From the information herein it’s assumed that matters regarding the Global Currency Reset and changeover to Restored Republics of the World is imminent.
The Military was waiting on the World Court for legalities according to Common Law, to be finalized between nations.
Everything has been completed for NESARA/GESARA payouts including GESARA being announced through certain media, making it legal.
All debts of various nations including the US, have been settled using GESARA funds collected from the Cabal. GESARA has begun paying out in several countries, with the US payouts to citizens scheduled.
Payouts for the Global Currency Reset has been authorized, scheduled and reported.
Word was that right now some Tier 3 Zim Holders were in Reno meeting with their Wealth Managers and proceeding with the redemption process. The Pentecostal Group has already started to pay out their Group One.
On Thurs. 27 June the new Iraqi Dinar rate was available to citizens of Iraq through their debit cards and ATMs.
Iraq has scheduled an announcement of their new Dinar Rate by publication in their Gazette on Sat. 29 June, with the celebration scheduled for
Sun. 30 June.
Very soon Tier4b was expected to begin exchanges in China, the process going across Asia and into Europe and then to the US.
The Pentecostal group will begin to pay out their Group Two on Thurs. 4 July – the same day the US will be celebrating Independence Day with major announcements expected.
Dinar Explainer 2: Consequences of Iraq's Two Exchange Rates
28th June 2024
On a recent webinar organised by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University outlined the key changes in the dinar exchange rate over the years, as well as the consequences of having two exchange rates. (For more on the reasons why Iraq has two exchange rates, click here).
Current Exchange Rates
There are two exchange rates in Iraq: the official exchange rate and the market rate.
The official exchange rate is approximately 1,310 Iraqi dinars per US dollar.
The market rate is higher, at around 1,460 Iraqi dinars per US dollar, which represents a 12% gap between the two rates.
Impact of Dual Exchange Rates
The existence of dual exchange rates has several negative effects on Iraq's economy:
It slows economic growth by disrupting existing contracts and discouraging trade and investment both domestically and internationally.
It encourages corruption, as individuals and entities can profit from the difference between the official and market rates by being paid in dollars and making payments in dinars.
It complicates fiscal policy, making it harder for the government to manage the economy effectively.
Historical Changes in Exchange Rates
December 2020: The dinar was devalued by 23%, primarily due to the fiscal crisis of 2020 and the drop in oil prices. This devaluation was intended to allow the Ministry of Finance to obtain more dinars for each dollar of oil revenue.
February 2023: There was a revaluation, increasing the value of the dinar from 1,450 to 1,310 per dollar. This revaluation was beneficial for importers, as it made imports cheaper, but it negatively impacted exporters of non-oil goods, making their products more expensive abroad.
Effect of Dollar Appreciation
Since the revaluation in February 2023, the US dollar has appreciated by about 3.3%. This further makes imports cheaper in Iraq but makes exports more expensive, affecting the balance of trade.
Challenges of Dual Exchange Rates
The dual exchange rates have contributed to economic disruption by making it difficult to conduct business with predictable costs and revenues. The gap between the rates incentivizes corrupt practices and complicates governmental fiscal management, ultimately leading to slower economic growth.
In summary, the official and market exchange rates in Iraq have undergone significant changes in recent years, driven by economic crises and fiscal policy decisions. The dual rates present ongoing challenges for economic stability, growth, and governance.
The consequences of having two exchange rates in Iraq can be summarised as:
Slowing Economic Growth
The dual exchange rate system disrupts existing contracts and discourages both domestic and international trade and investment. This disruption hinders economic stability and growth.
Encouraging Corruption
The gap between the official and market exchange rates creates opportunities for corrupt practices. Individuals and entities can profit from the difference by being paid in dollars and making payments in dinars, exploiting the discrepancy for financial gain.
Complicating Fiscal Policy
Managing the economy becomes more challenging with dual exchange rates. The existence of two rates complicates fiscal policy, making it difficult for the government to implement effective economic measures and maintain financial stability.
All of my information tonight is coming from Iraq.
Today one of our sources was at the Iraqi Airport in Baghdad and was able to use his Iraqi debit card to access funds. For him to do that he had to have the new Iraqi Dinar Rate.
Today a source in Iraq said we would have the Iraqi Budget in the Gazette over this weekend.
My sources say Tier 4b notification could come the last three days of this month – Fri, Sat or Sun. 28, 29, 30 June.
Iraq was planning on celebrating their new Iraqi Dinar Rate on Sun. 30 June
The contract rate on the Dinar went up another dollar today. They will give that rate to you if you are a US citizen.
We don’t know when this is going to go. My Iraqi contact said our time was coming in a matter of days.
The three reasons why Iraq has two exchange rates are:
Excessive Demand for US Dollars Internationally
:
There is a high demand for US dollars in countries like Iran and Syria, where local currencies have significantly devalued. Entities in these countries are desperate to obtain dollars, which are accepted everywhere and difficult to trace.
The excessive demand for US dollars internationally is driven by several factors:
Currency Devaluation in Neighboring Countries:
The Iranian rial has lost 75% of its value due to sanctions from the US and other nations.
The Syrian pound has lost 99% of its value primarily due to the ongoing civil war.
These significant devaluations have led entities in Iran and Syria to seek more stable currencies like the US dollar.
