Article: "What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher"
Quote: "Economist Mahmoud Dagher pointed out that deleting zeros will not change...the purchasing power of the dinar...Instead of carrying a bundle of 50,000 dinar notes, it will be possible to compress them into a smaller number of notes after removing the zeros, and this will not change their purchasing power.
The amount of money on offer...is equal to 105 trillion dinars, and after removing the zeros, the amount will be 105 billion dinars, which is exactly the same amount, and the exchange rate will change from 1320 dinars per dollar to 132 dinars per dollar."
Iraqi forces decide to keep out of Israel’s battles with Hezbollah and Iran
Officials and paramilitary commanders say Israeli attacks could be ruinous for Iraq and even topple its government
The Iraqi political and armed forces affiliated to Tehran have decided to distance themselves from Israel’s battles with Hezbollah and Iran, fearing that expanding the growing Middle Eastern wars could ruin Iraq and their own positions.
Iraqi officials and leaders of Iranian-backed armed factions told Middle East Eye that the focus instead will be on providing humanitarian aid and financial support to civilians affected by Israel’s war on Lebanon.
No US interests or military bases in Iraq or Syria will be targeted by Iraqi armed factions until further notice, commanders said.
Over the past year, Israel’s onslaught on Gaza has drawn reprisals from Hezbollah in
Lebanon, Yemen’s Ansar Allah (commonly known as the Houthi movement), and Iraqi paramilitary groups.
Meanwhile, Israel has begun waging war on Lebanon. It has also killed Hezbollah’s leader, Hassan Nasrallah, and assassinated Ismail Haniyeh, Hamas’ political leader, in Tehran.
In response, Iran rained ballistic missiles on Israel on Tuesday, causing significant damage to Israeli military bases.
The escalation has raised the prospect of further Iraqi participation, whether through Iraq’s regular military or its multitude of paramilitary groups.
However, Iraqi officials say there is a belief that this would lead to the collapse of Iraq’s political, economic and military system and the fall of its government.
Sudani seeks calm
Over recent days, Iraqi Prime Minister Mohammed Shia al-Sudani has held dozens of meetings with political leaders, commanders of armed factions allied with Iran and the top brass of Iraq’s security services.
According to one of Sudani’s advisers, the prime minister sought to “explain the reality of the situation facing Iraq and the consequences of any Iraqi party getting involved in the ongoing conflict”.
He also met with various Arab and western diplomats, and spoke to several neighbouring leaders, including the Egyptian president, Qatar’s emir and the king of Jordan.
Sudani pressed them to help “stop the ongoing Zionist aggression on Lebanon and Gaza, which threatens to expand the conflict throughout the region", his adviser said.
Iraqi officials and commanders of armed factions told MEE they believe Iraq will be one of four countries that Israel will strike soon, in response to the Iranian missile attack.
'Sudani has been striving to deprive the Israelis of any pretext that could be used to strike Iraq'
- Adviser to the prime minister
A succession of dramatic and ruthless Israeli attacks on Lebanon and Hezbollah over the past two weeks have been met joyously by Israel’s leadership and public.
Yet, Sudani’s adviser noted, “the Iranian missiles have dispelled their euphoria”.
“This means that it will definitely respond to this attack. Israel will inevitably attack Iraq, as it will attack Syria and Yemen, in addition to some oil facilities in Iran,” he said.
"Sudani has been striving to deprive the Israelis of any pretext that could be used to strike Iraq,” the adviser added.
"Iraq's political, security and economic situation is fragile and will not endure any party's adventure. Any ill-considered action in the coming days will have a high price and could burn everything."
Potential targets
Sources in the armed factions and security services predict Israel could hit several targets, including the headquarters of the Popular Mobilisation Forces (PMF), a governmental umbrella organisation that oversees various paramilitaries, including those close to Iran.
Last week, rumours were rife in political and media circles that Israel had drawn up a list of 35 targets in Iraq, including the locations and names of political leaders and the heads of armed factions.
Yet paramilitary commanders and security officials insisted to MEE there is no indication that such a list exists.
“Its targets in Iraq are known and clear. It will attack the camps of some armed factions, as well as the camps and headquarters of the Popular Mobilisation Forces, and may target some commanders of the armed factions,” a senior PMF official told MEE.
“The only two figures who are actually targeted are Akram al-Kaabi, the commander of Harakat Hezbollah al-Nujaba, and Abu Hussein al-Muhammadawi, the commander of Kataeb Hezbollah,” the official said.
The official noted that the leaders of other Iranian-linked armed factions have traded their military roles for more political and economic ones, and no longer have any real influence on the armed resistance to Israel.
“The Israelis and Americans know this and are well aware of it, and have no interest in targeting them,” he said.
On Tuesday evening, immediately after the Iranian missile attack ended, the anti-Israel Iraqi paramilitaries that make up the “Islamic Resistance” issued a joint statement. They said they would not target US interests and military bases in Iraq unless Washington helps Israel attack Iran, or if Iraq’s airspace is used for Israeli bombing raids.
“Then all American bases and interests in Iraq and the region will be our target,” the statement said.
“All parties agreed to stop any military operations at this stage, but if Israel strikes any of them, everyone will respond at once,” a Harakat Hezbollah al-Nujaba commander told MEE.
"American and Israeli interests in Iraq and the region will all be targeted."
Precautionary measures
Sudani has put all Iraqi military forces on high alert since Tuesday evening. Most armed faction commanders have not appeared in public since then.
