DINAR REVALUATION

Wednesday, July 10, 2024

Iraqi Dinar News Today | PM Al-Sudani's Bold Prediction: Iraqi Dinar Str...

What Is The Relationship Between Customs And The Rise In Exchange Rates In Iraq?

Local Economy News – Baghdad Today, Wednesday, economic expert Ahmed Al-Hedhal identified the relationship between the rise in the dollar exchange rate and the customs file, while stressing the importance of controlling the northern and southern borders.

Al-Hathal said, in an interview followed by "Al-Eqtisad News", that "the problem of the high exchange rate of the dollar in Iraq is customs," stressing the importance of "controlling the northern and southern borders."

He pointed out the "necessity of controlling fictitious invoices and facilitating the task of small traders, and involving the Central Bank in auditing invoices from the borders," adding: "Electronic payment and forcing people to use it and to deal in the dinar has nothing to do with the rise of the dollar."

The economic expert said, "Electronic payment has become a tool that facilitates the process of reverse transfers and black transfers," indicating that "the hasty decisions that are taking place are due to escaping from reality."

Al-Hathal confirmed that "the domestic dollar is being smuggled out in 'trucks'."

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Tuesday Evening News with MarkZ

Tuesday Evening News with MarkZ

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions

Member: Hello MarkZ and everyone! Let’s go!!!

Member: I feel different today, like something good is about to happen

Member: MarkZ Tell me something good . Tell me ,Tell me, Tell me.

MZ: I had 2 bond folks check in. One said they do not have money yet….but they will be paid this week. The second bond holder said “I cannot comment-PERIOD” to me that tells us something pretty positive happened on the bond side. If they are under an NDA I wouldn’t want them to violate it.

Member: Really sounds like an NDA to me!!.

Member: I am now under an NDA- No Darn Assets!!

MZ: “US Military delegation continues meetings with Iraqi officials in Baghdad” All about working together in the region and the withdrawal of US troops from iraq. But no set timeline yet.

MZ: There was a very encouraging Nader video today about Iraq’s progress…. You all should look for it under just “Nader” and watch it.

Member: Nadar vid was great

Member: (From Dinar Guru) Frank26 The international community already has seen the new exchange rate. IMO the international community is satisfied and happy and anticipating for what is about to happen. It is not a secret.

MZ: I would agree with that.

Member: Mark, have you heard anything about BRICS payment system being launched?

MZ: “Russia and Iran agree on all stages of integration of National Payment systems” This one is important. Many believe this will be the backbone for the payment system for BRICS global blockchain MBridge based currency.

Member: Wolverine posted yesterday a Chinese elder signing to release the gold in Thailand

MZ: There is a video out that had many of you losing your minds …but I can’t vet it….Do I think there is a great chance it is real…..I do….because of the news I received overnight on documentation being signed in Indonesia and the Phillipines.on the Gold Treaty. So it is highly possible….but not absolutely verified. .

Member: Large accounting firm in Tulsa area announced today they are shifting their main focus to wealth management…. Hmmmm

Member: My prediction is that this will all be over soon so I am just chilling out and waiting!

Member: Have a great rest MarkZ thank you for all you do. Great evening to all

“THE CONTENT IN THIS PODCAST IS FOR GENERAL& EDUCATIONAL PURPOSES & NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY.

'Deadline' To Cut Rates Is September; Businesses Won't Survive Much Long...

Parliamentary effort to question the Central Bank: Costs Iraq trillions and threatens the economy

Parliamentary effort to question the Central Bank: Costs Iraq trillions and threatens the economy

Member of the Legal Committee, Raed Al-Maliki, announced on Tuesday that he is seeking to hold the relevant authorities accountable, especially the Central Bank administration and the government, due to the failure of their procedures to address the crisis of the decline in the value of the Iraqi currency and the large gap between the official dollar exchange rate and the parallel rate.

