WOTS MON SEP 27 21 Experts set a possible date to restore the price of the dollar to its previous position
These are the articles I discussed in today's My FX Buddies Podcast:
Washington: We are committed to supporting Iraq's efforts to implement the white paper on economic reforms
US Ambassador to Iraq Matthew Tueller highlighted, Thursday, September 23, 2021, the projects supported by the American Development Finance Corporation to improve access to finance in Iraq, during . a welcome speech at the Iraq Finance Fair, which was held on Wednesday, September 22, 2021
In a statement received by Al-Masala, the US embassy said that the US Agency for International Development has provided more than (8) million dollars in loans since 2015 to help small and medium-sized enterprises recover . from the war against ISIS
The ambassador noted the US government's cooperation with the Ministry of Finance in the new financial transparency initiative to strengthen open budget procedures and improve public access to budget documents, . including state-owned companies
He pointed out the importance of the private sector, given that the three state-owned banks own about 85% of .the total deposits
And he indicated that the United States is committed to supporting Iraq's efforts to implement the White Paper on economic reforms and build a vibrant and developed economy that provides job opportunities in the private sector
Government reforms are inevitable and the digital economy is the gateway to multiple resources
Iraq: Warnings of possible popular demonstrations and demands for solutions to the services crisis
Iraqi MPs have raised warnings of the possibility of the Iraqi street erupting again, and large demonstrations taking place in several provinces of the country, protesting the deterioration of services, calling on the government not to wait until after the elections , and to find quick solutions to many service aspects that citizens suffer from.
This is taking place at a time when Iraq is preparing to contest the parliamentary elections, scheduled to be held on the tenth of next month, which is a demand of the popular demonstrations, amid fears that the elections will repeat the faces and parties that have ruled the country for many years.
A few days ago, several Iraqi cities were hit by a new crisis represented in the lack of motor fuel, in addition to the interruption of drinking water as a result of the decline in water levels in the Tigris and Euphrates rivers.
According to a member of the Iraqi parliament, Representative Basem Khashan, "the bad situation in Iraq, and the great lack of services are pushing the Iraqi street to explode again at any moment," noting, to "Al-Araby Al-Jadeed", that "the demonstrations have become an expected thing at any time. Citizens They are tired of this situation that has been going on for years, and they want to get the most basic of their stolen rights.”
He stressed that "there is no way for citizens to obtain their rights except through demonstrating and demanding rights," stressing that "the demonstrations will be large, and the government may resort again to repressive methods to prevent the demonstrators, but these methods will not prevent the demonstrations from going out."
He stressed that "the government is used to suppressing demonstrations, but the popular insistence is great on expressing opinion and demanding rights," considering that "the reasons for demonstrating are real reasons stemming from great suffering that cannot be ignored, as citizens demand stolen rights and poor services."
The leader of the "National Coalition" led by former Prime Minister Iyad Allawi, Sheikh Adnan al-Danbous, considered that "the southern street is fully prepared for demonstration, due to the continued deterioration of services and the spread of unemployment," adding to "Al-Araby Al-Jadeed", that "tens of thousands of graduates of Universities do not find any job opportunity for them, in addition to the deterioration of all aspects of health, education and service life, and all this pushes the demonstration to demand rights.”
He explained, "The upcoming elections are a detailed solution and a fait accompli. If the results come out with positive data, and I doubt that, the situation may calm down."
This is taking place amid calls for the government to assume its responsibilities in this regard, and to search for solutions that meet the people's demands.
Representative Nada Shaker Jawdat called on the government to "put quick plans to address the economic situation in central and southern Iraq, as well as find real solutions to the issue of the high unemployment rate in these cities, before the Iraqi street exploded, due to the economic situation that it has been going through for a long time."
She stressed, in a press statement, that "the street in central and southern Iraq is close to explosion, due to the alarming increase in the unemployment rate, and the deterioration of the economic situation in various fields, and the reason for this is the devaluation of the Iraqi dinar against the dollar, which increased the prices of the Iraqi market significantly, and the effect of citizens, and also contributed to raising unemployment rates.
In 2019, the Iraqi street witnessed the largest wave of popular protests, due to the lack of services, the spread of unemployment, poverty and corruption, and the control of parties and militias over the joints of the state. The protests forced the former government of Adel Abdul-Mahdi to resign.
