DINAR REVALUATION REPORT: Central Bank's Efforts to Strengthen the Iraqi Dinar Value in 2024, 11 SEPT

Central Bank's Efforts to Strengthen the Iraqi Dinar Value in 2024

In 2024, the Central Bank of Iraq (CBI) has embarked on a series of measures to bolster the value of the Iraqi dinar (IQD). 1 Recognizing the importance of a stable currency for economic growth and financial stability, the CBI's initiatives are part of a broader strategy to enhance the Iraqi economy and improve living standards.

Economic Rebound and Inflation Control

Following the fiscal expansion starting in 2023, the Iraqi economy has experienced a strong recovery in its non-oil sector. 1 This has been supported by domestic stability, improved conditions, and the implementation of Iraq’s first three-year budget. Inflation has also declined to 4 percent by the end of 2023, partly due to a currency revaluation in February 2023, as well as the normalization in trade finance. 1

Fiscal and External Challenges

However, the ongoing fiscal expansion has also led to imbalances, with concerns over the large fiscal expansion and lower oil prices. The CBI is aware that without policy adjustment, there is a high risk of medium-term sovereign debt stress and potential external stability risks.  1

Currency Issuance and Dollar Supply

The amount of dinars circulating outside banks has been increasing daily, reaching 93.1 trillion dinars by the end of December 2023. 2 This has raised questions about the value of dinars in the market, especially if oil prices remain unfavorable and do not support the dollar inflow that traditionally underpins the dinar issuance. 2

Controlling Dollar Usage

In an effort to eliminate the use of the US dollar in the local market, Iraq's measures have achieved relative success in controlling foreign currency. 3 The exchange rate of the dollar has been stabilized between 1,470 to 1,450 dinars per dollar, down from an unprecedented level of 1,700 dinars per dollar in 2023. 3

Coordination with the Finance Committee

The CBI has been in close coordination with the Finance Committee to enhance the value of the Iraqi dinar. 4 Discussions have focused on monetary policy, methods to increase the dinar's value, stabilizing the market, and addressing deficits. 4

Future Plans and International Standards

The CBI has also discussed future plans to improve banking institutions, expand relations with international banks, and restructure the banking sector.  4 Emphasis has been placed on transitioning towards electronic payments and the potential amendment of the Central Bank law to align with international standards. 4

Conclusion

The CBI's efforts to strengthen the Iraqi dinar in 2024 involve a multi-faceted approach, including fiscal policy adjustments, controlling the dollar supply, and aligning with international banking standards. These measures aim to create a stable and robust economy, enhancing the value of the dinar for the benefit of Iraq and its citizens.

LATEST FROM REINALDO JC, 11 SEPT

 REINALDO JC

Iraq is looking at this & saying holy sh*t, our economy depends on oil prices being !We will drown, not able to survive the economic collapse with those futures, amongst other things & will need to change the Dinar rate soon or sooner!!!

---

 Reynaldo JC

IRAQ 🇮🇶

🚨 IRAQ TELLS US TO THE FACE THAT THEY WILL PUSH THE TRIGGER TO INCREASE THE VALUE OF THE IRAQI DINAR! 

✅ GREEN LIGHT AND BLESSINGS FROM THE US FEDERAL RESERVE AND TREASURY!

The outcome of last week's meeting between the CBI and the US Treasury and Federal Reserve.

👇🏾

The Prime Minister's Advisor on Financial Affairs, Mazhar Mohammed Salih, confirmed on Wednesday that the renewed understanding with the US Federal Reserve WILL ALLOW the monetary authority to RE-ESTABLISH a domestic banking market, while indicating that the results of the discussions between The Central Bank and the Federal Reserve are GOOD and CONSISTENT with the working rules, noting that they WILL ALLOW the IMPLEMENTATION of a PRECISE path between IRAQI and INTERNATIONAL banks.

“Specifically large INTERNATIONAL banks interested in INTERNATIONAL banking operations that cross markets), and that an advanced model of understandings has been ACHIEVED at this stage.”

Salih highlighted that “this WILL ALLOW the IMPLEMENTATION of a CLEAR and ACCURATE path to facilitate payment and settlement operations between IRAQI banks and INTERNATIONAL correspondent banks, as well as the final beneficiary in the trade financing cycle in the areas of INTERNATIONAL trade and CURRENCIES that Iraq deals with by paying in different reserve currencies.”

TRANSLATION IN SPANISH

Reynaldo JC : Dice 

IRAQ 🇮🇶

🚨 ¡IRAQ NOS DICE EN LA CARA QUE APRETARÁN EL GATILLO PARA AUMENTAR EL VALOR DEL DINAR IRAQUÍ! 

✅ ¡LUZ VERDE Y BENDICIONES DE LA RESERVA FEDERAL Y EL TESORO DE EE. UU.!

