Friday – The CBI announces “financial stability” for Iraq. [The establishing of a government should be all that’s left?]
Iraqi president, Masoum, receives a special US envoy whose purpose was to support the “stability of Iraq” and continue to provide assistance as per previous agreement.
Iraq is discontinuing the use of US dollars for trade transactions with Iran and will use the Euro, the Rial and the Dinar. The 2% compliance issues are no longer a concern.
16 political parties agreed to form a coalition of “reform and construction” which was announced as the most powerful Parliamentary block, calling themselves the “Alliance.”
On Monday, the new session of Parliament opened, deputies took their oath of office, and then recessed for the day. They will resume on Tuesday to elect the presidencies and other matters.
[On the surface, financial stability and a stable government seem to prevail……let’s see the CBI’s next move.]
3 April 2018 Whitelions: Is it time to delete three zeros from the currency? The central bank submitted a project to delete three zeros of the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deteriorating security and political situation in the country.
The governor of the Central Bank, Ali al-Alaq, in a discussion session with the editors of a number of Iraqi media, including “Economy News”, “The subject of deleting zeros from the currency is ready, but it needs an environment suitable to apply,” noting that ” To prevent manipulation and fraud by the owners of weak souls. ”
In another news article stated that Iraq ranks 5th in the world with the most gold reserves.
Iraq can back most of it's currency with gold before & after RV.
20 July 2017 Enorrste...
We have an actual CBI spokesman claiming that their reserves are 3x the amount of cash inncirculation.
Their cash in circulation is IQD 57 Trillion or about $50 Billion.
Sounds to me like they may have 100% coverage of their currency
Which is good by any standard but how he comes uo with 3x, I don't understand.