More News, Rumors and Opinions Friday Night 12-16-2022
KTFA:
Clare: Citizens are calling for lowering the price of the dollar and preserving the value of the dinar
12/16/2022 Baghdad today - Baghdad
(Baghdad Today) surveyed the opinions of a number of citizens and academics regarding the increase in the exchange rate of the dollar and its economic and living impact on people's lives, especially the poor and middle class, which caused the devaluation of the Iraqi dinar.
Today, Friday, merchants and businessmen called on the government and the central bank to include government banks in selling dollars.
And through (Baghdad Today), merchants and businessmen stressed "the need to allow and include government banks in selling the dollar and not monopolizing it on private banks only, specifically selling through the recent central bank decision through the documentary credits service."
Yesterday, Thursday, the Central Bank of Iraq attributed the rise in dollar exchange rates in the local markets during the previous days to building an electronic platform that meets the requests of banks through it. LINK
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Henig: The CBI decides to reduce the price of the dollar
Thursday 12-16-2022
Baghdad / NINA / - The Central Bank of Iraq decided to reduce the exchange rate of the dollar to 1465 dinars per dollar.
The CBI stated, according to a document, that the decision came for the purpose of encouraging the public to finance its imports through documentary credits instead of remittances.
It added that in the special session, the price of selling dollars to the beneficiary / customer of the bank / who finances his imports with documentary credits was reduced to 1465 dinars per dollar instead of 1470.
The CBI explained that it will sell the dollar to the bank / for the purposes of documentary credits / for an amount of 1455 dollars instead of 1460. LINK
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Henig: The National Investment Commission: We will open new projects soon and focus on developing this sector inside Baghdad
Baghdad / NINA / - The National Investment Commission revealed its upcoming projects and plans to develop the capital, Baghdad, and other provinces.
The head of the commission, Salar Muhammad Amin, said, in a statement to the National Iraqi News Agency (NINA), "We have a package of new projects that will be opened soon in the capital, Baghdad, and the provinces, which are strategic projects with developed countries and all parties that wish to invest in Iraq."
He explained, "The authority is concerned with all residential and industrial sectors, roads and bridges, so our plans are currently focused on developing the transport sector within the capital, Baghdad, through the establishment of railways and the Baghdad metro."
He added, "The railways inside Baghdad are the most priority for us, then the railways between the provinces, and we are currently working with the Ministry of Transport to complete all legal procedures to be presented successively as investment opportunities for companies," noting that "next year will witness a good renaissance of these projects in all provinces."
He went on to say, "National companies are concerned with these projects and in coordination with foreign companies that will transfer expertise in these projects."
He added, "Our investment projects are open to all regions and provinces, since Iraq today needs to build more than 3 million housing units throughout the provinces," noting that "the National Commission and its branches within the provinces have completed building more than 250,000 housing units throughout Iraq, and this paves the way for the opening of major housing projects in the future," they said, "the previous delay in investment projects was caused by the instability of the security situation and the political crisis, so many strategic projects were delayed."
On the file of Al-Rafil residential city project, the head of the National Investment Commission explained, "The project will be a new integrated city according to a modern urban style, with an area of more than 106,000 acres, in cooperation with an international company to present new designs and have them approved by the sectoral authorities," noting that "Governmental institutions will soon be distributed to work with the advanced companies to implement the project." LINK
Henig: IMO: Are you all seeing the same thing I am here? In my opinion, you can't carry out all of these development projects, trade agreements, and investment opportunities at the same financial level you've always occupied. You MUST have a higher level of finance to make all of this happen. In my opinion, that means they're expecting the Dinar to be worth MUCH more than what it is right now.
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Henig: The President and Chief of Staff of the Army stress the need to raise the combat capabilities of all types and units of the Army
Baghdad / NINA /- The President of the Republic, Abdul Latif Jamal Rashid, and the Chief of Staff of the Army, Lieutenant General Abdul Amir Yarallah, stressed the need to raise the combat capabilities of all types and units of the army.
A presidential statement stated that the President of the Republic received, today, Thursday, at the Baghdad Palace, the Chief of Staff of the Army
who presented a briefing on the security and military situation in Iraq, security developments and plans to continue the momentum of military operations to hunt down the remnants of terrorism and eradicate its roots and sources.
It also took place, according to the statement, the need to raise the combat capabilities of all types and units of the army and work to rehabilitate them in terms of training, equipment and armament, in order to achieve a safe and stable life for all Iraqis. LINK
Henig: IMO: It does no good to improve your economy without being able to protect yourself. Along with improving their economy, they're improving their security.
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Courtesy of Dinar Guru
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The CBI has been having meetings with everyone! FRANK: That's exciting because if you look at the people he's meeting with these are the right people...they are all part of the reforms both economic and monetary. Yeah, I'm excited to see what is happening in this month of December.
Walkingstick [via Frank26] This thing about Sudani receiving the budget, he's making little tweaks because he had some conversations with the CBI.
The Next Gold Rush Will Shock The World - Bank Calls For $3,000 In 2023
Sean Foo: 12-15-2022
Gold prices are starting to rise again and we have Saxo Bank calling for a wild $3,000 gold price in 2023. While this might sound crazy, there are a lot of events lining up that might push gold to the stratosphere. These include the Fed slowing down with their hikes, the US dollar losing relevance and the fall of bitcoin. Here's what you must know!
Powell Admits He’s Clueless on the US Economy - Ep 862
Peter Schiff: 12-15-2022
· The days of low inflation are over.
· Jerome Powell threw cold water on investors’ hope.
· Terminal rate of interest continues higher.