Frank26 [Post 1 of 2] About two years ago Alaq came out on television in Iraq and told the Iraqi citizens, We need to get rid of the black market. Alaq tells the Iraqi citizens, we’re in the process of lifting the 3-zeros. We just saw him say it a couple of days ago…The black market is controlled by who? Iranian politicians. If you get rid of the black market, then you wouldn’t have the dual exchange rates…Official rate and black market rate. That means if you get rid of the black market you can control the exchange rate properly. There is no manipulation because that’s what’s going on now…The next thing you know Alaq comes out and says, we have transferred 95% of the cash payments form the imports to corresponding banks and all we have left is 5%…
Frank26 [Post 2 of 2] Did we not say very clearly that before we lifted the 3-zeros we needed the black market to end? …Oh, dear me, this is fantastic…I think this is HOT! ...This is a very powerful thing…This is security and stability that is extremely needed, extremely important for the monetary reform of the Iraqi dinar. The black market was making more money off of the nation of Iraq than the auctions were through imports and exports…Now it’s going to the CBI bank for better control of the currency through the GOI and no longer through the black market…No longer allowing the profiteering …of the Iranian politicians to control the monetary reform by putting this money in their pockets…The black market is dying…The black market dying = security and stability = a new exchange rate.
