The Parliamentary Finance Committee revealed that Iraq has decided to stop dealing with the Chinese yuan in financial transfer
Committee member Moeen Al-Kazemi said in a press statement that "the US Federal Bank imposed on Iraq to stop dealing in the Chinese yuan, under the pretext that there was manipulation in some transfers or certain problems occurred."
He believed that "many decisions by the Central Bank are imposed by the US Federal Bank," according to him.
Al-Kazemi pointed out that "Iraq's money, as we know, is placed in the US Federal Bank as a result of the sale of oil at a rate of 3.5 million barrels per day, and this money enters the US Federal Bank and is not transferred to Iraq in cash, but is transferred to Iraq through transfers issued by the Central Bank and the Federal Bank is notified and then the Federal Bank is convinced of this transfer and commercial transaction and on the basis of it releases amounts to the relevant parties exporting to Iraq."
He noted that "many of the Central Bank's procedures are governed by the American will, and this will may be explained for administrative and financial reasons, non-financing of terrorism, and others," believing that "the reasons are political with the aim of pressuring the Iraqi government," according to his expression.
Regarding the impact of canceling dealing in the Chinese currency, Al-Kadhimi pointed out that "the merchant and the Central Bank have multiple options and not to deal only with the dollar, so this suspension is temporary and not permanent."
As for what the Parliamentary Finance Committee will do in this regard, a member of the committee explained, "We will ask the Central Bank to address the issue and for the currency basket to be diverse, so that the options are more for the Central Bank and Iraqi merchants."
It is noteworthy that Iraq has strengthened its assets denominated in yuan through the Singapore Development Bank to finance Iraqi trade and imports with China by about $ 12 billion annually.
Iraq has also moved to strengthen its assets in the Emirati dirham and negotiated an increase in its assets denominated in euros to finance trade with the European Union, and Iraq has also begun opening bank accounts in the Indian rupee for a number of Iraqi banks
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Since the beginning of 2023, the Central Bank of Iraq has issued several decisions aimed at maintaining the stability of the general monetary and economic situation and confronting the risks of fluctuations in the exchange rate of the Iraqi dinar against the US dollar, in addition to facilitating import and export operations by opening new horizons with international banks, including Chinese banks.
Among the decisions of the Central Bank of Iraq is to enhance the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan, as dealing in yuan directly without the mediation of the US dollar contributes to facilitating and accelerating financial transactions, and will reduce import costs and protect against the risks of fluctuating exchange rates within Iraq. LINK
If you read the article titled “FOR THE FIRST TIME, THE IRAQI STATE’S NON-OIL REVENUES RECORD AN INCREASE OF 11%”in todays news, you can clearly see that in another article and others but especially in the one titled “PARLIAMENTARY EFFORT TO QUESTION THE CENTRAL BANK: COSTS IRAQ TRILLIONS AND THREATENS THE ECONOMY”that the member of the Legal Committee, Raed Al-Maliki in his 5 points of accusations about the performance of the CBI are not correct.
Go read his 5 points in the article. We can all clearly see the progress that has been made in each of these areas. We read the news on these and great strides have been made on each. We know better than to talk like this. Articles like this one are not fare and obstruct all the progress made by the Al-Sudani government. Oh…could these be Iranian supporters and want things to stay status quo?
Raed Al-Maliki also does not understand is that the GOI must work hand-in-hand with the CBI. So, if progress is slow, it is the fault of both entities. Instead, he should go do his homework and talk about the successes for a change instead all the negativity and false claims. Maybe he also could come up with viable solutions instead of just negativity. He could have written this article a couple years ago and it would be true but not now.
I want to bring one more short article to you today and explain it in more detail. It is titled “A REPRESENTATIVE ACCUSES AMERICA OF OBSTRUCTING IRAQ’S ECONOMIC OPENNESS TO THE COUNTRIES OF THE WORLD”.
Yesterday, Wednesday, Deputy Chairman of the Parliamentary Economics Committee, Yasser Al-Husseini, accused the United States of America of obstructing Iraq’s economic openness to the countries of the world.
What does he mean? Is he talking about the reinstatement? Yes, he is but that’s not the entire story.
How can the United States expect Iraq to grow and get out of the “rentier” economy if it stands against Iraq’s economic openness to the countries of the world.
I quote – “indicating that America has contributed greatly to preventing international companies from coming to Iraq.” I believe this means the lack of investment money that could flow with the reinstatement of the dinar.
Also, why would any company want to come to Iraq and set up shop if they have to take a higher risk with their capital not knowing if the economy could crash any day due to a terrorist attack? I don’t believe that an attack could cause a crash but it is the “perception”. Get it? Speculation is based on perception.
As we read in my Newsletters many weeks ago, we read that the “spigot” had been opened by many of the international organizations now in favor of Iraq and told us it was nowSECURE and STABLE.
Two key concepts. Folks, this was a signal for foreign investors to come pouring in. Remember this newsletter? Go back and read it.
This pre-dated mid-June. And so what was supposed to happen in mid-June?
