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Iraqi Central Bank Governor Is Collaborating With Iran In Counterfeiting, Money-Laundering – As Part Of Iran's Efforts To Circumvent U.S. Sanctions

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3 hours ago, Synopsis said:

HEY, HEY, HEY EVERBODAE’!!!

 

ALL Good News HERE!!!

 

THOSE nominally 37 TRILLION Bicraqi Iraqi Dinar proverbially  UNDER the Bicraqi Iraqi MATTRESSES ALL Insanian COUNTERFEIT Bicraqi Iraqi Dinar???!!!

 

JUST a FLIP OF THE SWITCH to INTERNATIONAL Bicraqi Iraqi Dinar AND the Insanian Bicraqi Iraqi Financial Corruption GOES AWAY!!!!!!!!!!!!!!!!!!!!

 

:backflip:       :backflip:       :backflip:

 

The Bicraqi Iraqi WILL BE ALL Upset AND Irrate WITH the Insanians in Iraq AND “boot” the Insanians OUT BECAUSE of ALL the WORTHLESS COUNTERFEIT Insanian Bicraqi Iraqi Dinar put IN circulation IN Iraq BY the Insanians!!!

 

Go Moola Nova!

:pirateship:

@Synopsis So glad you're deep into this! Great thought!! 🙂 My signature line on this site says "Perspective is reality, then there is truth!! Make them one in the same" Thankyou for a perspective we pray is the truth!!! 🙏

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This is what I'm afraid of - 2 days to go before the end of the first quarter, and then April Fool's Day.

 

I would be really happy NOT to be fooled by Iraq again.

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25 minutes ago, Floridian said:

This is what I'm afraid of - 2 days to go before the end of the first quarter, and then April Fool's Day.

 

I would be really happy NOT to be fooled by Iraq again.

 

I have been on this train wreck for close to 16 yrs. now. The day I got in the person convinced me saying " hurry and get in, suppose to RV in about 2 months !!  ) and here we sit.  :)  and was not even an Iraqi

 

nuff said ! LOL

 

  pp

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I was thinking🤔 a little more about this article.

 

If the CBI is helping Iran to circumvent the US sanctions why a few days ago

they enforced this laws?

 

This is contradictory to me.

 

Iraqi Central Bank law , judgments of the person who coined or prescribed to prepare counterfeit money Mint a fine of 50 million dinars and imprisonment. 

Article 50 (Preparation) stipulates that anyone who hires or initiates the preparation of false money for committing a felony punishable by law shall be liable to pay a fine not exceeding 50 million dinars or Imprisonment for a term not exceeding 5 years or both.

According to the Central Bank, Article 51 (possession) of the law considered that any person who intentionally knowingly cheating (buying, accepting or offering to buy, accept or acquire) was brought to Iraq) Counterfeit money for a crime punishable by law to pay a fine not exceeding 50 million dinars or imprisonment for a period not exceeding 5 years or both.

Article 52 (Promotion of counterfeit money) of the Act, paragraph (1), is that any person intentionally knowingly cheating (the promotion of counterfeit money or his willingness to promote counterfeit money or to use it as an original money, export, send or accept counterfeit money outside Iraq) The perpetrator of a felony punishable by law shall be liable to a fine not exceeding 100 million dinars or imprisonment for a period not exceeding 10 years or both. 
 
Article 53 (token money and coin-like coins) provides that any person who knowingly knows (manufacturing, producing, selling or possessing) any object intended to be used for fraud acts in lieu of coins or coins designed to Shall be guilty of a felony punishable by a fine of not more than (25) million dinars or imprisonment for a period not exceeding two years or both.

 

We also know the CBI has been removed from AML / CFT list

We know lots of ghost companies has been removed from 

the daily auction

We know people who want to travel out of Iraq  needs to

show his passport and plane ticket to get dollars from the CBI

We know the auctions when down from $300 millions daily 

to $150 to 200 million 

 

Go misinformation 

Go confusion 

Go RV

Go $1:1

 

 

 

 

 

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The Fat  Lady has left town in hunt of a better gig.  Waiting for the HCL and witnessing Iran’s insurrection via money laundering has left her no choice but to hitch a ride with the Oscar Mayer Weiner Mobile

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51 minutes ago, wc41 said:

@Synopsis So glad you're deep into this! Great thought!! 🙂 My signature line on this site says "Perspective is reality, then there is truth!! Make them one in the same" Thankyou for a perspective we pray is the truth!!! 🙏

 

:twothumbs:, WC41, AND The Very Best Of Your Weekend To You!!! :tiphat:

 

I have MY DEPENDS handy, do YOU???!!! :lmao:

 

Maybe BABY give a few days PAST April Fool's Day for ALL to transpire THROUGH the systems!!! :twothumbs:

 

Hey, Hey, Hey, EVERYBODAE'!!!

