DINAR REVALUATION

Friday, August 9, 2024

‘Significant Fed Pivot’ Soon, This Asset To Skyrocket | Levi Gunter

Iraqi lawmaker: Investigation ongoing into CBI's governor's extended interim appointment, 9 AUGUST

Shafaq News/ Hadi Al-Salami, a member of Iraq's Integrity Committee, disclosed on Thursday that his committee has been investigating the prolonged appointment of Ali Al-Allaq as Governor of the Central Bank of Iraq (CBI) for over a year.

Al-Salami told Shafaq News Agency that the committee had repeatedly urged Prime Minister Mohammed Shia Al-Sudani to "terminate Al-Allaq's interim appointment due to numerous alleged violations," emphasizing that the government's agenda, as outlined by the Prime Minister during the formation of the government, mandates the termination of acting positions within six months. "Despite this, Al-Allaq continues to hold the position without any official action to end his appointment."

The Integrity Committee has referred several issues concerning CBI to the Integrity Commission and the Public Prosecutor. These issues include alleged mismanagement of exchange rates and concerns over substantial sums of money and benefits accruing to various Arab and foreign banks, including those from Jordan.

Al-Salami also revealed that the "Acting Speaker of the Parliament has agreed to host CBI's Governor in upcoming sessions," indicating that "numerous questions will be posed to Al-Allaq during this session."

In response, Al-Allaq stated to the Iraqi News Agency that meetings are scheduled with the Federal Reserve and the US Treasury Department at the end of August. "These discussions will focus on external transaction processes and the sanctions imposed on certain banks."

Al-Allaq defended his leadership, asserting that "the Central Bank has successfully managed external remittances and the sale of dollars."

LATEST FROM MNT GOAT, 9 AUGUST

Mnt Goat

Article: "PARLIAMENT RETURNS THE OIL AND GAS LAW TO THE GOVERNMENT: IT MUST ADD

PARAGRAPHS THAT KEEP PACE WITH GLOBAL DEVELOPMENTS" Quote: "the government must work on amending and adding new paragraphs to the
law..." WOW! This is excellent news. This article shows us the Oil and Gas Law is actually farther ahead than the news has been telling us. It actually did reach parliament and the readings were conducted so far...

..what is actually occurring between the CBI, the Feds and the US Treasury. If you read the headlines today you might begin to panic...you might say things are looking really bad for Iraq. But I assure you that this is all actually VERY GOOD news for us investors... this recent move by the US Treasury was made for the benefit of the currency reform process so that they could move to the next step of the currency reform once these issues are fixed...

Iraqi Dinar | Iraq Moves Forward Steadily | Iraqi Dinar News Today 2024

America announces the arrival of F-22 aircraft to the region to confront the threats of Iran and its agents,9 AUGUST

The US Central Command announced on Thursday the arrival of F-22 aircraft to the region as part of US reinforcements to confront threats from Iran and its proxies.

"F-22 aircraft have arrived in the region to mitigate the possibility of regional escalation," the US Central Command said.

The Middle East is bracing for a possible new wave of attacks by Iran and its allies following the assassination of the head of the political bureau of the Palestinian resistance movement (Hamas) in Tehran and a senior commander in the Lebanese Hezbollah group in Beirut, raising fears of a wider war in the Middle East.

US Secretary of State Antony Blinken said US officials were in contact with allies and partners in the region and that there was "unanimous agreement" that no party should take any actions that would escalate the situation. link

LATEST FROM MILITIAMAN, 9 AUGUST

Militia Man

Article quote: "Even the measures taken by the government to try to down low dollar prices to 1320 to sell it in a supported manner didn't not reach the elimination of speculation in the markets reducing the price of a dollar in the black market."

It didn't work to kill the black market just yet but I got a strong feeling since the dollar auctions have gone from 250 million a day down to less than 25 million...consistently for over a week...we can see where their priorities lie.

Iraq is still being able to function. They told us their 2023-24 budget was legal, has always been and they're moving forward with it...Even though we haven't seen an exchange rate change they can still function, which is fine.. .Now they're starting to do things that are getting their banks in order and we're seeing the results of that.

Article: "Central Bank Governor's Resignation: Admission of Failure or Escape from the Repercussions of the Financial Crisis?"

Do we really think at this stage of where the reforms are now and how far they have come to even suggest Al-Alaq is going to go to Al-Sudani and give his resignation? ...Al-Alaq in present terms has kept the country in a state of financial stability to date...This is a hit piece. One that is not surprising as the dollar auctions have dried up. That is very painful to those that lived off the cash cow... We shall see if it arrives and he steps aside as they put it...