Despite the government's use of repression in confronting the demonstrations, which caused the killing of about 700 demonstrators and the injury of more than 22,000 others, the street is still ready for new demonstrations
The Central Bank succeeds in stimulating the economy and reforming the banking sector in 2021
His Excellency the Governor of the Central Bank announced in his speech at the opening of the (Iraq Exhibition for Finance, Financial Inclusion and Development) conference that was held in Baghdad for the period 22 and 23 of this month, “The Central Bank has an important role in achieving macroeconomic balance through various monetary policy tools Especially after the financial and economic challenges that Iraq faced," stressing that the financing initiatives launched by the bank during the current year and the results achieved aimed to stimulate the economy, revitalize the economic cycle and reduce the unemployment rate.Referring to the measures taken by the bank to facilitate the financing of small, medium and housing projects and large development projects, which contributed to raising the percentage of loans granted to more than 150%, adding that the bank launched an initiative amounting to more than 5 trillion dinars in addition to the previous initiative launched in the year 2015, as well as For the Central Bank to deduct treasury transfers to face the country's economic and financial crisis and support the national economy.
Through our follow-up to the bank’s procedures, activities and initiatives for one year since its launch and the issuance of the white paper, and by analyzing the data and evaluating indicators for the bank’s specialized departments and implementing the banking reform program, we have ensured the success of the Central Bank’s economic and lending initiatives and steps, which are a number of reform measures planned and put into effect by the Central Bank during In 2021, which was accompanied by the decision to reduce the exchange rate of the dinar in order to reduce the burdens that citizens with low incomes are expected to suffer and for the purpose of creating a monetary balance in the trading market, which resulted in the stability of the dinar exchange rate during the current month at the target rate of 1470 dinars compared to 100 US dollars.
In addition to facing the repercussions that can occur as a general situation facing countries that reduce the exchange rate of their local currency and
investing in positive cases to strengthen the government’s financial position, reduce the budget deficit and overcome the causes of internal and external borrowing, in addition to protecting and supporting the local product, activating the real sector and gradually reducing dependence on oil rents.
Governmental and private banks have contributed to the implementation of the above-mentioned Central Bank initiatives. The important question is what is the role of banks in implementing the plans of the Central Bank in supporting the national economy? And what do you actually check?
Despite the complex and accumulated suffocating financial crises due to the decline in oil prices, the decline in revenues from it, the spread of the Corona pandemic and the negative effects on the decline in GDP and the low rate of economic growth due to the recession in the global economy and the Iraqi economy during the years 2020 and 2021, but our banks made great efforts and implemented the bank’s instructions The Central Bank continued to provide banking services and products to individuals and companies and to grant loans to finance small, medium, housing and large projects and interacted greatly with the Central Bank’s lending initiatives to stimulate and stimulate the economy.
As 9000 small and medium projects were financed out of the amount allocated only to private banks, the operation of up to 12,000 unemployed people, and an amount of up to 750 billion dinars was disbursed, with an implementation rate of 75% of the one trillion dinars initiative only, while continuing to grant employees and citizens a loan, the recent Central Bank initiative of 15 million dinars without Interest and without a sponsor, in addition to the continuation of specialized government banks to lend industrial, agricultural and housing projects from the previous five trillion initiative and the new five trillion dinars, which constitute an advanced lending rate, especially housing loans, with reference to the role of the central bank and banks in supporting the national economy in crises, so banks during crises The economic faced by the Iraqi economy contributed and implemented precisely the instructions and initiatives of the Central Bank to raise the percentage of financial inclusion and achieved a growth of up to 50% in the new open accounts, and the number of accounts reached (6) million accounts.
It also implemented the strategy of the Central Bank with regard to developing electronic payment systems and moving to the cashless society. The number of ATMs operating in our banks reached (1300) tellers and points of sale with up to (5) thousand points of sale, and the number of activated bank cards reached (12) million cards. The other important aspect that the bank has done, and our banks have played an active role in its implementation, is the commitment to international rules and standards for compliance, anti-money laundering, financial reporting and risk management.
