DINAR REVALUATION

Thursday, December 19, 2024

EXCERPTS FROM MARKZ: THE EXCHANGE IN NON TAXABLE!! @DINARREVALUATION #iraqidinarinvestor

CENTRAL BANK DENIES AUDIO RECORDING ATTRIBUTED TO AL-ALAQ WITH COMMENTS OF MNT GOAT, 19 DEC

CENTRAL BANK DENIES AUDIO RECORDING ATTRIBUTED TO AL-ALAQ

(More propaganda to bash Ali Al-Alaq. They simply don’t want the enormous transformation of Iraq that is here and more is coming. They will no longer be able to steal the way they have in the past. Guess they will have to get creative again….lol…lol…. 😊)

A responsible source at the Central Bank denied, on Thursday, an audio recording attributed to the Central Bank Governor, Ali Al-Alaq.

The source said in a statement reported by the official news agency, and seen by “Al-Eqtisad News”, that “there is no truth to the recording attributed to the Governor of the Central Bank, Ali Al-Alaq, in which he spoke about smuggling $250 million daily through remittances and the rise in the dollar price.”

He added that “the Central Bank has achieved a major accomplishment in putting the external transfer and cash sale of the dollar and other currencies on a transparent path that is consistent with international standards and practices and has received wide international acclaim.”

He continued that “the measures taken achieve stability in the exchange rate and that covering imports at the official price achieves what we are witnessing in terms of general stability in prices and reducing inflation.”

STATUS OF THE RV BY MNT GOAT, 19 NOV

STATUS OF THE RV

I need all my blog followers to be VERY patient in waiting for the reinstatement of the Iraqi dinar. I know, I know it has been a decade or more for many of you and you are frustrated. But think of how the citizens in Iraq feel. Please don’t let this Christmas dream die because you are discouraged. My contact tells me its right in the wings waiting for the ‘go ahead”.

We must pray and pray very hard that the new process with correspondent banks is success as this is the nail in the proverbial coffin for the parallel black market.

To get a very good summary and update of what has been happening in this regard of the upcoming changes, please take a look at the recent articles in today’s Newsletter. This news is nothing new to us. We read dozens of articles already explaining these changes to us. So why do they keep emphasizing it over and over again? Could it be part of the education to inform the citizens of the upcoming changes?

😊They are titled and found in the Newsletter articles section:

“CENTRAL BANK GOVERNOR: OPENING EXTERNAL CHANNELS WITH FOREIGN CURRENCIES ELIMINATES THE BLACK MARKET” and

“PARLIAMENTARY COMMITTEE: GOVERNMENT WORKING TO REDUCE GAP BETWEEN PARALLEL AND OFFICIAL EXCHANGE RATE TO ACHIEVE STABILITY”

“EXCHANGE RATE RISES IN LOCAL MARKETS AS DOLLAR SELLING PLATFORM IN IRAQ NEARS COMPLETION”

When they refer to “exchange rate stability” what they really means in not so fancy terms is the ability to control their currency and adhere through all mechanisms to the “official” CBI rate.

How can they think they can significantly revalue and reinstate the dinar unless they can control the currency?

How many times have they told us this in the past that this is needed. Now they say they have a way to achieve it and it was just the normal international practice of doing business with other countries all along that was the solution.

Yes, they had to get off the sanctioned mode of doing business to buy imports using only the dollar to pay for them and go back to normal international practices, of multi-currencies.

But oh..oh..…wait a second….!!! 😊

What happens to the de-facto peg to the U.S. Dollar then when they do all this?

Won’t they have to also get of this sole peg? I know for a FACT that the IMF is standing in the wings waiting and watching for the results of this new process of paying for imports.

They are watching for inflation. Will there be a backlog of transactions waiting to pay foreign merchants or will this go smoothly. A gross backlog could drive up the prices in the stores as shortages could occur. There might be inflation.

