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Luigi1
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Posts posted by Luigi1
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Here's another article related to the above...sooner rather than later...
Mnt Goat: Sooner Rather Than Later.
ARTICLE: The reinstatement is coming, it won’t be years anymore & I firmly believe from what we already know & what we are now witnessing, the writing is on the wall, but just not yet. Do you hold large sums of Iraqi Dinar? Are they the larger three zero notes issued after 2003? If so, you just might be a millionaire sooner than later. In the month of April, Iraqi reforms has made monumental leaps & bounds even since 2023. Folks, it’s about to EXPLODE! It is now openly evident...It would be foolish to turn back now. Full speed ahead, choo-choo.
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8 minutes ago, Dretown39 said:
Other than remodeling their monetary policy & banking reforms, there's really nothing else they need to do to support system" rel="">support their currency in order to add value. They could've been flipped that "switch".
I believe they are waiting on the US to go gold-asset backed digital.
The US is the hold-up, not Iraq. IMHO.
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Here's our daily dose of humor while we wait...
MarkZ Update- Some highlights by PDK-Not verbatim.
THREAD:
Member: TODAY is the day Noah’s Ark landed & the day the Red Sea parted. Expect a HUGE day today.
Member: Does the fiat dollar crash, the stocks crash first then the RV? Or will the RV crash the market?……
Member: Sounds like what came first- the chicken or the egg?
MZ: It was quiet overnight on the bond side. No news since yesterday. But we had such tremendous movement the last couple of days I am not worried about it.
MZ: In Iraq “ Iraq’s Federal Board of Supreme Audit exposes US $600 million corruption scandal involving “ghost travelers” Iraq allowed people to get US cash when they said they were going to travel abroad. People were getting cash & were not traveling at all…& the money went to the parallel markets…... The US claims this is “corruption” This is more proof paoitive they need to change that Dinar rate as soon as possible.
Member: Al Sudani walked with his people & took pictures. His people were showing Sudani lots of love.
Member: Yes- Nader posted a video showing Sudani walking the street, mingling with citizens letting them know he cares about them & allowing selfies.
Member: Last night on Whiskey & Winning the consensus from the guys is we are not winning this thing….How can bonds be moving ? Which means we follow and Nesara after?
MZ: It doesn’t have to be one or the other. Both sides need a economic reset. Both sides need commodities to win because that is their only way out. So both sides need the reset, bonds to move & money to change hands. But one of the sides does not want the political changes of Nesara….That is where it is a little spookier. Either way its good news for us that we have prepared ourselves.
Member: Think of this War as a "Tug of War". Our side is growing with people waking up. Their side is shrinking. It's just a matter of time & they are panicking!
MZ: Many are preparing for a “blood letting “ tomorrow on the DOW. Tomorrow we may get some huge drops.
Member: I will be surprised if the rats don’t manipulate the market back up so the loss is minimal.
MZ: I expect a crash on Friday because more inflation numbers are coming out then. This should obliterate the hopes of a rate cut. If they do announce a rate cut- then the whole market is going to know that inflation is getting ready to go through the roof. Either way I believe tomorrows news is going to be bad. Maybe Jaime Dimons statement that a “soft landing” is never going to be an option is true?
Member: All news is bad from everyone everywhere. There is no good news anywhere in this world right now.
Member: Mark…thoughts…could the scare event be a market crash by chance?? A lotta people could be like “meh” with nuclear stuff, but mess with their money and “The sky is falling and world is ending”?
Member: The market has 3 levels of circuit breakers. 1st is 7%, the 2nd is 13% & the 3rd is 20%. We are currently only down 1.7 % for the dow.
Member: Let's hope tomorrow is the crash we have been expecting... You can't make an Omelet without breaking a few economies.
Member: Any news on the Bolivar.
Member: The Venezuelan leader's aspirations for BRICS membership are anticipated to crystallize at the upcoming summit in Russia this October. Dumping the USD.
Member: Yesterday I heard when we go to redeem they look at serial numbers of our currency to see who bought them?
MZ: When you go to the bank or grocery store-do they search your serial numbers when depositing or spending it? This is more insanity that people get fed as misinformation……I want to hit myself in the head with a mallet at some of this.
Member: I believe that we need to stop the fear porn ... it doesn't matter what the rates are, trusts, serial numbers, being probed ... STOP & just realize that you are being BLESSED because U R Chosen.
MZ: The Economic Ninja did a video on the Iraq currency yesterday. More & more people are talking about it. Even Jaimie Dimon said the Dinar was going to be the economic savior of the entire world. Sudani has already told us they are going to increase the value & remove the zeros. It’s going to happen.