 

Lookie HERE:

 

image.png.4fff1b2e246decef217d9dcb1829459e.png

 

https://quotes.ino.com/charting/?s=NYMEX_CL.K19

 

WTI Dude Oil Futures TOPPED $60/barrel for THE WEEKEND!!!

 

Maybe BABY a portent of GOOD THINGS/GOOD NEWS to come being in the "Green" "Zone"???!!!

 

I'll be cautiously tempered - waiting for @Adam Montana's "fabled" "RV" "Text"!!! :o

 

In The Mean Time...............................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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Adam has been very quiet this week. Can't wait to hear his take on the latest developments!!!

 

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23 minutes ago, pokerplayer said:

 

I have been on this train wreck for close to 16 yrs. now. The day I got in the person convinced me saying " hurry and get in, suppose to RV in about 2 months !!  ) and here we sit.  :)  and was not even an Iraqi

 

nuff said ! LOL

 

  pp

 

Nearly 16 years .... how’s it feel to be “ an old timer ?” .... Old Timer. 😀

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22 minutes ago, pokerplayer said:

 

I have been on this train wreck for close to 16 yrs. now. The day I got in the person convinced me saying " hurry and get in, suppose to RV in about 2 months !!  ) and here we sit.  :)  and was not even an Iraqi

 

nuff said ! LOL

 

  pp

 

OMG!  16 years?  I thought 10 YL was in this the longest.  I would be crazy by now, after 16 years.

I'm half crazy after almost 9 years.  So tired of it!  

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21 minutes ago, Laid Back said:

I was thinking🤔 a little more about this article.

 

If the CBI is helping Iran to circumvent the US sanctions why a few days ago

they enforced this laws?

 

This is contradictory to me.

 

Iraqi Central Bank law , judgments of the person who coined or prescribed to prepare counterfeit money Mint a fine of 50 million dinars and imprisonment. 

Article 50 (Preparation) stipulates that anyone who hires or initiates the preparation of false money for committing a felony punishable by law shall be liable to pay a fine not exceeding 50 million dinars or Imprisonment for a term not exceeding 5 years or both.

According to the Central Bank, Article 51 (possession) of the law considered that any person who intentionally knowingly cheating (buying, accepting or offering to buy, accept or acquire) was brought to Iraq) Counterfeit money for a crime punishable by law to pay a fine not exceeding 50 million dinars or imprisonment for a period not exceeding 5 years or both.

Article 52 (Promotion of counterfeit money) of the Act, paragraph (1), is that any person intentionally knowingly cheating (the promotion of counterfeit money or his willingness to promote counterfeit money or to use it as an original money, export, send or accept counterfeit money outside Iraq) The perpetrator of a felony punishable by law shall be liable to a fine not exceeding 100 million dinars or imprisonment for a period not exceeding 10 years or both. 
 
Article 53 (token money and coin-like coins) provides that any person who knowingly knows (manufacturing, producing, selling or possessing) any object intended to be used for fraud acts in lieu of coins or coins designed to Shall be guilty of a felony punishable by a fine of not more than (25) million dinars or imprisonment for a period not exceeding two years or both.

 

We also know the CBI has been removed from AML / CFT list

We know lots of ghost companies has been removed from 

the daily auction

We know people who want to travel out of Iraq  needs to

show his passport and plane ticket to get dollars from the CBI

We know the auctions when down from $300 millions daily 

to $150 to 200 million 

 

Go misinformation 

Go confusion 

Go RV

Go $1:1

 

 

 

 

 

excellent take. Could it be it is the old "Do as I say, not as I do" at work here? Different rules for different fools.

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2 minutes ago, 10 YEARS LATER said:

 

Nearly 16 years .... how’s it feel to be “ an old timer ?” .... Old Timer. 😀

 

 Earned everyone of these gray hairs 10YL LOL, when you comment about how long you have been in I can definetly understand being in that long as well. I would love to slap some sense into these dumb carpet baggers, but all it would do is put a puzzles look on there dumb azz faces.

 

  pp

 

5 minutes ago, Floridian said:

 

OMG!  16 years?  I thought 10 YL was in this the longest.  I would be crazy by now, after 16 years.

I'm half crazy after almost 9 years.  So tired of it!  

