DINAR REVALUATION : WHY IRAQ IS DIVERSIFYING ITS RESERVES WITH GOLD , 25 AUGUST

Iraq's Gold Imports: Ninth Largest Buyer in 2024

As of August 25, 2024, Iraq has established itself as a significant player in the global gold market, ranking ninth among the top countries purchasing gold this year. 1

Iraq's Gold Market Dynamics

Iraq's appetite for gold has been on the rise, with the country acquiring over 100 tons of the precious metal in 2024. This surge in purchases has positioned Iraq as the ninth largest buyer globally, a notable development in the context of escalating geopolitical tensions and economic volatility.  1

Factors Influencing Gold Purchases

The increasing interest in gold can be attributed to several factors. Central banks, including Iraq's, are converting foreign currency reserves into gold, a strategy that underscores the metal's role as a safe haven asset and its importance as a store of value.  1 This trend is further amplified by the current economic landscape, with growing expectations of interest rate cuts by the Federal Reserve. 1

Global Context

Iraq's gold buying spree is part of a broader global trend. In 2024, central banks around the world have been increasing their gold reserves, with Russia leading the pack by acquiring 1,298 tons.  1 This surge in demand has contributed to gold prices reaching record highs, with the precious metal hitting $2,531.75 per ounce. 1

Gold as a Strategic Asset

The strategic importance of gold for central banks like Iraq's cannot be overstated. Gold is valued for its robust collateral, liquidity, and yield properties, making it an essential component of foreign currency reserves. 1 As global economies navigate through uncertain times, the appeal of gold as a hedge against inflation and a safe haven during market turbulence remains strong. 1

Impact on Iraq's Economy

Iraq's substantial gold purchases have implications for its economy. By diversifying its reserves with gold, Iraq is positioning itself to better withstand economic shocks and maintain financial stability. 1 This move also reflects a broader strategy to reduce dependency on oil exports, which have historically dominated Iraq's economy. 1

Conclusion

Iraq's emergence as the ninth largest buyer of gold in 2024 underscores the metal's enduring appeal as a global asset. As central banks worldwide continue to fortify their reserves with gold, Iraq's strategic acquisitions signal a proactive approach to economic resilience and diversification.

More Than 100 Tons.. Iraq Is The Ninth Largest Buyer Of Gold In 2024 , 25 AUGUST

 Economy     2024-08-24 | 2,315 views  Alsumaria News-Economy   Iraq ranked ninth globally among the 10 countries that bought the most gold this year.

 
What is meant by gold is the conversion of foreign monetary reserves into gold, not the gold of goldsmiths  and citizens.

Iraq bought 100 tons of gold this year, coming ninth out of the 10 countries that bought the most gold this year, compared to 1,298 tons bought by Russia, as amid escalating geopolitical tensions and economic fluctuations, interest in buying gold is increasing.
 
This comes as the price of the precious metal reached an all-time high of $2,531.75 per ounce after surpassing $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.
 
The price of bullion usually benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield characteristics.
 
https://www.alsumaria.tv/news/economy/497884/أكثر-من-100-طن-العراق-تاسع-أكبر-مشترٍ-للذهب-في-2024 

WHAT ABOUT THE FARM CLAIM PAYMENTS" BY MARKZ, 25 AUGUST

 24 Aug. 2024 MarkZ

“Farm Claim Payments: I am getting so many reports from you guys on this one. Payments are being made and I think it is just huge. I was told from day one this would be the first claim paid. 

I am excited to see it. I do know real people with money in their pockets from Farm Claims payments.”

 We are hearing that they are off “stuck” and have moved past the initial round of bond stuff and they are starting to prepare (in mass) the folks with German bonds. 

I am 100% certain that is what they are going to start processing next.

 Hopefully also releasing the money that goes with it.  I started getting this news last night.

 We are hearing money is moving fairly quickly…but we have heard that before. I think we need to see more farm claims and settlements paid. 

And past Farm claims into CMKX and fines and Penalties. This is some of the milestones we should be able to see in the coming days. 

Iraq is not the only monkey in the game….They are just the easiest to track….. . 

But we also track bonds and F&Ps…..also easy to track.

 Iraq is not the only cog in the wheel. But they just need to release that new rate.”

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MARKZ 

Thurs. 22 Aug. 2024 MarkZ

 “We have good news on the Farm Claims, the original Pigford Black Minority Farm Claims. I am sure you all have seen the article over the last few weeks that the 

“Farmers who faced USDA discrimination received historic $2B payout.”

 My understanding is Pigford farm claims first…then the original 14 claims….of which 2 people have checked in telling me they do have money…not everything but a “chunk” ….So for me it is well underway and happening. The question is when will the “rank and file” of the bond world get paid? The bond market appears to be on hold right now, but still lots of expectations for this week.” https://www.agriculturedive.com/news/usda-black-minority-farmers-discrimination-payments/723051/

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GINGER NOTE ABOUT 2024 FARM CLAIMS LIQUIDITY

Thurs. 15 Aug. 2024 Farm Claims liquidity, Ginger’s Liberty Lounge

Reports regarding Farm Claims settlements being paid are accurate; and this is a very nice item which we can happily check off our “non negotiable list”. I was unable to share the exact details from my own confirmed contact, so I am sharing this other news passed along from someone else. 8.14.24. 

