Iraq Is Broke. Can There Be An RV-RI At This Time?

[Luigi1]

Here's an article of Dinarian interests...

Iraq is broke...is rapidly running out of cash.

Global recession & low oil demand blamed.

Can there be an RV-RI at this time?

Treat as a rumor.  Not verified.  Your opine.

 

 

 

Tlm724 Administrator Bondlady’s Corner:  Warnings Of Running Out Of Iraqi Cash Reserves Due To Indicators Of The International Economy.

ARTICLE: Today, the economist, Bariq Shubar, warned of the depletion of the Iraqi cash reserves, due to the indicators of the international economy & the state of contraction & the occurrence of actual deficits in the general budget & the Iraqi balance of payments. 

 

Shubbar expected, in press statements, a contraction of the general international economy, a drop in oil prices & a decline in export revenues, with the continuation of planned government spending in the 2023 budget & subsequent years, which will cause a state of fiscal deficit & depletion of reserves of foreign currency & gold.  He said, “The increase in cash reserves is very important for the future of Iraq's economy, because of its strategic importance, but the fiscal & monetary policy pursued by successive Iraqi governments failed to use the reserves for sustainable development purposes.” He pointed out that “the total cash reserves announced by the CBI include the financial abundance achieved in the past year belonging to the Ministry of Finance & it will be withdrawn by the US Federal Bank after passing the 2023 Budget.” 

 

 Shubar emphasized that “the central bank sells large amounts of Dollars, which are leaving large amounts of it outside Iraq & this means that an inevitable decrease will be exposed to the cash reserves.”  The CBI revealed a new statistic that showed the increase in foreign exchange reserves & the quantities of gold available as strategic storage, in addition to its progress in the global ranking among the countries that have the most gold reserves.  The statistic, which was published yesterday, showed that the cash reserves of the Dollar rose until the end of May 2023 to 111.7 billion Dollars, from about 77 billion Dollars a year ago & the gold reserves rose to 132.7 tons from 96.4 tons a year ago.  According to the same statistic, Iraq ranked 30th in the world in gold reserves, eight places higher than it was in May 2022.

 

[Luigi1]

NOTE: There was an article earlier this week the 'Project To Delete The Zeros' may have to be put on hold for at least three more years...Iraq is broke & may need to borrow from the IMF.

[rvmydinar]

14 minutes ago, Luigi1 said:

NOTE: There was an article earlier this week the 'Project To Delete The Zeros' may have to be put on hold for at least three more years...Iraq is broke & may need to borrow from the IMF.

If Iraq is broke , therefore there won't be a rate change definitely in the 2023-2025 budget. Right. Yes?

[trvlr787]

Just like Lucy pulling the football when Charlie Brown tries to kick it

[Blitz]

I am ready to start a fire with my Dinar!!!

[Bob]

As the most interesting man in the world I have only one thing to say....  "I'm not buying it!"  Just sayin

[boosterbglee]

Why do they continue to buy gold if their broke?

[Luigi1]

3 minutes ago, boosterbglee said:

Why do they continue to buy gold if their broke?

 

Iraq boasts often of their foreign cash reserves & gold holdings.

Iraq is not broke IMHO.

This just an excuse to kick the can.

Even the US guaranteed Iraq to purchase their oil at a fixed rate of $75 barrel, ir-regardless of what global oil prices drop to.

 

Iraq must pay up in compliance to the Paris Accord agreement.

[Luigi1]

33 minutes ago, rvmydinar said:

If Iraq is broke , therefore there won't be a rate change definitely in the 2023-2025 budget. Right. Yes?

 

In coming days.

[sgtsanders]

Sounds like a great way to scare folks in to dumping Dinar, just saying…

[Luigi1]

7 minutes ago, sgtsanders said:

Sounds like a great way to scare folks in to dumping Dinar, just saying…

 

Absolutely.   CBI must get the global note count down.   IMHO.

[Luigi1]

46 minutes ago, Bob said:

As the most interesting man in the world I have only one thing to say....  "I'm not buying it!"  Just sayin

 

Me neither.   This may be an indication they are ready.

[cjdavid]

50 minutes ago, boosterbglee said:

Why do they continue to buy gold if their broke?

Exactly! That and the are sitting on Black Gold til the cows come home driving Elvis’s pink Cadillac. Just does not make sense That they are broke. 

[Luigi1]

Luigi's opine on all this mess...

 

I believe this to be all smoke & mirrors.

Stay focused.  Stay grounded.  Don't get distracted.

Mass confusion is exactly where the Cabal wants us, at.

Remember, Iraq is being manipulated by the UST, WB & IMF.

[Luigi1]

2 hours ago, trvlr787 said:

Just like Lucy pulling the football when Charlie Brown tries to kick it

 

The only difference between US & Iraq football, when Iraq plays football, they use a can to kick, instead of a real football.

[dinarham]

Bigtime smoke and mirrors . In spit of what the black market is doing in Iraq  , currency converters are holding steady at 1300 , give or take a few pips .

[dinarham]

If Iraq is so broke , why is JP Morgan , the largest financial bank is the US , canoodling with the CBI ?

