What else is in the news? BY MNT GOAT, 9 NOV

What else is in the news?

😊I want to bring your attention to an article titled “ICC CREATES IRAQ ARBITRATION CMTE TO BOOST FOREIGN INVESTMENT”. I quote from the article- “The International Chamber of Commerce (ICC) in Iraq has reportedly established a local arbitration committee, aimed at minimizing financial losses from external arbitration and attracting foreign investors.” This action is just yet another link in the series of events that tell us Iraq is going international all the way. If companies are going to function in Iraq there must be a means to settle disputes besides going to the federal courts. Arbitration opportunities first is always a good option and can save companies a ton of money from going to international courts for disputes. Did the WTO want this too. You can bet they did! 😊

😊Where the hell is Azerbaijan? What happened with the Azerbaijan currency?

I want to point out this currency revaluation that happened in 2006 and passed everyone right by… Let’s take a look what happened and how you missed it and why. The title to the recent article today is “AL-ALAQ STRESSES TO AZERBAIJANI AMBASSADOR THE IMPORTANCE OF COOPERATION IN TRANSFERRING MONEY TO FACILITATE TRADE BETWEEN THE TWO COUNTRIES”.

You might want to go read the short article. Oh… boy, oh boy it is such an important article. Important not so much because for our Iraqi dinar investment but more important for understanding how this currency market actually works.

I quote from the article: “The Governor of the Central Bank if Iraq, Ali Al-Alaq, stressed today, Wednesday, the importance of cooperation in terms of exchanging expertise and the process of transferring money to facilitate trade between Iraq and Azerbaijan.” Yes, trading partners with yet another country with a currency worth something 1 AZM = 0.59 USD. That almost 60 cents. What the IQD worth 1/6 of a penny? Can you see the cumbersome monetary exchange process between the two countries in converting?

Also the author “pointing out the importance of cooperation at the level of exchanging expertise and the process of transferring money to facilitate trade between the two countries.”

You should know that when Azerbaijan gained independence from the Soviet Union, it substituted the Soviet ruble with the manat, which also went through a period of high inflation in the first years, rendering the coinage obsolete. Didn’t this happen to Iraq too?

The current manat symbol AZM in circulation exists since the redenomination in 2006, when old manats were substituted with lower face values and new design. The currency has mostly been pegged to the US dollar, at what is now the rate of ₼1.70 to US$1 or today 1 AZN = 0.59 USD. Okay so what’s Mnt Goat’s point?

My point in explaining all this to you today and from the article is this: First, do you see how the country of Azerbaijan’s currency evolved over time? Yes, they too went through a redenomination from hyperinflation due to politics.

Second, do you see how it took time for the rate for the AZM to settle down and to be what it is today, the nominal steady rate.  

What are the common elements of the AZM RV compared to the IQD RV?

1.Had to de-ruble their economy first, when changing over to the manat.

2.Issuing of the newer lower denominations.

3.First went through a period of higher inflation, once changed over to the manat and de-rubled.

4.The country needed a new face and design on their currency when it gained its independence.

5.The new AZM then had to be stated back on FOREX

Does all this sound familiar to you? Oh.. boy can you see now the process of Dr Shababi with the IQD is nothing new? Its’ the ‘PROCESS”, yes the process of what they usually do to come back with a viable currency. We need to watch the process carefully not some bank stories, bank memos or rumors of exchange centers opening, etc., etc. Get it?

Do you see commonality here to what happened in Iraq? These are the most common elements of these currency revaluations and the processes that go on along with them. Remember a previous article told us that 60 countries went through this process, just like this. So why didn’t you hear about some of these other countries on the news? The fact is you won’t and you wouldn’t even heard about the manat either had it not been for following the Iraqi dinar and this article from Iraq. But Azerbaijan’s currency revaluation is all over now, or is it?

If someone played their cards right in the recent past someone could have made millions off the changeover from the Soviet ruble to the manat. Do you see it now? Okay, so let me explain yet further.

So, this stuff happens in the currency market all the time only you have to follow the politics along with the economics of the country, to see it. Get it? My advice is PAY ATTENTION yourself. I am not telling you what to invest in only my personal beliefs. Get it? Don’t be funneled by some idiot intel guru or anyone else. Learn how to do your own research. If you have half a brain and desire you can do it.This is why I keep telling you that you can’t separate politics from economics. You can get all this kind of information from the IMF and World Bank internet sites. Its all there.

