Saturday, September 21, 2024

STATUS OF THE RV BY MNT GOAT, 21 SEPT

 As you might remember each month, I started compiling a list of the newest events we have witnessed during a period of time. I wanted to continue this effort also for the month of September, but I am not. 

Instead, I have to say it is all just about implementing the Electronic Payment and Inclusion of the banks into this new process.

 I decided to save time not to list out all the articles this month. You know what they are and you read my commentaries throughout the month.  But this does not downplay this effort by the CBI and the Finance Committee. They are committed now to complete this effort, and I believe they are way beyond our expectations of just where they currently stand in this effort.

Ali Al-Alaq is still the acting Director of the CBI just as we were told by my CBI contact the GOI never did accept his resignation. 

The goals are still the same as they want to eliminate this Black Market corruption with the dollar and set the rate first at par with the official CBI rate. Then once this is in control, they intend to change the official rate and the rest is history as the saga of the currency swap out can then occur.

Again, in the articles today they talk about the stashes of currency outside the banking system and tell us there is that there are about 70 trillion dinars (about 50-60 billion US dollars) of free money supply, pointing out the possibility of investing it through the transition to the electronic system in financial transactions. But how will they do this? How can they get the citizens to turn over this money to the banks to get it digitized ?

Economist Qusay told Al-Maalouma told us that by focusing on investing in financial inclusion is accompanied by many benefits, the most prominent of which is withdrawing the free cash flow outside the banking system into the banking system. This is estimated at about 70 trillion dinars, or an average of 2 million dinars for every Iraqi citizen.”

We have read in the past that this effort to get this amount to the banks, could lead to an increase in liquidity in banks and increase their ability to grant through small and medium income-generating projects or by increasing the capacity for long-term strategic investment financing. So do you see the strategy yet of what Iraq is doing?  In articles today they point out that and I quote – “Iraqi banks have the qualifications to switch to the electronic system, noting that “the transformation of the financial sector to the electronic system with credit cards will pave the way for attracting international investments and increasing confidence in the Iraqi economy.” 

In short summary, is this not what we all want to happen so they can pull the trigger on this revaluation and reinstatement. Just asking 😊 😊 😊.

If you want to take a look at the previous list of events for previous months, we have never seen such progress since late 2022, please click on the LINK HERE to get to this blog page to read all the other events.  

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

IRAQ PM CONFIRMS DINAR REVALUATION

Friday, September 20, 2024

"ALAQ CONSTANTLY REASSURING CITIZENS THAT THE USD WILL NEVER COME BACK, BUT THEIR NEW CURRENCY WILL COME BACK SOON" BY FRANK26, 21 SEPT

 KTFA

FRANK26:"ALAQ CONSTANTLY REASSURING CITIZENS THAT THE USD WILL NEVER COME BACK, BUT THEIR NEW CURRENCY WILL COME BACK SOON".............F26

Is the decline in oil prices related to the rise in exchange rates? An "important" clarification from Al-Alaq

9/18/2024

 

 Baghdad
 

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Wednesday, that all transfers are subject to auditing processes, while he indicated that the decline in oil prices has nothing to do with the rise in the exchange rate.

Al-Alaq told the official agency, which was followed by "Al-Eqtisad News", that "the Central Bank provides the dollar at the official price to all commercial and personal channels, travelers, and all types of operations that represent legitimate activities, operations, and requests." 

He pointed out that "any price outside the country is a price that only indicates the existence of abnormal operations that attempt to deviate from the official and legal system and the correct fundamental channels," stressing the need to "focus on the amount of sales carried out by the Central Bank at the official price and those seeking the dollar, whether they are traders, importers, individuals or travelers. "

He pointed out that "methods have been put in place for each channel to secure the provision of dollars on the one hand, and a very large degree of oversight to verify the integrity of the pre-operations before they are implemented," noting that "this is a major shift in foreign transfer operations, as they were previously audited at a later stage, and today all transfer operations are not carried out or implemented except after they are subject to the auditing process."

He explained that "the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has foreign currency reserves that enable it to defend the exchange rate."


LINK


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Central Bank Governor: We have put in place methods to secure the provision of dollars and are subject to strict supervision

9/18/2024

 

 


Baghdad - WAA - Wissam Al-Mulla

 

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced today, Wednesday, that all transfers are subject to auditing processes, while he indicated that the decline in oil prices has nothing to do with the rise in the exchange rate.

Al-Alaq told the Iraqi News Agency (INA): "The Central Bank provides the dollar at the official price to all commercial and personal channels, travelers, and all types of operations that represent legitimate activities, operations, and requests." 