[T B]

these games are getting old, light a fire under there arses and watch em go! sorry lord!🤣

[dinarham]

2 minutes ago, T B said:

these games are getting old, light a fire under there arses and watch em go! sorry lord!🤣

     Considering that less than 6 years ago , Iraq was 2/3 's  under Isis control , and after surviving Obama's decision to pull out of Iraq prematurely to fulfil a campaign promise which led to this . Prior to Saddam , the Iraqi Bill of Rights for it's citizens included more rights that we have here . I have dealt bigtime with Iraqis , they are smart , good work ethics , and they are super super loyal to their families , to a fault .

[Luigi1]

Here's another article related to the above...Nader says it's done...the Budget was passed a while back...

 

Nader From The Middle East:  The Budge Has Been Approved. 

ARTICLE: Everything has been approved.   They’re saying they have to vote but they voted.   It’s been approved for a long time already but they just wanna make a big show.  Today the Budget will travel to the Senate, the Senate will sign for it & that’s it, we’re done with the Budget & now the new currencies.

 

[rvmydinar]

4 hours ago, Luigi1 said:

 

In coming days.

SOON?

[rvmydinar]

1 hour ago, Luigi1 said:

Nader From The Middle East:  The Budge Has Been Approved.  Today the Budget will travel to the Senate, the Senate will sign for it & that’s it, we’re done with the Budget & now the new currencies.

Is that simple like that? ⏰tik tok tik tok 😄

[Sage449]

On 6/9/2023 at 9:02 AM, cjdavid said:

Exactly! That and the are sitting on Black Gold til the cows come home driving Elvis’s pink Cadillac. Just does not make sense That they are broke. 

And if oil is so bad sales-wise, why keep signing up to reduce oil production?

[edbeach]

On 6/9/2023 at 9:31 AM, Luigi1 said:

Here's an article of Dinarian interests...

Iraq is broke...is rapidly running out of cash.

Global recession & low oil demand blamed.

Can there be an RV-RI at this time?

Treat as a rumor.  Not verified.  Your opine.

 

 

 

Tlm724 Administrator Bondlady’s Corner:  Warnings Of Running Out Of Iraqi Cash Reserves Due To Indicators Of The International Economy.

ARTICLE: Today, the economist, Bariq Shubar, warned of the depletion of the Iraqi cash reserves, due to the indicators of the international economy & the state of contraction & the occurrence of actual deficits in the general budget & the Iraqi balance of payments. 

 

Shubbar expected, in press statements, a contraction of the general international economy, a drop in oil prices & a decline in export revenues, with the continuation of planned government spending in the 2023 budget & subsequent years, which will cause a state of fiscal deficit & depletion of reserves of foreign currency & gold.  He said, “The increase in cash reserves is very important for the future of Iraq's economy, because of its strategic importance, but the fiscal & monetary policy pursued by successive Iraqi governments failed to use the reserves for sustainable development purposes.” He pointed out that “the total cash reserves announced by the CBI include the financial abundance achieved in the past year belonging to the Ministry of Finance & it will be withdrawn by the US Federal Bank after passing the 2023 Budget.” 

 

 Shubar emphasized that “the central bank sells large amounts of Dollars, which are leaving large amounts of it outside Iraq & this means that an inevitable decrease will be exposed to the cash reserves.”  The CBI revealed a new statistic that showed the increase in foreign exchange reserves & the quantities of gold available as strategic storage, in addition to its progress in the global ranking among the countries that have the most gold reserves.  The statistic, which was published yesterday, showed that the cash reserves of the Dollar rose until the end of May 2023 to 111.7 billion Dollars, from about 77 billion Dollars a year ago & the gold reserves rose to 132.7 tons from 96.4 tons a year ago.  According to the same statistic, Iraq ranked 30th in the world in gold reserves, eight places higher than it was in May 2022.

 

That BS their broke, how do you buy in to the fact their broke with their reserves of 111.7 Billion US dollars  that Billions US Dollars plus 132.7 tons of gold thats 132.7 tons of gold Come on Iraq who in the hell believes your poor ass story of being broke. I believe they continue crying poor so the United States will continue to give them more of the American tax money freeby but to hell with our government giving the American people money but ok for them to give to Iraq  NO   JMHO

[Luigi1]

10 minutes ago, edbeach said:

That Bull Shite their broke, how do you buy in to the fact their broke with their reserves of 111.7 Billion US dollars  that Billions US Dollars plus 132.7 tons of gold thats 132.7 tons of gold Come on Iraq who in the hell believes your poor ass story of being broke. I believe they continue crying poor so the United States will continue to give them more of the American tax money freeby but to hell with our government giving the American people money but ok for them to give to Iraq  NO   JMHO

 

I'm not buying it.  This may be another attempt to kick the can.

GOI boasts often of amassed wealth through oil sales.

CBI boasts often of it's gold & foreign reserve holdings.

Iraq is not broke.

Sure, they would like $120 a barrel for oil & unlimited production quotas.

They can't always get their way on everything, every time.