More News, Rumors and Opinions Saturday PM 12-9-2023
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TNT:
Tishwash: Why does the dollar maintain its parallel price despite the “million shipments” arriving in Iraq?
Today, Saturday (December 9, 2023), the Parliamentary Finance Committee commented on the reason why the dollar exchange rate remained high in the parallel market, despite the arrival of shipments of the dollar to Iraq.
Committee member Jamal Kujar told Baghdad Today, “The reason the dollar continues to rise in the parallel market is the continuation of black transfers through which money is paid for a lot of imports, especially trade with Iran and Syria.”
Cougar stated, “The shipments of dollars that have arrived in Iraq and will arrive are for the purpose of providing this currency to pay for commercial work that is within the platform and not outside it, and for this parallel market, the dollar will remain high in it due to black transfers, for which the government has not developed any real solutions so far.” .
The Central Bank of Iraq had allowed licensed banks to import dollars from outside the country to cover legitimate requests for dollars.
On the other hand, Iraq's annual imports from Iran amount to approximately 10 billion dollars, according to statistical data, while all of these imports are financed from the parallel market dollar due to the inability to transfer the dollar to Iran by the Central Bank of Iraq. link
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Courtesy of Dinar Guru https://www.dinarguru.com/
Mnt Goat Article Quote: “Encouraging and dealing with the local currency under the current economic conditions in the country is an important issue, especially with the government’s tendency to “strengthen” the Iraqi dinar against other hard currencies, especially the dollar, as well as seeking to present it first in order to be a “issue of a homeland” in a real way." They are telling us once again they must complete the currency reform first as in integral part of rebuilding...the economy and the country...Their goal is to have the dinar come out higher than the dollar. This is not a fairy tale or rumor. This is FACT...
Militia Man Article - "The Finance Minister to the employees of the budget department, No vacation until the end of the year. " In other words, stay working. We got work to do and it's probably likely going to be significantly more. Why? Because if they change the value of the exchange rate their budget is going have to be addressed in a big way...It's telling you the budget's going to be sorted by the end of the year. We're getting close...the year is coming quick.
Interest Rate To Spike To Above 8%, Trigger ‘Depression’, Wipe Out Wealth | Felix Zulauf
David Lin: 12-8-2023
Later in the decade, the economic is headed for a crisis never before seen, according to Felix Zulauf, Founder of Zulauf Consulting. Here's why.
0:00 - Intro
1:05 - Job openings declined
6:10 - Gold
10:20 - Multi-polar world
14:42 - Economic crisis
17:47 - Interest rate to spike
21:40 - U.S. dollar
22:48 - Commodities
24:38 - Oil demand
26:10 - Inflation outlook
27:39 - Portfolio allocation
29:05 - Stock market outlook
30:17 - Sector allocation
31:37 - Emerging markets
33:10 - Bitcoin
34:19 - Efficient Market Hypothesis