Wednesday, November 29, 2023
"RV UPDATE" BY NADER FROM MID EAST, 29 NOV
Nader From The Mid East
Article from [Advisor to the prime minister] Salah. I love Salah. You always come with the good news...He says ...the Iraqi dinar is going to master the currency of the world soon. That's what we're working hard for and it's going to master it. A lot of people do not know what you guys know.
Great news this morning...They start them leaving the country to discuss the exchange rates between countries.Coffee with MarkZ, Militia man, and Andy Schectman. 11/29/2023
"NEWS OF IRAQ" BY MNT GOAT, 29 NOV
SUDANESE ADVISER: THE BATTLE OF THE DOLLAR IS COMING TO AN END
Al-Rikabi said in a post on the X platform, followed by Earth News: “The reform plans for the financial and banking system carried out by the government and the Central Bank of Iraq aim to build strong pillars for the stability of the economy and pave the way for creating a climate conducive to investment, and ending the eras of illegal trade, dollar smuggling and speculative operations in the market.”
“In short, the battle for the dollar is coming to an end,” he added.
More news….
MOODY’S MAINTAINS IRAQ’S RATING AT “CAA1″… WHAT DOES THIS MEAN?
Moody’s credit rating agency maintained its rating for Iraq’s economy at the level of “Caa1” and maintained a stable future outlook.
The agency said in its report that the classification comes under accreditation economic, financial and external impact on the oil and gas sector, resulting in significant exposure to oil price fluctuations and carbon transition risks.
More news….
UNITED NATIONS: WE SEEK COOPERATION WITH IRAQ TO MAKE THE FINANCIAL FUTURE A SUCCESS
The Resident Representative of the United Nations Development Program in Iraq, Oki Lootsma, confirmed today, Monday, the pursuit of cooperation with Iraq to make the financial future a success.
Lootsma said in his speech during the conference launching the Financial Investigation Procedures Guide, which was attended by the Iraqi News Agency (INA) correspondent: “The United Nations Development Program is honored to cooperate with Iraq to enhance financial integrity and the success of the financial future in Iraq, as well as achieving long-term continuity. We declare the fight against organized crime.” And combating money laundering, which is very important.”
He added, “The process of drafting the guide highlights a large cooperative program for the 11 institutions that guarantee the judiciary, integrity, the Financial Supervision Bureau, offices for combating organized crime, and the relevant institutions, as well as the institution of this work.”
He continued: “We are pleased with the great cooperation that will lead to important results.
A GOVERNMENT ADVISOR EXPLAINS THE MECHANISM FOR SELLING THE DOLLAR OUTSIDE THE CENTRAL BANK PLATFORM, 29 NOV
A GOVERNMENT ADVISOR EXPLAINS THE MECHANISM FOR SELLING THE DOLLAR OUTSIDE THE CENTRAL BANK PLATFORM
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained the aim of the Central Bank’s circular today regarding trading the dollar from outside the platform according to supply and demand, indicating that it will provide high flexibility in supply that contributes to market stability.
Saleh explained in a press statement, “Liberating the operations of buying and selling foreign exchange is not an alternative to the policy of defending price stability and the government’s plan to interfere in the stability of the general level of prices.”
Saleh added, “Families, natural and legal persons in Iraq are hoarding amounts of cash in foreign currency and outside the banking system amounting to billions of dollars and are subject to two phenomena.
(Folks this article is part of the education phase. We still have to see more directly at the citizens and the 3 zero note swapping.)
Please go to the Articles Section to read the entire article. WOW! WOW! WOW!
"RV UPDATE" BY MNT GOAT, 29 NOV
Mnt Goat
What will 2024 look like? I will say one thing for sure as it will not be business as usual in Iraq...I will also dismiss this silly notion once again that Iraq must first rebuilt their economy and then watch the value of the dinar grow with it from 1/6 of a penny upwards...the very basis of the economy now is generating billions each month in oil revenues ...So why not reflect this value of the oil reserves alone in the rate of the dinar. If nothing else this wealth should be reflected into the equation of the rate of the dinar...I mean right now, NOT five or ten years from now... we can see the current rate does not reflect the currency value...Oh…but there is much more growth already than just oil too...We know for a FACT the dinar is being “artificially suppressed”.
So, how long will us investors in the IQD have to wait before Iraq is allowed to liberate its own currency?
Why do I say “now is the time”? We know they are completely out of Chapter VII sanctions since December 2022, and so why not treat them as such?
We know they want the Iraq funds (nearly USD 115+ billion) released from the NY banks and put in their custody to do what they want with it... We know they have plans for yet more Sovereign Funds to invest their reserves. We know they are making agreements now for “currency swaps” and will no longer be using any US dollars in Iraq as of January 1st 2024
We know since January they have undertaken a massive “de-dollarization” program and told it should have taken 6 years but they decided to do it in 1 year (2023). Why such a hurry?
We know the value of the IQD right now without any further economic development does exceed even pre-1991 era ($3.22) but still at 1/6 of a penny? We know Iraq now pumps 2/3 more oil than in pre-1991 era. We know Iraq also has announced 132+ tons of GOLD reserves. We know they are pushing this year alone, more than any other year since 2005, for the passing of Oil and Gas law. Why?
We know for a FACT that it is the U.S. through the Treasury Dept. direction that will NOT give sign-off to allow the reinstatement. Why? Finally, we know, the CBI has told us that January is the most opportune time to reinstate for accounting purposes, since it begins their new FISCAL year. Just be patient, the reinstatement is coming and I firmly believe with what we now are 99% sure it is going to be a January 2024 event. WOW! Finally!!!
https://dinarevaluation.blogspot.com/2023/11/rv-update-by-mnt-goat-24-nov.html
RV UPDATED BY TEXAS SNAKE, 22 NOV
Texas Snake Banker will call me Sunday morning to confirm on Sunday morning but at this point in time, he has all his exchange specialis...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...