Oh… but this guy TNT Tony and others entirely missed the boat on this one just slipped by them. They missed it because someone in the background is distracting them from paying attention to these other currencies. Get it? They are playing mind games with you investors. They are funneling you to only a small group of currencies. They don’t want to have you making millions from these others and knowing the FACTS about what happens in these other countries. But it’s all public information and out there for the taking. Yes, they created this concept of this stupid global currency reset and the real reset is happening already right in front of your noses only many of you can’t see it because they dwell so much on the dinar as a hinge pin and these this “first basket” of currencies they wait for it. Yes wait on the sidelines for, meanwhile all these other currencies have also been revalued and just passed you by….yes, bye bye! ☹

Lesson learned- I keep telling you not to listen to these intel gurus! When they keep pushing something on you then the red flag should appear. Something is strange. There is another reason why they push it so much. Use your brain. You can think for ourself can’t you?

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

MAJEED : find out the secondary market of Forex USD/IQD which is (1 IQD = $3.88) ‪@DINARREVALUATION‬

 

A series of recommendations from the Sudanese to reform the financial and banking system in Iraq, 9 NOV

 A series of recommendations from the Sudanese to reform the financial and banking system in Iraq

Economy News – Baghdad

Prime Minister Mohammed Shia Al-Sudani issued on Friday a number of recommendations to reform the financial and banking system in Iraq.

The Information Office of the Prime Minister said in a statement received by “Economy News” that “as part of efforts to reform the financial and banking system, as one of the priorities of the government program, the Sudanese directed to take a number of steps in this regard:

1. Increasing the number of banking branches in the governorates to meet the needs of the local population, and in a way that contributes to expanding the scope of financial services, while paying attention to buildings, their modernity and providing their basic requirements.

2. All banks in the governorates must adopt modern technologies such as online banking services and mobile applications, making it easier for citizens to access their banking services easily.

3. Emphasizing on banks the importance of developing their financial services commensurate with the needs of individuals and small companies, such as soft loans and savings accounts.

4. Enhancing financial inclusion in the governorates by providing banking services to different categories of society, including districts and areas in villages and rural areas.

5. Launching conferences and awareness campaigns in the governorates, to educate citizens about the importance of dealing with banks and how to manage and invest funds properly.

6. Organizing workshops to train young entrepreneurs and local businessmen on how to deal with loans and financial services.

The statement explained, “The Ministry of Finance, the Central Bank of Iraq, and the associations of Iraqi private and Islamic banks will coordinate with the governors’ offices to complete the above tasks according to jurisdiction and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s Office on the progress of work regarding the steps mentioned above.”

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Added 2024/11/08 – 1:24 PM

https://economy-news.net/content.php?id=49622

STATUS OF THE RV BY MNT GOAT, 9 NOV

STATUS OF THE RV

Everyone should be VERY excited in the aftermath of the U.S. elections. I can’t help but be reminded of the song “The Wicked Witch is Dead” from the classic movie The Wizard of Oz. All of my wonderful readers who voted in this election. Did you vote based on the issues or on personality or maybe just because you felt obligated to vote straight party line ticket? I certainly hope its not the later. 

Today is Thursday and here we sit with no RV and once again many of these intel gurus told everyone it was supposed to RV yesterday, Wednesday. Oh yes, their such great contacts told them so….. lol.. lol.. ☹ Folks, I just can’t believe the stupid stuff I am hearing. It all makes my head spin. Yes, sometimes mien hubby and I pour a nice glass of wine and sit and listen to these intel calls. We laugh and laugh at how stupid.

So, let’s Chattanooga Choo Choo our Choo-Choo home!

I want to get right into my conversation I had yesterday, Wednesday, with my CBI contact. Of course, my main questions were based around where do we go from here, now that the US elections are over? The response to my questions boils down to the negotiating that Iraq will do with the new administration as the future Trump cabinet is being named. 

My contact told me not to expect any move forward with the Project to Delete the Zeros until this new administration signals, they will “fully” support it and the “process” and move to the end of the process, which is, as we all know, the reinstatement. Remember we don’t go to the bank until the reinstatement back on FOREX occurs, the end of the process. Then the new rate also has to coincide with a rate of the dinar we are willing to exchange for.

My contact also told me there is a planned meeting next week with the director Al Al-Alaq to review the status of the committee work and plan out the next phase of the project to delete the zeros. I asked “next phase”? Please explain, I said?  I was told that the CBI will no longer be supporting the currency auctions come the end of the year. I already knew this. But this was the best part when she told me they are now working on many more foreign banks besides the already arranged four (4) U.S. banks that are going to also come into process of supporting the international conversion of dinar to dollars on payment of imports to Iraq. Folks this was music to my ears when I heard this news. Why would these other banks want to exchange dinars if they were not going to be worth something and globally traded? We already reviewed why in one of my recent Newsletters. At that time, I told you just what I was told by my CBI contact back then. But now there are more banks coming onboard.   