El resultado de la reunión de la semana pasada entre el CBI y el Tesoro de EE. UU. y la Reserva Federal.

👇🏾

El asesor del Primer Ministro en Asuntos Financieros, Mazhar Mohammed Salih, confirmó el miércoles que el renovado entendimiento con la Reserva Federal de los Estados Unidos PERMITIRÁ a la autoridad monetaria RESTABLECER un mercado bancario interno, al tiempo que indicó que los resultados de las discusiones entre el Banco Central y la Reserva Federal son BUENOS y CONSISTENTES con las reglas de trabajo, señalando que PERMITIRÁN la IMPLEMENTACIÓN de una vía PRECISA entre IRAQUÍ y los bancos INTERNACIONALES.

“Específicamente los grandes bancos INTERNACIONALES interesados ​​en operaciones bancarias INTERNACIONALES que cruzan los mercados), y que se ha LOGRADO un modelo avanzado de entendimientos en esta etapa”.

Salih destacó que “esto PERMITIRÁ la IMPLEMENTACIÓN de una vía CLARA y PRECISA para acelerar las operaciones de pago y liquidación entre los bancos IRAQUÍES y los bancos corresponsales INTERNACIONALES, así como el beneficiario final en el ciclo de financiamiento comercial en las áreas de comercio INTERNACIONAL y DIVISAS con las que Irak trata pagando en diferentes monedas de reserva”.

https://dinarevaluation.blogspot.com/2024/09/iraq-wil-push-trigger-to-increase-value.html

Coffee with MarkZ and Andy Schectman. 09/11/2024

Coffee with MarkZ and Andy Schectman. 09/11/2024

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: 9/11 Remember what happened. What got halted, and let's restart the world.

Member: Never forget 9-11  !!!

Member: Happy humpday fellow hopium addicts

Member: Great day to all, we are one day closer to our GOD given blessings

MZ: They have not been paid yet on the bonds, but they have great expectations –but are not paid. They expected payment last Tuesday . the bond side is quiet

Member: IF I was a bondholder that had to travel- I’d be even more upset and frustrated that I am.

MZ: The group side –also quiet so far today….but my expected window opens today……(11th through the 15th. )

Member: Do you think we could see an RV before the election?

MZ: If we don’t- we may have many more problems we will be dealing with. 

MZ: From Iraq: “Iraq and Iran sign 14 Memorandums of understanding. (MOU’s) “In this article they are referring to the big ones.   What does this mean. It means they (Iraq?) are becoming a regional leader in the area. I think this one is important. 

MZ: “The tax authority announces the ratification of a joint agreement between Baghdad and Erbil on the unification of tax work”  This is important because the Erbil region has been dragging their feet on getting the HCL agreement finished.  I am told we are seeing the “end days” of that discussion. With a full blown agreement expected within days. I hope that is accurate. 

Member: So, HCL needs to be done and signed before RV ?

Member: Many say its important. Who knows?

Member: Mark, when do you truly think this RV will be done by?

Member: I keep saying that we will not exchange anything until the new USTN are out in circulation, or at least in the banks ready to be sent out.

Member: Unless Iraq is going alone this doesn't happen until the economy collapses-imo.

Member: market down 460 pts….Taking a big dive. 

Member: DOW -633 now

Member: WOW -- Dow down 700+

Member: How much down does the Dow have to go to be considered "a crash"? 

Member: DOW is circling the toilet and waiting for a FLUSH

Member: The Japanese Nikei stock market has been on a consistent downward spiral for over a week now.

Member: When the market crashes let’s hope the folks behind the scenes with the QFS are ready to jump right in with the new safe and transparent financial system …….scary times

Member: Our monetary system is about to change big time

Member: Prayers for all lost during 9-11… Prayers for all Dinarions who are suffering and frustrated. 

Member: Nothing, Nothing, Nothing….SUDDENLY.  Praying this is the week the “Suddenly” happens. 

Member: Hope all mods, visitors and Mark have a great day today . 

Andy Schectman from Miles Franklin joins the stream today. Please listen to the replay for his information and opinions. 

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

JUDY NOTES, 11 SEPT

 Judy Note: What we think we know as of Tues. 10 Sept. 2024:

• All US banks have been purchased by the new US Republic Treasury, which has been relocated from Washington DC to the Sparks Indian Colony near Reno, Nevada.

• On Wed. 10 July 2024 Trump signed a new law which zeroed out all mortgage, credit card or other debt to banks due to their i*****l activities.

• As of Aug. 2024 it is i*****l for banks to foreclose on home mortgages.

• Activation of the NESARA Law restores homes and property ownership due to bank foreclosures.

• The NESARA Law allows all pricing of homes, cars and merchandise to return to 1955 pricing.

• All credit reporting agencies have been dismantled.

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.