So, you see we have a situation in that the international community is supporting Iraq and the CBI in its monetary and economic reforms to rebuild Iraq and turn it into the economic giant that is its ultimate destiny, but the powers in the US government does want it to happen unless they can get a huge slice of the pie.
Call it Blackmail if you want. But this pie can’t be even be baked unless the US cooperates in the overall plan to rebuild with Iraq. Get it? A plan that they agreed to. Again what comes first the Chicken or the Egg?
So, we can all now see the blatant disorganization and mess of the Biden administration as it deals with the world and now, we see it in Iraq. Now we have a clearer understanding as to why the dinar has not yet been reinstated preceded by the Project to Delete the Zeros.
After watching the 6/27 debate on live TV, we can clearly see the lack of mental ability to lead and make sound foreign policy. Who is setting policy then? Oh… could it be Obama with the microphone in his ear. Oh… isn’t its Obama’s plan they are now following for Iraq? This is why Iraq cannot move ahead at the pace it needs to move, at this point in time.
He added and I quote – “America stands as a stumbling block in the way of the growth of the Iraqi economy,” noting that “what Iraq has reached is due to American interference in internal affairs.”
Yasser Al-Husseini continued and I quote from the article to prove my point even more, “America does not want Iraq to be at the forefront of economically developed countries.” We read a similar report from the CIA years ago on Iraq and it too said Iraq would be a detriment to peace in the region if it were allowed to progress. So go figure?
In reading what I just old you from my CBI contact and also what is backed up by the articles, there is no rumors or bullshit in what I am telling you today. I have been telling you this for years now that it was the Obama as they sabotaged the Dr Shabibi plan to reinstate and now it is the Biden administration, through Obama that is holding back the next step in the currency reform as part of the overall strategy in “Pillars of Financial Reform”.
It should be crystal clear to everyone now why I have been saying this all along. Unless the Biden and the warped Obama careless policies towards Iraq are dealt with and overturned, or he is gone, or their influence is gone, we are most likely not going to see the reinstatement.
Don’t go off sad yet! 😊 But be careful as things could change on a dime and probably will change very soon. Those audio tapes requested by the house majority investigating the carelessness of the secured documents by Joe Biden will be turned over. We will all see what the democrats are hiding and it won’t be pretty. This will cause yet another avalanche towards the efforts to eliminate the Biden. Then as we roll into the few months ahead of the election, we may very well see the prophecy by Timothy Dixon play out to some extent. Watch video of the prophecy below. Folks, if it is true that all the good this transfer of wealth can accomplish, don’t you think the dark elements running wild in our society today could be influencing the minds of many of these dark, demonic politicians. It can hold back this blessing. Of course, and they don’t want it to happen for these reasons of bringing this coming period of prosperity and abundance.
In summary of the news today, I want to say that I hope all my readers can now understand why we can’t separate politics from the RV. Why I keep combining politics in my Newsletters and decided at a point to break it out and include an entire section on it. No, not just Iraqi politics but especially the US politics and the globalists and how they are influencing the forward progress of Iraq. Folks there are no secret plans to RV. Unless you can back up news from Iraq with FACTS writing down in articles or new media announcements it is only just rumors and did not occur as far as I am concerned. I have used this approach and it is sound approach to getting down to the TRUTH about this RV. Like it or not, it is the TRUTH! 😊
I appreciated the thought from the UB2B of who now controls the oil, and it is not Iran any longer!! That was a great UB2B.
The report that the IQD shows up on some of the major hotels as currency to use to purchase hotel stays as one guest shared in interview on UB2B was great news.
That could be a sign of international recognition. (I am hoping that the Private Bankers in the USA are on the same page in great expectation if the world now knows. No more "it's a scam.")
Also, if I remember correctly, Eddie shared in a recent report that he and other Iraqis felt like they had a fancy car in Iraq, but it had no engine. I might use that metaphor in another similar application. Those new high tech ATM machines are like that fancy car in Iraq, but they do not have the engine to run them yet. Those ATMs are waiting for the new rate and lower notes! The Iraqis and ATMs may not have to wait much longer. IMO!! We hope and pray.
Finally, if I understood correctly from recent articles and reports that the dinar will only be sold at the airport starting on the 14th. Also, that Sudani recently had a meeting with the Exchangers who were about to go on strike, and they suddenly changed their tune and reversed their plans, hopefully happily. Sudani is a mover and shaker in a good way. There could be something maybe significant about the 14th just before WTO on the 18th. IMO!!
IMO, not just soccer, those big screens around the country in Iraq may soon serve a dual purpose. For us, it seems past time.
Many banks here and abroad seem to be on the brink of collapse due to large debt.
IMO, the reinstatement of the IQD may bring liquidity and less debt to some of the banks, a banking stimulus. Good leadership and good reforms in Iraq will bring blessings from a once war torn country. Industrial cities, hospitals, railroad, ATMs, vast resources, miracles. Thanks to Dr. Shabibi, Sudani, and Alak. Most of all, Praise God.
I need to begin today’s news with a comment to some of my readers to stop bringing this bullshit of “White Hats”, NESARA or GESARA to my blog. I already covered how I feel about these issues. If you want to vent, please go back to the idiots who told you about this crap and challenge them.