Member: when we exchange... do we need to put all like currency together or keep each purchase separate?
Member: I put each currency in a separate envelope with the name of the currency on it and then another envelope with any receipts I had.
Member: Today's word is "exhaustipated" too tired to give a sh*t…lol.
Member: Nobody better say “trust the plan” or “Its all a movie” to me today or I will explode!!!
Member: After the reset i don’t want to see or eat popcorn ever again in my life.
Member: I have so many friends losing patience in this & kinda giving up. They are tired of the lies/not seeing anything happening.
Member: I agree this **** Show should have been over a LONGGG Time ago! The Suffering is becoming OBSCENE!
Mod: SHOW US THE MONEY AND WATCH THE WORLD CHANGE IN A BLINK OF AN EYE!!!
MZ: I agree.
Member: I heard the RV delay was for our safety. Now things are under control?
Member: I can't believe after today there is only 5 days left in this month.
Member: A reset/RV & Nesara would fix most problems worldwide. I pray they are not just a fairy tale or a myth.
Member: If Whitehats do exist- they better do something soon or there will be nothing in this world left to save.
Member: If we only need 30% of the bond people to go before we get our turn to exchange….I beleive we are very close.
Member: Use this time to make decisions about what we want to do to help. THIS World become a truly loving place for ALL to live!!
Member: I know we are all tired & frustrated but try to keep positive that “suddenly” good things will happen.
Member: Mark, thanks as always…Everyone have a nice day.
Member: Mark thank you for your podcast & renewing my faith that there are still sane people still around.
Mod: DR. SCOTT YOUNG WILL BE JOINING US ON TONIGHT'S PODCAST!!
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1 hour ago, BETTYBOOP said:
If we are waiting for what goldilocks is stating we could be here a wee while
Economists believe the GCR must wait on GESARA to kick in & that'll lay the foundation for the RV.
So do I...Out with the old & in with the new. IMHO.
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MarkZ via PDK: Everything is Done. We won't get out of April without this RV.
THREAD:
Question: So has RV started? I believe it has started & is not going back.
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Here's some articles of Dinarian interests...
Everything is not done. We wait.
Treat as rumors. Not verified. Your opine.
Goldilocks: This Has To Be Done Before The RV.
ARTICLE: I see two things that have to happen before we see an RV on our paper money. Gold has to be able to withstand anything that is thrown at it & the QFS has to be completed, my friends.
We are looking at the CFTC being able to take us in soon, BUT as they have said in their own words yesterday: “as soon as technologically practicable.”
Going forward, connections to those who are actually creating the system in the field of technological development are the people who provide us with real Intel.
Everything else, is just simply getting the word around that everything is done & secondary intel.
What is going on behind the scenes in technological advancement is our path forward. The old world has passed away & all things are becoming new.
Let me introduce to you the new World Reserve Asset going forward. Ripple is the new dollar. When Ripple is set free backed by gold, so are we.Goldilocks: US-China Sanctions Are Coming.
ARTICLE: US to take aim at Chinese banks aiding Russia war effort.
Can you see how this is pushing the digital economy forward and new payment system especially in the east?
Goldilocks: CBI Banker in Iraq Contact:
Dee & I just finished a conversation with our CBI Banker in Iraq with ties to the Foreign Remittance Department.
Iraq is currently increasing the amount of Gold they hold that will support their currency.
Iraq is encouraging people to use a debit (Visa & Master) Card as much as possible, so they can get used to becoming a cashless society.
As far as a rate is concerned, they are looking to move from 1,310 to 1,000 soon.
Many new agreements have been signed with other countries to increase the demand for their currency as of late.
He expressed that they still need more goods to sell to increase their money velocity.
Iraq has not moved to a position of removing the three zeros on their currency just yet.
It was mentioned that they are still working with their Foreign Corresponding Bank to complete their banking reforms this year.Goldilocks: On CBI Website.
ARTICLE: Iraq is telling us on the CBI website that they are meeting their Financial Inclusion Requirements.
G20 has standard guidelines for what this means.
"Financial inclusion is measured in three dimensions: (i) access to financial services; (ii) usage of financial services & (iii) the quality of the products & the service delivery."-
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Go Ninja...Go RV.
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Here's another article related to the above...Pimpy says it's going to be a LOP...your 25K IQD will become the same value as the new 25 lower denoms note...
