Wednesday, August 21, 2024
The Iraqi Dinar in Oil Trade: 2024 Overview BY DINAR REVALUATION , 21 AUGUST
The Iraqi Dinar in Oil Trade: 2024 Overview
As of August 21, 2024, the Iraqi dinar is undergoing a significant shift in its role in oil trade and the broader economy, marking a pivotal moment in Iraq's financial history.
Iraq's Strategic Shift from the US Dollar
On January 1, 2024, Iraq made a bold move by banning all transactions involving the US dollar. This decision was aimed at controlling the fluctuating black market exchange rate and promoting the use of the Iraqi dinar. The catalyst for this transformation was an extended period of currency instability, which led to surging prices and civil unrest.
Impact on Oil Trade
Iraq's oil revenues have continued to dominate the country's economy, accounting for nearly 89% of the total federal budget revenues in the first four months of 2024. This reliance on oil underscores the significance of the industry and the crucial role it plays in Iraq's fiscal health. However, experts have warned that this heavy dependence exposes Iraq's economy to global market fluctuations, urging the government to diversify the economy and reduce its reliance on oil.
De-Dollarization and the Dinar's Ascendancy
Iraq's decision to move away from the US dollar in trade, especially in oil transactions, has been driven by several factors. The US dollar's unpredictable nature, compounded by US fiscal policies and sanctions, has made Iraq vulnerable to financial instability. By promoting the Iraqi dinar in oil trade, Iraq aims to secure more control over its economic destiny and reduce its vulnerability to external economic pressures.
Challenges and Opportunities
The transition to the Iraqi dinar in oil trade presents both challenges and opportunities. While it aims to strengthen Iraq's economic independence, the move also requires careful macroeconomic policies and structural reforms to secure fiscal and debt sustainability. The International Monetary Fund (IMF) has emphasized the need for sound policies to achieve sustainable, inclusive, and private sector-led growth in the face of potential risks.
The Iraqi Dinar's Investment Appeal
The Iraqi dinar's potential for appreciation has attracted investors, but its value remains uncertain. Speculation about the currency's future has led to investment, but economic experts caution against relying solely on currency appreciation, especially given Iraq's economic challenges.
Conclusion
The Iraqi dinar's role in oil trade in 2024 is a testament to Iraq's strategic efforts to assert economic sovereignty. As the country navigates the transition from dollar dependence to dinar ascendancy, it is crucial for policymakers to implement reforms that foster economic diversification and stability.
SOURCES:"NOT A SCAM", PART. 1, BY GINGER, 21 AUGUST
💢🔹Not a Scam Part 1/2
💢 Foreign currency speculation is absolutely not a scam. If it was then please someone tell me why did W Bush sign an E.O. making it legal to buy depressed foreign currency from other countries for the purpose of getting a return on investment? Then he let only his globalists buddies know about it --- so they could get in on the fun, but normal folks like US were NEVER even supposed to learn about it.
💢If it's such a scam, then someone please tell me why W bought an 18 wheeler full of IQD and had it delivered to his vast ranch in Texas to be hidden in the subterranean tunnels beneath his property for safe keeping - until the eventual day he could cash in on his own ROI?
💢If this is such a scam then why did President Trump personally buy billions of IQD to support his personal wealth sustainment?
💢If this is such a scam, then why did Obama comment on a radio interview in 2016 that the USA had billions of Iraq's currency in our national holdings that would one day be worth a lot? Hmm? Anyone? I heard him say it!
💢If the IQD is such a scam, then why did President Trump say in a TV interview with MSM that the USA has "32 Trillion of their money" - referring to Iraq - and suggesting in that we could eventually "cash in" on that one day to help our own country out significantly with our debt?
💢 Kim Clement is likely one of this century 's most renown prophets of our time; and God, speaking through him, as a conduit, prophesied that Iraq's currency would revalue to its former glory. Before the conflict in the middle east, Iraq had the most valuable Sovereign Currency in the entire world. Their in ground assets are of an incredibly, vast worth!
💢If this whole foreign currency speculation is such a scam, then someone please tell me why Donald Trump, when on his TV show reality show -- "Apprentice", walked up to a contestant whom he was incredibly impressed with, and Trump handed him a Zim Bond Note, saying, "You hang on to this. This is a Bond Note from Zimbabwe. It's not worth much right now - but one day, it'll be worth a lot. And I mean A LOT", he said grinning.
💢At a rally on 2.17.24, President Trump called himself a "whale " five times! And even attributed the comment to mean "financially speaking". Did you know that he and Warren Buffett both spent millions on investing in the Iraqi Dinar to further secure their own family's wealth? Would they really do that if this was a scam??