Al-Maliki said, in a press statement received by Shafaq News Agency, that the continued failure of the Central Bank and the government to achieve stability of the dinar and reduce the gap between the two prices led to the waste of huge sums of money and exacerbated the suffering of citizens.

He pointed out that these conditions resulted in the state incurring trillions of dinars and enriching the corrupt at the expense of the people, as the prices of most goods depend on the parallel price, which is much higher than the official price.

Al-Maliki also pointed out that the failure of the government and the Central Bank to deal with the exchange rate crisis was embodied in several main aspects, the first of which is the government’s inability to determine Iraq’s position on countries banned from using the dollar, as it failed to reach an agreement with the United States on how to deal with Iran and Syria, while other countries were able to find formulas of understanding in this regard.

The "second failure," according to Al-Maliki, is embodied in the government's inability to control the ports and informal trade. It has failed to unify customs policy and prevent informal ports in the Kurdistan Region, which includes more than 32 informal ports.

The third failure, MP Al-Maliki says, is the failure to address the issue of small traders, whose number exceeds 400,000 traders in Iraq, who rely on the parallel dollar to avoid official procedures and taxes.

Regarding the fourth failure, the government and the Central Bank, according to Maliki’s statement, failed to address the problem of speculation and commissions in banks, as banks buy the dollar at the official price and sell it at higher prices without any legal accountability.

Finally, the fifth failure, according to the statement, is embodied in turning the file of providing travelers with dollars into a corruption case that cost 600 billion dinars, as dollars are collected for fictitious travel purposes without verifying the actual need for travel.

Al-Maliki added that these points represent the most prominent reasons for the continuation of the exchange rate crisis and the waste of money, pointing out that Arab and foreign banks have entered the currency auction and increased their profits at the expense of Iraq.

The MP stressed that he will use all constitutional, legal and popular means to confront this failure and mismanagement, calling on MPs from other blocs to support these efforts in order to protect the interests of the Iraqi people.

For his part, MP Majid Shankali called on the Council of Ministers to take decisive and bold decisions related to the financial reality in Iraq.

In a statement received by Shafaq News Agency, Shankali stressed the necessity that these decisions be preceded by the process of building trust between the citizen and the banking system, which is currently suffering from a significant lack of this trust.

In this context, Shankali called for banning dealing and trading in dollars in buying and selling operations, in a step aimed at enhancing the use of the Iraqi dinar and reducing dependence on foreign currency. He also called for not allowing citizens to hoard amounts exceeding ten thousand dollars or its equivalent outside banks, in order to limit financial evasion and enhance official banking practices.

Shankali also stressed the need to encourage and stimulate electronic dealing in financial transactions, pointing out the need to start implementing these decisions gradually to avoid creating new crises, stressing that these procedures must be well thought out and based on gradual steps to ensure achieving the desired financial goals without causing additional problems for citizens. link

LATEST FROM BIRDIEORBUST FROM GINGER TELEGRAM ROOM, 10 JULY

BIRDIEORBUST

The Chinese elders did sign some papers this week, that has been given to us by several sources...

but not sure how that affects our timeline, what we are waiting for is them along with interpol and the military to go visit Mr. C

Mr. C just answered the question about whether Nesara can happen without him entering the codes to release the gold and he just said NO it cannot happen without him.

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Birdieorbust, Liberty Lounger Extraordinaire 💥 has a valuable update regarding Iraq IQD NEWS. 6.28.24

💢 Birdieorbust: What I can say is this: There is a load of pressure on Iraqis to remain quiet on what they are being told and what they are able to do at present.

They have their rate - and all I can say is it is close to rumors you are hearing (the low ones however not the huge double digit ones) They have been using this rate for some time in contracts (IN country) since the first of the year basically.

Iraq is waiting on the Treasury to give the go sign...and the Gazette issue is also being kept quiet - but remember it is not necessary for it to be published - beforehand, in order for us to know before we go. Is it possible it will be before? Yes but not necessary. That is really all I can say without getting people in trouble and I refuse to do that.

💢 Ginger: All True - trustworthy info. Completely agree.