Pimpy: Community comment:
ARTICLE: “I believe there’s an article by Dr. Shabibi stating when the new currency does come out both currencies will coexist for up to 10 years…” Yes it was said it would coexist for 10 years. I don’t think it’s going to need 10 years…The last time they changed currency they only gave them three months. But even if it does coexist for 10 years…& they re-denominate…just because you still have the 25,000 Dinar doesn’t mean you get to exchange it 25,000 times whatever the exchange rate is. They’re going to treat your 25,000 dinar just like they would the 25 dinar. It might coexist but don’t be fooled into thinking you get to take advantage of the fact you have 3 extra zeros because that’s not going to happen…
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Here's another article related to the above...All the sudden, US Bonds are toxic..
FROM OTHER SOURCES: Treasuries Hold Losses After a $70 Billion Sale: Markets Wrap.
ARTICLE: The world’s biggest bond market remained under pressure after another jumbo-sized sale of Treasuries, with traders looking for clues on whether a turning point is in sight after this year’s record selloff.
Treasuries stayed lower after a $70 billion auction of five-year notes “tailed slightly.” The auction was awarded at 4.659%, slightly higher than the 4.655% yield in pre-auction trading at the 1 p.m. New York time bidding deadline — a sign that demand was a touch below expectations.
“Good stats despite small concession,” said Vail Hartman at BMO Capital Markets. “Treasuries were cheapening before the auction on lighter volumes. Since the result, we’ve seen little net change in the follow-through.”
Buoyed by strong economic data and persistent inflation, traders have sought higher yields for holding government debt as they revise down their expectations of Federal Reserve rate cuts for the year, according to Fawad Razaqzada at City Index & Forex.com. Following the big bond auctions, he says investors will shift their attention back to macroeconomics, with key readings on growth & inflation later this week.
“Unless these figures show weakness, there’s a possibility that bond yields may push further higher as investors reassess the likelihood of interest rate cuts,” he noted. “Such a scenario could pose a downside risk for risk assets.”
The S&P 500 halted a two-day rally. Meta Platforms Inc. dropped just hours away from its results. Tesla Inc. surged after chief Elon Musk vowed to launch less-expensive vehicles. The Yen weakened beyond 155 per Dollar, fueling intervention jitters.
Interest rates staying elevated longer, along with economic uncertainty & geopolitical turmoil have lessened the appeal of some of the stock market’s cheapest strategies.
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39 minutes ago, Hammerknocker said:
Same old Stank- feeding his flock already rehashed news that anybody can find in this site, if they would just take 5 minutes and form their own independent conclusions. He*% is slicker than the preachers d*%k up the calves a%s
Every single time Alaq or Sudani are on TV or in the mosques issuing statements...nobody can find any evidence records of them ever happening.
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Here's an article of Dinarian interests...
UST Praises CBI Actions in Washington.
Treat as a rumor. Not verified. Your opine.
FROM OTHER SOURCES: The US Treasury Praises The Actions Of The Iraqi Government & The CBI In The Washington Meetings.
ARTICLE: Samir Al-Nusairi: During the visit of the PM to Washington d his meeting, in the presence of the Governor of the CBI, with the UST delegation, & the negotiations that took place regarding the financial & banking reform strategy implemented by the government and the CBI, the American side emphasized its praise of the reform measures & steps, which resulted in organizing foreign trade financing & complying with international standards in 2023 & the past months of 2024 & to bridge part of the gap between the official price & the price equivalent to the Dinar exchange rate against the USD.
This refutes the criticisms, allegations & media exaggerations of some satellite channels by insulting the CBI & the banking sector & pointing out some violations in the issue of controlling the monetary Dollar, which were addressed at the time of the beginning of the application of the electronic platform.
What is important & what must be confirmed now is that 100% of the external transfers that were made were in accordance with the relationship. What is new between our banks & international correspondent banks, in accordance with the instructions & mechanisms of the electronic platform, are sound & transparent transfers in accordance with international standards, and that the window for selling foreign currency is an economic indicator that achieves one of the objectives of monetary policy.
“Accusing the CBI & banks of wasting foreign currency without evidence proving the existence of suspicions of corruption, money laundering, or currency smuggling & the proposition that says selling currency is a waste of public money is a description that has nothing to do with the economic process.”
It must be noted that “the process of the currency sale window began to be implemented by the CBI on 10/4/2004 in implementation of Article 28 of the CBI Law No. 56 of 2004, which allows the CBI to buy & sell foreign currency & this process has continued to meet the needs of the Ministry of Finance for currency.”
The local government, for the purposes of the operating budget, purchased the Dinar from the public for the purpose of controlling liquidity levels, which is known as the monetary sterilization process on the one hand & to recycle the Dinar and resell it to the Ministry of Finance for the purposes of paying salaries & wages, securing government expenditures, as well as meeting & covering imports, & maintaining the stability of the exchange rate targeted by the CBI.
