Let’s get into the real news of this period.
So, the news this period is all VERY GOOD! It may not be exactly what we all hoped for but nonetheless VERY GOOD. It is only early January of 2025 and we are still waiting for the news of the second in-country revaluation that they told us to expect once they get the parallel market under control. Is it now under control?
Next let’s revisit this damned Oil and Gas law. Yes, I know we are all sick and tired of it. I wish that Iraq could just pass it and get it done. Remember that this is a constitutional requirement for the Iraqi new 2005 constitution. We have been told many times in articles that this “referendum” must be written and passed as part of the “Stability” for Iraq. I hope everyone can see exactly why they are telling us this. You can go read the entire article today titled “A GUARANTOR OF ZEROING OUT CRISES.. PARLIAMENTARY DEMANDS TO LEGISLATE THE OIL AND GAS LAW”. In the article the Kurdistan National Union parliamentary bloc called on the federal government, on Tuesday, “to expedite and send the oil and gas law to the House of Representatives for study and approval as quickly as possible.” Why the urgency?
The bloc’s spokesperson, Susan Mansour, said in a statement to Al-Maalouma Agency, “The enforcement of the oil and gas law is sufficient to eliminate the problems between Baghdad and Erbil,” noting that “the law was very late in being included in the central government.” This last statement is all telling. To me it sounds like it’s one of the last, if not the last piece from the constitution to forming their new central government. Yes, it has taken this long already and enough is enough.
Anyone with half a brain can see that the Oil and Gas Law (or HCL) is NOT completed. Really now, how can anyone say this knowing that they keep publishing these articles on this subject matter. Many tell you they “assume” its all done as it no longer is in the news. But yes, it is in the news! Well… here is yet another article out of many about it and this time they are telling us its urgent. Could this be a piece of the puzzle in getting this RV that most just ignore by saying it’s done and so they don’t pay attention to it. Let’s explore this more today.
This article seems to me the most urgent I have read so far on this subject matter. Why now? Folks they told us in early 2023 that they would resolve this issue that year, but here it is two years later. Is this yet another issue that must be resolved prior to moving ahead with the currency reform? Have they set a target date for this? Are they trying to tell us something?
So what do know for a FACT about this law? We know that the law had been passed on to parliament already and the first reading conducted. That was a year ago. Then it was passed back to Al-Sudani’s cabinet for changes and they are sitting on it. So far these changes have not surfaced back to parliament in the new law for a second reading. Why? I believe it is held up because these changes are part of what we are looking for. Remember that oil revenues are not going to be the sustainable future for Iraq. They must go to other sources of revenues as they are now doing. We read about its successes in today’s articles.
I promised I would continue my weekly calls to Iraq to learn what is going on and that is what I fully intend to do. I will be calling on Wednesday and relaying the info of my call to you on Thursday. I will ask about this Oil and Gas Law again. Remember too that I need to unwind the mystery of what the hell is holding up the Project to Delete the Zeros and move ahead. Could simply be the Oil and Gas Law? The CBI seems to be at a standstill now.
It is my understanding, as told to me by my CBI contact, that they are monitoring the parallel market very closely at this point. They are monitoring the economy for inflation as a result of this latest move of removing the currency auctions. So far, the dollar has not changed all that much. The enormous spike in the dollar rate everyone expected did not occur, as the CBI said it would not. So many of these economists were not correct. What do they know when it comes to this unchartered territory anyhow? These are all unprecedented moves by the CBI and there are no standard economic doctrines for them.
However, having said all this, there is still some very good news to share today. We should all be happy nothing in Iraq or outside of Iraq may cause an issue. Many speculate the Trump will slap sanctions back on Iran soon after the inauguration. Folks, this is pure speculation. The important part is that if this does occur, Iraq is much more sheltered from its effects due to moving the dollars sales to correspondent banks, outside of Iraq. The international auditing firms also protect the dollar sales from corruption, something that Iranian influence in the government perpetrated.
So, the US certified their electoral votes yesterday and so onward to the January 20th inauguration timeframe for President Trump for a second term. Will Trump be more responsive to Iraq than Joe Biden?
There is recent celebrating by the Central Bank of Iraq as it announces its success in adhering to its program related to the transition from external transfers through the electronic platform to the work of Iraqi banks through their foreign correspondent banks. Claims that the closure of the platform was expected to lead to an increase in demand for dollars in the parallel market, as many importers and traders rely on buying hard currency to meet their needs, thus driving up the price of the dollar even more. So far these claims have not occurred to any effective extent.
Well folks all this negative talk from sceptics and challengers of the CBI action about the closure of the platform did not pan out. Many days have passed already. Dr. Mahmoud Dagher, a prominent financial expert, commenting on the first day of official work after the New Year’s holiday and the start of implementing the decision has told us in the Iraqi news there has only been a slight increase in the dollar price. You might want to read the article titled “THE IRAQI DOLLAR AND THE FIRST DAY “PASSED PEACEFULLY”.. THE CENTRAL BANK IS INNOCENT AND DEVOTED TO THE DINAR”
I am not going to beat a dead horse with much more of the ongoing news about the closure of the currency platform. I think I have covered it sufficiently in the past. Let’s move on and just watch and see what happens with the parallel market.
An interesting set of directions (or more like investors advise) was published on the Bitcoin World blog publishing an article titled “COMPREHENSIVE GUIDE TO TRADING THE IRAQI DINAR (IQD) ON FOREX” This was published as recent as on 12/31/24. The questions we must as is why did they publish this and why now?