* Economic and banking consultant
Adviser to the Prime Minister sets the conditions for re-exchange of the dollar to the previous rate
Saleh told {Euphrates News} that "restoring the dollar exchange rate to its previous era requires a number of things and a period of time," stressing "the country's foreign currency reserves must be stabilized by addressing the budget deficit as well as improving the economy."
He stressed that "this matter cannot happen in the short period, according to the current economic fluctuations and the general economic policy, which is difficult for anyone to speculate on its current
conditions." The exchange rate previously between 2006 and 2008, according to the Iraqi reserves of foreign currency.
It is noteworthy that the Central Bank of Iraq decided on January 19 last to make a significant change in the dollar exchange rate, as follows:
1450 dinars per dollar, the purchase price of foreign currency from the Ministry of Finance.
1460 dinars per dollar, the price of selling foreign currency to banks.
1470 dinars per dollar, the price of selling foreign currency to the public.
The Central Bank's decision caused a rise in prices for foodstuffs, consumer goods and commodities, which negatively impacted the standard of living of citizens and exacerbated unemployment.
Minister: The KRG has received assurances to continue sending 200 billion dinars per month
The Minister of Finance and Economy of the Kurdistan Regional Government, Awat Sheikh Janab, said, on Sunday, that the regional government obtained assurances from the federal government to continue sending an amount of 200 billion dinars per month to finance the salaries of employees and workers in the public sector in Kurdistan.
Sheikh Janab said in a joint press statement with the Minister of Construction and Housing Dana Abdel Karim, followed by "Al-Iqtisad News", that "the Council of Ministers of Iraq issued two decisions about sending 200 billion dinars to finance the salaries of employees in the region, and according to the assurances we received, we hope that this will continue to be sent. Amount per month.
The minister stated that "what concerns us is that the regional government did not show any failure to secure salaries," adding, "We hope the federal government will continue its policy of sending sums and treat citizens in the region like other citizens in the rest of Iraq and not discriminate between them as it was doing in the previous"
Experts set a possible date to restore the price of the dollar to its previous position
Secretary-General of the Council of Ministers: The government is still studying the effects of changing the exchange rate
The Secretary-General of the Council of Ministers, Hamid Al-Ghazi, confirmed today, Sunday, that the government is still studying the effects of changing the dollar exchange rate.
The official agency and followed by it (Al-Oula News), quoted the Secretary-General of the Council of Ministers, as saying, “The policy of changing the exchange rate is a monetary policy that belongs to the Central Bank, which is an institution independent of the government and in coordination with the Ministry of Finance. Nevertheless, the Council of Ministers issued its decision No. (63 for the year 2021) created a committee headed by the Ministry of Planning and the membership of the ministries of finance, construction and electricity to study the effects of changing the exchange rate, and to measure its effects and repercussions on the economy and the movement of markets.
He added that "such effects cannot be memorized until after enough time has passed, and the committee is still working on writing its reports to be submitted to the government."
On December 20, 2020, the Central Bank of Iraq issued a decision to reduce the value of the Iraqi dinar against the US dollar, which included selling it in stages.
The previous price of the dollar was sold by the Central Bank at a price of 1180 dinars, and then it is sold in the Iraqi markets at a price exceeding 1200 dinars.
An expert talks about a relationship between the “construction” bonds offered by the Central Bank of Iraq and the dinar exchange rate
The economist, Nabil Al-Marsoumi, commented, on Monday, regarding the Central Bank’s initiative to offer “construction” bonds, while talking about the relationship between it and the Iraqi dinar exchange rate.
Al-Marsoumi said in a clarification followed by “Nass” (September 27, 2021), that “the Central Bank announced the issuance of bonds of two categories, the first with an interest rate of 6% with a two-year term, and the second with an interest of 7% with a term of 4 years.”
He explained, "In order for the interest rates on these bonds to be real and positive for the buyer of these bonds, the Central Bank of Iraq must pledge not to reduce the Iraqi dinar exchange rate again during the next four years!!".
And the Central Bank announced, earlier, the offering of “Binaa” bonds in denominations of 500 thousand dinars and one million dinars.