“The foreign currency selling window is considered one of the largest open market operations in controlling local liquidity levels & putting the cash surplus on its proper paths. It is a good economic indicator & achieves one of the goals of monetary policy & this is consistent with the multi-dimensional functions that the CBI performs, as it is concerned with financial stability.”
It manages the payments system, manages foreign reserves, licenses & monitors banks & financial institutions & sets preventive controls, in addition to other tasks related to monetary issuance & publishing economic data, indicators & forecasts. “The basic tasks carried out by & achieve monetary stability.”
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3 minutes ago, DinarDavo said:
Nope. Nobody knows the date & rate until it comes out.
Anything else is guessing.
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Now for our daily dose of humor....Sweet RV dreams...
Some highlights by PDK-Not verbatim.
THREAD:
Member: Good evening Mark Mods & fellow RV’ers.
Member: One for the money two for the show three get ready for RV…. let’s go let’s go.
Member: I heard that the invention of the spoon was an important point in human history. It caused…quite a stir.
Member: It all sounds good but we are still waiting and wandering…. I sure hope we get some news that has teeth in it….
Member: With a lot of people under NDA s -that's good news.
MZ: That is great news. There are a number of high profile paymasters under an NDA now. Along with all the bondholders under NDA’s….This is exceptional news. Now we need to know “when” for the rest of us.
MZ: But, it’s fantastic & exciting to finally see some movement from some of the biggest of groups. There are also more & more bond confirmations that make me feel warm & fuzzy. We don’t know when they will be complete but am excited over the progress I am seeing.
Member: Are you under an NDA now Mark?
MZ: When I am- you won’t need to ask…I will tell you.
Member: You said Bond money is moving this morning. What does that mean for us as a timeline?
MZ: I don’t know exactly. That is what I am trying to pin down. But, I firmly believe it has started & cannot be stopped now.
Member: There is a rumor a contractor living in the US used his CBI card & the rate was about $3.91.
MZ: About a million of you sent that & payments for different contractors. But we are seeing those irregularities that I attribute to testing the system or priming the pump. Seeing how everything works together.
MZ: As we understand it the AI for the QFS is controlling things. If there is a value change on one…they have to see how it affects others. So to me- they are testing the system….or priming the pump to see how it works. The lucky ones chosen to do this just got one heck of a windfall.
Member: Do you believe the $3.91 story is real?
MZ: Yes I do believe it’s real But, I do not believe that is the rate everybody gets because I have talked to some with these debit cards in the US & they have not seen that rate change. Whereas others have…..so I think they are priming the pump & testing the system.
MZ: “ IMF issues warning to Biden Administration on out of control deficit spending.” We are watching things unfold in front of our eyes.
Member: Can u explain who actually pulls the trigger? Is it Iraq, IMF, military or U.S. getting so confused?
Member: At that level…we may never know for sure.
Member: Thanks to Mark& Zester…….everyone enjoy your evening…..sweet RV dreams.
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Here's an article of Dinarian interests...
CBI fines Iraqi banks over noncompliance.
Treat as a rumor. Not verified. Your opine.
From Other Sources: More Than 138 Billion Dinars In “Fines” Imposed By The CBI On Banks & Exchange Companies.
ARTICLE: The CBI announced on Tuesday that the fines imposed on banks & non-banking institutions (exchange companies) amounted to more than 138 billion Iraqi Dinars during the past three months.
A table of the bank, seen by Shafaq News Agency, showed that the fines imposed on banks & financial companies during the past three months, starting from January & until the end of last March, amounted to 138 billion, 377 million, 321 thousand, and 527 Dinars, indicating that “the fines It also included 49 administrative penalties for these banks & non-banking institutions, distributed between warnings, warnings & grace periods.
The table showed that “the month of January witnessed the highest fines on banks and non-financial institutions, as these fines reached 98 billion, 277 million, 722 thousand, & 62 Dinars, with administrative penalties amounting to 17 penalties, while the month of March witnessed the lowest fines, amounting to 5 billion & 462.” One million, 451 thousand & 344 Dinars with administrative penalties amounting to 15 penalties.”
The Association of Investors in the Iraqi Stock Exchange had criticized, in early June, the CBI’s increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.
CBI often criticized by the UST for not doing enough to end money laundering & auctions in efforts to stop the illegal USD transfers to Iran & terrorist organizations.
