STATUS OF THE RV, PART. 2, BY MNT GOAT, 11 SEPT

 If you just look at the major headlines in the news from Iraq in today’s Newsletter, you can clearly see this “Electronic Payment” process is the most important banking reform they must now institute to some extent. We just don’t when enough is enough. But we will continue to read the headlines and eventually it will pop out in the news. It always does. I did not say this is the most important, but it is now at the forefront of the effort. Get it. With the news today how can you possibly think otherwise. We might even say it is the LAST piece to put in place in the RV puzzle to clearly see the end to this RV saga. This is why I was so excited in my last Newsletter of 9/5 and so I am even more excited today. 

Here are some of the headlines. You can go read the full articles in today’s Articles Section of the Newsletter. WOW! WOW! Five (5) articles on this topic. Really? Yes, really! 😊

“IRAQ TO FULLY ADOPT ELECTRONIC PAYMENTS TO CURB CORRUPTION”

“PARLIAMENT ASKS FINANCE AND CENTRAL BANK TO SET TIMETABLE FOR TRANSITION TO ELECTRONIC PAYMENT BY END OF 2024”

“AL-SUDANI, THE PRIME MINISTER OF IRAQ, ISSUES A NUMBER OF DIRECTIVES WITHIN THE FRAMEWORK OF DEVELOPING ELECTRONIC PAYMENT SYSTEMS”

“INCLUDING THE GROWTH OF BANKING LIQUIDITY.. A GOVERNMENT ADVISOR REVEALS 3 GOALS FOR ELECTRONIC PAYMENT”

“BARZANI TO AL-ALAQ: THE NUMBER OF REGISTERED INDIVIDUALS IN THE “MY ACCOUNT” BANKING PROJECT HAS EXCEEDED HALF A MILLION”

Knowing all this, I just want to ask a few questions:

• Do you think the implementation of the Electronic Signature and Electronic Transactions Law No. 78 of 2012 is important to fully implement prior to getting the RV and reinstatement? Just asking…. This is literally almost all they are talking about these days. YES, it’s important!!!!! of course it is. This was a rhetorical question. Read my lips…. “It’s important!” 😊 Let’s follow its implementation then and see where it gets us. Can they complete it by early 2025? There must be some plan to accelerate the process. Don’t you think?

• Do they need the Project to Delete the Zeros as their incentive to bring in the cash hoards/stashes into the banks? Can they do it without any incentive?

• What is the level of liquidity that they are looking for in the Iraqi banks to say this is finally successful? In other words how many millions of bank accounts do they need? All we can do is wait and see if they tell us.

I am going to give you a summary again of the other issues that are also on the table. They are on the near horizon and my CBI contact has also told me these are issues that also must be resolved. I hate to give these lists because it is what we don’t know that always come up later to haunt us. But anyhow here is the list as we know it today:

• Passing the Oil and Gas Law referendum, as required by their new 2005  Constitution.  

• Needed changes to The Investment Law No (13) of 2006 to meet the WTO requirements prior to full accession. We were told these change were already reviewed in parliament and then sent back to the cabinet for revisions. We wait.

• Institute the Pillars of Financial Reform in the Banking, Insurance and the Iraqi Stock Market. This goes hand in hand with the electronic banking effort.

No, the RV is NOT all done and I laugh every time I hear these intel gurus, especially this jerk TNT Tony and baaaa group of sheepie followers. What is your definition of “all done”. To me it means that Iraq is going forward with the Project to Delete the Zeros and actually in the process of doing it not just talking about it again. Get it? Do they really even have a clue what is going on in Iraq. 

I am getting a bit sick and tired of these idiot intel gurus who tell you they are just “passing on what they have been told”. This is their cop-out, their justification for being lazy and ignorant. They apply no common sense to the info from Iraq and act as brainless idiots. They do very little research and have idiots as contacts in Iraq (if they even actually do, because I think they just make it all up). They deserve their sheepie followers too, since they are two peas from the same pod. Yes, it seems some people thrive on lies, even though deep down after 10 years of bullshit with this every day or every weekend RV bullshit, they still want to hear more. It's like banging your head against the wall. When will you finally stop and admit you are wrong and that it HURTS?...TO BE CONTINUED

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

STATUS OF THE RV, PART. 1, BY MNT GOAT, 11 SEPT

 STATUS OF THE RV

Yes, It’s all about the bass no treble (I mean banks of course, no trouble… lol… lol… lol…😊 ) If I can sum up the news this period in three words it would be “Electronic Banking Practices“. So just how far ahead is Iraq in their electronic banking initiative? Yes, it’s all about electronic payments and the implementation of this process. What are we talking about then when we say “electronic payments” ? This process is a multi-process meaning: 

1.it effects the average citizen (getting a bank account and debit card), businesses (installing and using Point of Sale technology to accept card payments); 

2.foreign trade (ability to safely transfer funds to for import payments and receive export payments); 

3.customs and tariffs (track payments, and receive funds electronically) and;

4.the transfer of money inside and outside Iraq (Remember that if you are to grow the economy Iraq will need an influx of investors and these investors will want to “freely” flow their capital in and out of Iraq);

Now do you think that implementation of this process is an important process to get right before they pull the trigger on the Project to Delete the Zeros and then of course the Reinstatement? You think? 

