FIREFLY: THE RELATION BETWEEN IRAQ & USA WILL BE JUST ECONOMIC AND THE IRAQI BANK ARE INTERNATIONAL

 

MR. SISTANI SETS A ROADMAP FOR IRAQ’S PROSPERITY, 6 NOV

 MR. SISTANI SETS A ROADMAP FOR IRAQ’S PROSPERITY

Yesterday, Monday, the Iraqis (citizens, officials, politicians) welcomed and rejoiced at the recommendations of the supreme religious authority, Sayyid Ali al-Sistani, regarding the country’s situation, because they were issued by this blessed old man, the man of peace and the safety valve.

Yes, every word he said was under the microscope of analysis and focus, to the point that most political forces described it as a roadmap or a document of principles.

Yesterday, Sayyid al-Sistani received the Representative of the Secretary-General of the United Nations and Head of its mission in Iraq (UNAMI), Muhammad al-Hassan, and his accompanying delegation.

Al-Hassan provided the supreme authority with a brief explanation of the tasks of the international mission and the role it seeks to play in the coming period. In return, Sayyid al-Sistani welcomed the presence of the United Nations in Iraq and wished its mission success in carrying out its tasks.
According to a statement issued by his office received by Al-Sabah, he pointed to the major challenges facing Iraq at the present time, and what its people are suffering on more than one level.

He said: “Iraqis – especially the conscious elites – should learn from the experiences they have gone through and do their utmost to overcome their failures and work hard to achieve a better future for their country in which everyone enjoys security, stability, progress and prosperity,” stressing that “this cannot be achieved without preparing scientific and practical plans to manage the country based on the principle of competence and integrity in assuming positions of responsibility, preventing foreign interventions in all their forms, enforcing the rule of law, restricting weapons to the state, and combating corruption at all levels. However, it seems that Iraqis have a long way to go before they achieve this, may God help them.”

Regarding the volatile situations in the region, the Grand Ayatollah Sistani expressed his “deep sorrow over the ongoing tragedy in Lebanon and Gaza and his deep regret over the inability of the international community and its institutions to impose effective solutions to stop it or at the very least to neutralize civilians from the tragedies of the fierce aggression practiced by the Israeli entity.”

Several political forces announced yesterday, Monday, their support for the directives of Sayyid al-Sistani, calling for their adoption as a document of principles.

TIDBIT FROM MNT GOAT, 6 NOV

 Mnt Goat 

 ...when you go to the bank to exchange the US Treasury is going to fund the initial exchange for the bank. It is all electronic...The US Treasury will own then own dinar. These banks will then turn a profit with the US Treasury for being the broker in the exchange.

 It will benefit them to collect as much of the 3 zero notes as possible...

The US Treasury will keep a certain amount of the three zero notes for inter-banking and global trade with Iraq... Iraq has already guaranteed oil credits at so much a barrel...

The US Treasury fully intends to also sell these oil credits at a profit margin to other countries needing the Iraq oil.

 I have asked my CBI contact multiple times on the fixed credit rate and I got varied amounts from $30 – 35 a barrel. So, it is not like Iraq has to shell out trillions back to the US to cover the cost of the funds for the exchanges...

TEXAS SNAKE: "An announcement will be made shortly after Tues. results" @DINARREVALUATION

 

THE GOVERNMENT IS HELPLESS.. THE DOLLAR CONTINUES TO DESTABILIZE THE ECONOMY IN IRAQ, 6 NOV

 THE GOVERNMENT IS HELPLESS.. THE DOLLAR CONTINUES TO DESTABILIZE THE ECONOMY IN IRAQ

The dinar exchange rate crisis against the dollar has been ongoing in Iraq since late last year, and has been witnessing fluctuations despite measures taken by the country’s central bank to stabilize the currency.

It is worth noting that the fluctuation of the dollar exchange rate negatively affects the economic reality of Iraq in the first place, but there are those who exploit this issue for personal interests, such as currency smuggling traders and price speculators.

Regarding this matter, the economic expert Qasim Balshan says that the discrepancy in the dollar exchange rates is a door to corruption, given that there are private banks and companies that deal with the Central Bank of Iraq, and not everyone has the right to buy the currency auction.

Balshan said in an interview with Al-Maalouma Agency, “The state did not take real, actual measures to protect the Iraqi dinar, and all that was circulated were media statements that have no benefit on the ground.”

He pointed out that “there are influential political figures and blocs behind the rise in the dollar exchange rate.” Over the past years, the United States of America has prevented Iraq from achieving economic stability to achieve its strategic interests through its foreign policy and imposing sanctions and restrictions on financial transactions. 

In this context, State of Law MP Firas Al-Maslamawi says that the US Federal Reserve is besieging Iraqi liquidity through the dollar. 

Al-Maslamawi said in an interview with Al-Maalouma Agency, “The means of delivering the dollar and its restriction by the Federal Bank cast a shadow over the creation of liquidity in the Ministry of Finance,” noting that “the external liquidity file requires a high-level government effort in order to solve this issue and increase the quantities of dollars flowing into Iraq.”

Due to global sanctions, Iraq is forced to rely on the dollar for global trade, making its economy vulnerable to exchange rate fluctuations and US policy measures. 

FIREFLY: "THE IRAQI DINAR WILL GO ON FOREX SOON" , 6 NOV

  Frank26  

 [Iraq boots-on-the-ground report]

  FIREFLY: Some new financial guru here saying the new hybrid monetary plan will bring more alliance on the dinar instead of the dollar restrictions. 

 Saying it will make the dinar a base currency and a base currency is the main currency in a group of currencies that are traded in the international Forex...

He's saying they are going on Forex soon. 

 FRANK:  When they talk to you about a base currency, they are trying to tell you your nation will become a financial central hub with many currencies coming in from around the world that will play an important part in the international float of the Iraqi dinar in order to reach the real effective exchange rate.  Forex is but one example of how they will do this.  

REINALDO JC: "The dinar will return to the glory days" @DINARREVALUATION