Parliament hosts Central Bank Governor to discuss exchange rate
2024-08-04
Parliament hosts Central Bank Governor to discuss exchange rateAlsumaria News – Politics
A parliamentary source revealed today, Sunday, that the parliament is hosting the Governor of the Central Bank, Ali Al-Alaq, today to discuss the exchange rate.
The source told Sumaria News, “The Finance Committee is hosting the Governor of the Central Bank in today’s parliament session, Sunday.”
The source added, “The focus of hosting the Governor of the Central Bank is to discuss the gap between the official price of the dollar and the price in the parallel market.”
Three informed sources close to the political and parliamentary decision-making process in Baghdad revealed extremely dangerous information confirming that the US Treasury Department has taken a permanent headquarters in the Central Bank of Iraq building.
They considered that this step came as a result of the great pressures on the Iraqi banking system with the aim of limiting money laundering and dollar smuggling, as the governor of the Central Bank was forced to allocate an entire floor for US Treasury departments to monitor money transfers and prevent any illegal activities.
The three sources confirmed that a team of American employees is working permanently at the Central Bank of Iraq, as part of intensive efforts to ensure Iraq's commitment to international standards for combating money laundering and terrorist financing.
The sources stressed that the Iraqi banking sector is suffering from increasing pressures exerted by the US Treasury to prevent the smuggling of dollars to countries such as Iran, Russia and Syria, which are facing economic sanctions.
One of the sources explained that the governor of the Central Bank of Iraq tried to resist these restrictions, but the American response was strict, as the Central Bank of Iraq was included among the institutions considered to support money laundering operations and failure to comply with sanctions.
In previous reports, the US Treasury imposed severe sanctions on several Iraqi banks, on charges of involvement in money laundering and dollar smuggling. The policy of the Central Bank of Iraq is characterized by randomness and the absence of a clear strategic plan to protect Iraq's money from smuggling, which prompted the US Treasury to impose strict and direct control over the Central Bank and Iraqi banks.
Iraqi banks are currently undergoing a rigorous evaluation process under the supervision of the US Treasury Department, which includes monitoring all banking operations and money transfers. This situation reflects the great challenges facing the Iraqi banking system in light of the ongoing efforts to reform it and improve its image before the international community.
On the other hand, Prime Minister Mohammed Shia al-Sudani has repeatedly sought to ease these measures, trying to reach understandings with the American side. But there is strong resistance from Washington, which insists on correcting the course of the economic process and reforming the banking system in Iraq. Al-Sudani finds himself in a difficult position, as he must balance internal pressures and international demands.
In a broader context, the current situation reflects the complexity of the relationship between Iraq and the United States in the financial and banking sphere. While Iraq seeks to preserve its sovereignty and the independence of its banking system, the United States continues to exert pressure to ensure that the Iraqi banking system is not used to finance illicit activities. link
Are You Prepared for Currency Exchanges in a New Gold-Backed System?
On August 3, 2024 By Awake-In-3D
New gold-backed digital currencies are coming and learning as much as we can about the future of GCR currency exchanges should be on everyone’s to-do list.
A new and promising financial system alternative is emerging—one that harnesses the intrinsic stability and value of gold-backed digital currency technology.
It has long been my view that a gold-backed component is what will create a significant revaluation (RV) of our GCR currencies and bonds.
Key Takeaways
Understand Gold-Backed Value: Grasp the concept of how gold-backed currencies tie value directly to gold, ensuring more stability compared to fiat currencies.
Learn Transaction Mechanics: Familiarize yourself with the process of direct peer-to-peer transactions in the new system, which bypass traditional banking methods.
Embrace Digital Tools: Utilize modern digital apps and platforms designed for managing and converting gold-backed currency units seamlessly.
Prepare for the Transition: Stay informed and ready for the shift to gold-backed currencies to gain a significant advantage in the evolving financial landscape.
As we all witness the logical conclusion to the Great Global Fiat Currency Debt System experiment, understanding and preparing for the introduction of a new gold-backed currency system alternative becomes essential.
This alternative financial framework, often referred to as the Global Currency Reset (GCR), offers a more stable and reliable store of value by tying currency directly to gold.
Unlike fiat currencies, which are backed only by government promises, gold-backed currencies ensure that the value of money is anchored in a tangible and historically trusted asset.
In the not-too-distant future, we may witness a shift where digital platforms facilitate direct peer-to-peer transactions using gold-backed currency units, bypassing traditional banks and reducing transaction fees.
This system promises greater transparency and security, making financial exchanges simpler and more efficient.
This article explores the mechanics of how GCR currency exchanges might work, providing you with information needed to help understand this impending change.
By familiarizing yourself with these concepts now, you can position yourself advantageously as this new financial paradigm takes shape.
