TNT:

Tishwash:  A new statement from the financial advisor on exchange rates and central bank policy

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Friday, that the central bank's monetary policy is able to control the stability of the exchange rate.  

Saleh said, to the official agency, and followed by "Nass" (June 18, 2021), that "the monetary policy of the Central Bank of Iraq and its sufficient foreign reserves has the ability to intervene in the exchange market by meeting legitimate demands for foreign currency, in both its two forms, the cash dollar and foreign transfers in foreign exchange and for the account of customers."

Banks are private sector merchants seeking to finance their foreign trade of goods, services and various benefits.  

He pointed out that "this policy also has the ability to meet small commercial requests in the same foreign currency, which is being met additionally, which is also one of the important windows in the stability of the exchange rate at its official borders, all of which leads to the stability of the general level of prices."  

He added that "controlling the levels of local liquidity by sustaining the operations of sterilizing the surplus of local liquidity to achieve balance in the exchange market and in accordance with the objectives set by the amended Central Bank of Iraq Law No. 56 of 2004 will remain the practical course in correcting emergency price deviations and controlling and sustaining stability."  

The Central Bank of Iraq had confirmed, earlier, the stability of the dollar exchange rate and the absence of any intentions to change it.  

A statement by the Central Bank stated that "what is being circulated is not true, as the price chosen at the end of the year 2020 for the dollar exchange was based on in-depth studies of the requirements of the economic and financial situation and the objectives of monetary policy."  

The bank indicated that "its foreign currency sales are based on the stability of its foreign reserves at excellent levels, as those sales have been increased to meet all legitimate requests," stressing that "the price will stabilize as a result of the measures taken by the Central Bank recently and that it will take."

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MountainMole:  Tony has often said that at the end everyone is trying to negotiate for a larger piece of the pie.

As long as this pie has been on the counter and everyone slicing and dicing please everyone be thankful that you get a bite.

Yes, I know we're all waiting to lick the pie plate. All we need is a lick a very small lick.

So, you big boys get your slice and allow the rest of yes to lick and smile and be thankful

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Courtesy of Dinar Guru

Petra    Electronically they're definitely showing they're Article VIII.  They just need to do the final step and demonstrate their real sovereignty and that's the ability to hold and defend a currency at a rate that's internationally transacted.  That's the last step.  Now that they've demonstrated they can do this electronically...at the push of a button using an app they're good to go.  We just need that small little thing called a rate...the heat is on.

Pimpy  Lot's of good news.  The agreement was met [Between Baghdad and Kurdistan].  It's made, let's make sure their payments get there.  International coalitions handed over a million dollars worth of weapons.  This is great news.  The dinar is gaining on the US dollar as far as its value is concerned.  Great news.  Japan is loaning out money for the Basra refinery to be done instead of China - that is great news.  It's all looking good.  All of these things are tied into what's going on over in Iraq as far as our currency is concerned.  This is good news.

The Atlantis Report:

The Inflation Monster is now Out of The Box As The Wealth Transfer to The Ruling Class Continues

Premiered 29 minutes ago

The Fed's war on America continues. Rates at zero, let inflation run hot, destroy savings, force Ma & Pa to keep working at the dirt factory just to keep cat food on the table.

CPI is going to be big percentage change from the previous report. We see this in everyday life; things like lumber, appliances, housing and cars. We’ve had an increase in prices, because demand out weighed supply.

However this is baked in already in investors sediment. The minute the fed talks of interest rate increase, the dynamic changes.

Because borrowing becomes more expensive and will slow growth of manufacturing and business which translates to employment. Right now the employment ( on the books hasn’t recovered) but we know this is BS. Because everywhere you look business are looking for employees and desperately need labors.

This is the effect of stimulus, unemployment and child credits. We have a shortage of labor. Which is driving up wages. So they ( the fed) are being careful not to tweak with this matrix.

 If you change something in the matrix you can inadvertently cause some adverse other action that may not be so easily fixed. I think we are safe on interest till 22. Which is the bigger concern in this scenario. They may use other tools to suppress inflation beside tooling with interest rates.

There maybe an immediate reaction but business will go on as usual and everyone will continue to ride the gravy train. The Bull isn’t done running yet .

For the full transcript go to https://financearmageddon.blogspot.com

https://www.youtube.com/watch?v=WaQqvnvRlwo