Lamb: “I just got off the phone with a friend of mine, she told me that her friend that had registered with the farm claim packages … He woke up to $500,000 in their bank account with no explanation, no nothing, he showed her the bank statement and knows this other person had “no pot to piss in” before (per se). So the statement about farm claims being paid is 100%.”

https://dinarevaluation.blogspot.com/2024/08/ginger-note-about-2024-farm-claims_0851464821.html

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DINAR REVALUATION UPDATE: The Dollar's Sudden Fall Against The Iraqi Dinar: What Are The Markets Hiding? 2024, 25 AUGUST

The Dollar's Sudden Fall Against The Iraqi Dinar: What Are The Markets Hiding? 2024

As of August 25, 2024, the United States Dollar (USD) has experienced a notable decline in value against the Iraqi Dinar (IQD). 1 This shift has sparked curiosity and concern among investors and economists alike, leading to questions about the underlying factors and potential implications for the global market.

Understanding the Shift

The USD to IQD exchange rate as of today stands at 1 USD = 1,299.639509 IQD.  1 This sudden depreciation of the dollar against the Iraqi Dinar contrasts sharply with historical trends, where the USD has typically held a dominant position in global currency markets.

Global Economic Indicators

The changing role of the US dollar in the global economy cannot be overlooked in this context.  2 Traditionally, the dollar has been the world's dominant currency due to the United States' large and stable economy, which comprises 26% of world GDP and is backed by investor protections and the rule of law. However, recent geopolitical events and trade conflicts have raised questions about the dollar's future status.

Iraq's Economic Situation

The Iraqi Dinar's recent strength against the dollar can be attributed to several factors, including government measures and market dynamics. 

Despite efforts to stabilize the dinar, the currency has continued to fall against the dollar, leading to negative impacts on commercial transactions in local markets. 5 The exchange rate reached IQD 1,540 to the dollar in the parallel market, compared to IQD 1,320 in the official currency auction approved by the Central Bank.

Market Analysis

The continuous decline in the exchange rates of the dinar against the dollar has prompted the Iraqi government to take daily measures to stabilize the currency's value. 

6 However, the disparity between the central bank's rate and the market's rate for one dollar has reached unprecedented levels, with the difference exceeding 296 dinars per dollar.

Factors Influencing the Exchange Rate

The widening gap between the central bank's rate and the market rate is a significant concern. This disparity is not in line with standard financial and banking regulations, which typically consider a range of 1 to 5 thousand Iraqi dinars or 1% to 3% as normal. The situation in the currency markets in Iraq suggests that traders dealing in dinar to dollar transactions wield more influence over market prices than even the central bank and the Iraqi government.

Conclusion

The sudden fall of the US dollar against the Iraqi Dinar in August 2024 reveals complex dynamics within the global and regional economies. While the reasons for this shift are multifaceted, it is clear that geopolitical events, government measures, and market forces are contributing factors. As the world watches how this situation unfolds, it remains to be seen how the global markets will react and whether the dollar's dominance will be further challenged.

The Dollar's Sudden Fall Against The Iraqi Dinar: What Are The Markets Hiding?, 25 AUGUST

 The Dollar's Sudden Fall Against The Iraqi Dinar: What Are The Markets Hiding?

 
Last updated: August 18, 2024  Independent/- The exchange rates of the US dollar witnessed a noticeable decline against the Iraqi dinar in the markets of the capital, Baghdad and Erbil, on Sunday morning, which raised questions about the reasons for this decline and its possible repercussions on the local economy.
 
With the opening of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, dollar prices recorded a noticeable decline, as the exchange rate reached 149,500 dinars for every 100 dollars, compared to the price of 149,800 dinars for every 100 dollars the previous day.

his decline reflects a noticeable shift in the exchange market that may have long-term effects on the Iraqi economy.
 
In the local markets in Baghdad, exchange rates in banking shops also witnessed a decline, with the selling price reaching 150,500 dinars and the purchasing price 148,500 dinars for every 100 dollars.
 
This slight decrease may be an indication of market volatility or changes in supply and demand for the dollar.
 
In Erbil, the capital of the Kurdistan Region, money exchange shops recorded a slight decrease in the price of the dollar, as the selling price reached 149,500 dinars and the purchase price reached 149,400 dinars for every 100 dollars.
 
This decrease, although slight, reflects a similar movement in the region's markets and may have impacts on trade and local economic activity.
 
Possible Reasons For Decline:
 
    Government or central intervention: This decline could be the result of intervention measures by the Central Bank of Iraq or the government to contain market fluctuations and enhance the stability of the dinar.
 
