Thursday, August 22, 2024
"NO IT IS NOT... STOP THE LIES!!!" BY FRANK26, 22 AUGUST
KTFA
FRANK26: "NO IT IS NOT... STOP THE LIES!!!".............F26
Leader in the Framework: America is obstructing Baghdad’s resort to the “currency basket” to maintain the dollar’s dominance
8/21/2024
Baghdad
The leader of the Coordination Framework, Issam Al-Kriti, confirmed on Wednesday that America is obstructing Baghdad’s resort to a basket of currencies to maintain the dominance of the dollar.
Al-Kriti said in an interview with Al-Maalouma, “America’s resort to exploiting the dollar in drawing up rules for pressuring countries to achieve an agenda that protects its interests has pushed many capitals to diversify the currency basket in order to avoid sanctions and create flexibility in paying external supplies without any obstacles, which is a correct economic procedure.”
He added, “Washington is obstructing Baghdad from proceeding with steps to diversify the currency basket, especially the Chinese one, in order to maintain the dominance of the dollar, which was exploited by America as a pressure card by reducing the financial liquidity supplies for oil exports in order to pressure the government through the economic card.”
He pointed out that “America is restricting the Iraqi economy through the dollar, stressing the importance of proceeding with a roadmap to liberate the economy and push it towards more stable paths away from any tremors, especially since the American financial situation is likely to suffer major setbacks with the rise of public debt to record levels, which has begun to raise the concerns of countries and push them to take early preventive steps.”
It is noteworthy that America controls the revenues of Iraqi oil through the Federal Reserve, which sends funds to the Central Bank in exchange for selling crude oil.
almaalomah.me
LATEST FROM FIRELFY, 22 AUGUST
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Mr Sammy [his Iraqi bank friend] was explaining how our three zero notes will coexist for 10 years after they drop the three zeros...This is not a LOP...We don't have inflation like other neighboring countries around us that have to lop. We can delete zeros and introduce...the lower notes because of the value that is being added. That's purchasing power.
FRANK: That's always been the plan...I can't believe they're going to vie you these 10 years that Dr. Shabibi wanted. That's incredible...Wow!
FIREFLY: Saleh was talking about the floats and he was also talking to us about fixed rates. He's saying no decisions have been made. They talked about the pros and the cons of each one of these options. Then the CBI came out and said in the coming days we will make actions to lower the dollar exchange rate.
FRANK: Can the CBI lower the dollar exchange rate? No. Yes! How?
FIREFLY: ...The CBI's job is not to control the dollar...They can't touch a dollar but...the CBI can touch the dinar...If they lifted the value of our currency wouldn't that bring down the value of the dollar in our country?...Let's see if that is the only thing the CBI could do to bring the dollar down is raise the dinar. They say in coming days.
Central Bank: This is the mechanism for receiving dollars for travelers BY FRANK26, 22 AUGUST
KTFA
FRANK26: "CLICK THE LINK & WATCH THE VIDEO"...........F26
Central Bank: This is the mechanism for receiving dollars for travelers
8/21/2024
The Central Bank of Iraq revealed the mechanism for depositing the Iraqi dinar and receiving the dollar from travelers from the airport, stressing that "the process has become easier and safer in delivering the dollar to the real traveler, and in a very smooth electronic way without routine complications."
*THERE IS A VIDEO IN THE ORIGINAL ARTICLE SHOWING HOW A TRAVELER CAN GET DOLLARS AT THE AIRPORT AFTER DEPOSTING DINARS. (CLICK THE ABOVE LINK)
DINAR REVALUATION UPDATE, 22 AUGUST
DINAR REVALUATION
As of 2024, Iraq has been navigating a complex landscape of economic reform and anti-corruption efforts.
Here's a summary of the situation regarding corruption and monetary reform in Iraq:
Corruption in Iraq
Historical Context: Corruption has been a persistent issue in Iraq, exacerbated by decades of conflict, political instability, and weak institutional frameworks. High levels of corruption have historically hindered economic development and public trust in the government.
Current Challenges: Despite efforts to combat corruption, it remains a significant challenge. Corruption affects various levels of government and institutions, undermining economic progress and public services. Issues include embezzlement, bribery, and nepotism.
Recent Developments: The Iraqi government has made some strides in addressing corruption through reforms and anti-corruption campaigns. There have been high-profile arrests and investigations, though the effectiveness and impact of these measures are often debated.
Monetary Reform and Economic Success
Economic Reform Initiatives: In recent years, Iraq has implemented several monetary and economic reforms aimed at stabilizing the economy and addressing the fiscal deficits exacerbated by the drop in oil prices and the costs associated with rebuilding after conflicts.
Currency Stabilization: Efforts have been made to stabilize the Iraqi dinar and manage inflation. This includes adjustments in exchange rates and fiscal policies to strengthen monetary stability.
Diversification and Investment: The Iraqi government has been working on diversifying its economy away from a heavy reliance on oil. This includes investing in infrastructure, promoting private sector growth, and seeking foreign investment.
International Assistance and Collaboration: Iraq has engaged with international organizations such as the IMF and World Bank for financial assistance and guidance on implementing effective reforms. These collaborations are crucial in providing both funding and expertise for economic stabilization and development.
Economic Indicators: The success of these reforms can be measured by improvements in economic indicators such as GDP growth, inflation rates, and employment figures. As of 2024, there have been mixed results, with some progress in stabilizing the economy, though challenges remain.
Summary
In 2024, Iraq is making incremental progress in both combating corruption and implementing monetary reforms. While there have been successes, such as improved economic stability and some anti-corruption measures, significant challenges remain. The effectiveness of these efforts will depend on continued political will, institutional strength, and the ability to address both immediate and systemic issues in governance and economic management. THIS STEP OF COMBATING THE CORRUPTION IS PART OF THE REFORMS NEEDED IN IRAQ,AND IS A STRONG INDICATION THAT IRAQ IS DOING A BIG EFFORT TO CORRECT ITS WAY, AND FIGHT FOR A BETTER FUTURE AND A STRONG CURRENCY.