And the bank stated in a statement that “Nass” received a copy of it (September 26, 2021) that “in continuation of the role of the Central Bank of Iraq in developing the local financial market and mobilizing savings, the Central Bank offered the first issuance of (construction) bonds of two categories (500,000) dinars (five hundred thousand dinars). ) with annual interest (6%) for two years, and (1,000,000) dinars (one million dinars) with annual interest (7%) for four years.
He added that "buying these bonds will be through authorized banks, which receive purchase requests from those who wish to do so and deliver them a receipt for the amounts of purchasing these bonds, as the central bank issues them and delivers them to the banks within a short period."
Achieving stability is an urgent necessity to attract investment
Al-Ghazi: The government has already started preparing the general budget for 2022
The Secretary-General of the Council of Ministers, Hamid Al-Ghazi, confirmed the Secretariat's response to all the needs of the Electoral Commission to conduct fair and transparent elections, and while noting that the government had already begun preparing the general budget for 2022, he announced that the state ministries had referred degrees of deletion and creation to the Federal Service Council. “The General Secretariat of the Council of Ministers is the coordinating body with ministries and agencies not associated with a ministry and all governorates, and it works to follow up on the implementation of all decisions issued by the Council of Ministers and directives issued by the Prime Minister.”
He added, "The election file is one of the most important files that have received the government's attention, and that providing a safe environment for elections is one of the most important elements for conducting fair, fair and transparent elections, and although the High Electoral Commission is the competent authority in managing and organizing the electoral process, it needs support and backing from All government institutions.” He pointed out that “holding early elections in accordance with the standards of democracy and integrity is one of the goals of the government program, so the General Secretariat of the Council of Ministers responded to all the needs of the Electoral Commission,” noting that “the government formed the Higher Security Committee for Elections to undertake, in coordination with the Commission, the preparation and implementation of plans. Concerning the protection of the Commission’s headquarters and polling materials, and a special plan for the polling day to ensure the participation of voters in voting, and the protection of polling centers and materials.”
Al-Ghazi explained that “the general secretariat formed a supreme committee to oversee the support of women’s participation in the elections, and this committee launched its plan to support women’s participation and protect women candidates and their electoral campaigns, and ended with many procedures issued by the Supreme Judicial Council and the Ministry of Interior to activate and expedite electoral complaints for women candidates and provide protection for the activities of campaigns for women candidates and ensuring their personal security.” Al-Ghazi added that “the early approval of the state budget is of great importance, which is reflected in the state’s general economic performance, the operation of institutions and the completion of projects,” noting that “the government has already begun preparing the general budget for 2022, but it is not finished yet.” It has been fully prepared and we still have enough time to complete it, and it has not been clearly specified whether the budget includes internal or external loans.”He pointed out that “the reality indicates that the previous budgets were suffering from deficits, and with the government’s reliance on the policy of economy and rationalization in government expenditures, the loans, with their flaws, remain an economic solution to confront the deficit in light of the repercussions of the economic crisis and the drop in oil prices due to the Corona pandemic, stressing That “the government does not tend to expand by borrowing in general, but it may have to borrow at its minimum limits to correct the deficit.”
Al-Ghazi noted that “the state ministries have prepared the degrees of deletion and creation and referred them to the Federal Service Council, and the decision regarding the launch of these jobs will be taken by the Federal Service Council after checking the position of the general budget.” The Secretary-General of the Council of Ministers, whose mission is to remove the obstacles that prevent the completion of investment projects, and to find appropriate solutions to overcome them with the official authorities, and works based on the government’s vision of providing a suitable environment for investment, by providing all facilities to local and foreign investors.