Here is a snip-it from the article:
The Iraqi Dinar (IQD) is the official currency of Iraq, and while it may not be as widely traded as major currencies like the US Dollar (USD) or the Euro (EUR), it holds significant interest for Forex traders looking to diversify their portfolios. Trading the IQD on the Forex market presents unique opportunities and challenges, influenced by Iraq’s economic conditions, geopolitical factors, and global market trends. This comprehensive guide delves into everything you need to know about trading the Iraqi Dinar on Forex, including live rates, trading strategies, market analysis, and tips for successful IQD Forex trading today.
You can follow the link below to view the entire article:
https://bitcoinworld.co.in/trading-iraqi-dinar-iqd-forex/
In another article titled “ECONOMIST: NEW STEPS BY THE CENTRAL BANK REGARDING DOLLAR TRANSACTIONS” economic expert Safwan Qusay revealed on, Sunday, that there are new steps by the Central Bank to enhance transparency and global openness. Qusay said that “the Central Bank of Iraq and the US Federal Reserve are moving towards authorizing Iraqi banks to contract with international auditing companies, instead of relying on the dollar selling platform alone, with the aim of auditing credits and transfers before they are implemented.” And noting that “this step is a turning point that contributes to drawing a clear map for the work of Iraqi banks on the global stage. But we already knew this, didn’t we?
Three very interesting articles in today in the news talk about the Iraqi non-oil revenues and the “unprecedented” climb in 2024 They are titled “GOVERNMENT ADVISOR: NON-OIL GDP GROWTH RATE IN 2024 IS UNPRECEDENTED”, “IS IRAQ FACING A CASH CRISIS?” and “AL-SUDANI CONFIRMS THAT THE GOVERNMENT HAS TAKEN PRACTICAL STEPS TO DIVERSIFY THE ECONOMY”
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Saturday, “that the growth rates of the non-oil gross domestic product will rise in an unprecedented manner during the year 2024” and is expected to climb higher in 2025. Folks I just wanted to bring this news to remind you what the Finance Committee told us years ago. At that time they said that the non-oil revenues, if managed correctly, could rival the oil revenues. But this is only the start. There is also the opening of the new port of FAW which has not yet taken off. So they are not yet there, but they are making great strides. Let’s see what they can do in 2025 to drive this even to higher levels of revenues. Remember the ASCUNDA is in place, but not yet turned on until they have a FOREX rate. This will substantially drive-up revenues as well as the sales of many of the natural minerals being mined.
The part in one of the articles that really struck me was the talk to put in place practical steps, not theoretical ones, in the matter of diversifying the economy in the oil sector. It was pointed out that “Iraqi competencies have begun to manufacture and establish units in refineries, which gives value to the product and drives market stability. A country that produces more than 4 million barrels per day cannot continue to import oil and gas derivatives. “It was added: “We have started several strategic projects that are being implemented for the first time in the country and in the history of the oil industry, and we have made great strides in solving the problems, especially in the issue of gas flaring, through the contracts and agreements concluded, and we have set a ceiling not exceeding 2028 to stop gas flaring and a zero percent rate in flaring associated with gas, and we are continuing to promote the patches and fields for free gas.” Incidentally if you recall years ago the minister of energy told us that they plan to capture this gas from the flaring and use it to power the grid. The excess will be sold. But remember too they will need technical assistance in this work from outside engineers from the west.
There is also the Development Road Project. Please see article titled “AL-SUDANI: THE DEVELOPMENT ROAD PROJECT WILL ENHANCE IRAQ’S POWER IN THE REGION”. Prime Minister Mohammed Shia al-Sudani was briefed on the work of the organizing committee for the Seventh Baghdad International Dialogue, whose activities will start on February 22-23, 2025 under the slogan “The Path to Iraqi Development… Alliance of Interests and Geopolitical Stakes”.
We all need to just take a step back to just a couple years ago and analyze all the progress that has been made. It has been like someone pressed a button and off they went. I mean people went off under Al-Sudani’s leadership to build back Iraq. Could we maybe compare Al-Sudani as one of God’s handy men, like Donald Trump in the U.S. under the conservative Republican party, Nigal Farage of the UK Reform party or even Giorgia Meloni of Italy of the European Conservatives and Reformists Party. Who will God assign to Canada next to clean it up? How many other nations are experiencing the hand of God too? Who will be next? Are you paying attention?
So, these globalists make us wait for Iraq to progress and further its agenda to become a leader of nations once again. But for the Iraqi people their patience is growing thin. They want their country back and to do this fully they need their currency returned to them. The reasons for cutting them off of FOREX no longer exists and so when will they return to their “glory days” ?
The globalists were bent on destroying Iraq first with their wars so they can “build it back better” and do it their way. Their way is the way of corruption with complete power and control. We as investors witnessed the destruction and corruption over these past 20 years. When will it end? It is ending. I do not think the Iraqi people are going along with this globalist plan. The Iraqi people are much more resilient than thought. When the Shiites, Sunnis and Kurds join together and finally stop their bickering and work together for a patriotic and unified Iraq, there will be no stopping them. By following the progress of Iraq we can now see this dream is underway, especially since Al-Sudani has taken his seat as prime minister over his first two years of service. Yes, he is serving the Iraq people and not himself. Does this sound familiar for any politician in your country? Will the next Trump administration give the Iraqi people back their nation? Will this new U.S. administration be a hindrance or a blessing upon Iraq?