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Here's another article related to the above....Conflicting reports CBI says the ER will stay the same for a while after it stabilizes to 1,470...the Gurus say the RV process has started...Who's right...CBI or the Gurus...
FROM OTHER SOURCES: Parliamentary Finance Expects The Dollar ER To Stabilize Within Its Current Limits.
ARTICLE: A member of the Parliamentary Finance Committee expected the Dollar ER to stabilize at their current limits of 1,470 dinars.
Haitham Al-Zahwan told Al-Furat News Agency, "We expect that the Dollar ER will remain within these limits & prices."
He added, "We expect these prices to remain within the current rates, but we cannot witness a decline in them as long as there is currency smuggling.
The Governor of the CBI, Ali Al-Alaq, said in a televised interview followed by “Al-Iqtisad News” that “the current Iraqi government is very focused on the economic dimension & renaissance, & the expansion of infrastructure and services,” indicating that “this matter requires the presence of an active and effective financial sector that can To accompany, activate, organize finance, so this file goes hand in hand with the government’s plan within the framework of economic reform.”-
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I believe CBI gold & foreign currency holding are much higher than what's being made public.
CBI has a history of under reporting the real numbers. IMHO.
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Here's another article related to the above...let the games begin...
Jeff: Final Countdown!
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Here's an article of Dinarian interests...
The process of raising the value of the IQD is being worked on.
Treat as a rumor. Not verified. Your opine.
Frank26 via Iraq-Boots-On-The-Ground Report via FIREFLY: We Are Working On Raising The Value Of The IQD.
ARTICLE: [Alaq] is live & he is telling us be patient, we’re working on raising the value of the Dinar. He talked about how the IMF is helping & he talked about cleaning up the books…He wants us all to be patient.
FRANK: You have been reassured by the right people that you’re supposed to trust…You’re about to get a new exchange rate with new denominations of lower notes because there going to lift the three zeros...I’m excited for you…Let’s see what Sudani does next.
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19 hours ago, BETTYBOOP said:
I see Al Sudani has said they reached a satisfactory agreement with the us about the sanctioned banks
It's a step in the right direction.
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Here's some articles of Dinarian interests...
Iraqi Bank Reacts to Sudani's Washington Visit.
Treat as rumors. Not verified. Your opine.
From Other Sources: The First Iraqi Bank To Reap A Realistic Result From Al-Sudani’s Visit To Washington.
ARTICLE: The US International Development Finance Corporation (DFC) & the US Agency for International Development (USAID) signed a $50 million loan agreement for the National Bank of Iraq (NBI), with the aim of expanding access to finance for entrepreneurs.
PM Muhammad Shiaa Al-Sudani witnessed the signing ceremony of the agreement on the sidelines of the meeting of the Iraqi-American Supreme Coordination Committee in Washington.
This loan, which was attended by the CEO of the American International Development Finance Corporation, Scott Nathan & the Chairman of the Board of Directors of the National Bank of Iraq, Bassem Khalil Salem, is the first loan provided by the American International Development Finance Corporation to a commercial bank in Iraq.
From Other Sources: US International Development Allocates $50 Million To The National Bank Of Iraq To Finance Entrepreneurs In Iraq.
ARTICLE: The US International Development Finance Corporation (DFC) & the US Agency for International Development (USAID) signed a loan agreement worth $50 million for the benefit of the National Bank of Iraq (NBI), with the aim of expanding access to financing for entrepreneurs.
Iraqi PM Muhammad Shiaa Al-Sudani witnessed the signing ceremony of the agreement. On the sidelines of a meeting of the Iraqi-American Supreme Coordination Committee.
This loan, which was attended by the CEO of the American International Development Finance Corporation, Scott Nathan & the Chairman of the Board of Directors of the National Bank of Iraq, Bassem Khalil Salem, is the first loan provided by the American International Development Finance Corporation to a commercial bank in Iraq.
After signing the agreement, Al-Salem said: “We are proud to be the first commercial bank in Iraq to sign a loan agreement from the US International Development Finance Corporation and the US Agency for International Development & we see this partnership as an important step and a unique opportunity to support economic & investment growth in Iraq by enhancing the capabilities of Ruwwad.” businesses & increase their opportunities to obtain the necessary financing to support their projects.”
Al-Salem extended his thanks to the Iraqi PM, Muhammad Shiaa Al-Sudani, to His Excellency the Governor of the CBI, Dr. Ali Mohsen Al-Alaq & to the international financial institutions for their continued support for entrepreneurs & small & medium-sized companies, stressing the National Bank of Iraq’s commitment to achieving the two sides’ shared vision for progress & prosperity in the country, pointing out that this The agreement will be a strong incentive to achieve these goals.