He added, "The government was determined to open investment horizons for everyone, through the multiple official visits that the Prime Minister conducted to the countries of the world, and the said committee enjoyed great support and powers that enabled it to diagnose the most important obstacles facing the investment file, and the committee held so far ( 107) sessions, during which (777) recommendations and guidance were issued, the highest levels of professionalism and quality were adopted, and an achievement rate was achieved that reached nearly (85%), in which it dealt with approximately (453) projects, with a market value of more than (33) billion dollars And it studied investment projects in various sectors (residential, commercial, tourism and entertainment, industrial, agricultural, health, and education), and the Baghdad governorate’s share of them was (153) projects and (291) projects distributed over the rest of the provinces, and it was also able to diagnose the most important obstacles facing The investment file in Iraq, and the mobilization of dozens of lagging projects.”Al-Ghazi said that "confronting the housing crisis is one of the government's priorities, and the government has already launched a national plan to distribute land to the beneficiaries and give them loans to build houses and follow advanced digital registration mechanisms to implement the project, and the National Investment Commission took the initiative to sell 20,000 housing units in the Basmaya housing project at subsidized prices." And soft loans to solve the housing crisis, and there is a project for the National Investment Authority to establish the National Real Estate Development Company to solve the housing crisis with mixed shares distributed by 50% for the public sector and 25% for the private sector and the remaining percentage shares are sold to citizens, and the Ministry of Construction approved the basic design of cities in Baghdad and in the governorates Basra, Anbar, Wasit and Diyala.He added that "work and coordination is also underway between the ministries of planning and housing for the purpose of finding solutions to the 52 stalled residential complexes, whether by resorting to international conventions or finding and adopting solutions in the federal budget to solve the problem of stopping in these complexes," noting the investment in the field of complexes. Residential and the distribution of lands and serviced lands provide other solutions to the housing problem, especially with regard to the plots of serviced lands stipulated in the Budget Law 2021, which authorized the governors to provide extensive lands services through the use of developers to distribute these lands to citizens and employees, while calculating the value of the amounts spent on serviced lands.Al-Ghazi explained that "the government formed an anti-corruption committee, and it has started its work and conducted many investigations and made several arrest warrants against those accused of corruption and wasting public money, and judicial decisions were issued against them, pointing out that" the government was keen to deal confidentially with these cases to overcome previous failures in The corruption file has been made a political and media file that is used to liquidate opponents and dealt with the file according to legal contexts, but the work still needs a longer time to complete investigations and collect evidence and documents to file accusations, especially since many of them were corruption files under previous governments and have been around for a relatively long time.
He pointed out that "the committee completed more than 80% of the lagging projects, indicating that a committee was also formed in the Ministry of Planning to solve the problem of some stalled projects in the ministries," noting that a committee was formed in the General Secretariat of the Council of Ministers in the year 2020 in order to solve the problem of lagging projects. In Dhi Qar governorate, and within a period of about a year, this committee was able to dissolve and move 114 stalled projects in Dhi Qar governorate, including projects related to roads, water and sewage complexes, hospitals, schools and bridges, where work resumed on these projects after they were suspended. Regarding the Chinese agreement, Al-Ghazi indicated that “a working group was formed from the Secretary-General of the Council of Ministers, the Director of the Prime Minister’s Office and the Prime Minister’s Advisers, Muhammad Al-Hakim, Mazhar Muhammad Salih, Salem Al-Chalabi, the Deputy Minister of Planning, the Central Bank and the Legal Director in the General Secretariat of the Council of Ministers, and it was the result of work The team is to activate the agreement and its entry into force.”
He explained that the Prime Minister formed a supreme committee to select the projects that will be implemented under the Chinese agreement, headed by the Secretary-General and with the membership of the Prime Minister's advisors as well (Mohamed Al-Hakim, Mazhar Muhammad Salih), the Deputy Minister of Planning, the Director of the Public Debt Department in the Ministry of Finance and the Central Bank, and the Head of the Legal Department in the General Secretariat of the Council And he indicated that “the committee is working on studying the projects that will be implemented, and these projects are specialized in most of them in the fields of energy, power plants, schools, the reconstruction of Sadr City and the Nasiriyah airport project. After presenting it to the Prime Minister to obtain his approval for the projects that were selected.”The Secretary-General of the Council of Ministers said that “the government has set among its priorities the attention to the file of contracting employees, and has sought to provide financial allocations to install them, but the House of Representatives amended the budget submitted by the government, which reduced these allocations, which were limited to medical and health professionals, the first and a campaign The testimonies," noting that "the government submitted an appeal to the Federal Court in some paragraphs of the budget law and is awaiting the court's decision." Contracting with them, and calculating their wages starting from 1/1/2021, and the activation of the decision and the payment of wages were initiated, and there were contracts that were before the date specified in the decision of the Council of Ministers. “.