One aspect that many also forget when studying this RV saga, is about also the sanctions put on Iran by the US Treasury and that they are a major concern of the US Treasury concern over the handling of the US Dollar by Iraq. But heck… you knew that already didn’t you? 

So far Iraq always has seemed to allude these sanctions somehow as they find new creative ways to circumvent the sanctions and launder money to Iran. Yes, billions and billions have flowed outside of Iraq to Iran illegally. But the worst part of this story is that the ones doing this are the mainstream politicians in Iraq. Just like in the US today as we see in Iraq they will do anything for money. But why are these sanctions imposed on Iran in the first place. 

These sanctions are two fold: One is to stop the course of building a nuclear bomb and the second is the consistent terrorism that country brings to the middle east and its hatred for the Jews and Israel. But of course you all knew this too, didn’t you? 

So with the presence of the US Treasury occupying an entire floor in the Central Bank of Iraq, do you think they are serious in ending this corruption with the US dollar? 

Excuse me….but if you eliminate the US dollar in Iraq as much as possible then how can the parallel black market even get the dollar to illegally funnel it to Iran? Do you see now the effort since January 2023 with the implementation of the new Electronic Platform for the Currency Auctions and its reasons for being put in place. Oh…put in place by whom? Yes, it was a software system build specifically by the US Treasury and put in place by them to control the dollar. But of course you all already knew this didn’t you? 

So, recently they have told us this electronic platform is going away at the end of 2024. They did not say the currency auctions are stopping. So please don’t confuse the two. One just facilitates honesty in the other. Get it? Yes, these intel gurus like to make things confusing and mess with your mind….

This corruption and money laundering is now all ending and has to end or we will not see any reinstatement. The instrument to do this is the Electronic Banking practices. I will not go into all the advantages of this effort and what it brings to the table for Iraq today. We already ready read many articles on it and so we all should be aware that it is the means to the end of stopping this corruption with Iran and this parallel market (black market US dollars). This I have been told many times by my CBI contact. Having the US Treasury inside of Iraq now helping with all these banking reforms is a VERY good thing not a negative issue. It is absolutely going to push the RV process for us. 

...TO BE CONTINUED

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 11 SEPT

 Frank26  

  [Iraq boots-on-the-ground report] 

 FIREFLY:A big delegation including Alaq...He went to Erbil for the economic meeting.  There was a closed meeting after the main meeting.  We expect it was mainly about the oil and gas HCL they have been talking to us about.  

 FRANK:  This is all monetary reform education. 

FIREFLY: Sudani...told us the upcoming year the mechanism would be fully engaged to give the citizens maximum benefit.  

FRANK:  He didn't say 'Next' year...I think he's talking about the year 2024...because the commercials should be next.  And if that's the case what they show you in those commercials has to be given to you very quickly.  There cannot be a gap between telling you and giving them to you.

How Iraq is Stabilizing the Dinar in 2024

LATEST FROM PIMPY, 11 SEPT

  Pimpy  

Article:  "The parallel market will be overturned.  Sources: Upcoming decisions from he central bank that will confuse the markets and raise exchange rate." 

 It's interesting they don't say which exchange rate...  

Quote:  "He stated the decisions are likely to raise the dollar exchange rate in the parallel market..."  When they say raise the dollar exchange rate, that's not good for us.  That means the dollar is rising up against the dinar...On the black market people are getting 1505 dinars for every $1.00... which is much higher than the 1320 for every dollar, the official exchange rate...

It's getting out of whack again.  As it gets harder and harder to get the US dollar, you're going to see the black market really start to increase.  I'm curious to see what kind of decisions the central bank is going to make...

PIMPY CC NOTES HIGHLIGHTS, 10 SEPT

 Summary

Iraq is undergoing economic reforms, particularly in the gas sector, while the Central Bank plans to adjust the exchange rate amid rising dollar values.

Highlights

• 🇮🇶 Iraq is implementing significant reforms in the gas sector.
• 💰 New investments aim to improve oil and gas infrastructure.
• 🔄 Central Bank decisions may raise the dollar exchange rate in the parallel market.
• 📈 Black market values are increasing, indicating currency scarcity.
• ⚖️ Discussions around lowering the dinar’s exchange rate continue.
• 🔍 Monitoring expectations around the Central Bank’s upcoming moves is crucial.
• 📊 Inflation concerns persist as foreign exchange markets fluctuate.