 

Hear ya, the phyco ward lets me out on week-ends if I'm good during the week and don't fly off the handle when reading Iraqi news... so far I only got out twice the last 10 yrs.  LOL

 

  pp

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"On March 11, 2019, the Saudi news outlet Alarabiya.net, which is known for its anti-Iran views, published a report that...."

 

Anyone consider that this is just some Saudi propaganda hogwash?  

 

Go on, tell me you haven't seen outright lies in their articles.  Go on.

 

We always need to first consider the source before we accept info as gospel truth.  This info could be true.  Maybe not at all.

 

Just sayin'.....

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32 minutes ago, Laid Back said:

I was thinking🤔 a little more about this article.

 

If the CBI is helping Iran to circumvent the US sanctions why a few days ago

they enforced this laws?

 

This is contradictory to me.

 

Iraqi Central Bank law , judgments of the person who coined or prescribed to prepare counterfeit money Mint a fine of 50 million dinars and imprisonment. 

Article 50 (Preparation) stipulates that anyone who hires or initiates the preparation of false money for committing a felony punishable by law shall be liable to pay a fine not exceeding 50 million dinars or Imprisonment for a term not exceeding 5 years or both.

According to the Central Bank, Article 51 (possession) of the law considered that any person who intentionally knowingly cheating (buying, accepting or offering to buy, accept or acquire) was brought to Iraq) Counterfeit money for a crime punishable by law to pay a fine not exceeding 50 million dinars or imprisonment for a period not exceeding 5 years or both.

Article 52 (Promotion of counterfeit money) of the Act, paragraph (1), is that any person intentionally knowingly cheating (the promotion of counterfeit money or his willingness to promote counterfeit money or to use it as an original money, export, send or accept counterfeit money outside Iraq) The perpetrator of a felony punishable by law shall be liable to a fine not exceeding 100 million dinars or imprisonment for a period not exceeding 10 years or both. 
 
Article 53 (token money and coin-like coins) provides that any person who knowingly knows (manufacturing, producing, selling or possessing) any object intended to be used for fraud acts in lieu of coins or coins designed to Shall be guilty of a felony punishable by a fine of not more than (25) million dinars or imprisonment for a period not exceeding two years or both.

 

We also know the CBI has been removed from AML / CFT list

We know lots of ghost companies has been removed from 

the daily auction

We know people who want to travel out of Iraq  needs to

show his passport and plane ticket to get dollars from the CBI

We know the auctions when down from $300 millions daily 

to $150 to 200 million 

 

Go misinformation 

Go confusion 

Go RV

Go $1:1

 

 

 

 

 

 

Well, Laid Back, I have to admit you're right about this law.  This is a conundrum!

Why pass such a law and allow Iran to bring in counterfeit Dinar at the same time?  Nothing about that crazy country makes any sense.

I don't know what to think, anymore.

 

This just came to me:

Could they mean FROM NOW ON, no more counterfeiting, but if you did it before we'll let it slide?

 

Edited by Floridian
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54 minutes ago, Synopsis said:

 

:twothumbs:, WC41, AND The Very Best Of Your Weekend To You!!! :tiphat:

 

I have MY DEPENDS handy, do YOU???!!! :lmao:

 

Maybe BABY give a few days PAST April Fool's Day for ALL to transpire THROUGH the systems!!! :twothumbs:

 

Hey, Hey, Hey, EVERYBODAE'!!!

 

Lookie HERE:

 

image.png.4fff1b2e246decef217d9dcb1829459e.png

 

https://quotes.ino.com/charting/?s=NYMEX_CL.K19

 

WTI Dude Oil Futures TOPPED $60/barrel for THE WEEKEND!!!

 

Maybe BABY a portent of GOOD THINGS/GOOD NEWS to come being in the "Green" "Zone"???!!!

 

I'll be cautiously tempered - waiting for @Adam Montana's "fabled" "RV" "Text"!!! :o

 

In The Mean Time...............................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

Love this @Synopsis Definitely standing by for AM's comunique 😄

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4 hours ago, keylime said:

I don't think, in light of this report, that we will see the Dinar RV until we see an article that this corrupt CBI Governor has been arrested and replaced. But with both the Iraqi President and Prime Minister all in on building this banking relationship with Iran, good luck with that happening. Can you say HUGE step back?

I would have to agree here. Sadr has been missing in action too, voice of the people. Lets see what happens  but they have for sure been busted out. 

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50 minutes ago, Floridian said:

 

OMG!  16 years?  I thought 10 YL was in this the longest.  I would be crazy by now, after 16 years.

