Friday, August 30, 2024
STATUS OF THE RV, PART. 2. BY MNT GOAT, 30 AUGUST
So, on my Wednesday’s call to Iraq, my contact also told me something worth sharing and I certainly hope all these stupid intel gurus are listening. She told me that millions on Iraqi citizens also listen to the USA news for information about their own currency on the internet. This could be dangerous since we all know about the cookos out their spreading ridiculous rumors. So Iraqis get mixed up and confused, as they tell them the RV has happened or the lower denominations are out for years now and nothing has happened. So, they too are “pissed off” at these stupid intel gurus. Yes, TNT Tony you are the worst they talked about. Just so all his little brainless puppets know what he is doing to actually harm and slow down the process of the currency reform and not helping it. She told me they now have to combat all this bullshit too and re-educate the people of the FACTS at the same time. This is NOT good. She asked to plea with these idiots to “STOP IT”. I plea today for them to STOP!
So, what is in the REAL news today from Iraq?
I am not going to talk about some bullshit from a bank or some “secret” US Treasury contact. I am going to tell the truth as to just where Iraq stands.
There was an article titled “STRONG ECONOMY STRONG DINAR” by an economists named Al-Badrani. The article is a detailed one that makes total sense except for one thing. It does not beg the correct question – so where is the FOREX rate for the value of the “rentier” oil economy right now. Yes, RGHT NOW not 20 years down the road! Surely the 1/6 of a penny DOES NOT reflect the true value of the dinar RIGHT NOW and it is being suppressed. So, its good reading and gives us an idea where Iraq needs to go and they surely need to progress forward to make the dinar even stronger. But I keep saying if you have all these assets, $120 billion in the bank, gold reserves, bla, bla, bla, then so where it the true rate of your currency RIGHT NOW not 20 years away? So we all need to remember this is the Obama, Biden and also the Harris plan for Iraq. The plan is to wait and wait and wait while they groom and steal yet more money.
We also read that Minister of Finance Taif Sami stressed on Tuesday, the importance of completing plans to regulate the work of the government banking sector. This is not new news for us. But again we must go to WHY the article. They have told us the US Treasury in now taking up an entire floor in the Central Bank. Why are they there? They are there for all the reasons Sami talks about. They need to merge these banks or eliminate them. There are way too many banks in Iraq, thus increasing the liability and efforts to monitor them. Yes, it is all about corruption and controlling money, and not just the dollar either.
We know from past articles that the US Treasury has sanctioned 32 banks over suspicions of money laundering and smuggling to Iran. But these are just 32 of the total banks in Iraq. We learned the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, is now in Washington DC, to discuss lifting the ban on these Iraqi banks sanctioned by the US Treasury Department, as well as enhancing bilateral cooperation between the monetary institution in Iraq and the US Federal Reserve. NO, he is not hear to make the final arrangements for the RV. How stupid to say such a thing. Again just more guru intel bullshit. Please STOP the lying!
Financial researcher Bassam Raad explained to us that the visit of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, to the U.S. should has “positive effects and aims to achieve Iraq’s financial interests and obtain technical support in the banking field to ensure the success of the monetary policy plan by relying on authorized banks as correspondent banks in foreign transfer operations,” noting that the visit aims “to maintain a bilateral dialogue on possible measures for the purpose of lifting sanctions by the US Treasury Department on banks banned from dealing in the US dollar.” Personally I do not feel he will be successful in getting the sanctions lifted. But Alaq has other work in Washington too. There are other issues in dealing with foreign trade with some major players. Remember that the WTO accession is just around the corner.
😊 Talk about the WTO and so let’s watch parliament now give they the laws they asked for. The Parliamentary Finance Committee confirmed, on Wednesday, that the development path will achieve a qualitative shift in the course of trade exchange between Iraq and the world. Opps… and the dinar is going to stay at 1/6 of a penny?
There is an interesting article titled “PARLIAMENTARY FINANCE: THE PATH OF DEVELOPMENT WILL ACHIEVE A SHIFT IN THE COURSE OF TRADE EXCHANGE BETWEEN IRAQ AND THE WORLD”. I suggest you go take a peek at it.
The Parliamentary Economic Committee member Yasser announced today, Thursday, the existence of a project to amend about 10 economic laws, explaining that the goal is to enhance trade, facilitate customs and tax procedures, support the public and private sectors, and develop a real map for economic reform. Remember the article from the WTO telling us this is the last issue they need resolve? In know, I know this news was from nearly 6 months ago, but now they are now getting it done. Yes, Speedy Gonzales they are not…. lol..lol..lol. 😊
Economic expert Mustafa Hantoush said today in an article titled “ECONOMIST TALKS ABOUT THE MECHANISM FOR REVIVING THE IRAQI ECONOMY”. He says
“What the Central Bank of Iraq is doing by empowering foreign banks or foreign investors at the expense of the Iraqi banking system is a fatal blow to future opportunities to advance the Iraqi economy through the banking system.” I do not agree with his view. He does not even consider all the capital still sitting in the stashes and hoards of money by the citizens not yet deposited in the banks. This is really at the heart of “reviving” the Iraqi banks. Why would any economists not think that dealing with foreign banks is not a good thing for Iraq. These kind of articles just send mixed messages to the citizens of Iraq and to us investors.