CEO of the US International Development Finance Corporation, Scott Nathan, affirmed the company’s commitment to unleashing Iraq’s economic potential & empowering its private sector by providing meaningful financial support to small projects.
He said: “Today’s announcement is an important step in advancing our efforts. This investment will contribute to increasing access to… First-time female borrowers & entrepreneurs access financing across Iraq.”
From Other Sources: Surpassing Saudi Arabia…Iraqi Oil Exports To America Increased During The Past Week.
ARTICLE: The US Energy Information Administration announced on Sunday that Iraq’s oil exports to America rose over the past week.
The administration said in a table seen by Mawazine News, “The average US imports of crude oil during the past week from 8 major countries amounted to 4.832 million barrels per day, down by 265 thousand barrels per day compared to the previous week, which amounted to 5.097 million barrels per day.”
She added, “Iraq’s oil exports to America came in second place after Canada, reaching 308,000 barrels per day last week, an increase of 166,000 barrels per day from the previous week, which reached 142,000 barrels per day.”
The administration also indicated that “the majority of America’s oil revenues during the past week came from Canada at an average of 3.458 million barrels per day, followed by Colombia with an average of 246 thousand barrels per day & from Saudi Arabia at an average of 229 thousand barrels per day.”
According to the table, “the amount of American imports of crude oil, from Mexico, was at a rate of 208 thousand barrels per day, from Brazil at a rate of 189 thousand barrels per day, from Nigeria at a rate of 173 thousand barrels per day & from Libya at a rate of 21 thousand barrels per day.”
From Other Sources: The Dollar Declines Against The Dinar In Baghdad & Erbil.
ARTICLE: The exchange rates of the US Dollar decreased this morning, Sunday, in the markets of Baghdad & Erbil.
Dollar prices dropped with the opening of the Al-Kifah and Al-Harithiya stock exchanges, recording 147,200 dinars for every 100 Dollars.
While the selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 148,250 Dinars, while the purchasing price reached 146,250 Dinars for every 100 Dollars.
As for Erbil, the Dollar also recorded a decline in exchange shops, as the selling price reached 147,150 Dinars against the Dollar & the purchase price reached 147,000 Dinars against 100 Dollars.
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Which Guru do you believe...
One says no big screens & announcement...the other says there will be.
3 minutes ago, BETTYBOOP said:And there is Frank's out....the time was past. Total bs! I personally don't think we will see and international rate until they are ready to stop the auctions
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The RV-RI must be very close...
We are getting more education.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: This is exactly what the monetary reform has been teaching you... Now your prime minister said it. As far as I'm concerned it's over and it's done. Just have to wait now.
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Here's some articles breaking down & explaining a brief history of EO 13303 & DFI.
Treat as rumors. Not verified. Your opine.
From Other Sources: Bush Signed It & All Presidents Implemented It. DFI Have Been Under America’s Guardianship For 21 Years.
ARTICLE: USA President George Bush Signing An Executive Order 13303.
Successive American administrations are still renewing the implementation of the presidential executive order issued by former President George W. Bush regarding the protection of the “Development Fund for Iraq”, in which the proceeds of oil sales were deposited with the aim of protecting it from any legal prosecutions, in addition to other orders related to Iraq & aiming to protect its money.
This happened more than two decades after the regime changed in the country.
The current US President, Joe Biden, signed the decree extending the state of national emergency related to the situation in Iraq for another year, which stated: “There are still obstacles to the orderly reconstruction of Iraq, restoring & maintaining peace & security in the country & developing political, administrative & economic institutions in Iraq.””
The statement added that these obstacles “pose an extraordinary threat to the national security & foreign policy of Iraq & the US as well.
Executive Order 13303.
ARTICLE: The executive order aims to protect the Development Fund for Iraq & some other properties in which Iraq has an interest. According to the text of the executive order, then-US President George W. Bush saw that there was a threat to seize or take other judicial measures against the Development Fund for Iraq, Iraqi oil & petroleum products & the revenues that arise. about her”.
The executive order also stated that this situation “poses an extraordinary threat to the national security & foreign policy of the US & therefore a national emergency has been declared to deal with this threat.”
The order stipulates that any seizure, judgment, decree or other judicial action against the Development Fund for Iraq or Iraqi oil & petroleum products & the proceeds & obligations relating to their sale or marketing, shall be considered null & void.
The executive order prohibits all US citizens & residents of the US, as well as any entity organized under US laws, from filing lawsuits against Iraqi funds.