I'm half crazy after almost 9 years.  So tired of it!  

There is a couple of us 16+ folks here. Hoping i am here to see this happen. I want to drink from the crazy train too. :lol:

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1 minute ago, ChuckFinley said:

There is a couple of us 16+ folks here. Hoping i am here to see this happen. I want to drink from the crazy train too. :lol:

 

You too, Chuck?

WOW!  I didn't realize so many people have been in this for so long.  

All you guys and gals really have a lot of patience. 

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3 minutes ago, Botzwana said:

I think this is propaganda from Iran myself.  China just signed a 500 biillion contract with Iraq....Do you guys think China is stupid?  The U.S. is highly involved in all things Iraq.  There is no way Iraq, overnight, just fell to Iran.  It is ridiculous.  We have fake CNN news in the U.S. but ya dont think this exists in the middle east?

The man in the mask speaks with reason.

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6 minutes ago, Botzwana said:

I think this is propaganda from Iran myself.  China just signed a 500 biillion contract with Iraq....Do you guys think China is stupid?  The U.S. is highly involved in all things Iraq.  There is no way Iraq, overnight, just fell to Iran.  It is ridiculous.  We have fake CNN news in the U.S. but ya dont think this exists in the middle east?

Good call @Botzwana Looking at all things 'Big Picture' really keeps it all 'in perspective' thus all the good momentum Adam just spoke about!! Thanks for your recall on events!!! 😃

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22 minutes ago, Botzwana said:

I think this is propaganda from Iran myself.  China just signed a 500 biillion contract with Iraq....Do you guys think China is stupid?  The U.S. is highly involved in all things Iraq.  There is no way Iraq, overnight, just fell to Iran.  It is ridiculous.  We have fake CNN news in the U.S. but ya dont think this exists in the middle east?

And we finally have a winner! You are absolutely correct this has got Maliki and all his owned news media written all over it! Just like 90% of the fake news we have here in the U.S. people tend forget about all the Maliki owned media there and all of their deep state manipulating all their news!! Come on GreedyDinar07 one article and it’s supposed to be taken as gospel...lol... hey I get it as well been in this since 2005 myself but I promise you that one article is BS and that you can take to the bank!!  Lol

Edited by Dinarrock
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Another opinion by someone who studies the ME

Iraq’s choice: US air strikes or Iranian air conditioners?

by Tanya Goudsouzian, 19 March 2019

Iraq’s choice: US air strikes or Iranian air conditioners?

 
PNG - 331.9 kb

As American delegations swoop in and out of Iraq attempting to persuade, cajole or bully Iraqi politicians to limit relations with Iran, there is a running joke in the region: ‘With summer around the corner, must we choose between American air strikes and Iranian air conditioners?’

As ISIS is afar in Syria and no longer an existential threat to Iraq, this is hardly a choice. In fact, the choice may not be in Baghdad at all, but in Washington: demand that Iraq adheres to draconian Iranian sanctions and let people from Basra (in the south) deep-fry again this summer; or embrace a broader strategy that relies less on military support and diplomatic demands, and more on humanitarian, commercial and economic assistance.

The first (let them fry) will lead to more unrest and further calls for the US forces to leave; the latter could help to reverse the trend of declining American influence.

In the battle for influence, the US is being challenged by an increasingly ambitious Iran which sees Iraq as a (re)developing country, not as a proxy battlefield with the US. While it has provided significant military support in the anti-ISIS fight, Tehran has recently shifted its focus towards broadening its relations with Baghdad. Iranian President Hassan Rouhani’s first visit to Baghdad on 12-13 March was billed by mainstream western media as an attempt to increase its influence in Iraq, and regional media spoke of the Islamic Republic’s aspirations to deepen economic ties and ‘strengthen brotherly ties’.

And then there were the unassailable optics of the trip. It was hard not to compare Rouhani's daylight trip, touring every part of Iraq and warmly greeting Iraqi politicians and clerics, to Donald Trump’s clandestine three-hour nighttime visit to Al-Asad airbase in Baghdad last December, which did not involve any meetings with Iraqi leaders. Rouhani earned praise for boosting business and diplomatic relations; Trump earned opprobrium for violating Iraqi sovereignty and disrespecting national leaders.

Worse, Trump’s widely panned gaffe on 3 February about using US troop presence in Iraq surprise visit was seen as a further affront to Iraqi sovereignty and drew condemnations from across the Iraqi political spectrum. Another surprise visit this time by Acting US Defense Secretary Patrick Shanahan in an apparent bid to patch up the damage, did little to help. And Shanahan’s efforts were insufficient to deter the influential political blocs Sairoon and Fatah from drafting a bill calling for the eviction of all foreign troops from Iraq.

