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Laid Back

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Laid Back last won the day on December 14 2023

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  1. “Baghdad Chamber of Commerce approved a 20% decrease in dollarization in Iraqi markets during 2024.” It will grant them greater autonomy over their monetary policy. By reducing their reliance on the US dollar, they will have more flexibility in setting interest rates and managing money supply to address their specific economic conditions and goals. Go dedollarization Go delete of 000 Go stronger dinar
  2. Interesting…!!! Two news articles this week talking openly about raising the value of the dinar. Where there’s smoke 💨There’s fire 🔥 Give me $0.76 per dinar and I will never look back. Go delete of 000 Go Lower denomination notes Go Stronger dinar Go purchasing power
  3. They are not telling us the real numbers. 2023 end with a BIG Surplus …..Now lack of surplus from 2023 budget Same thing with chunky money 73 trillion, 84 trillion, 95 trillion I bet is the same with the money in circulation and other economic indicators They can’t tell us the real numbers because we can calculate the real market Value of the dinar. Go delete of 000 Go Stronger dinar
  4. “the Ministry of Finance does not intend to delay the release of budget and there are technical matters that must be completed before the allocations for governorates and ministries are released.” Changing the exchange rate is a technical matter. Go Stronger Dinar.
  5. Remember what PM Al-Sudani said. ” Keep your Dinar because your dinar is stronger “ “Iraqi dinar will return to its lofty economic value” $1/1320 = 0.00075 Delete the 000 = $0.75 $750,000 per million IQD Go delete of 000 Go stronger dinar Go purchasing power
  6. Article IV: Obligations Regarding Exchange Arrangements 1. General obligations of members 2. General exchange arrangements 3. Surveillance over exchange arrangements 4. Par values 5. Separate currencies within a member's territories Section 1. General obligations of members Recognizing that the essential purpose of the international monetary system is to provide a framework that facilitates the exchange of goods, services, and capital among countries, and that sustains sound economic growth, and that a principal objective is the continuing development of the orderly underlying conditions that are necessary for financial and economic stability, each member undertakes to collaborate with the Fund and other members to assure orderly exchange arrangements and to promote a stable system of exchange rates. In particular, each member shall: (i) endeavor to direct its economic and financial policies toward the objective of fostering orderly economic growth with reasonable price stability, with due regard to its circumstances; (ii) seek to promote stability by fostering orderly underlying economic and financial conditions and a monetary system that does not tend to produce erratic disruptions; (iii) avoid manipulating exchange rates or the international monetary system in order to prevent effective balance of payments adjustment or to gain an unfair competitive advantage over other members; and (iv) follow exchange policies compatible with the undertakings under this Section. Section 2. General exchange arrangements (a) Each member shall notify the Fund, within thirty days after the date of the second amendment of this Agreement, of the exchange arrangements it intends to apply in fulfillment of its obligations under Section 1 of this Article, and shall notify the Fund promptly of any changes in its exchange arrangements. (b) Under an international monetary system of the kind prevailing on January 1, 1976, exchange arrangements may include (i) the maintenance by a member of a value for its currency in terms of the special drawing right or another denominator, other than gold, selected by the member, or (ii) cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, or (iii) other exchange arrangements of a member's choice. (c) To accord with the development of the international monetary system, the Fund, by an eighty-five percent majority of the total voting power, may make provision for general exchange arrangements without limiting the right of members to have exchange arrangements of their choice consistent with the purposes of the Fund and the obligations under Section 1 of this Article. Section 3. Surveillance over exchange arrangements (a) The Fund shall oversee the international monetary system in order to ensure its effective operation, and shall oversee the compliance of each member with its obligations under Section 1 of this Article. (b) In order to fulfill its functions under (a) above, the Fund shall exercise firm surveillance over the exchange rate policies of members, and shall adopt specific principles for the guidance of all members with respect to those policies. Each member shall provide the Fund with the information necessary for such surveillance, and, when requested by the Fund, shall consult with it on the member's exchange rate policies. The principles adopted by the Fund shall be consistent with cooperative arrangements by which members maintain the value of their currencies in relation to the value of the currency or currencies of other members, as well as with other exchange arrangements of a member's choice consistent with the purposes of the Fund and Section 1 of this Article. These principles shall respect the domestic social and political policies of members, and in applying these principles the Fund shall pay due regard to the circumstances of members. Section 4. Par values The Fund may determine, by an eighty-five percent majority of the total voting power, that international economic conditions permit the introduction of a widespread system of exchange arrangements based on stable but adjustable par values. The Fund shall make the determination on the basis of the underlying stability of the world economy, and for this purpose shall take into account price movements and rates of expansion in the economies of members. The determination shall be made in light of the evolution of the international monetary system, with particular reference to sources of liquidity, and, in order to ensure the effective operation of a system of par values, to arrangements under which both members in surplus and members in deficit in their balances of payments take prompt, effective, and symmetrical action to achieve adjustment, as well as to arrangements for intervention and the treatment of imbalances. Upon making such determination, the Fund shall notify members that the provisions of Schedule C apply. Section 5. Separate currencies within a member’s territories (a) Action by a member with respect to its currency under this Article shall be deemed to apply to the separate currencies of all territories in respect of which the member has accepted this Agreement under Article XXXI, Section 2(g) unless the member declares that its action relates either to the metropolitan currency alone, or only to one or more specified separate currencies, or to the metropolitan currency and one or more specified separate currencies. (b) Action by the Fund under this Article shall be deemed to relate to all currencies of a member referred to in (a) above unless the Fund declares otherwise.