I am told by my CBI contact that if it is successful after monitoring for inflation, then if all is good, the CBI will launch the Project to Delete the Zeros and we know what comes next.

They will have too also launch the new peg of the IQD to the new basket of currencies. Are you happy yet?

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

HERNAN: THE IQD HAS BEEN RV'D IN THE COUNTRY AT $3.49 @DINARREVALUATION #iraqidinarinvestor

IRAQI PRIVATE BANKS RELY ON CBI FOR “EASY PROFITS,” LACK ECONOMIC ACTIVITY, EXPERT SAYS WITH COMMENTS OF MNT GOAT, 19 DEC

IRAQI PRIVATE BANKS RELY ON CBI FOR “EASY PROFITS,” LACK ECONOMIC ACTIVITY, EXPERT SAYS

Most Iraqi private banks still “depend” on the Central Bank of Iraq (CBI) without engaging in any economic activity, banking expert Mohamed Salem confirmed on Monday.

Salem told Shafaq News Agency, “Most private banks engage in limited credit activities and do not contribute significantly to stimulating the Iraqi economy. Their revenue primarily comes from currency exchange, relying on electronic trading, hard currency, and electronic payments. They obtain dollars from the CBI, sell them, and make easy profits.”

“While private banks have stepped back from offering loans, they have led in electronic trading and providing services like ATMs and other digital services, areas where government banks have lagged,” he added.

He explained that “private banks’ services have encouraged employees to localize their salaries, while government banks, except the Trade Bank of Iraq, have struggled with low salary localization.”

“Despite their failure to keep pace with international or even private banks, government banks remain trustworthy in safeguarding depositors’ funds, even in the face of challenges such as the theft and looting they experienced in 2003,” the expert emphasized.

(looks like these bankers will either have to sell other banking products or find another job…lol..lol.. 😊)

MILITIAMAN CC HIGHLIGHTS NOTES, 19 DEC

MILITIAMAN CC HIGHLIGHTS NOTES

Summary

The Central Bank of Iraq is warning against fake trading companies while promoting advancements in tourism and digital currency to boost the economy.

Highlights

⚠️ Fake Companies Alert: CBI warns the public about fictitious trading companies.
💰 Tourism Revenue Growth: Iraq aims for tourism to cover a third of its budget.
🌐 Digital Currency Future: Discussions on digital platforms for currency and trade are ongoing.
📈 Economic Partnerships: Iraq is enhancing cooperation with regional markets for investment growth.
🏛️ Cultural Heritage: Iraq’s rich history attracts millions of tourists annually.
💳 Electronic Payments: The shift towards digital payments is underway for salaries and transactions.
🛢️ Oil Revenue Discussions: Ongoing negotiations to unify oil pricing and revenue sharing between Baghdad and the Kurdistan region.

Key Insights

⚠️ Consumer Caution Needed: The CBI’s warning indicates a proactive approach to protect citizens from scams, suggesting a shift towards more secure financial practices.
💰 Tourism as a Revenue Stream: The focus on tourism as a significant revenue source reflects Iraq’s potential beyond oil, which could diversify the economy and create jobs.
🌐 Embrace of Digital Currency: The discussions surrounding digital currencies and platforms hint at Iraq’s intention to modernize its financial system, aligning with global trends.
📈 Strengthened Regional Ties: Iraq’s collaboration with Abu Dhabi and other regional markets emphasizes a strategic move to enhance investment and economic resilience, crucial for future growth.
🏛️ Cultural Tourism Potential: Iraq’s ancient heritage positions it uniquely in the tourism sector, suggesting that investment in this area could yield substantial economic benefits.
💳 Transition to Digital Economy: The shift to electronic payments signifies an important modernization step, which could streamline financial operations and improve economic efficiency.
🛢️ Negotiation for Oil Revenue: Ongoing discussions on oil contracts demonstrate Iraq’s commitment to resolving internal economic challenges, which is essential for stability and growth.