If the US is trying to maintain or enhance its influence in Iraq, there is a significant disconnect between its words and actions. While its words may speak of a strong bilateral relationship, its actions suggest that Washington’s concerns are not to address the needs of Iraq, but to use Iraq as a platform to carry out US policy against Iran that is best described as ‘Iran foe: Iraq pawn’. Any irony seems lost on Washington.

Money talks louder than ultimatums

What also seems to be lost on Washington is the level of popular discontent throughout Iraq and the potential for follow-on instability. From mid-July to the end of 2018, violent protests swept across Basra and Baghdad as people lamented the absence of employment opportunities and basic services. ISIS was, and is, low on the list of concerns, especially as victory had been declared in December 2017. With few significant attacks, bombings or televised atrocities, ISIS seems a distant problem. Basic services, by contrast, are problematic, immediate and widespread.

Yet, the Americans continue to trumpet their accomplishments in the war against ISIS and, although the fight has moved on from Iraq to Syria, still believe the anti-ISIS coalition retains enough leverage with the people of Iraq to not only justify a continued US military presence in the country but for Iraq to join with the US to ‘keep an eye on Iran’. For the Iraqis, drinking fetid water and sweltering in the heat, and for the leaders who carefully calculate the threat of popular discontent, these are the most important and most immediate problems. While this may be lost on the US, it is not lost on the Iranians, the Chinese, and a host of other countries which see leverage in humanitarian assistance, reconstruction, economic development and government grants.

Indeed, for average Iraqis, the equation is simple. US military support does nothing to improve basic services or quell popular discontent. Iraq relies on foreign countries for financial and economic assistance, and depends on Iran for day-to-day needs from fresh produce to natural gas and automobiles – trade which has grown to almost $12 Billion a year. For energy needs alone, despite US efforts to push for Saudi Arabia to replace Iran as a supplier to meet Iraq’s energy needs, the solution is years away. The need is now.

‘The [US] ultimatum is not going to work because Iraq’s situation is more than black and white,’ said Farhad Alaaldin, chairman of the Iraq Advisory Council and former political advisor to President Fuad Masum. ‘Iraq needs Iran and has strategic relations with it, long border, common culture, common faith and shared interest, but also desire to be independent if it can help it. Breaking Iraq away from Iran takes a lot more than just waving a stick.’

According to Ali Allawi, a former minister of both trade and finance, the US approach is ‘a losing strategy because there is no long-term basis of US support outside of the Kurdish area.’ By contrast, ‘Iran has a large natural constituency of support inside the country and have made themselves indispensable players across all of Iraq’s communities,’ he said. ‘The Chinese wield huge economic power and are able to marshal it and focus it on specific programs and projects that are of interest to Iraq.’

 

For example, in May 2018, the Iraqi oil ministry and China’s ZhenHua oil company signed a contract to develop part of the East  Baghdad Oil Field. Earlier this month, Iraq and China were reportedly set to finalise a major bilateral agreement that would give investors access to roughly $10 billion worth of financing. An infusion of foreign investment of this magnitude is expected to help prop up the Iraqi economy and fund much needed reconstruction projects in the country, and adds another major player in the battle for influence.

Short term victory, long term defeat

If the US merely seeks to use Iraq as an element in its anti-Iran strategy, there is little benefit to expanding its assistance efforts in Iraq. Yet if America is genuinely interested in retaining a first-among-equals influence with Iraq, there has to be a major shift in its approach. Military support alone (perhaps tempered with a bit of nostalgia and guilt for assistance in days long past) is a losing strategy.

‘The US has to carve for itself a mutually supportive relationship with Iraqi political parties and groups,’ said Allawi. ‘A longer term strategy is to preside over the economic regeneration of the country. However, unlike the Far East experience, Iraq’s economic regeneration cannot be based on access to US markets or the inflow of US direct investments.’

Alaaldin shares these sentiments: ‘The Americans have helped immensely in the past but they never presided over the economic regeneration. We didn’t have regeneration at all, we simply have oil to sell and if the prices are high then Iraq’s economy is excellent and if they go low then Iraq’s economy is in trouble.’

Influence matters. So does leverage

So how does the US up its game? ‘Inflow of US money has stopped a while ago,’ said Alaaldin. ‘The US only injects money in what they call “stabilisation effort” and it is limited to the war struck areas such as Ninawa and other provinces. US investment is near non-existent, although a recent visit by some 50+ businesses to Baghdad have rekindled some interest from US corporations to come to Iraq, but I think this is sometime away.’ Yet, as is evident of late, the Iranians, Chinese, and Koreans are already on the doorstep.