Al-Ghazi pointed out that "a committee was formed in the General Secretariat of the Council of Ministers to set mechanisms and controls for the nomination of special grades, headed by the head of the legal department and the membership of the General Director of Legal in the Prime Minister's Office, a general manager from the Integrity Commission, a general manager from the Financial Supervision Bureau, and a general manager from the accountability and justice authority."
And he indicated that “the committee determines the most important controls for assigning grades to the need for the candidate to obtain the approval of his competent minister, and to ensure his integrity and not being covered by the law of ablation by addressing the Integrity Commission and the Accountability and Justice Commission, in addition to approaching criminal evidence to ensure the integrity of his legal position and the absence of a criminal record for him. He explained that “the controls also include access to the candidate’s service line and summary, his experience and specialization, and the suitability of that to the position he is nominated for, and after completing these conditions, the general managers nominated are referred for approval by the Council of Ministers, while the special grades and agents are raised to the House of Representatives for the purpose of ratification.” “.
With regard to the ambassadors, the Secretary-General of the Council of Ministers said that the Ministry of Foreign Affairs is the party concerned with setting controls and interviewing the candidates, and there is a committee from the Ministry of Foreign Affairs and the Prime Minister’s office that has interviewed the applicants, and the names were chosen by the Council of Ministers and were referred to the House of Representatives for the purpose of ratification.
147,200
....
The price is in most Baghdad exchanges
Purchase
146,750
Sale
147,750
———————
Erbil - Bursa
147,250
——————
Mosul - Bursa
147,350
—————————
Sulaymaniyah - Bursa
147,350
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Oil prices are close to $80
On Monday, oil prices continued to rise for the fifth consecutive day, with Brent crude heading to $ 80, amid concerns about supplies, as parts of the world are witnessing an increase in demand with the easing of epidemic conditions.
Brent crude rose $1,024, or 1.31 percent, to $79.11 a barrel.
US oil rose 0.97 dollars, or 1.30 percent, to 74.98 dollars a barrel, its highest level since July, after rising for the fifth consecutive week last week.
Oil industry specialists said that the continued tight supply has led to dependence on stocks in all regions, and the rise in gas prices also helps push oil up as the liquid becomes relatively cheaper for power generation.
The Iraqi Stock Exchange announces the suspension of its activity for one day
The Iraq Stock Exchange announced, on Monday, the suspension of its activity for one day only.
The market administration said in a statement received by Mawazine News, a copy of it, that "based on the decision of the Council of Ministers to declare an official holiday tomorrow, Tuesday, due to the presence of a religious occasion, the market will not organize trading sessions for tomorrow."
And she added, "The practice of activity will resume after the official holiday and starting next Wednesday, according to its official timings."
Experts set a possible date to restore the price of the dollar to its previous position
Washington supports the single window system via the Internet in Iraq by about one million dollars
And the US embassy in Baghdad in Baban, which {Euphrates News} received a copy of, said, "Ambassador (Toller) joined with Iraqi officials in launching the single window system over the Internet in Iraq to register companies on the 26th of this September. The United States provided a sum of (975) ) thousand dollars to support the online single window system, which represents an electronic government tool developed with the United Nations Conference on Trade and Development to allow the possibility of registering businesses completely online in one simple step.
The statement added, "The online single window system will help attract investment in Iraq by reducing delays in business registration, increasing transparency and reducing corruption."
Iraq has worked to launch this project since 2017, with the support of the US State Department.
Toller noted that "the launch of the single window system over the Internet in Iraq is an important step towards strengthening trade relations between Iraq and the United States."
CBI Update: Just a note:
The Board of Directors of the Center for Banking Studies at the Central Bank of Iraq holds its second meeting for the year 2021
including $52,580,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
9-26-2021 Newshound Guru MilitiaMan Article: "Public Traffic announces tomorrow, Monday, the date for opening all Baghdad streets" They will have 100% access to the streets. I wonder if that means they can access the thousands of new ATMs and be able to use the millions of cards to activate a new Sovereignty? The UN video described Iraq as being safe, stable and sovereign meeting place. Let see what happens by opening up 100% of all streets in Baghdad.
