Wednesday, December 25, 2024
DOLLAR AUCTION.. WHAT IS THE TRUTH ABOUT STOPPING THE CENTRAL BANK’S PLATFORM FOR CURRENCY CONVERSION? WITH NT GOAT COMMENTS, 25 DEC
DOLLAR AUCTION.. WHAT IS THE TRUTH ABOUT STOPPING THE CENTRAL BANK’S PLATFORM FOR CURRENCY CONVERSION?
A responsible source in the Central Bank of Iraq revealed, on Monday evening, the truth about stopping the Central Bank’s platform for currency transfer starting today.
The source told Shafak News Agency, “The talk about the official suspension of the Central Bank’s platform for the currency transfer window, on today’s date 12/23/2024, is incorrect. Today, the auction worked normally and there is no official decision to suspend it so far.”
The source, who requested anonymity, added, “This platform will be stopped at the end of this year, according to what the bank officially announced. This does not mean stopping transfer operations, as some are trying to promote.
However, after this step, there will be direct dealings between banks and correspondent banks, and not canceling transfer operations, as is being promoted. The issue is not limited to specific banks, but rather the process will be much broader.”
The responsible source in the Central Bank stated that “many Iraqi banks have the capabilities to deal directly with correspondent banks and operate in accordance with the work of advanced global banking sectors.”
(The Central Bank of Iraq must break the parallel market (black market) in selling dollars and get them in line with the “official” rate of the Central Bank. This is critical to the process and the next step. The step we all want to happen)
Tuesday, December 24, 2024
TIDBIT FROM FRANK26, 25 DEC
Frank26
The introduction of all these foreign currencies [to transact in for import/export] is the introduction of the international basket where [the dinar] will be paired and the new exchange rate will exist and grow.
I'm excited because they're stopping the CBI auctions and replacing them with value for your currency to deal with other currencies that have their own value...
Europe 'Displeased' With Trade Volume With Iraq, 25 DEC
Europe 'Displeased' With Trade Volume With Iraq
Money and business Economy News – Baghdad The European Union renewed its confidence in Iraq's calm and successful diplomatic steps in light of the tensions witnessed in the region and the world, stressing that the partnership with Iraq is intensive and built on trust.
While he indicated that he is following up and discussing with the government of Mohammed Shia al-Sudani the best ways to implement the vital "Development Road" project for the region and the world, he announced that the (27) member states of the Union, in light of the improvement witnessed by Iraq, are discussing how to facilitate the entry of Iraqis into it, especially for the sake of the economy and academic exchange.
The EU Ambassador to Iraq, Thomas Seiler, said: “The partnership between the EU and Iraq is intense and built on trust, and there is cooperation in many areas, especially with regard to modernizing the state and democracy, and reintegrating Iraq into the international system in terms of international rules and standards, such as the World Trade Organization.”
Trade and investment
Sayler expressed his hope for increasing trade and investment exchange with Iraq.[/rtl]
He pointed out that "the volume of trade exchange between the European Union and Iraq is not sufficient yet, it is not even half the volume of Iraq's trade balance with China," stressing that "increasing bilateral trade and European investments in Iraq is one of our main policy goals in 2025."
Iraq's diplomacy
Regarding regional and global developments, he explained that "the European Union is in continuous consultations with the Iraqi government on regional developments, and we exchange views and try to work together to face challenges, especially the situation in Syria now," expressing "the European Union's great appreciation for the successful position of the Iraqi government to calm tensions."
He also noted that "it is certain that the Iraqi consultations with Iran regarding the security situation in the region have a positive impact," stressing that "no issue in the region can be resolved through violence, but only through diplomacy and dialogue."
European visas
Regarding entry visas for Iraqis to the European Union, Sailer explained that "this is the responsibility of the twenty-seven member states of the European Union," stressing that "the European Union is aware of the increasing positive development of the security situation in Iraq."
We are working with member states to find out how to facilitate the entry of Iraqis, especially for economic and academic exchange," he added.