Preference for Physical Dollars:
There is a particular demand for physical US dollars (paper currency) rather than electronic funds transfers (EFTs). Physical dollars are preferred because they are accepted everywhere and are impossible to trace, making them more desirable for transactions that may need to avoid scrutiny.
Cheaper Source of Dollars in Iraq:
Due to these devaluations and economic instability, Iran and Syria find it more feasible to obtain dollars from Iraq. The Iraqi market offers a cheaper source of dollars, requiring fewer real resources compared to other regions.
These factors collectively create a significant international demand for US dollars, which in turn impacts Iraq's exchange rate dynamics by increasing the pressure on its currency system and contributing to the existence of dual exchange rates.
Internal Demand for Dollars:
Within Iraq, the dollar has dominated the dinar both as a medium of exchange and as a store of value. Although recent regulatory changes have reduced this dominance, the demand for dollars remains strong.
The internal demand for dollars in Iraq is driven by several key factors highlighted in the text:
Dominance of the Dollar:
Historically, the US dollar has dominated the Iraqi dinar both as a medium of exchange and as a store of value. This dominance means that people prefer to use and hold dollars over the local currency, contributing to the internal demand for dollars.
Regulatory Changes:
Although there have been recent regulatory changes aimed at reducing the dominance of the dollar, the demand remains strong. These changes have not been sufficient to shift the preference from dollars to dinars significantly.
Economic Practices:
Iraq's economy is still very much a cash economy. The Central Bank of Iraq estimated that there were 90 trillion dinars outside financial intermediaries, highlighting the extensive use of cash. This reliance on cash further underscores the preference for a stable currency like the dollar.
Banking System Challenges:
The banking system in Iraq is underdeveloped. The state-owned banks are not private sector-oriented, with major banks like Rafidain and Rasheed facing difficulties. Additionally, Iraq is severely under-banked, with only four bank branches and five ATMs per 100,000 Iraqis, compared to the Middle East and Northern Africa average of 14 branches and 37 ATMs.
The lack of a universal core banking system, which makes it difficult to withdraw funds from a different branch than where the deposit was made, contributes to the preference for holding dollars.
Insecurity of Deposits:
The perception that deposits have become more insecure has increased the demand for dollars. For instance, the suspension of dollar withdrawals starting January 1, 2024, has likely exacerbated concerns about the security and accessibility of funds, driving people to prefer holding dollars.
These factors collectively create a strong internal demand for dollars in Iraq, complicating efforts to manage the exchange rate and stabilize the economy.
De-Dollarization Efforts by the New York Fed:
The New York Federal Reserve has restricted dollar transfers to reduce dollar flows to Iran and Syria. They have also excluded over two dozen Iraqi banks from transactions, which has increased the complexity and demand for dollars in Iraq.
The de-dollarization efforts by the New York Federal Reserve (New York Fed) are part of a broader strategy to control the flow of US dollars, particularly to countries under sanctions such as Iran and Syria. Here are the key points from the text:
Restriction on Dollar Transfers:
The New York Fed has restricted the transfer of physical dollars to Iraq. Previously, both electronic dollars (via electronic funds transfer, or EFT) and paper dollars could be sent to Iraq. Now, the New York Fed primarily allows only electronic transfers while restricting the shipment of actual paper dollars.
Exclusion of Iraqi Banks:
Over two dozen Iraqi banks have been excluded from doing transactions with the New York Fed. The New York Fed will not transfer funds to these banks or respect their transactions. This exclusion is part of the effort to control the flow of dollars and reduce the likelihood that they will end up in countries like Iran and Syria.
Objective of De-Dollarization:
The primary goal of these restrictions is to reduce dollar flows to Iran and Syria. By limiting access to physical dollars and restricting certain banks, the New York Fed aims to make it more difficult for these countries to obtain US dollars, which are in high demand due to the devaluation of their own currencies and economic sanctions.
Impact on Iraq:
The de-dollarization efforts have significant implications for Iraq. The restriction on physical dollar transfers and the exclusion of certain banks have added to the complexity and demand for dollars within Iraq. These measures are part of the broader challenge facing the Iraqi government as it tries to manage its dual exchange rates and stabilize its economy.
These efforts by the New York Fed are part of a strategic initiative to use financial controls as a means of exerting economic pressure on countries like Iran and Syria, while also attempting to mitigate the impact on the Iraqi economy.
You can read more on the history and consequences of the dinar exchange rate here.
"Cancellation of Paragraph ( 5 / d ) of the instructions and standards for circulation and replacement of banknotes, and the counting and sorting mechanisms."
A banknote counter is a device designed to accurately count and check on the quantity of banknotes. A counter has several sensors on it to accurately analyze the banknote.
A banknote counter also has the ability to sort banknotes into batches, check for damaged, and counterfeit notes.
Iraq is beginning to utilize more strict methods of counting and securing their money. It will give their community and broader community more confidence in the Dinar.
This will give Iraq more accurate measurements of the money supply, and it will give them the opportunity to enforce laws surrounding the punishment of illegal production of the Iraqi Dinar.
As Iraq approaches a new exchange rate for the Iraqi dinar, these new banking mechanisms will give them the opportunity to reset the direction of how their money is being used locally and abroad.
Don't be surprised if other currencies are done the same way when we go to exchange them. Part of a reset on currency valuations is dependent on accurate information to do so.