Meanwhile, a meeting was convened by the Popular Mobilisation Forces' leadership on Monday to discuss the latest developments and ways to secure its offices and forces, commanders told MEE.
According to one person present at the meeting, they all agreed to avoid engaging in the escalating regional conflict, including attacking US forces in Iraq, which they had done repeatedly before the beginning of this war.
They also decided to reduce the number of paramilitary troops at their headquarters and inform commanders to avoid being there, too.
The PMF leadership agreed to send all commanders strict instructions that all the fighters registered with the organisation should not be involved in the regional conflict in any way.
“If they decide to engage in the battle, they should not use their fighters registered on the Popular Mobilisation’s payroll, or its vehicles or equipment,” said the source at the meeting.
One senior commander, who was also at the meeting, described the situation as “very critical” and said “any mistake, we will all pay the price for”.
“We are targeted. Our troops’ locations, headquarters and weapons warehouses are exposed and known, so there is no room for any uncounted action,” he said.
“It is easy. We are regular troops, so our choice is the government’s choice. It is that simple.” link
I have never been accused of being soft spoken...Taxes: ...There are rich people and there are poor people. The difference is that the poor pay taxes all their life and the rich pay little to no taxes.
The Tax Code (IRC) is written for both. You DO NOT have to pay out one third to one half your exchange funds in taxes.
You can use a Charitable Remainder Uni-Trust and pay only 10% in taxes and those taxes are deferred for 20 years if you wish.
Find an Asset Protection organization or attorney...It [The CRUT} is a two page document and gives you the legal right to pay ZERO capital gains taxes...and you can buy and sell using the Trust...This is perfect for real estate but can be used for an unlimited number of purposes..
Next, you do not need an army or "Team" to help you handle your money. You need only find a reputable asset protection firm or attorney...Doing it this way eliminates wealth managers, lawyers, CPA's, investment councilors, etc. The asset professional will usually have an in-house CPA...What exactly are you doing anyway? You are eliminating all three wealth killers.
Those are Lawsuits, Taxes, and Estate Planning...You will...pay minimum taxes, and mitigate Taxes, Lawsuits, and Estate Planning. This...will insure that you get wealthy, stay wealthy, and pass your wealth on to your heirs without probate, estate taxes, death taxes, or capital gains taxes.
I would like to assure the Dinar investor community of a couple of things. There comes a time when common sense and logic must prevail.
There will be NO travel necessary to exchange your Dinar for American dollars (USD). You will not have to go to Jordan, Egypt, or Syria. There will be NO $0.10 revaluation.
It was already at the rate of $3.22 to 1 Dinar when the only resource was oil. Dr. Shabibi, the preeminent expert, stated publicly, that Iraq could sustain an $16 to 1 Dinar rate but let's not get greedy. $4.80 is just about right.
Stay tuned because I will have a mind bender coming for you next time and it will really make you think.
--
Fnu Lnu
Exchange Centers are off premises bank facilities to prevent excess traffic at bank branches. It is illegal to have different rates at different places. Remember the Law of One Price.
Fnu Lnu
I do not buy this "Education Program" nor do I buy the "Adjusting of the Parallel Market". The education is taking too long to be effective and it isn't government's job to adjust black markets. These are stall tactics while they placate the masses. But why?...
When you drag out the "Education" as long as the GOI and CBI has been doing, nothing sticks. If it is not in practice, then it is just words from the mouths of bureaucrats. Iraq has had more than enough of that and they do not pay attention.
They will become educated when it means something to them, like the cost of goods and services, and buying power, and velocity of money. This is all obfuscation and I don't believe a word of it. Logic tells me they are stalling the people.
The $64,000.00 dollar question is why? What's the real plan?
Shafaq News/ The Association of Currency Exchange Companies in Mosul on Saturday called on Iraqi authorities and the Central Bank to allow firms in Nineveh to access the central bank's dollar auction, enabling them to buy US dollars at the official exchange rate.
Abdullah Khalil, head of the association, told Shafaq News Agency that the exclusion of Nineveh’s exchange companies from the auction has strained the local economy.
"The ongoing denial of access to the dollar auction has deprived Nineveh of obtaining dollars at the Central Bank’s rate, negatively impacting the economic situation," Khalil said.
Khalil noted that, despite fulfilling all of the central bank’s requirements over a year ago, currency firms in the governorate have not yet been granted the necessary code to participate in the auction.
He said Mosul traders are forced to buy goods from Baghdad rather than importing them directly, due to their inability to access US dollars at the official rate of 1,300 dinars per dollar. He added that the lack of access to dollar-based transfers has also forced residents to conduct transactions through other governorates.
Khalil urged the Iraqi authorities to grant Nineveh’s firms equal access to the dollar auction, similar to other provinces, to help stabilize the local economy.
"His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received the Ambassador of the Republic of Turkey to Iraq, His Excellency Mr. Anil Bora Inan, with a delegation of representatives of Turkish banks operating in Iraq."
The meeting had two purposes: The use of international audit firms between banking systems in trade between Iraq and Turkey and external transfers between their Banks.
Audit firms are important in the regulatory auditing of banks and securities firms. They assess compliance with regulatory requirements and consider the risks that supervised institutions face. Bank auditors also verify income recognition, assetclassification, and capital adequacy. They evaluate the effectiveness of internal controls, risk management, and corporate governance.
And finally, external transfers, also known as a bank-to-bank transfers, is a way to move money from one bank account to another.
Did you notice Asset Classification and Bank to Bank movement of money were mentioned in this article? We discussed these in previous articles as requirements needed for Iraq's movement of money.
