Member: (From Dinar Guru) Mnt Goat Articles: “AMERICA STOPS THE DOLLAR CASH TO IRAQ: WILL THE DOLLAR RISE AGAINST THEDINAR?” and ” TARGETING IRAN, US TIGHTENS IRAQ’S DOLLAR FLOW, CAUSING PAIN“. These are my favorite articles in the news... It may at first seem imposing, but it will lead us to what we have been looking for all along...this move by the US is supported by the CBI and is in the plan as the next move that had to be made...It is going to set up the dinar for the future value...
MZ: That’s right….and they told us in 2023 that when the Arab summit returned –the dinar would have a new value. It was a promise they made. And the Arab summit will be going on next month!
Deeply entrenched since the 2003 US invasion, the dollar has become a cornerstone of Iraq’s economy, fueling oil exports, trade, and daily transactions, effectively operating as a parallel currency. However, older banknotes, especially pre-2003 issues, face growing rejection from traders and exchange offices.
Dollar in Iraqi Economy
The US dollar holds a significant position in Iraq's economy, functioning almost as a secondary currency. This prominence is rooted in the economic restructuring that followed the 2003 US invasion, during which the United States assisted in establishing the Central Bank of Iraq. Consequently, the dollar became deeply integrated into Iraq's financial system, especially given the country's substantial informal economy that relies heavily on cash transactions.
Iraq's oil industry, accounting for nearly 99% of the country’s exports, operates primarily in US dollars. This reliance reinforces the dollar’s dominance while closely linking Iraq’s economic stability to fluctuations in the US currency.
In Iraq, the old-design $100 US banknote, particularly those printed in 2003 or earlier, is commonly referred to as “Al-Ammani.” The term dates back to the 1990s when this denomination was widely circulated in Amman, Jordan. Due to strong trade ties between Iraq and Jordan at the time, the nickname made its way into Iraq.
Turns Away from Old Dollar Bills
Over time, new versions of the $100 bill with enhanced security features were introduced, making older editions less common in circulation.
Ahmed Sadiq, owner of Al-Aws exchange office, told Shafaq News that “some currency exchange offices refuse to buy old-design US dollar banknotes from customers,” noting that others accept them but at a rate 2,000 to 3,000 dinars lower than the market price.
He added that some exchange offices stamp certain dollar banknotes with a special office seal to avoid disputes, “because some customers have returned dollar bills to exchange offices, claiming they were counterfeit and alleging they had purchased them from those offices.”
“Marking foreign currency with a seal could create difficulties for buyers when trying to exchange them abroad,” he acknowledged.
For his part, Jowad Malik, owner of Al-Fas exchange office, told Shafaq News that “the reluctance to deal with old-design US dollars stems from counterfeiting cases in Turkiye and Jordan and rumors of such banknotes entering Iraq.” He noted that “many exchange office owners no longer accept them, considering them a thing of the past, or they buy them at a discount of up to 20,000 dinars or more—mainly those who can exchange them at the central bank.”
He also pointed out that many exchange offices refuse to handle $1 bills sometimes even $5 bills, despite neighboring countries accepting, assuming that this is largely influenced by major traders who dominate dollar transactions.
In addition, Iraqi trader Haider Al-Hassani told Shafaq News that he completely avoids dealing with old US dollar banknotes “to prevent counterfeiting risks,” as “older notes lack clear security features.”
Al-Hassani added that he also refrains from trading even in new US dollar bills, stating that “economic security regulations prohibit their exchange at market rates.”
Official Stance and Banking Regulations
Director General of Accounting at the Central Bank, Ihsan Shammran, stated to Shafaq News that “all US dollar banknotes issued by the Federal Reserve remain in circulation, and there are no directives from the bank suggesting otherwise, provided the notes are authentic and not counterfeit.”
He added that “the Central Bank of Iraq (CBI) and commercial banks continue to accept all denominations and past series of US dollar banknotes as long as they are genuine.”
Regarding the legitimacy of refusing the banknotes, the financial expert and former CBI Director General, Mahmoud Dagher, explained to Shafaq News that “no matter what happens, neither the public, traders, nor exchange office owners can be forced to accept old-design US dollars,” calling the practice a matter of personal discretion. link
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: Happy Valentines Day everyone!!!
Member: I would LOVE to see an RV for us all today for sure!!
Member: Is this the weekend we see it hit the forex?
Member: Well…it is a 3 day weekend…..hoping this is it!!
Member: I’m hearing everything is in motion and it won’t be long to get to us.
MZ: It was pretty quiet on the bond side and the group side overnight. Painfully quiet.
Member: Guess it’s the quiet before the storm….we hope.
MZ: And remember Sudani was in Prague yesterday where the World Court is….and his team was at the UN in New York.
Member: (From Dinar Guru) Mnt Goat Articles: “AMERICA STOPS THE DOLLAR CASH TO IRAQ: WILL THE DOLLAR RISE AGAINST THEDINAR?” and ” TARGETING IRAN, US TIGHTENS IRAQ’S DOLLAR FLOW, CAUSING PAIN“. These are my favorite articles in the news... It may at first seem imposing, but it will lead us to what we have been looking for all along...this move by the US is supported by the CBI and is in the plan as the next move that had to be made...It is going to set up the dinar for the future value...
MZ: That’s right….and they told us in 2023 that when the Arab summit returned –the dinar would have a new value. It was a promise they made. And the Arab summit will be going on next month!