Key Insights

• 💡 Reform Potential: Iraq’s focus on gas investments reflects a strategic move to rectify past losses, enhancing economic stability.
• 🔧 Infrastructure Upgrades: Modernizing outdated oil and gas technology is essential for operational efficiency and attracting foreign investments.
• 📉 Exchange Rate Dynamics: The Central Bank’s potential adjustments could create volatility in the exchange rate, impacting investor sentiment.
• 📉 Parallel Market Growth: The increase in black market rates highlights the challenges the government faces in stabilizing the dinar against the dollar.
• 🤔 Economic Predictions: Speculation around whether the dinar will be devalued or strengthened reflects uncertainty in Iraq’s economic policy.
• 🏦 Central Bank Strategies: The Central Bank’s actions are critical to curbing currency smuggling and ensuring a balanced foreign exchange market.
• 🔍 Ongoing Monitoring: Investors should stay informed about Central Bank decisions and market trends to make sound investment choices.

https://dinarevaluation.blogspot.com/2024/09/pimpy-cc-notes-highlights-10-sept.html

DINAR REVALUATION REPORT: Impact of Iraq Central Bank's Foreign Exchange Decisions on Dollar Exchange Rates, 11 SEPT

 Impact of Iraq Central Bank's Foreign Exchange Decisions on Dollar Exchange Rates

In September 2024, the Central Bank of Iraq introduced new decisions on foreign exchange prices and the trading of foreign currencies within the country. 1 These decisions are expected to significantly influence the dollar exchange rates in the parallel market due to the anticipated scarcity of the US dollar. 1

De-Dollarisation and Economic Policy Shift

The strategic decision to shift away from the US dollar is a response to prolonged currency instability, leading to escalating prices and civil unrest over the past half-year. 1 This transformation raises questions about the future status of the US dollar as the leading global reserve currency and suggests a move towards a more balanced world economic order. 1

Consequences of Currency Issuance and Expenditure Increases

The issuance of Iraqi dinars, traditionally linked to the inflow of US dollars from oil sales, has reached unprecedented levels, with concerns about the value of all dinars in the market if oil prices remain low. 2 The fluctuation of the Iraqi dinar against the US dollar, exacerbated by US-Iraq relations and economic sanctions, highlights the significant impact of American statements on Iraq's economic situation. 2

Dollar Sales to Travelers and Market Disparity

In an effort to address the ongoing dollar crisis, the Central Bank of Iraq decided to allow state banks to sell US dollars to travelers at the official exchange rate in airports. 3 This move, however, is predicted to widen the gap between the parallel market exchange rate of the US dollar and the official rate set by the Central Bank.  3The potential for travelers to hoard a significant portion of the cash dollars could further escalate the disparity between the parallel and official dollar rates. 3

Conclusion

The Central Bank of Iraq's new decisions on foreign exchange prices and trading mechanisms are likely to have a profound effect on the dollar exchange rates in the parallel market. These measures, driven by economic policy shifts and the need to stabilize the Iraqi dinar, may lead to a scarcity of US dollars and increased disparity between official and parallel market exchange rates.

The dollar crisis. Changing exchange rates will create ‘many problems’ and smuggling driven by ‘deep state’ – urgent, 11 SEPT

Baghdad Today – Baghdad

The President of the Diyala Chamber of Commerce, Mohammed Al-Tamimi, confirmed on Tuesday, September 10, 2024, that changing exchange rates will create the problems of the deep state that manages state smuggling outside the borders of Iraq.

Al-Tamimi told Baghdad Today that “the capital market suffers from great challenges and is exposed to vibrations at any moment, especially since its control capabilities are limited in most axes, with the dollar smuggling remaining until the moment, which has become a lifeline for the names of destinations representing the deep state in the country in order to perpetuate its power.”

He added that “the recent rise in the parallel market came due to speculation and the publication of shadowy news in addition to the presence of names that control a large part of liquidity,” pointing out that “talk about the Central Bank’s resort to changing the dollar exchange rates is still speculation, and if what happens, it will lead to serious problems.”

He pointed out that “without adjusting the rhythm of smuggling, the difference between the official and parallel price will remain high,” stressing that “the price difference generates billions of dinars in the pockets of many parties and forces.”

It is noteworthy that a banking source reported on Monday (September 9, 2024) that confusion occurred within the foreign exchange markets, while their prices were likely to rise.

The source told Baghdad today that “the Central Bank will issue new decisions on foreign exchange prices and the way it is traded inside Iraq.”

He added that “these decisions are likely to raise the dollar exchange rates in the parallel market due to the scarcity of the currency.”

The source said that “the aim of these decisions is to reduce the smuggling of currency or its monopoly in the hands of the weak souls.”

Dollar exchange rates witnessed a new rise in the two main exchanges and domestic markets for the second day in a row.

https://baghdadtoday.news/257591-أزمة-الدولار.-تغيير-أسعار-الصرف-سيخلق-مشاكل-جمة-والتهريب-تقوده-دولة-عميقة-عاجل.html