According to the US National Emergency Law, failure to renew the executive order within a period of 90 days from the date of the previous renewal means that it will become invalid.
Development Fund For Iraq.
ARTICLE: The Development Fund for Iraq was established after 2003 & before that, money from Iraqi oil sales was placed in an account managed by the United Nations within what is known as the Oil for Food Program.
In the mid-nineties of the last century, the UN Security Council resolution related to oil for food was issued & stipulated the sale of a portion of Iraqi oil in exchange for the purchase of medicines & food during the era of Saddam Hussein’s regime, which suffered international sanctions as a result of its invasion of Kuwait in 1990.
This situation continued until 2003, when a new Security Council resolution was issued under which most of the economic sanctions were abolished, provided that issues related to the invasion of Kuwait were resolved, such as compensation, prisoners & others.
In this regard, Iraqi writer & political researcher Aqeel Abbas said, “When the sanctions were lifted, a problem arose, which is that there are cases filed against Iraq by dozens or hundreds of companies that were harmed by Iraq’s invasion of Kuwait in European countries & others.” Abbas added to the Al-Hurra website that “Iraqi embassies at the time did not attend court sessions to defend or reduce compensation & thus the courts issued judgments in absentia for very high amounts.” Abbas, who resides in Virginia, confirmed that “there are judicial seizure orders on Iraqi funds until the amounts of the lawsuits ruled by the courts are satisfied.”
“Thus, what saved Iraq from these lawsuits was the protection decision issued by former US President George Bush in 2003,” according to Abbas, who pointed out that “under the presidential executive order, Iraqi funds in the Development Fund for Iraq became protected as if they were American funds.”
American Influence.
ARTICLE: In 2010, the Development Fund for Iraq was canceled by a UN decision, which also ended all international guarantees of immunity granted to Iraq from claims for compensation.
Instead of the canceled fund, an account affiliated with the CBI was opened at the US Federal Bank in which all proceeds from the sale of Iraqi oil were placed.
However, the US continued to renew the presidential executive order, issued in 2003, annually with the aim of protecting Iraqi funds from any judicial prosecutions.
The former member of the Iraqi Parliament’s Finance Committee, Ahmed Hama Rashid, said, “The situation remaining as it is means that the fate of Iraq’s money will remain tied to the US, which represents a strong pressure card in the hands of Washington,” indicating that “this issue cannot be resolved except by paying all debts.” “This will take years, if not decades.”
On the other hand, Aqeel Abbas pointed out that linking the issue of protecting Iraqi funds from prosecution to the US“gives Washington great influence over Baghdad,” adding that “resolving the crisis requires a political decision, as happened with Greece & Argentina, for example, by seeking the help of a reputable & reputable law firm.” “She is given full powers.”
The spokesman for the Iraqi PM apologized for the comment & it was not possible to obtain a comment from the WH or from the US State Department until the publication of this report, according to the Al-Hurra channel.
The Ministry Of Finance Specifies Steps That Must Be Taken Before Canceling The Currency Selling Window In Iraq.
ARTICLE: Dollar selling window: The Parliamentary Finance Committee confirmed, on Saturday, that the CBI had taken a decision to cancel the currency sale window, indicating the necessity of taking steps prior to implementing this decision.
Member of the Parliamentary Finance Committee, Hussein Moanis, told Shafaq News Agency, “There is a decision issued by the CBI to cancel the window for buying & selling foreign currency in the year 2024, but it did not specify the exact time to start the decision.”
He explained that “canceling the currency selling window is linked to the reliance of private banks on correspondence with international banks & the method of currency conversion.”
This comes after the CBI gave up its status as a “correspondent” & granted it to several foreign banks, a step with unclear definitions & results, & some observers have warned against it.
In November 2023, the Governor of the CBI, Ali Al-Alaq, announced the start of importing Dollars into the country through Iraqi bank accounts abroad.
Munis asserts that “this step must be preceded by an increase in the classification of Iraqi banks & this is what qualifies them to deal with international banks, but the real problem that we face is that Iraqi banks do not have a correspondent & are not accredited outside the country.”
The member of Parliamentary Finance pointed out that “the government & the CBI are seeking to strengthen & increase the classification of private banks,” indicating “an intention by the banks to engage in correspondence & external transfers.”
The Governor Of The Iraqi Central Bank Reveals The Amount Of The Bank’s Reserves Of Dollars And Gold.
ARTICLE: The Governor of the CBI, Ali Al-Alaq, revealed the amount of the bank’s reserves of US Dollars & gold.
Al-Alaq told the CNBC Arabic website that the CBI has a foreign reserve of more than 100 billion Dollars, indicating that the bank’s gold reserves amount to more than 130 tons, most of which are located in England.
