Iraqi private banks are not the owners of the corrupt money, but there are those who acquire the iraqi dinar illegally and try to use the banks for purpose of money laundering and smuggling hard currency.
They’re talking about the parallel market.
It’s an illegal market. That’s all there is to it. It’s black market. Illegal market.
Says when a lot was brought in, the work of the corrupt whales, among the politicians became active. So here it’s referencing the whales and the politicians became active.
Okay. They invested in dollars. Now, think about it for a minute. If you’re invested in dollars and you’re heavily weighted, let’s say you’ve got a billion of them, could you imagine having a billion worth of billion dollars worth of dinar and they change the value.
Even just dropping the triple zero seven, triple zero is offset what it is today. 1310, 1320, triple 07633, I think it is drop three zeros. And while you have, what, $0.76.
these guys are probably upset because they have a feeling that they won’t be able to get back all those dinars because they have too many dollars. So it says, when a lock was brought in, the work of the corrupt whales among the politicians became effective or active.
They invested in dollars and the private sector was terminated. So that was back in the past. They invested in dollars. The private sector got terminated while the central bank imposed unnatural complications by launching a campaign against simple shops and kiosks in the market of so forth as shorja, karada, etcetera, and preventing the sale of electrical and food supplies and even clothing in dollars, and taking pledges from shop owners to prevent dealing in dollars and punishing them in the event of violation and procedures that have no legal ceilings for judges decision.
The central bank violated the constitution of law. Well, I’m pretty sure the central bank is not the one that’s violating the constitutional law. But the dollar is currently on the rise at a time when there is no official announcement of the central bank about the volume of remittances leaving the country.
We all know that many people at the top are heavy in the dollar. Those that have them, have them better start seeing the writing on the wall who have the dollars better to see this writing on the wall and get them converted into dinars, if they can even get them at this time and even in a meaningful way, because you might not be able to buy all that.
You know, say, for instance, if you had $100 million and wanted to buy dinar, you probably might not be able to get it. They might not sell it to you. It would be very suspicious to say that, for instance, someone brings in that million or a billion dollars to buy the. And they’re going to ask the questions like, well, you’re on a politician’s wages.
Where did you get the money? How do you have so much money to buy that dimensional dinar? And when they’re going to probably ask us the same questions, where did you get the money to buy these dinar in the future?
So be prepared for that. I highly suggest you be prepared for that.
In accordance with applicable articles of the constitution and internal regulations, again, the nearest session probably could have been, or could have been sometime today. We’ll see. But the major flaw in the central bank is propped to these guys, I’m assuming, is because they’re pushing transparency with regard to banks and the selling of the dollar, among other things. Don’t forget we just talked about the whales and the politicians might be a little bit ticked off because.
Because the auctions, the dollar auctions, they were 250 million, let’s call it real close every day now they’re like, what? Three? 4712, 1116 today.
central bank will not reduce the dollar exchange rate now. Well, first off, the dollar trades against a basket of currencies around the world.
The central bank governor of Iraq is not going to change the dollar exchange rate on a world market. Okay. They are going to potentially have some influence. So yes, the governor of the central bank, Alaq allocates.
He is confirming that there will not be a move to reduce the dollar exchange rate at the present time. Okay, I’ll just move forward. But the dollar price has stabilized somewhat. It may rise and fall within certain limits.
Al Dulami is suggesting, and he goes on to say that considering that there are other measures that have not been taken, so it says, we will not see currently going to reduce the dollar price, as the governor of the central bank said, considering that there are other measures that have not been taken, as I would say, yet. So there’s something Alak, which is going to be, could fix things or change things. So be careful. He said that the United States Federal Reserve won’t wait forever and they can move at a moment’s notice and they have a floor at the central bank.
And so there’s probably some pressure when Alak shows up for work, there’s other people there to have a little visit with him here and there.
the parliamentary finance today is Sunday committee hosted the governor of the central bank to follow up on the exchange rate file, the real estate bank initiative initiative in the auction file, and foreign trade financing.
So it sounds like there was a meeting today. So let’s see what happens in the news tomorrow. Okay. Tonight late, let’s see what happens.
Applying the delete the zeros project as far as I’m concerned, is a very key thing. And it will also take, take a front step to the, to the dollar, because if the dinar becomes greater because of the fact that they dropped the three zeros, have a real effective exchange rate applied internationally in compliance with the IMF, etcetera, you’re going to see that those guys are going to have a fit.
Next one is Alak. Our foreign exchange reserves are sufficient to create balance in the market. So here, the governor of the central bank, Ali Moshan Alak, confirms today, again on Sunday, that maybe this is in response to their acquisition.
their meetings, their foreign currency reserves are sufficient to create balance in the market. So he’s a. He’s still bullish on what he’s got. He says the governor of the central bank provided a full briefing during his hosting the finance committee on the reasons the fluctuation of the exchange rate, the mechanism of the electronic platform and its role in controlling internal and external trade, the housing initiative, file us sanctions on iraqi banks and the status of cash reserves of harsh currency at the central bank of Iraq.
Alak stated that all reserves of hard currency is sufficient to create balance in the market, indicating that the central bank sells more than $250 million daily to meet the requirements of foreign trade. So he’s meeting the daily requirements, but he’s also stating that he’s not using the us treasury to do so.
why? Because in the past, we all know that they set up correspondent banks to facilitate that. And those companies that are doing that trade are playing by the rules of international law and international compliance and would be under the strict restrictions imposed by the United States treasury and or the US Federal Reserve and international compliance that is acceptable to all banks that should be around the world that are in compliance.
Correspondent banks, they facilitate the trade movement. The dollar auction has decreased from 250 million. Why? Because they don’t need to.
US treasury takes control of Iraq’s central bank to combat money laundering. This article is phenomenal. And this is again today. Three informed sources close to the political and parliamentary decision making process in Baghdad revealed extremely dangerous information.
Confirming, this is what they’re saying is dangerous. It’s probably not so dangerous, to be fair. It’s because it’s dangerous for them. That’s probably what it is.
Confirming that the US Treasury Department has taken a permanent headquarters in the central bank of Iraq building. They considered that this step came as a result of great pressures on the iraqi banking system with the aim of limiting money laundering and dollar smuggling. As the governor of the central bank was forced.
To allocate an entire floor for the US treasury departments to monitor money transfers and prevent any illegal activities.
. Basically it says that the United States continues to exert pressure to ensure that iraqi banking system is not used to finance illegal activities. bottom line is central bank being forced to allocate an entire floor for the US treasury departments to monitor money transfers and prevent any illegal activities.
MP’s demand Iraq news to end the assignment of the governor of the central bank. So they’re still coming after him. Even the measures taken by the government to try to down low dollar prices to 130, 213 20, I guess if you will, to sell it in a supported manner. Did not reach the elimination of speculation in the markets, reducing the price of a dollar in the black market.
So it didn’t work to kill the black market just yet. But I got a strong feeling since the dollar auctions have gone from 250 million a day down to less than 25 million. I think that and we can see that consistently for at least over a week or around a week.
And not the citizens. They’re not for the citizens where the parliamentary committee they should be for the citizens. Alak and I think al Sudani show improved that.