So, this is the newest news from Iraq. There is no big surprises, revelations or “WOW!” news this period. NO! There are no newer lower denominations or coins out in Iraq. This is all just silly and stupid guru talk again by ignorant people.
Let’s see what happens with Alaq’s visit to Washington DC. By the way my CBI contact did tell me to remind everyone that Alaq is still governor and his resignation was NOT yet accepted. I believe this is a VERY good thing. He is a brilliant guy and he will get us through this RV threshold but at the right time. We must remember there are many factions in Iraq who don’t want Iraq to progress forward and will lie to the people to lessen their hope of a bright future. But it is coming.
Right now, if you live in the US you should be focusing on the November elections and what the prophets are telling us. Folks there is going to be a MAJOR, and I do mean MAJOR, shakeup in politics coming to the U.S. All this bullshit will end. Things will get much better. When this happens in the US remember that it spreads to the rest of the world.
Prosperity and abundance can’t be contained. This is what I can’t understand. Why would any political leaders want to intentionally bring down the US, if they themselves weren’t corrupt and working for some other agenda, orchestrated by some global players who sit in the background and tell them what to do. Is this a government “By The People For The People” of the country to which it stands? We must take back the control of our own governments.
Now I say who is the best candidate to facilitate this? Think about it and vote accordingly in November. This goes the same for all you other countries too in your elections. Yes, I mean especially EU, Canada, UK, and Australia. Stop thinking about just what you want for free handouts and socialism, but instead what the future world is going to look like for your children.
Oh… I might add that our PRAYERS are working and so please, please don’t let up on the prayers too.
DINAR REVALUATION REPORT: "Strong Economy, Strong Dinar" in Iraq: Insights from Economist Al-Badrani, 30 AUGUST
"Strong Economy, Strong Dinar" in Iraq: Insights from Economist Al-Badrani
As of August 30, 2024, discussions surrounding the Iraqi economy and the potential strength of the dinar continue to be influenced by various factors. An article titled "Strong Economy, Strong Dinar" by economist Al-Badrani offers insights into the relationship between economic stability and currency strength in Iraq.
Economic Stability and Currency Strength
Al-Badrani emphasizes the critical link between a strong economy and a strong national currency. Iraq, as a country heavily reliant on oil revenues, faces challenges in diversifying its economy and ensuring fiscal sustainability. The economist argues that a diversified economy, reduced oil dependence, and fiscal adjustments are crucial for long-term economic health and the strength of the dinar.
Recent Economic Reforms
In June 2023, Iraq's parliament approved a record-breaking three-year budget totaling 198.9 trillion Iraqi dinars (approximately US$153 billion), marking the largest in the country's history and the first multiyear budget. This move is viewed as a step toward addressing unemployment, poverty, and improving government services, which are key to enhancing the economy's resilience and the dinar's strength.
Challenges and Opportunities
Despite these reforms, Iraq faces significant challenges, including pervasive corruption, inadequate public services, and political instability. These issues have hindered economic progress and contributed to public discontent. However, there are positive strides in human rights and governance, which could potentially create a more stable environment for economic growth.
Perspective on Currency Value
Critics argue that the current forex rate for the dinar does not accurately reflect the true value of the currency given Iraq's oil economy. Al-Badrani's article suggests that the dinar's value is suppressed, and a more realistic rate would better represent Iraq's economic potential.
Path Forward
Al-Badrani's article highlights the need for Iraq to progress economically to strengthen the dinar. This includes private sector development, labor market reforms, financial sector modernization, and restructuring state-owned banks. Addressing these areas could lead to higher economic growth, a stronger dinar, and reduced vulnerability to oil price volatility.
Conclusion
The strength of the Iraqi dinar is inextricably linked to the country's economic health. Al-Badrani's analysis underscores the importance of comprehensive economic reforms and diversification to ensure long-term stability. As Iraq continues to navigate its economic challenges, the strength of the dinar will remain a key indicator of the country's overall economic performance.
STATUS OF THE RV BY MNT GOAT, PART. 1, 30 AUGUST
STATUS OF THE RV
Hello everyone. So, today is Thursday and I needed to confirm a few issues with my CBI contact in Iraq before publishing this Newsletter. This will be the only Newsletter this week. Sorry!
Yes, today’s news is mostly about what my CBI contact told me is happening in Iraq. There are no newer lower denominations in the ATMs or elsewhere. This can not and will not happen until the rate changes closer to a dollar. However, there are lower denominations being loaded in the ATMs and they are the 250, 500 and 1000 notes.
So, where these intel gurus in the USA get their information from, I do not know. Just lie this idiot TNT Tony told us he had a contact in the US Treasury tell him it was going to R for the last 10 years. Did it? This is the same US department that is now occupying an entire floor in the CBI telling us they are there to clean up the corruption with the dollar. Oh….. does this seem strange to you. I think this TNT idiot has been caught in a “Super Fantastic” lie. Yes, I have been telling all you stupid TNT followers he has been lying to you all along. He is a “scam artists” and a VERY good one. What will it take to make you believe me? Stay away from this guy and many others.