Speaking about Iraqi foreign trade, Al-Alaq pointed out that the volume of trade with the UAE amounts to 17 billion Dollars & is paid in UAE Dirhams, pointing out that the First Abu Dhabi Bank is the one responsible for the trade transfers in UAE Dirhams.
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1 hour ago, screwball said:
Yep…Turkey tried it many times and failed because they never adjust their rate and export shite…many countries have tried it and failed…Removal of zeros must come with rate adjustment…
Yup.
Turkey had inflation running at 100% a month in the 80s.
A LOP was all they had to work with.
Iraq does not have an inflation problem.
A much different scenario than Turkey.
Iraq has no desperate reason or need to LOP.
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Why The IQD Cannot Float: A Float Is Out Of The Question.
in Dinar Rumors
Posted
FROM OTHER SOURCES: The Most Difficult Option.. Warnings Of The Danger Of Floating The Iraqi Dinar Without Achieving An “Important Condition”
ARTICLE: Economist Nabil Al-Marsoumi warned today, of the dangers of floating the Iraqi Dinar, noting that such a step could lead to the Dinar witnessing a violent collapse & rampant inflation that would jump prices to insane levels.
Al-Marsoumi said in a post on the social networking site “Facebook”, followed by “Baghdad Today”, that “some are proposing a solution to address the double price of the Dollar against the Dinar & the existence of a large gap between the official & parallel prices through a free float of the Iraqi Dinar,” indicating, “i.e. Turk.”
The Dinar is in the market to find its price against foreign currencies through the interaction of the forces of supply & demand. Al-Marsoumi added, “Such a decision has some economic positives,” adding, “But the economy should not be taken in its abstract aspect, but rather insofar as it relates to people, especially the poor.”
He continued, “In light of Iraq’s lack of a national private sector that could contribute to increasing the supply of Dollars in the Iraqi market &
because of the large volume of imports, which reach 67 billion Dollars annually, the only party that owns the Dollar is the government,” explaining that “in the event that the government decides not to intervene.” In the exchange market, it is expected that the Dinar will witness a violent collapse & rampant inflation that will cause prices to rise to insane levels that will cause severe damage to citizens’ living standards & the poor will become more miserable & will later lead to social tensions & a major rift in the social peace.”
It is noteworthy that the floating exchange rate or currency float is the currency exchange rate that has been floated so that it has become completely liberalized, so the government or the central bank does not interfere in determining it directly, but rather it is released automatically in the currency market through the supply & demand mechanism that allows the price to be determined. Exchange the national currency against foreign currencies.
It is worth noting that the price of the Dollar in the local markets is still experiencing a state of instability between rises & falls, even though the official price in the CBI is 132,000 Dinars per 100 Dollars, but in the local markets it is witnessing an increase of more than ten points & may at times reach double this.
The number is despite the numerous measures & packages launched by the CBI, where some attribute that the reason for this confusion in prices is the result of smuggling operations & speculation in the black market for currency.
FROM OTHER SOURCES: Parliamentary Integrity Reveals An Agreement With Interpol To Recover Fugitive Corrupt People.
Here's some articles of Dinarian interests...
A float is out of the question.
Iraq goes after the corrupt funds.
Treat as rumors. Not verified. Your opine.
FROM OTHER SOURCES: The Most Difficult Option.. Warnings Of The Danger Of Floating The Iraqi Dinar Without Achieving An “Important Condition”
ARTICLE: Member of the Parliamentary Integrity Committee, Abdul Amir Al-Mayahi, revealed new moves to proceed with amending the election law again, noting that Parliament is coordinating an agreement between the Iraqi & international Interpol to arrest fleeing corrupt people.
Al-Mayahi said in an interview followed by Mawazine News: “There is an agreement between the Iraqi Interpol & the International Interpol, to pursue any wanted person in any country, in an effort by the Iraqi Interpol to arrest the wanted persons & hand them over to the Iraqi government & there is effective coordination with Interpol in this regard.” He added.
“The Integrity Committee works independently & seeks to collect the required documents regarding those accused of corruption & upon obtaining proof, the committee will work to request hosting the concerned official if he is present inside the country, while submitting recommendations to the relevant authorities.”
He continued, “The committee is not responsible for prosecuting the wanted individuals.” On charges of corruption outside the country, it is the responsibility of the Federal Integrity Commission & the Iraqi & international Interpol if there are arrest warrants for certain figures of state employees who have committed corruption & of the Integrity Commission or the Public Prosecution.”