He pointed out that "any price outside the country is a price that only indicates the existence of abnormal operations that attempt to deviate from the official and legal system and the correct fundamental channels," stressing the need to "focus on the amount of sales carried out by the Central Bank at the official price and those seeking the dollar, whether they are traders, importers, individuals or travelers."

He pointed out that "methods have been put in place for each channel to secure the provision of dollars on the one hand, and a very large degree of oversight to verify the integrity of the pre-operations before they are implemented," noting that "this is a major shift in foreign transfer operations, as they were previously audited at a later stage, and today all transfer operations are not carried out or implemented except after they are subject to the auditing process."

He explained that "the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has foreign currency reserves that enable it to defend the exchange rate."


LINK

"AFTER WE GET CONFIRMATION THAT CMKX HAS GONE THEN I'LL BE IN THE WARM & FUZZY MODE" BY GINGER, 21 SEPT

 💢Q & A - Camper Warm Fuzzies 😛 #rvthereyet #happycampers #GLL This was from chat on Thursday night 9.19.24 


💢Q - Teddie Bear: Hi Ginger ❤️… should we be warm and fuzzy also?  🥹🫣 (After seeing Mark's terrific video clip)


💢A- Ginger: Hahaha 😂😁. That's so cute


Welp, I gotta tell ya.... Warm your fuzzies at your own discretion. 😉😛☺️


I'm personally gonna remain in chill mode 😉😁😎🌺. I'm gonna wait and see what pans out over the next several days. I'm encouraged, for sure.... But I'm guarded too...


We're still waiting for a definite confirmation that CMKX has begun to actually pay out. 🤔 That's still up in the air as far as I'm concerned. ➡️ If anyone has first hand knowledge of movement please let me know ASAP.💥


➡️ Until then, I see us in a holding pattern -- but the happy news is it could all move in a matter of hours (electronically) or a couple of days after the adjudicated funds paperwork is hand delivered to recipients (by sheriff deputies, etc). The point is, it will be fast and not a long, drawn out process. I just don't see this (CMKX) as a domino that's fallen yet. (We need this to go because it's in the GCR side of the coin. See my past teaching posts to learn more. Search 🔍 key word "Bookends")


Also, we're waiting for the "Trigger Event" (whatever it will be) - another piece I just can't budge on. 🤨🧐🤔 The stage is being set for something bigger to pop off. What will it be?


When these people/gurus/psychics were "calling it" for yesterday and today (earlier 9.18 & 9.19), I was just over here rolling my eyes. Nope I didn't see it. Not quite ready. My gut says these items - non negotiables - still have to happen. But I'm very happy with the news coming from Iraq nonetheless. 🙂 


After we get confirmation that CMKX has gone THEN I'll be in the warm and fuzzy mode. 😁😉💜 


Until then, hang with us here in the chill zone in the lovely Lounge.


~ Ginger of the Liberty Lounge 9.20.24

DINAR REVALUATION HIGHLIGHTS!!: THE RV IS IMMINENT

"JUST LIKE IRAN, JUST LIKE CHINA... RUSSIA YOU HAVE TO PLAY FAIR FROM NOW ON IF YOU WANT TO DO BUSINESS WITH IRAQ. BY FRANK26, 21 SEPT

 KTFA

FRANK26: "JUST LIKE IRAN, JUST LIKE CHINA... RUSSIA YOU HAVE TO PLAY FAIR FROM NOW ON IF YOU WANT TO DO BUSINESS WITH IRAQ."...........F26

Launch of the Iraqi-Azerbaijani Businessmen Forum in Baku

Launch of the Iraqi-Azerbaijani Businessmen Forum in Baku

9/18/2024

 

The Azerbaijani capital, Baku, witnessed the launch of the Iraqi-Azerbaijani Businessmen Forum on Tuesday, in the presence of the Iraqi Minister of Trade, Athir Al-Ghariri, and the Azerbaijani Minister of Economy, Mikail Jabbarov.

In a speech he delivered at the forum, Al-Ghariri referred to the depth of historical relations between Iraq and Azerbaijan, and the importance of strengthening them by establishing real partnerships between businessmen from the two countries, which would contribute to enhancing economic growth, according to the Russia Today Arabic website.

Al-Ghariri called on Azerbaijani companies and investors to enter the Iraqi market and explore available investment opportunities, stressing the need to increase the export of Iraqi products to Azerbaijan.

He stressed the importance of cooperation in the field of localizing the gold industry in Iraq, where they discussed ways to benefit from Azerbaijani expertise to support and develop this vital sector in a way that serves the Iraqi economy.

For his part, Azerbaijani Minister of Economy Mikail Jabbarov stressed his country's keenness to develop trade and investment relations with Iraq.

The forum was attended by a large number of Iraqi and Azerbaijani traders and businessmen.


LINK