How many times already have they gotten you excited over the last 20 years? How many times are they going to tell you their bullshit!. ☹ This is FACT. Also, I was told once again the process will begin with “EDUCATION” followed by “ACTION”. Get it? Yes, we have seen some of it already but there is more to come. Also, I should not have to remind my Mnt Goat blog readers of the necessity of the parallel market to get very close, if not matching, tp the official CBI rate. We are watching for this and it has not yet reached its goals. Has it? NO it has not! So, have we seen this yet? What is all this stupid rumors and ignorant hype from all the intel gurus about the lower denominations again and the RV happening? Yes, again. How many already did they try to lie to us? I mean mostly this idiot TNT Tony and his tiny, little, mentally deranged groupies. Where does this idiot get his intel from OR does he just make it all up? Stop it please! ☹
....TO BE CONTINUED
Evening News with MarkZ. 08/29/2024
DINAR REVALUATION REPORT: Iraq's Parliamentary Committee Announces Plan to Amend Economic Laws for Trade Facilitation, 30 AUGUST
Iraq's Parliamentary Committee Announces Plan to Amend Economic Laws for Trade Facilitation
The Parliamentary Economic Committee of Iraq revealed on August 30, 2024, its intention to amend approximately 10 economic laws. The objective of these amendments is to enhance trade facilitation, simplify customs and tax procedures, support both the public and private sectors, and create a strategic roadmap for economic reform.
Enhancing Iraq's Economic Landscape
The committee's initiative aims to address and improve the current economic landscape, which has been challenged by various factors such as political dynamics and the country's reliance on oil revenue. Iraq has struggled to diversify its economy and modernize its financial and banking sectors, with the private sector and foreign direct investments (FDIs) remaining underdeveloped. Corruption and the lack of basic services have also been widespread issues.
Digital Customs and Revenue Growth
In a recent move to boost trade and government revenue, Iraq launched ASYCUDAWorld, a customs automation software, in October 2023. This software has been instrumental in digitalizing customs clearance processes, reducing risks of fraud, and streamlining cross-border commerce. Since its implementation, customs revenue at Baghdad International Airport has increased by over 215% between January and May 2024, compared to the same period the previous year. Import transactions also rose significantly, hitting a decade-long high.
Expansion of Digital Customs
ASYCUDAWorld is currently operational in Iraq's nine largest customs offices, which together account for 81% of the nation's international trade by volume. This includes customs operations on the borders with Kuwait, Jordan, and Saudi Arabia, as well as at the port of Umm Qasr leading to the Persian Gulf.
Long-term Partnership and Political Backing
The agreement to implement ASYCUDAWorld was initiated in May 2021, as part of Iraq's partnership with the Automated System for Customs Data (ASYCUDA) programme, a major technical cooperation project run by UN Trade and Development across over 100 countries. The collaboration has received top-level political support, which is crucial for its success and sustainability.
Parliamentary Committee: We intend to amend 10 economic laws to facilitate trade and customs procedures, 30 AUGUST
Parliamentary Committee: We intend to amend 10 economic laws to facilitate trade and customs procedures
The Parliamentary Economic Committee announced today, Thursday, the existence of a project to amend about 10 economic laws, explaining that the goal is to enhance trade, facilitate customs and tax procedures, support the public and private sectors, and develop a real map for economic reform.
Committee member Yasser Al-Hussaini said, “There is a new project that includes amendments to approximately 10 economic laws,” indicating that “the proposed amendments came after holding intensive workshops with the Businessmen’s Union and the Iraqi Businessmen’s Council, in addition to representatives from various economic sectors.”
He explained that "these workshops aimed to absorb all visions and requirements from various economic sectors, including commercial and industrial sectors, in order to develop a comprehensive vision that achieves the required reform."
Al-Hussaini pointed out that "the proposed project includes amendments to 10 laws aimed at enhancing trade, facilitating customs and tax procedures, and supporting the public and private sectors."
The MP stressed that "the proposed percentage of amendments is still less than the desired level of comprehensive economic reform."
He explained that "the committee hopes to expand the scope of the amendments to include more economic laws, reflecting the true vision of economic reform, which is not limited to meeting the requirements of the government or the private sector, but aims to develop a comprehensive vision that achieves the interests of all."
He explained that "the law was read for the first time, and the second reading is scheduled to take place after the final vision matures through the ongoing workshops, after which the committee's report will be submitted and the law will be voted on."
He pointed out that "this approach aims to draw a real roadmap for the long-awaited economic reform, and to ensure its compatibility with all the aspirations of the concerned parties, whether at the government or private sector level." link
LAST POSTS FROM MAJEED, 28 NOV
MAJEED yesterday the council of minister passed the law of adjusting the salaries That Law is No 22. 2008 And guess what? It was in th...
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...