Achieving influence in Iraq will be gained through resolving near-term shortfalls in basic services and, in the long run, addressing economic, humanitarian and reconstruction needs. In this, Iran, China and other countries are gaining while the Americans are well behind. To the Iraqi on the street, military support against ISIS and the Great Game competition between the US and Iran is far less consequential than human needs, and it seems everyone but the US is leveraging those needs into palpable influence. While the US and Iran were both essential to the Iraqi victory against ISIS, the effectiveness of the post-ISIS follow up by Iran and others seems lost on the US.

In Baghdad, leverage matters. Iraq is still dependent on outside powers for critical needs and will be for years. If the US continues to see and use Iraq only as a pawn in its fight against Iran, it should expect significant pushback. If it fails to up its game in Iraq through increasing commercial, diplomatic, economic and humanitarian support, it will cede influence to others with a better sense of Iraq’s needs and wants. If the US believes military support and diplomatic pressure will remain the primary source of leverage in Iraq, it better get used to disappointment.

Tanya Goudsouzian

Tanya Goudsouzian is a Canadian journalist who has covered Iraq and Afghanistan for over 15 years. She is former Opinion editor of Al Jazeera English Online. Follow her on Twitter: @tgoudsouzian.
 
 
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Thank you, Carrello, for this excellent article.

This says it all for me, too, Botswana.

Somebody needs to send this article to President Trump.

 

 

So how does the US up its game? ‘Inflow of US money has stopped a while ago,’ said Alaaldin. ‘The US only injects money in what they call

“stabilisation effort” and it is limited to the war struck areas such as Ninawa and other provinces. US investment is near non-existent, although a recent visit by some 50+ businesses to Baghdad have rekindled some interest from US corporations to come to Iraq, but I think this is sometime away.’ Yet, as is evident of late, the Iranians, Chinese, and Koreans are already on the doorstep.

Achieving influence in Iraq will be gained through resolving near-term shortfalls in basic services and, in the long run, addressing economic, humanitarian and reconstruction needs. In this, Iran, China and other countries are gaining while the Americans are well behind. To the Iraqi on the street, military support system">support against ISIS and the Great Game competition between the US and Iran is far less consequential than human needs, and it seems everyone but the US is leveraging those needs into palpable influence. While the US and Iran were both essential to the Iraqi victory against ISIS, the effectiveness of the post-ISIS follow up by Iran and others seems lost on the US.

In Baghdad, leverage matters. Iraq is still dependent on outside powers for critical needs and will be for years. If the US continues to see and use Iraq only as a pawn in its fight against Iran, it should expect significant pushback. If it fails to up its game in Iraq through increasing commercial, diplomatic, economic and humanitarian support system">support, it will cede influence to others with a better sense of Iraq’s needs and wants. If the US believes military support system">support and diplomatic pressure will remain the primary source of leverage in Iraq, it better get used to disappointment.

Edited by Floridian
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Okay, so after reading the above article, where does this leave us Dinar investors?

 

What say you, @Synopsis?

 

What is your private group saying about this, @Botzwana?

Edited by Floridian
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Auction currency sale in Iraq, the destruction of the economy of iraq and the revival of the economy of iran

Very informative article from Rawabet research center of strategic Studies 
Feb 13 /2019
 