I also want to clarify yet more bogus information being passed out by many of these intel gurus mainly this idiot from TNT, yet its TNT Tony striking the iron with his stupid three letter agency and bank garbage once again. I already talked about this garbage intel in a past newsletter but I will address it briefly again.
Yes, it’s for all you idiot TNT fans that come to my blog hoping to get the TRUTH. But Tony says and I quote “its better to be wrong everyday than to be right only once”. This to me does not make any sense and he misses the entire point of collecting and sharing information about this investment in the dinar. It is not a guessing game. It does not have to be highly speculative. Really, there is so much information about the monetary reforms Iraq is now going through. There is “their words” not mine and we don’t have to make up banks stories, three letter contacts or these other ridiculous stories. The news can be factual but only if you dare to tell the TRUTH and not play head games with your listeners.
So, once again this week the TNT idiot told his listeners that there are back screens for trading the dinar and it went up to a rate of $6 this past weekend. Really? He said it was supposed to RV on Friday then it was Monday and still here we sit with no RV and its Thursday already again. But this idiot has been saying this for over 10 years now. You would think his listeners would question his sanity?
Sounds like his is another Joe Biden to me… lol.. lol…. lol…. 😊
All you have to do is get your nose into my Articles Section of the Newsletter today to see that this guy Tony is lying about what was supposed to have taken place over the weekend. Listen to me! Read my lips all you TNT puppets. If any investor wanted to invest in the IQD, they can easily buy it off the internet which buys it from the Central Bank of Iraq for 1/6 of a penny at 1320 dinar per dollar. Why in hell would anyone go and pay anymore than the official rate? It is all lies. Get it?
This guy Tony is a grownup man and can’t even determine lies when they are told to him never mind have enough discernment to figure out not to pass it on. These idiots passing him information (and I know who they are) have him so convinced they are real and have real information to give him. This is very sad. This is one of the reasons in the first place I created my blog as someone, anyone needs to come to their senses and use some common sense in this investment. All these lies have gotten way out of line and have to stop. But they won’t as long as you have gullible idiots who are willing to listen to it, believe it and not challenge it to their faces. Why don’t any of you TNT followers challenge the lies?
So, what is the FACTUAL news for Iraq this period?
In talking to my CBI contact over the weekend you think she would have told me about the supposed RV rollout, if in fact there was one, as Tony described on his latest?
So, it did not happen and so relax everyone. Next, I was also told that the educational program set up has not yet begun. It will coincide with the currency swap of the larger 3 zero notes for the newer lower denominations. I was told to be careful of the lies coming out about the financial reforms and how the CBI is handling it.
Again, I was told there is a master plan they are following to get to the reinstatement in spite of the efforts by the Biden administration not to allow this occur under his current administration.
The point that was made to me once again is that the IQD should already be reinstated if nothing else to what it was prior to 1990, then to let it float and the market will drive it like any other foreign currency that is traded. By not letting it go, the longer this is extended the more money that is stolen from Iraq which is not almost $4 trillion US dollars since 2003. Is there a conspiracy going on here?
I then read some of the articles to my contact from the recent Iraqi news channels and she told me that many of the politicians in parliament and many economists do not understand the economy clearly and how it works with the dollar. I was told the dollar will always exists in Iraq just like it does in many other countries. But what Iraq really needs is to use the dinar for trade and have it widely accepted. This can not and will not happen unless the dinar is traded on FOREX.
I then asked my CBI contact to explain just what the “comprehensive system banking system” was and how it is being activated.
She explained to me it is the 3rd phase of the strategic monetary reform plan and is now being implemented.
The plan will merger some of the government run banks. There is a new set of regulations for the handling of selling the dollar and dinar from private exchangers. It also is about implementing electronic banking throughout Iraq, includes the wide use of ATMs, bank accounts and use of debit cards. The plan also called for the project to delete the zeros to facilitate the cash flow to the banks from personal stashes.
But that the US Treasury has not yet given the green light to begin this part and this is beginning to cause issues. Meanwhile the CBI is progressing in what parts of the plan it can accomplish. I was told that this has been a common theme when working with the US Treasury. They work through plans with the Central Bank, then when it comes time to execute the plan, they are not timely in following the plan, which in the long-term causes yet more delays and issues. .....TO BE CONTINUED
Prime Minister Mohammed Shia al-Sudani was not seeking, during his recent visit to the United States, a media glare or a souvenir photo at the White House as much as he was seeking to bring about a qualitative shift in the relationship between Baghdad and Washington
A profound transformation in this relationship and to go beyond the stage of focusing on the security file that has dominated the relationship since 2003, and to move towards multiple partnerships in several fields. However, in the beginning, there is an urgent need to restore confidence between the two parties in a way that achieves the strategic interests of Iraq.
There are still sharp differences between the two parties, the most important of which is in the method of performance and management of files.
It seems that Mr. al-Sudani seemed more willing to reach an understanding and present conditions that were not previously proposed in drawing up the relationship between the two parties, including financial guarantees for loans and other financial exchanges that were not clear in the exchange between Iraq and America. link