This news was VERY good news for all of us. It tells us there is going be some huge change in policy of currency exchange for international trade with Iraq. Think about it, why else would the CBI make such a drastic change in policy with the currency auctions if the US didn’t tell them to “ditch the dollar” and do it now. Why is the US Treasury working so hard and even occupying an entire floor of the CBI if not to help them ditch the dollar.

But in order to do it Iraq needed the reforms as I described in the “Pillars of Financial Reform”. Remember according to the Obama plan reforms come first, then they can rebuild their economy and somewhere in the new economy building phase, they strike out and delete the zeros and reinstate. Didn’t we just read this in a recent article in my Nov 5th Newsletter? So, come the end of 2024 don’t you think these reforms will be ‘good enough” to let the dinar finally get to FOREX? I was told t his is their target. We are now hearing mostly about the economy and rebuilding it. Seems the news from Iraq changed over from talking mostly about the banking and stock market reforms to rebuilding the economy. Yes, it seems it’s now all about the economy.

Remember, and I keep asking you to remember, that the RV is really a byproduct of the process, get it? It all about the process. I believe they no longer have a choice. To ditch the dollar, they will have to get rid of the currency auctions and do business of foreign trade just like any other country. Remember that the currency auctions were imposed upon Iraq as part of the fix to help Iraq survive while under the Chapter VII sanctions. Those sanctions have been over since Dec 2022. I know you are tired of hearing all this from me…. lol.. lol.. but it is almost 2 years since. 

To sum it all up – To me I see what is happening in Iraq as a final “cleanup” from the sanctioned days and war years. Kind of like the final rinse in the washing machine before the clothes come out clean. They are getting back on their feet, they are getting clean of corruption. Remember that under Saddam Huissen, there was massive corruption too only we never knew about it then. The concentration now it mostly on using the banking sector successes and new laws to rebuild economy. Yes, the groundwork or foundation has been laid out. 

In the coming years, you will see Iraq as a major tourist destination and people will flock from around the world to see their museum treasures. I may even return there someday myself and remember my military time. It would also be nice to perhaps have dinner with my CBI contact in person. Maybe I will get a tour of the new CBI building… lol.. lol.. lol.. ?

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

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

 

Sudanese and Trump agree to coordinate to stop the region’s wars and meet in the near future, 9 NOV

 Sudanese and Trump agree to coordinate to stop the region’s wars and meet in the near future

 Prime Minister Mohammed Shia Al-Sudani, on Friday, conducted a telephone call with US President-elect Donald Trump, expressing congratulations to the President and the American people on the occasion of winning the elections, and the great trust given to him by the American people.

The two sides also stressed, according to a statement from the Prime Minister’s Office, a copy of which {Euphrates News} received: “The desire to pursue the strategic partnership between the two countries, and strengthen bilateral relations in ways that exceed the security aspect, through close cooperation in the fields of economy, money, energy and technology.”

The Prime Minister pointed out that “he was aware of Trump’s words and promises, during the election campaign, including his commitment to end the wars in the region, and the two sides agreed to coordinate together to achieve this.”

For his part, the US president-elect expressed the desire to work positively with the Prime Minister, and to meet in the near future to discuss expanding relations between Iraq and the United States of America, and to work on these common files.

https://alforatnews.iq/news/السوداني-وترامب-يتفقان-على-التنسيق-لإيقاف-حروب-المنطقة-واللقاء-في-القريب-العاجل

EXCERPTS FROM MNT GOAT, 9 NOV

 EXCEPTS FROM MNT GOAT

My contact told me not to expect any move forward with the Project to Delete the Zeros until this new administration signals, they will “fully” support it and the “process” and move to the end of the process, which is, as we all know, the reinstatement. 

Remember we don’t go to the bank until the reinstatement back on FOREX occurs, the end of the process. Then the new rate also has to coincide with a rate of the dinar we are willing to exchange for.

My contact also told me there is a planned meeting next week with the director Al Al-Alaq to review the status of the committee work and plan out the next phase of the project to delete the zeros. I asked “next phase”? Please explain, I said?  I was told that the CBI will no longer be supporting the currency auctions come the end of the year.

 I already knew this. But this was the best part when she told me they are now working on many more foreign banks besides the already arranged four (4) U.S. banks that are going to also come into process of supporting the international conversion of dinar to dollars on payment of imports to Iraq. Folks this was music to my ears when I heard this news.

 Why would these other banks want to exchange dinars if they were not going to be worth something and globally traded? We already reviewed why in one of my recent Newsletters. At that time, I told you just what I was told by my CBI contact back then. But now there are more banks coming onboard.