Development path
The EU ambassador concluded his remarks to Al-Sabah by saying: “For the European Union, the (Iraqi Development Road) project is a major infrastructure project for the entire region,” indicating that “the Union is actively participating with the Iraqi government and with Turkey to find out the best ways to implement the project, as well as with the participation of the Kurdistan Region of Iraq,” and he stressed that “European companies are working in (the Grand Faw Port) and we want to expand our cooperation.” 139 views 12/23/2024 - https://economy-news.net/content.php?id=51192
STATUS OF THE RV BY MNT GOAT, 25 DEC
STATUS OF THE RV
I wanted to come in today and give a normal Tuesday Newsletter. However, I will try to make it shorter than normal since I know many are still shopping or making last minute preparations for spending time with family and friends over this Christmas season.
So, first I wanted to dispel some idiotic rumors once again. As normal around Christmas time these idiot intel gurus (mostly namely the TNT idiot) tells everyone that the contractors are being paid at an RV rate and this time of $3.91 per dinar.
Really? How is this possible. Simply put – its NOT.
It is stupid to even repeat such a lie. How unknowing even about the financial system in Iraq to think this could even be possible when the “official” rate of the Central Bank of Iraq (CBI) is still at 1320 dinars per dollar.
No they are not trying to covertly implement the RV slowly behind our backs. Again, more nonsense. There are no games being played here.
The CBI told us many times already they would be upfront and straight forward about the process of the RV. Oh… but once again these gurus are just speculating and that is the fashion of all their intel. When will they actually get down to telling their listeners about FACTUAL information.
Think about it…. why in hell would the finance committee pay out to contractors at this absorbent rate when at a time when the CBI is trying to reel in dollar and stabilize the economy?
Although it is what we as investors are looking for right now, it would only destabilize the economy if they do not follow the entire process all the way through.
Yes, there is a process to success of this kind of major revaluation that is coming. So, when I hear rumors such as this, I normally bump them off my CBI contact and 99% of the time they are just rumors or lies.
Remember a lie is when you damage someone or hurt someone maliciously, thus knowing that this could happen, but still tell it anyway. This is hurtful and these people should be ashamed of themselves. The intel gurus can’t hide from their responsibility and claim they are just “passing” on information. Where has common sense gone?
In today’s news we read in a couple of the articles that tell us that sudden changes in the rate of the dinar could be disastrous for the economic stability of Iraq. Opps! There’s that word again – STABILITY. Yes, how many times must the CBI tell us they need STABILITY and SECURITY in order to execute the Project to Delete the Zeros, in the next phase.
😊Please go read the article titled “ THE DOLLAR MARKET IS ON “ONE LEG”.. A NEW MECHANISM AND THE EXCHANGE RATE IS THREATENED!” I quote from the article-
“In light of these moves, news has been raised about a move towards a new adjustment to the exchange rate, which has raised economists’ concerns about the potential impact of this move on the economic process in general.”
“Experts stressed that sudden changes in monetary policy could create additional confusion in the markets and undermine confidence in the financial system.”
What are they saying in this article?
This article is not bad news but rather they are just telling us that there is a process in place to change-out the dinar to the lower denominations and effect the rate as part of this process without causing havoc.
A higher, sudden RV, if not done appropriately would cause havoc.
I explained this process and I only hope my readers are not that stupid to fall for this TNT garbage intel. They (the authors of the article above) are saying you can’t just, for instance, decide to pay out contractors at $3.91 and ignore everything else that may be impacted by such a sudden change in rate. Get it? Do you see just how stupid this idiot TNT Tony is to even repeat such nonsense to his listeners.
He just creates rumors that filter down to many of the other gurus who then use his information on their sites. His calls are all just about rumors. The rumors blossom and before you know it everyone is spreading it as if it’s the truth.
Then again when nothing happens, for the thousandth time, everyone is hurt and the stress continues. Then they come to Mnt Goat Newsletter and it affects their point of view too. Yes, it does impact my readers and this is why I try to clarify these rumors and put them to rest. And yes, I am sick and tired of having to do this just as you are reading it.
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