The Basics of Gold-Backed Currencies
Gold-backed currencies are mediums of exchange where the value of the currency is directly tied to a specific amount (weight) of gold. Unlike fiat currencies, which are backed only by government promises, gold-backed currencies offer a tangible asset that provides an intrinsic store of value.
This shift is expected to bring greater stability and reduce the risk of manipulation that plagues our current global fiat currency system.
Why Gold?
Gold has been a symbol of wealth and stability for centuries. Its inherent value, rarity, and universal acceptance make it an ideal foundation for a new financial system. As fiat currencies face devaluation and economic uncertainties, gold offers a safe haven, ensuring that currency retains its value over time.
The Mechanics of Currency Exchange
In the emerging gold-backed system, currency exchanges will look quite different from what we are used to today. Instead of dealing in purely digital or paper money, transactions will involve units that represent a specific amount of gold.
For example, a unit might be equivalent to one gram of gold. This means that the value of your currency is directly tied to the market price of gold, providing a more stable and reliable store of value.
Imagine you have a substantial amount of new gold-backed currency units after an exchange, each based on 1/2 gram of gold. Today, one gram of gold is worth around $75.
As the new system values these units in terms of gold, they will have substantially higher purchasing power when exchanged for pure fiat currencies such as the US Dollar or Euro. This is how the GCR currency revaluation is realized, leading to significant gains in value, especially as the global economy adjusts to this new standard.
Practical Applications
How will this work in practice? Let’s say you want to buy a house. In the new system, you could transfer the gold-backed units directly to the seller without the need for traditional banks. This direct peer-to-peer transaction not only simplifies the process but also reduces fees and eliminates the need for middlemen.
Digital Integration
One of the most exciting aspects of this new system is its integration with modern digital technologies. Apps and desktop platforms will allow users to manage their gold-backed currency units seamlessly.
You can convert your units into local digital currencies, deposit them into your bank, and spend them as you would with any other form of money.
This blend of old-world value (gold) with new-world technology offers a compelling vision of the future of finance.
Future Implications
As the new gold-backed currency system gains traction, we may see a significant shift in how we perceive and use money.
Traditional fiat currencies like the dollar or euro might eventually adopt gold backing to remain competitive. For now, this system offers a robust alternative, promising greater security, transparency, and stability.
Are You Ready?
The transition to a gold-backed currency system is more than just a financial adjustment; it’s a paradigm shift. Understanding how this system works and preparing for its implementation can give you a significant advantage.
Stay tuned to the “Endgame GCR” podcast for more insights and updates on this transformative journey. The future of finance is golden, and now is the time to get prepared.
Many more details and examples of the new gold-backed currency system and RV/GCR exchanges are discussed in Episode 3 (links below).
FRANK26: "FOR THE SUCCESS OF THE MONETARY REFORM!!!"...........F26
Urgent study to localize gold in Iraq
8/1/2024
Minister of Trade Athir Dawood Al Ghurairi discussed this morning, Thursday, with a number of gold traders the obstacles they face in their work inside Iraq and working to provide the necessary facilities to localize the gold industry in the country.
During the meeting, the Minister of Trade confirmed, according to a statement by the ministry, a copy of which was received by {Al-Furat News}, that “the Ministry of Trade, within its ministerial program and concerned with formulating trade and foreign policy, is working to support and organize the work of commercial sectors, including the gold trade sector, due to its great weight in the country’s economy.”
Al-Ghariri said, “Through this meeting, we want to identify the work mechanisms and obstacles in order to provide the appropriate environment for economic growth and develop policies that contribute to enhancing the position of the gold sector in the local and international market.”
The Minister of Trade pointed out that "the Ministry is ready to cooperate with traders and begin taking steps to overcome obstacles and provide the appropriate environment to achieve the localization of the gold industry within Iraq according to the needs of the market and the consumer, so that this industry returns as it was before, and even stronger, in light of the government's direction to support the commercial and industrial sector in the country."
Minister Al-Ghariri announced, "While speaking about regulating commercial sectors, instructions will soon be issued to regulate e-commerce in Iraq. This is a step towards updating commercial policies and keeping pace with developments in this area to provide a safe and prosperous commercial environment that contributes to driving the national economy."
For their part, the gold traders thanked the Minister for his interest and support, and raised a number of problems and challenges facing their work, expressing their hope that these meetings would contribute to improving and developing this sector.
According to the statement, the meeting resulted in “an agreement to submit a comprehensive study to localize this industry, following the example of developed countries that have been famous for this industry in recent decades. A period of fifteen days was set to prepare the study, and another meeting will be held to explain the study, its basic aspects, and its returns, in order to come up with recommendations to be presented to the relevant government agencies and take the appropriate decision.”
