estate file in Iraq has become a very complex file and contains clear errors, and
there are also government decisions that have contributed to the rise in real estate prices, including the Baghdad Municipality approving an area of 200 square meters for the house as a basic design and there is a separate bond, especially
This square has become unavailable in most areas of Baghdad, except in some upscale areas.” He stated,
"The Central Bank of Iraq recently took a correct decision, that any house valued at more than 250 million before the tax must deposit the amounts in a bank until it is known where the source of that money comes from.
This is one of the ways to combat and limit money laundering through purchasing real estate.". He added,
"In areas that are witnessing a crazy rise in real estate prices, with the square meter reaching approximately 12 million or more, real estate there must be monitored, as
this rise may be caused by money laundering, especially since there is no such purchasing power in areas that are originally residential and not commercial." The researcher in the economic affairs continued,
“Working to register one or two houses in the name of one person is considered a reactionary law.
There is no harm in anyone owning dozens of houses if the source of his money is known.
We do not expect that such decisions, if there is a trend towards them, will not limit the rise in Prices at all, but may even have negative consequences.”
Article: "Expert likely to keep exchange rates within their current rates" It's not going to happen that quickly. There's so many more hurdles for Iraq to jump through.
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I challenge any content creators out that's making videos about the dinar...to...a debate...Bring your receipts. Bring your proof that I'm wrong and I'll bring my proof why I say I'm right. That's all you have to do. It's not that hard...
Remember that I challenged people out there...I would give them $5,000 if they could...have a debate with me and prove me wrong about anything that I'm saying...How many people showed up?
Zero.
When you hear somebody tell you that, 'Hey in one country you cannot move forward and rebuild with huge projects with an exchange rate of 1,320 of your currencies for $1' just say, 'Oh yeah?
Look at Vietnam who has 26,000 of their currencies for every $1 and they continue to move forward.'
What Do Investments In Iraq Mean Politically And Economically?
June 24, 2024 Baghdad/Iraq Observer The high level of Arab and international investment optimism constitutes a new support factor for the economic renaissance in Iraq, while observers praised the government measures taken to support investment and economic reform together, which is witnessing significant growth after overcoming many obstacles. Arab and foreign demand for investment in Iraq has shown an acceleration in growth since 2024, with significant Iraqi support being provided in light of political stability in the country.
Economic expert Zaid Al-Naimi said that the mechanism followed by the government to limit currency smuggling, stabilize the market, and provide support to various sectors contributed significantly to restoring Arab and international confidence in various sectors and their investments, with large amounts of money inside Iraq. While confirming the correct approach followed by the government of Prime Minister Muhammad Shiaa Al-Sudani, he pointed to the acceleration of economic reform, which reflected positively on other sectors, whether industrial, infrastructure, or in the financial and
banking sector, and that investments mean a lot politically and economically and are an important tributary for Iraqis to keep pace with modernity.” Al-Naimi stated to the Iraq Observer Agency that investment in the economic sector, which is considered the important hand of the Central Bank, has also contributed to developing the private sector and providing advisory services, and that the
near future will witness the expansion of investments throughout Iraq to include a wide range of financial services, as well as the provision of advisory services. “It restores Iraq to Arab and global leadership.” He attributed the investments to a group of sectors due to their importance, which the Iraqi government participates in, whether in investment in the industrial sectors, or in what is related to the financial sector, both the banking and non-banking sectors, as well as the importance of investing in infrastructure and improving the services provided to the Iraqis. He pointed out that what is most important at this stage is Encouraging the private sector and working with it.” Promote Growth In turn, the World Bank expected that Iraq would achieve economic growth of more than 5% in 2026, indicating that the recovery in the oil sector in 2025 would contribute significantly to enhancing this growth. The bank stated, according to a statement, that “Iraq’s economic growth for the year 2022 reached 7.6%, and in 2023 it decreased to -2.9%.”
He also expected that Iraq's economic growth would decline in 2024 to reach -0.3%, and that it would achieve growth in 2025 of up to 3.8%, and in 2026 to reach 5.3%. He pointed out that oil-exporting countries outside the Gulf Cooperation Council, such as Iraq and Algeria, will benefit from the expected recovery in the oil sector in 2025, which will help boost economic growth in these two countries. Million Auction In this context, the bank sold, in its auction today, 273 million, 244 thousand and 330 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,305 dinars per dollar in cash. Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 250 million 274 thousand and 330 dollars, an increase of 91% over cash sales amounting to 22 million and 970 thousand dollars. The number of banks that purchased cash dollars reached three banks, while the number of banks that responded to requests to enhance balances abroad reached 15 banks, and the total number of exchange and brokerage companies participating in the auction was 40 companies. The Central Bank of Iraq's dollar sales amounted to more than 273 million dollars at the currency auction on Sunday. Experts suggested keeping the dollar exchange rates within their current rates. Spending Demand According to observers, the release of financial amounts for the 2024 budget will increase spending demand in the market, and that operational expenditures in terms of wages and salaries will be fixed and their impact will be constant, while they added, “The investment budget is important because projects require locally manufactured and imported materials.”
They stated: “Any trend towards locally made materials, such as construction industries such as rebar, cement, sand, wood, etc., which led to their local rise, and so on, are requirements that go towards keeping exchange rates within their rates and not decreasing them.” Today, selling prices in money exchange shops in local markets in Baghdad were 148,000 dinars for 100 dollars, while purchasing prices reached 146,000 dinars for 100 dollars. https://observeriraq.net/ماذا-تعني-الاستثمارات-في-العراق-سياسي/