    Global Economic Changes: There may be an impact from global changes in oil prices or US economic policies that may contribute to exchange rate fluctuations.
 
    Adjustments in supply and demand:  Changes in supply and demand for the dollar in local markets can play an important role in moving prices.
 
Possible Repercussions:
 
The decline in dollar prices may have positive and negative repercussions on the Iraqi economy.
 
On the one hand, the decline may contribute to supporting the purchasing power of the dinar and reduce inflationary pressures.
 
On the other hand, this change may raise concerns about market stability and potential impacts on trade and investment.

Future Prospects:
 
Although the current decline in dollar prices may be an indication of the beginning of a change in the market, the continuation of this trend depends on several factors, including local economic policies and global conditions.
 
The coming weeks will remain crucial in determining whether this decline will continue or if it is just a temporary fluctuation in the markets.
 
These transformations raise questions about the strategies of the Iraqi economy and the extent of their impact on the daily lives of citizens, which makes it necessary to follow economic developments closely to know their full repercussions.    https://mustaqila.com/هبوط-الدولار-المفاجئ-أمام-الدينار-الع/   

LATEST FROM TONY , 25 AUGUST

TNT TONY

• Sat. 24 Aug. 2024 TNT Tony
•  “Just got word that in Iraq the lower denoms are being released on the streets right now. Start poppin. It’s on its way.”

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 TNT UPDATE 

GOOD MORNING TNT IT'S FRIDAY AUGUST THE 23RD 20241:09 PM

THIS MORNING WAS TOLD TODAY IS THE DAY BUT WE DON'T KNOW THE TIME1:10 PM




GOOD THING TO BRING PEACE OF MIND... DNC IS OVER...Aug 23

NEVER THOUGHT IT WAS RELATED... THE THINGS THAT ARE RELATED ARE GETTING BETTER 1:11 PM




AT THE END OF THE MONTH SUDANI GOING TO TRY TO GET SANCTIONS OFF IRANIAN BANKS  1:12 PM




OTHER GOOD NEWS ISRAEL ACCEPTED THE PROPOSAL FOR PEACE     1:12 PM




SO WE WAIT FOR HAMAS - COULD HAVE PEACE, NO RETALIATION   1:13 PM




WE WILL SEE WHAT MAKES REAL SENSE.   1:13 PM




READY FOR IT TO BE OVER... READY FOR NEXT GREAT THING.1:15 PM

IT MIGHT SOUND HORRIBLE.... BUT... YOU CAN'T SEND ME YOUR PROBLEMS  1:15 PM




CAN'T FIX THEM... i CAN'T LOAN MONEY OR GIVE MONEY OR TELL YOU WHERE TO GET MONEY... NO ONE IS GETTING ANY. 1:15 PM




IT DOES AFFECT ME... ALL YOU ARE GOING THROUGH... I FEEL FOR YOU EMOTIONAL MENTALLY. 1:17 PM




HAVE SENATORS AND CONGRESSMEN WAITING TO GET PAID... PAID SOME LAST FRIDAY AND SATURDAY 1:18 PM




ALL OF THEM DID NOT GET PAID... SOME ARE WAITING RIGHT NOW...1:18 PM




SOME TOLD GETTING PAID YESTERDAY... PENDING... PAID TODAY... BUT DIDN'T HAPPEN...1:18 PM




SENATORS AND CONGRESSMEN NEED TO WAIT, TOO1:19 PM




ALL IS DONE... WAITING FOR EMAILS TO COME THROUGH THE SYSTEM Aug 23

IT'S NOT IRAQ IT'S NOT THE BANKS... ALL IS DONE THEY DID ALL THEY WERE SUPPOSED TO DO..1:19 PM




ALL HAVE DONE WHAT SUPPOSED TO DO BUT GO.... HOLD-UP SEEMS TO BE WHAT IS GOING ON IT THE MIDDLE EAST.1:20 PM




WAS HAPPY WHEN SAW THE AGREEMENT NOT TO INVOLVE IRAQ.... DON'T USE US AS A BATTLE GROUND... WOULD AFFECT THE WHOLE REGION 1:21 PM




WITH THESE THINGS OVER... COULD TAKE OFF... IRAQIS BEING TOLD ANY DAY... COMING DAYS.... SHOULD BE OVER TOMORROW1:22 PM

3 LETTER AGENCIES.... WAITING... TODAY AFTER 51:22 PM




ON WED WAS TOLD THEY WERE LOADING THE CODES TO RELEASE IT RIGHT THEN... OBVIOUSLY DIDN'T RELEASE.1:22 PM




GIVING ALL INFO... NOT HIDING INFO - ALL WE CAN DO IS WAIT FOR THE FINALIZED AGREEMENT WHICH CAN HAPPEN AT ANY MOMENT.

https://dinarevaluation.blogspot.com/2024/08/tnt-update-sudani-going-to-try-to-get.html