💢People who poo poo these currency revaluations wax eloquently about things they know absolutely nothing about! They are completely disregarding the upcoming Global Currency Reset (which is the antithesis of the Great Reset) -- as President Trump said during his Pressers at least a dozen times -- "will put the currencies of all the nations on parity, making it more fair for international commerce". This means a lot of nations currencies will revalue -- some might come up in value, and others might come down just a bit -- but the idea is parity. Equality. So no one region of the world has an overwhelming advantage over poor, impoverished countries. The idea - the reality - of poor, third world countries as we know them - will (eventually) be NO more! Why? Because of this GCR, which these naysayers know nothing about!! Currencies must revalue and some, must be reinstated on the international market - as a Sovereign recognized currency -- such as Iraq. The people poo pooing Iraq and saying they aren't ready, they're not going to touch their RV this year, they know NOTHING about what's going on inside the country of Iraq. There's a lot more to this story than a couple of lines in their MSM, which can often be put out to spread misinformation to cloud their true intentions and plans - Because they don't want the rest of the world to know when this is going to happen.
Al-Nujaba: The truce is over and the option of striking American bases in Iraq is now available, 21 AUGUST
Al-Nujaba: The truce is over and the option of striking American bases in Iraq is now available
The Al-Nujaba Movement - one of the Iraqi factions involved in the so-called "Islamic Resistance in Iraq" - considered on Tuesday that the truce that was aimed at giving the government time to negotiate the withdrawal of US forces from the country has ended, and the options of targeting military bases have become available.
“The resistance factions in Iraq have ended this truce, and therefore all options are available to the resistance forces to target all American bases inside Iraq,” Haider al-Lami, a member of the political council of the al-Nujaba movement, told The National.
Al-Lami considered that there was "procrastination and delay" by America regarding the withdrawal of its forces during the talks with the Iraqi government.
"There will be a response in the coming days that may target more than one place, not necessarily in Iraq, Syria and Israel," added Al-Lami, who warned after the Babylon strike that such a move was under consideration.
He said that some forces will remain in the Kurdistan Region until September 2026 to supervise counter-terrorism operations in Syria. The situation there is different from Iraq, as ISIS is stronger in Syria and has strongholds. link
Iraq's Path to Joining the World Trade Organization: A 2024 Update by DINAR REVALUATION, 21 AUGUST
Iraq's Path to Joining the World Trade Organization: A 2024 Update
Iraq's journey towards becoming a member of the World Trade Organization (WTO) has recently taken significant strides, marking a pivotal point for the nation's economic engagement with the global community. As of August 21, 2024, Iraq's accession process has been reinvigorated with renewed commitment and high-level negotiations, marking a notable advance in the country's bid to join the WTO.
Background and Recent Developments
Resumption of Talks
Iraq's accession process to the WTO was officially put on hold after the second meeting in April 2008, with only an informal meeting taking place in November 2017. However, in July 2024, Iraq made a significant return to the WTO accession talks. The resumption of these talks was welcomed by members of the WTO, highlighting the importance of Iraq's formal re-entry into the accession process.
High-Level Delegation
Iraq's Minister of Trade, Mr. Atheer Dawood Salman Al Ghrairi, led a high-level delegation from Baghdad to the third meeting of the WTO Working Party, which was chaired by Ambassador Saqr Almoqbel of the Kingdom of Saudi Arabia. The Minister's presence was the first since 2008, signaling Iraq's renewed dedication to its accession process.
The Accession Process
Alignment with International Rules
Iraq's government has shown a strong commitment to aligning its trade policies and regulatory frameworks with international rules and standards. This alignment is a crucial step in the WTO accession process and demonstrates Iraq's intention to integrate more fully into the global economy.
Economic Reforms
Iraq's accession to the WTO requires significant economic reforms, including enhancing trade policies, boosting the business environment, and creating favorable conditions for foreign investment. Despite ongoing security, political, and regional challenges, Iraq's government has remained steadfast in pursuing these reforms.
Regional Security and Integration
Iraq's integration into the global economy through WTO membership could help deepen regional economic integration, which in turn could contribute to peace and security in the region. This aspect was emphasized during the January 2024 visit of Ambassador Saqer AlMoqbel to Baghdad.
Challenges and Progress
Harmonization of Tariff Structure
A significant challenge in Iraq's accession process was the discrepancy in the tariff structure between the federal government and the Kurdistan Regional Government (KRG). However, these discrepancies were harmonized in 2019, which was a major step forward in the accession process.
Negotiating Experience
The negotiating team from Iraq has reached a new level of experience in the field of negotiation, reflecting the development of their capabilities and competence in dealing with complex issues related to WTO membership.
Conclusion
Iraq's return to WTO accession talks represents a significant milestone in its bid to join the world trading community. The country's commitment to economic reforms, alignment with international rules, and harmonization of trade policies has laid a solid foundation for its continued negotiations. As of August 21, 2024, Iraq's accession process is back on track, with the hope that it will contribute to regional security and economic integration.
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