9-26-2021 Intel Guru Frank26 [Possible exchange possibilities/ considerations/strategies] Remember what we told you. Look at the exchange rate. Is it 1 to 1? [Then ask] CBI how long are you going to coexist the new small category notes with the 3 zeros? How long? A year? They'll co-exist forever? 6 months? 3 months? I don't have much time for the International growth do I? I was going to cash out about 10% in the beginning, I think I'll cash out 90%... [NOTE: At the appropriate time, take everything you learn hear to your professional financial advisor to create a plan specific to your unique circumstances.]
9-26-2021 Newshound Guru Pimpy So if they removed 70% of the money supply, plus all them that have been damaged just through natural wear and tear, ones that were taken by ISIS, ones damaged during the flood that means the actual amount of IQD out there is very low. Now that makes it very realistic that the IQD can indeed be revalued around $3.00 if not more. I'm not saying that's the rate. I'm saying that is a more realistic rate given the fact that we know for sure now that the amount of existing IQD has been reduced by at least a minimum of 70%...this is great news! [Post 3 of 3]
9-26-2021 Newshound Guru Pimpy Quote "The Central Bank's aggressive policies spent $1 billion to $1.5 billion every month in oil revenues to buy physical IQD supply on the open market said by Moldov a senior advisor to the bank." ...you remove 70% of it that brings it way down. Again, this is only what they bought and destroyed...We also know that there is something like 95% of the supply is out of country 5% of it is in country. I can tell you this that the big portion of the existing IQD is in the hands of banks...the average speculator has 250,000 IQD. That's the average... [Post 2 of 3....stay tuned]
9-26-2021 Newshound Guru Pimpy You see in the Iraq [Central] Bank on their website it tells you how much currency was created - 55 trillion dinar. But what is not put on there is how much of it was destroyed? There was a flood and the banks had to destroy that money. How much of it was taken by ISIS and destroyed? We don't know...I did show an article in which it stated that Iraq was taking $1.5 billion of their oil money, buying back the IQD off the open market. This is great news. Think supply and demand. If there truly is that much Iraq dinar out there, there's no way you could possibly do it at $3.00. It would bankrupt the country. This is the first time I hear this - 70% of the money supply [removed from market] that makes it way more realistic that a revalue can be done at that rate. [Post 1 of 3...stay tuned]
9-26-2021 Newshound Guru Desert Advisor Iraq has basically kicked out France and their military and our military. They've just not discovered but they're really seeking investors now for their phosphate which has been going on for years, meeting with multiple countries and different investment companies whether it's their energy, in different agriculture sectors, phosphate, all kinds of stuff and their economic reform is making way as much as they're talking with the IMF, the World Bank and everything like that with the new budget. It's pretty interesting to see everything going on!
9-26-2021 Newshound/Intel Guru Mnt Goat Article: "SALEH PUTS THE INTERNATIONAL COMMUNITY IN THE PICTURE REGARDING IRAQ IN HIS SPEECH TODAY" Iraq is now all about “international”. Yes, everything these days is reaching out to the international community for trade and business. We can see the reinstatement of the dinar coming clearer and clearer in the picture each day as we progress closer and closer to the end of the year.
Catnip's Corner:
Today I am honored to be in the holy land of Karbala... the land of martyrdom and values... and I see these masses of faith flock to the shrines of Imam Hussein and his brother Abbas, peace be upon them. Serving visitors, protecting them, facilitating their requirements and providing them with all assistance, is not a natural duty that you all have to do, but it is a great moral, human and religious duty. We offer the world an example of how Iraqis can perpetuate their spiritual and religious values, with cooperation and integration between the simplest citizen and the most senior official in the state. Every visitor to the fortieth day of Imam Hussein plays the same role as the prime minister, governor, officer and any employee. Those in the streets of Karbala are our role models and leadership. Your eyes must remain open, not to lose sight of any suspicious movement or inaction, and every officer, starting from the operations commander to the youngest officer, must follow up by himself with the security services to maintain security moment by moment, without fatigue or boredom. Your eyes are on our people, and God bless you and your efforts, and I have put in front of the operations commander and the governor, a direct line to contact me continuously until the end of the visit, and at any hour, day or night, and I will be ready to solve any problem and address any defect. Completing the success of the visit is also linked to providing all means of transportation to return the visitors to their governorates, and all transport teams in the ministries and the army are mobilized to perform this task.
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