Today’s news is mostly about what my CBI contact told me is happening in Iraq. There are no newer lower denominations in the ATMs or elsewhere. This can not and will not happen until the rate changes closer to a dollar. However, there are lower denominations being loaded in the ATMs and they are the 250, 500 and 1000 notes.
How many times already have they gotten you excited over the last 20 years? How many times are they going to tell you their bullshit!. This is FACT. Also, I was told once again the process will begin with “EDUCATION” followed by “ACTION”. Get it?
So, what is in the REAL news today from Iraq?
I am not going to talk about some bullshit from a bank or some “secret” US Treasury contact. I am going to tell the truth as to just where Iraq stands.
There was an article titled “STRONG ECONOMY STRONG DINAR” by an economists named Al-Badrani. The article is a detailed one that makes total sense except for one thing. It does not beg the correct question – so where is the FOREX rate for the value of the “rentier” oil economy right now. Yes, RGHT NOW not 20 years down the road! Surely the 1/6 of a penny DOES NOT reflect the true value of the dinar RIGHT NOW and it is being suppressed. So, its good reading and gives us an idea where Iraq needs to go and they surely need to progress forward to make the dinar even stronger. But I keep saying if you have all these assets, $120 billion in the bank, gold reserves, bla, bla, bla, then so where it the true rate of your currency RIGHT NOW not 20 years away? So we all need to remember this is the Obama, Biden and also the Harris plan for Iraq. The plan is to wait and wait and wait while they groom and steal yet more money.
We also read that Minister of Finance Taif Sami stressed on Tuesday, the importance of completing plans to regulate the work of the government banking sector. This is not new news for us. But again we must go to WHY the article. They have told us the US Treasury in now taking up an entire floor in the Central Bank. Why are they there? They are there for all the reasons Sami talks about. They need to merge these banks or eliminate them. There are way too many banks in Iraq, thus increasing the liability and efforts to monitor them. Yes, it is all about corruption and controlling money, and not just the dollar either.
We know from past articles that the US Treasury has sanctioned 32 banks over suspicions of money laundering and smuggling to Iran. But these are just 32 of the total banks in Iraq. We learned the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, is now in Washington DC, to discuss lifting the ban on these Iraqi banks sanctioned by the US Treasury Department, as well as enhancing bilateral cooperation between the monetary institution in Iraq and the US Federal Reserve. NO, he is not hear to make the final arrangements for the RV. How stupid to say such a thing. Again just more guru intel bullshit. Please STOP the lying!
Financial researcher Bassam Raad explained to us that the visit of the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, to the U.S. should has “positive effects and aims to achieve Iraq’s financial interests and obtain technical support in the banking field to ensure the success of the monetary policy plan by relying on authorized banks as correspondent banks in foreign transfer operations,” noting that the visit aims “to maintain a bilateral dialogue on possible measures for the purpose of lifting sanctions by the US Treasury Department on banks banned from dealing in the US dollar.” Personally I do not feel he will be successful in getting the sanctions lifted. But Alaq has other work in Washington too. There are other issues in dealing with foreign trade with some major players. Remember that the WTO accession is just around the corner.
Talk about the WTO and so let’s watch parliament now give they the laws they asked for. The Parliamentary Finance Committee confirmed, on Wednesday, that the development path will achieve a qualitative shift in the course of trade exchange between Iraq and the world. … and the dinar is going to stay at 1/6 of a penny?
There is an interesting article titled “PARLIAMENTARY FINANCE: THE PATH OF DEVELOPMENT WILL ACHIEVE A SHIFT IN THE COURSE OF TRADE EXCHANGE BETWEEN IRAQ AND THE WORLD”. I suggest you go take a peek at it.
The Parliamentary Economic Committee member Yasser announced today, Thursday, the existence of a project to amend about 10 economic laws, explaining that the goal is to enhance trade, facilitate customs and tax procedures, support the public and private sectors, and develop a real map for economic reform. Remember the article from the WTO telling us this is the last issue they need resolve? In know, I know this news was from nearly 6 months ago, but now they are now getting it done. Yes, Speedy Gonzales they are not….
Economic expert Mustafa Hantoush said today in an article titled “ECONOMIST TALKS ABOUT THE MECHANISM FOR REVIVING THE IRAQI ECONOMY”. He says
“What the Central Bank of Iraq is doing by empowering foreign banks or foreign investors at the expense of the Iraqi banking system is a fatal blow to future opportunities to advance the Iraqi economy through the banking system.” I do not agree with his view. He does not even consider all the capital still sitting in the stashes and hoards of money by the citizens not yet deposited in the banks. This is really at the heart of “reviving” the Iraqi banks. Why would any economists not think that dealing with foreign banks is not a good thing for Iraq. These kind of articles just send mixed messages to the citizens of Iraq and to us investors.
So, this is the newest news from Iraq. There is no big surprises, revelations or “WOW!” news this period. NO! There are no newer lower denominations or coins out in Iraq. This is all just silly and stupid guru talk again by ignorant people.
Let’s see what happens with Alaq’s visit to Washington DC. By the way my CBI contact did tell me to remind everyone that Alaq is still governor and his resignation was NOT yet accepted. I believe this is a VERY good thing. He is a brilliant guy and he will get us through this RV threshold but at the right time. We must remember there are many factions in Iraq who don’t want Iraq to progress forward and will lie to the people to lessen their hope of a bright future. But it is coming.
Right now, if you live in the US you should be focusing on the November elections and what the prophets are telling us. there is going to be a MAJOR shakeup in politics coming to the U.S. All this bullshit will end. Things will get much better. When this happens in the US remember that it spreads to the rest of the world.