Member: Iraq announced a new found oil field & now are richer than Saudia Arabia
Member: If it doesn't happen this month will Ramadan from 2/28 until 3/29 delay it?
MZ: “Loans and advances in banks have stopped since the beginning of the year- Reveal the reasons” they tell us that to many people are still hanging onto their dinar under their mattresses and there is an liquidity crunch. So they paused these things saying there is not enough cash in circulation because people are hoarding it. This is the excuse the banks are using.
Member: For goodness sakes…..if Iraq would raise the dinar value – these problems will just melt away…sheesh. .
MZ: Yes and is it possible people are hoarding their dinar because they know a value change is coming. I believe yes…..it is possible
MZ: “Iraq’s Golden treasure –Does it protect the country from the fluctuation of the economy?” The answer is yes. Gold is timeless in value and they have greatly increased their gold reserves so they have stability in their economy.
MZ: I believe more and more countries are preparing for a “gold standard”
MZ: “Budget and the relationship with Trump” He tells us things are great and they are talking to the US all of the time. Security is really improving and they are working on removing the tentacles of Iran.
Member: I believe we may be waiting for the audits to finish at the Federal Reserve, The IRS, The US Treasury and Ft. Know before they pull the RV trigger?
Member: Well we don’t want bad guys being able to access our funds…..makes sense I guess.
Member: DOGE arrived at the IRS a couple of days ago!! And Ron Paul is going to audit the Fed.
Member: Get em DOGE, darn IRS…..
Member: Several IRS agents are taking the pay to leave! What's that tell you??!
Member: Elon Musk: "I've had a top secret clearance for many years and have clearances that themselves are classified."
Member: They may need those figures for the QFS to start????
Member: Wait til DOGE audits the Federal Reserve and Wall Street ..
Member: We're watching NESARA roll out right now with the eliminating the Govt agencies
MZ: “14 states sue to block DOGE from uncovering government abuses and slashing waste” DOGE is just auditors…They cannot make changes….they can only audit and show the waste. They can make suggestions …but that is all they can do. Does anyone apprecieate the irony that the IRS is pitching a fit because they are being audited???
Member: I want to know just what they all are hiding…..
MZ: “ Congress has 30 days before a government shutdown deadline” Remember that the Biden administration spent 3 months worth of budget funds in the 20 days before Trump took office.
MZ: “ House Republicans strike deal to cut $1.5 Trillion from budget-Paving way for Trump’s legislative agenda” It’s all over the news that they have already struck a deal …It is out of committee and needs a full vote. It does look good and will result in tremendous cuts in spending through cleaning up waste and fraud.
Member: silver hits a high of $34.24 in early morning
Member: Stay calm, think clearly, act Decisively!!!!! We are at the end of this stay positive!!!!!!
Member: So excited for this 3 day weekend - could be the start
Member: I never realized how many 3 day weekends we actually had, until I started living from one to the next on the edge of my seat!
Member: Maybe this is the weekend. Given that all other RVs took place on Wednesday or Saturdays…and Presidents Day is Monday the 17th!!
Member: To the Republic for which we all stand...Love Light Life All
Member: Thank you Mark MODS, Mr.C and family. Have an awesome weekend.
Mod: There will probably not be a podcast tonight so everyone can enjoy their Valentines night.
Shafaq News/ Iraq has secured an achievement in maritime regulation with the International Maritime Organization (IMO) officially recognizing an Iraqi auditor for the first time.
Farhan Al-Fartousi, Director-General of the General Company for Ports of Iraq, told Shafaq News on Wednesday that the IMO has certified Captain Zain Al-Abidin Adel Abdul Munim as an accredited auditor under the IMO Member State Audit Scheme (IMSAS).
“This is an unprecedented achievement in Iraq’s history,” Al-Fartousi said. “The relentless efforts of the company’s administration have led to the IMO’s acceptance of an Iraqi maritime expert as an IMSAS-certified auditor, a first for the Ministry of Transport and Iraq’s ports sector.”
Boosting Iraq’s Compliance with Global Maritime Standards
The certification is expected to significantly aid Iraq in preparing for an upcoming mandatory IMO audit, ensuring that its ports and maritime sector comply with international regulations.
“This will help Iraq navigate the IMO’s compulsory audit process and enhance our ability to meet its requirements,” Al-Fartousi noted. “It is a major step forward in aligning Iraq’s ports with international safety and security standards.”
The development is seen as a crucial advancement in Iraq’s efforts to modernize its maritime infrastructure, improve port operations, and bolster global confidence in its compliance with international maritime regulations.
What is IMSAS?
The IMO Member State Audit Scheme (IMSAS) is a comprehensive evaluation program that assesses how effectively IMO member states implement international maritime conventions. The audit covers areas such as maritime safety, security, environmental protection, and regulatory enforcement.
By having an IMO-certified auditor, Iraq is now better positioned to streamline regulatory processes, improve maritime governance, and ensure adherence to global safety protocols, a move that could enhance trade and shipping efficiency across the country’s ports.
[via WiserNow] A lot has happened. A lot of information has come in...As of...Monday...we have rates on redemption center screens, which was not on for three or four days prior...
They're still on bank screens...They want us to be pleasantly surprised by very strong rates that are at the redemption centers. And I believe we will be very impressed with those rates.
I've told you guys they plan to offer us a contract rate, which I told you last week, was quite high. The other rates are very strong...
the redemption centers are fully staffed - all the currencies are live on the screens and we’re really ready get started...at this point, from what I'm hearing, we should be celebrating on Thursday night.