%D9%85%D8%B2%D8%A7%D8%AF-%D8%A7%D9%84%D8

Bremer plans and Iran benefits and Iraq loses
Researcher Shatha Khalil
Auction foreign currency sale – the dollar was a law legislated and ordered by civil administrator Paul Bremer in 2004 and is the only auction in the Middle East,
It has been one of the biggest challenges facing the Iraqi state, distorting public policy and destroying the economy. The auction has continued so far and has been exploited by influential officials and senior officials in the political process linked with Iran to smuggle and launder money from Iraq for the benefit of Iranian economy to finance the terrorism and facing American sanctions and for their own interests.
Currency Auction is a complex, thorny and multifaceted topic, and many economists have differed about identifying the problem as a major ones and it is a new form of economic corruption associated with money laundering in Iraq, which has become a means of smuggling money from Iraq.
In the Rawabet center where it has noted in the text “According to the investigation committees of the Iraqi Council of Representatives and international reports that $312 billion dollars have been wasted and looted over the past years, the proceeds of oil pumped by the Central Bank of Iraq to the markets, and most of them were transferred abroad. This is a very large number in a country suffering a suffocating economic crisis, the situation in the state of “wealth” has reached to borrow from the IMF to cover its expenses!
Dr. Nabih Nadeem Al-Obaidi summarized in the working paper presented at the first conference of the Iraqi-American National Friendship Association on 5 January 2019, the seriousness of the currency auction in the destruction of the Iraqi economy and the extent of Iran’s benefit from it :
As he said the currency auction in the process of money laundering and recycling in favor of Iran, and listed some of the analytical financial indicators that clarify the role of organized sabotage of this auction:
• The Central Bank of the US dollar sales for the period (1/10/20041/10/2016) amounted to (408.875) billion dollars to cover the requirements of imports, while the real value of imports for the same period (61.3) billion dollars, while the value of the remaining difference of the amount (347.5) billion dollars is missing until the moment .. The question arises where it has gone?
• In 2010, the Central Bank’s auction sales amounted to $ 36.2 billion. The report of Federal Board of Supreme Audit submitted to the Secretariat of the Council of Ministers indicated that the number of meetings held by the Central Bank for Auction recorded in the Central Report (242) while it was discovered after checking the statements of sales of the auction for this period of (212) meeting only, proving that there are (30) meeting for the sales of the dollar are missing with its statements and amounts and the parties to which the dollar was sold to .. What does that mean? Where did the money of these meetings go?
• A “model” for measuring the auction on 6/11/2018 with a total value of sales (125,725,602) dollars for a total of (30) banks and financial institutions, and by adopting this figure as a default rate for 2017 to reach (45.252) billion dollars per year, while Trade exchange with Iran amounted (6.7) billion dollars, and the remaining (39.4) billion dollars are missing … Where it has gone?
• Actual export capacity of Iraqi oil from the ports of Basra increased from 2.9 million barrels per day for the first quarter of the year to (3.560) million barrels, and then to (4,600) million barrels per day in the last months of the year (2018) (according to the announcement of the Minister of Oil) with a rate of 4 million barrels a day , and concerning the export prices , the export price rate for the period ( 5/1/ 2018 to 30/10/2018) reached about (70.713) dollars per barrel. Therefore, the value of resources for the year will reach about (101.826) billion dollars.
• The rate of the sale of foreign currency (dollar) per day “amounted to (125 – 182) million dollars during the year (2018) and the minimum value of sales will total for the year (45.252) billion dollars, and thus will constitute the dollar sales of the Central Bank (44.44%) of the oil resources, which also constitute a rate of (261%) of the allocation of the Kurdistan region budget (7.1%) of oil resources, is this reasonable?
•Is not this a drain on resources and smuggling of funds outside of Iraq and sabotage of the Iraqi economic system.
• The documents issued by the Federal Board of Supreme Audit revealed – the Department of Finance and Distribution activity sent to the Secretariat of the Council of Ministers, that there are limited individuals and banks through which the process of selling and buying and smuggling of currency was carried out outside Iraq, including:
1. Al-Huda Bank
2. Al Tayeb Finance Company
3. Iraqna Finance Company
4. Al-Mithaj Finance Company
5. There are fictitious financial and commercial companies that do not have a headquarters in Iraq that carry out money laundering crimes by enabling them to open accounts in several banks.
The question … For the benefit of whom, this destructive activity continues, which is subject to the influence of senior officials in the political process linked to Iran? Iran has banking and financial institutions and covers of individuals and institutions supporting and loyal in the financing of the economy and the expansionist extension and Iranian terrorism.
The role of Iran’s sabotage and economic player in Iraq has become very clear, after the package of the US blockade of Iran, which is supposed to start the blockade of its mechanisms and procedures from Iraq to impose the encircle .
Attempts by some “loyal” politicians to stop the currency auction implemented by the Central Bank of Iraq after it has become 180 million dollars a day failed, but their attempts were unsuccessful due to their boycott of organized corruption backed by militias and armed parties linked to smuggling networks inside and outside the country. The central bank said that the checking and to verify invoices are not within the jurisdiction of the Bank, but rather within the jurisdiction of the Department of Economic Crime of the Ministry of the Interior.
In the light of this corruption and the looting of public money, Iraq has been classified for – two consecutive years – as the most corrupt countries and its bad effects have emerged on the already weak Iraqi entity. These are some of the negative repercussions that have emerged in political, economic, social and cultural life.
• Destruction of the Iraqi economy.
• Drain the central bank’s reserve of hard currency and gold bullion, which in turn affects local currency exchange.
• The growing phenomenon of money laundering.
• The instability of the economic situation, which directly affects the political situation.
• Exchange rate fluctuation.
• The Iraqi economy is subject to the fluctuations of the local market.
• The Central Bank reserve in 2009 declined to 35%.
• Loss of independence of the Central Bank of Iraq.
• The gap between the official exchange rate and the market price widens.
• Unemployment reached 39% and poverty reached 40%.
• Balance of payments deficit and low production capacity.
• The growth and spread of corruption and theft of public funds and weak social ties.
Economists, including Nabih al-Obeidi, stress the need to stop the currency auction, which weakened and destroyed the Iraqi economy, and limit the investment and smuggling of sales of the dollar auction from the Central Bank of Iraq to Iran to support its economy in the face of US sanctions imposed on it.