  7. I totally agree with you Dinarrock, The CBI has been complaining for years about the hoarded cash mass. I have read many articles where they mentioned different amounts of hoarded cash 73 trillion, 84 trillion and now 95 trillion. They are not telling us the real amount of hoarded cash. We know the CBI have collected a lot of the hoarded cash. - The citizens can’t use the dollar anymore since 1/1/24. Only Dinar - All public servants are paid electronically - Increased financial inclusion from 11% to 23% - All trade is paid in Dinars - Increased of ( POS ) Go delete of 000 Go LD notes Go Stronger dinar Go purchasing power
  8. “Economic affairs specialists have identified the most prominent advantages that digital transformation can achieve in banking, placing at the forefront of these advantages the elimination of inflation through the use of small denominations, and the absorption of citizens’ hoarded cash mass” Go delete of 000 Go LD notes Go Stronger dinar Go purchasing power
  9. The General Company for Iraqi Ports announced, on Sunday, that it achieved revenues exceeding 65 billion dinars during the month of February. Thanks to the ASYCUDA system. The Automated System for Customs Data (ASYCUDA) is a computerized customs management system that covers most foreign trade procedures. Go trade Go import/exports Go economic growth Go stronger dinar
  10. “Al-Sudani mentioned in his speech that international financial institutions recorded growth in the non-oil economic domestic product, which reached 6%, which is an encouraging and positive percentage, and can be increased.” Go diversification of the economy Go economic growth Go stronger dinar
  11. “The parliamentary role is not at the required level, and is not in line with the high figures for council members’ salaries.” "The role of the members of the House of Representatives does not meet the ambition and aspirations of the citizen in terms of presenting laws that primarily affect the interest of the Iraqi people, as well as laws related to the country's security." "the reduction is in the interest of the investment budget and other budget sections because most of the budget goes to salaries," "The Sudanese government's ministerial platform included a number of economic reforms, including reducing salaries and allocations for special grades in exchange for improving theliving situation of the lower grades of employees." Go reforms Go development Go economic growth Go stronger dinar.
  12. - 142.6 tons of gold - $115 billion dollars in foreign currency reserves - Oil production around 4 million barrels per day - 131 trillion cubic feet of natural gas reserves - Belt & Road infrastructure project - Al Faw port. The largest port in the world PM Al Sudani “keep your dinar because your dinar is stronger”. “Iraqi dinar will return to its lofty economic value” Go Iraq 🇮🇶 Go reserves Go stronger dinar
  13. “This growth reflects an increase in public confidence in Iraqi private banks and the ability of private sector banks to acquire part of the monetary mass issued outside the banking system” “The increase in the volume of deposits in the private banking sector will contribute to strengthening the wheel of economic growth through the tendency of these banks to invest deposit funds in beneficial economic projects through which they can achieve profits to cover the interest paid on these deposits” - Increase public confidence in Iraqi private banks - Increase financial inclusion - Increase in volume of deposits and capital - Acquire part of the monetary mass outside the banking system ( Chunky Cash) More than 9.25 trillion of chunky cash back into the banking system They are reducing the monetary mass. Go delete of 000 Go Lower denomination notes Go Stronger dinar Go purchasing power
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