Sunday, August 25, 2024
LATEST FROM FRANK26, 26 AUGUST
Frank26
Article: "Iraq and America to resume negotiations on the banking sector next Monday"
ALAQ'S VISIT IS ON IRAQI BANKS... IRAQI BANKS ONLY CARE ABOUT A NEW EXCHANGE RATE.
Frank26
I don't care about the WTO and HCL because it only waits for one thing, the new exchange rate. The only mechanism that everyone is waiting for is the new exchange rate.
That is the simple fact. This fact is real because Sudani is constantly reinforcing that idea...by constantly coming out on TV and talking to you [Iraqi citizens] about you're going to get purchasing power.
We found out the 3 zero notes are going to coexist with the lower notes for 10 years.
Do you understand the power behind that?
That means we're going to be able to participate in not only the float but the Real Effective Exchange Rate (REER)
Frank26
The goal is what? Retrieve those [Three zero notes].
How?
As soon as we raise the value, give them purchasing power, as soon as we drop the 3 zeros, they're going to bring in all that 80 something percent [still in Iraqi mattresses]...The monetary reform plan is brilliant...It is moving at a very fast pace.
DINAR REVALUATION
ANALYSIS OF WHAT EDDIE TOLD TO FRANK26:
"Then Saleh talking about oil being sold in dinars instead of dollars."
Economist back on tv saying it’s time to drop the zeros."
---It sounds like there's a couple of interesting economic discussions happening in Iraq right now!
Saleh and Oil Sales in Dinars: Saleh's suggestion to sell oil in dinars instead of dollars could be aimed at strengthening the Iraqi dinar and reducing dependence on the US dollar. This move could potentially stabilize the local economy and improve national financial sovereignty. However, it would also require significant adjustments in international trade agreements and currency exchange systems.
Dropping Zeros from the Dinar: The economist's call to drop zeros from the dinar is a common monetary policy strategy known as "currency redenomination." This involves introducing a new unit of currency that is worth a thousand or more times the old unit. It's often done to simplify transactions and improve the currency’s image after periods of high inflation or economic instability. For Iraq, this could be a step towards stabilizing the currency and restoring confidence in its value.
Both of these measures reflect efforts to address economic challenges and enhance the stability of Iraq's financial system. The success of these strategies will depend on how they are implemented and their impact on the broader economy.
SEEMS THAT WE ARE REALLY CLOSE TO OUR DESIRED RV!!!
https://dinarevaluation.blogspot.com/2024/08/dinar-revaluation-update-seems-that-we.html
"THE SOLUTION IS THE NEW EXCHANGE RATE!!!" BY FRANK26, 25 AUGUST
KTFA
FRANK26:"THE SOLUTION IS THE NEW EXCHANGE RATE!!!"...........F26
An economic expert indicates a “solution” that will “reduce” the dollar exchange rate
8/22/2024
Today, Thursday (August 22, 2024), the expert in economic and financial affairs, Mustafa Akram Hantoush, commented on the reasons for the fluctuation of the dollar exchange rate in Iraqi markets.
Hantoush told "Baghdad Today" that "the parallel market needs to be dismantled in order for the exchange rate to decrease. Previously, there were solutions to the issue of cigarettes and gold, and the tax was reduced and the merchant was returned to buying through the platform, and the exchange rate stabilized at 145 thousand dinars.”
He added, "We have small merchants and there is no easy mechanism for them, and we have trades such as gold and cleaning materials that have not been processed, and we have huge trade with Iran and Syria worth millions of dollars, and these can be processed by giving them currency or gold," stressing, "Most countries have resolved the problem of trade with Iran, despite the American sanctions imposed on them, and solving the problem of travel to those countries.”
The exchange rate of the dollar in the parallel markets rose again, as the markets recorded prices approaching 150,000 dinars for every 100 dollars, despite the fact that the Central Bank of Iraq sells it for 1,320 dinars for every 1 dollar.
With the government's efforts to control prices in the parallel markets, the commercial markets witnessed a decline in the exchange rate in recent weeks, but it rose again, which indicates an economic problem that is still present in the country.
As a result of this, parliamentarians sparked a movement to interrogate the Governor of the Central Bank within the legislative dome, as the Finance Committee in the House of Representatives, on Sunday (August 4, 2024), sent a request to the Presidency of Parliament to interrogate the Governor of the Central Bank .
It was stated in a document appended with the signature of the members of the Finance Committee, which was received by “Baghdad Today”: “We are the members of the Finance Committee listed below who are signatories for the purpose of hosting the Governor of the Central Bank due to a major defect in the management of the bank .”
The document added: “Therefore, we demand that the Governor of the Central Bank be interrogated at the earliest session and in accordance with the applicable articles of the Constitution and internal regulations.”
LATEST FROM MILITIAMAN, 26 AUGUST
Militia Man
Article: "Alaq's upcoming visit to New York supports banking system stability." People ask me why isn't he going to Washington?
What's in New York?
New York is part of the United States banking system, United States Federal Reserve Bank is in New York. Where is the account for Iraq's oil money?
...It's not in Washington D.C. It's not at the White House. It's definitely in New York isn't it.
--Militia Man
Article Quote: "Alaq confirmed... there will be meetings held with the Federal bank and US Treasury at the end of this August"
What's the date today?
It's not far off. The last meeting he had was unannounced...I think him coming back to the Untied States, he's probably going to bring something he should have had done a long time ago.
Article: "Iraq is heading towards printing new paper currency""NO THEY HAVE A LOT MORE THAN THAT!!!" BY FRANK26, 25 AUGUST
KTFA
FRANK26: "NO THEY HAVE A LOT MORE THAN THAT!!!"...........F26
More than 100 tons.. Iraq is the ninth largest buyer of gold in 2024
8/24/2024
Economy
Iraq ranked ninth globally among the top 10 countries buying gold this year. What is meant by gold is converting foreign currency reserves into gold, not the gold of goldsmiths and citizens.
This comes as the precious metal hit an all-time high of $2,531.75 an ounce after breaking above $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.
Bullion typically benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield properties.
LATEST FROM GINGER, 25 AUGUST
GINGER
💢 Freedom Prevails, Liberty Lounger Extraordinaire 💥 Here are screenshots of the CBI website ... this IS SO EXCITING ...I can't translate the PDF exactly, but it has to be the instruction on currency exchange!!!!! I can feel the sand between my toes already and the sun shining on my face .... LET'S GO!!!! 🔥❤️🔥
💢 Goldilocks confirmed this has to do with Foreign Exchange Service Providers Working Procedures 😁
8.13.24
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Wed. 21 Aug. 2024 Ginger’s Liberty Lounge on Telegram:
This RV is a Private Exchange, not a public one. The special exchange and/or redemption has special rates for currency – a Contract rate for a couple of currencies. One being the Iraqi Dinar, which is being given as a result of an Oil for Dinar agreement between Iraq and the countries that provided troops during the process to remove Saddam Hussein.
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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JENTEL RV UPDATE RV NEWS- AA Uriel Payments are being received. They started yesterday in other countries. To meet today's requireme...