Based on the above, the economic expert Nabih al-Obeidi suggested the following treatments:
– Cancellation of the decision of the sale of foreign currency and the instructions issued later on, and the appointment of the Office of Financial Supervision as a liquidator to review and check the contents of the auction and settle their accounts by the Office of Financial Supervision in accordance with the applicable general and legal rules in the liquidation of accounts for companies.
-The Central Bank issued a resolution obliging banks and private financial institutions to adopt self-financing in dollars to cover their needs in banking transactions, and to cover bank accounts for documentary credits, remittances, deposits with foreign banks, withdrawals and remittances to the companies and individuals and within the limits permitted by the Central Bank.
– Strengthen the control of the Central Bank on private banks and sections of foreign transfers and documentary credits to verify the issuers as accredited companies in the Chambers of Commerce and Industry of their countries, letters of guarantee and exporters banks and certificates of origin and examination of the third party inspection to verify the authenticity of imports.
– Subjecting the accounts of private banks to the audit and examination of records and documents and financial lists similar to the government sector and ratification of it and submit the report to the Central Bank of Iraq with an exception from the law of private companies for their connections and financial transactions with banks and foreign financial institutions in order to tighten control on them and reduce the smuggling of funds to Iran and abroad.
– The central bank should provide private loans to banks in dollars through the bank deposit reserve in dollars, by linking the borrower’s bank with the reserve of the other bank (bank loan to a bank) and by informing the lending bank and settling for its account in the reserve, all these credit transactions are in dollars only.
– Taking all the observations and reservations received from the Office of Financial Supervision on the Central Bank and respond to them and discuss and take action on them by the Council of Ministers and the legislative authority.

Reasons for Iran’s fear of stopping the auction of currency in Iraq:
-The continuation of the auction contributes to revive the economic situation of Iran at the expense of Iraq by easing the economic embargo imposed by America on Iran and undermine it through banks and companies employed for Iran, whether real or fake.
-The issuance of the new currency by the Central Bank is done under the supervision of the World Bank and against the cash reserve of hard currency – dollar – a basket of currencies, gold cover for the value of the national currency issued and with statements and documents documented equal to the size of the currency and its categories and numbers after examination and receipt by a committee in the Central Bank, The currency is not usually numbered by the printing press, but it is done in the central bank and if it is done in the printing press, it will be made in the presence of representatives of the Central Bank and documentation.
-The reserve allocated to the national currency is subject to an assessment of the World Bank’s control and inspection. Thus, what is rumored about the smuggling of part of the new currency into Iran is incorrect; it represents a threat to Iraq by forging the new currency by Iran and pumping it into the Iraqi market through its agents of Islamic political party leaders and their militias who, through their real and imaginary companies, will buy the dollar from the dollar sale auction of the CBI.
-The second threat If the auction is stopped, Iran and its influential agents in the political process and the government will flood the Iraqi market with the new counterfeit currency in order to reduce the exchange rate of the Iraqi currency against the dollar as a result of the increased demand for the dollar against the decline in supply on one hand, and the increase the supply for the national currency and the reduction of the demand on it on the other hand , this is promoted by Iran inflated it for the purpose of preventing the issuance of a decision to stop the auction, and dependence on collusive banks , which will stop financing imports on the pretext of insufficient funding to create economic chaos on the one hand, and pressure on those who are in the government and loyal to Iran not to respond to the US embargo on Iran, on the other hand.

Sources:
1. Reports of the Central Audit Bureau on the Central Bank and observations and reservations about the currency auction for the years 2010-2018, Registrar of companies from the sites.
2. Ministry of oil, Sumo Foundation, quarterly and annual reports of production and export and contractual prices.
3. News agencies

Translated by : mudhaffar al-kusairi

Rawabet Center for Research and Strategic Studies

 

 

 
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