More News, Rumors and Opinions Sunday Afternoon 4-9-2023
Submitted by Dinarmama7
UNREAL: The fake Okie has not been posting recently. SO, I went to his
twitter account today.
Ever since April 1, he has done nothing but bash the RV. Up till March 31, he was using stuff from OOM,
So, He wrote on April 1 –
#WEARETHEPEOPLE These tweets I've been putting out were indeed snippets from the “real” Okie Oilman & a little bit of his sidekick Bulldog75, circa 2011/12. My sincere apologies for being a tiny bit
misleading, but I couldn't think of any other way to get your attention. >>>
Courtesy of Dinar Guru
Frank26 Question "If the American dollar gets driven down to, let's say .0001 how can that be 1 to 1 with the dinar?" Because you cancel the 3 zeros on both sides and it becomes 1 to 1.
Sandy Ingram Article "Goldman Sachs: Oil will reach $100 a barrel in April 2024" That's about a year from now...[we] believe this prediction is right on target because --> Article "Iraq joins Arab countries in reducing oil production" ...This move is a precautionary measure aiming to support the stability of oil markets...This reduction will go on until the end of 2023.
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TNT:
Tishwash: Foreign currency window and the stability of the dinar exchange rate
The procedures of the Central Bank and the three packages issued by it to facilitate obtaining foreign currency for foreign trade purposes and cover travel, treatment and study expenses for citizens, and the strict adherence of banks to the instructions and controls for external transfer for the year 2023 and the due diligence instructions, and the Central Bank’s departments dismantled the obstacles facing foreign transfers operations in cooperation with international bodies.
Which led to the entry of new numbers of merchants and importers to the electronic platform, which raised the rates of foreign remittances amounts in the foreign currency sale window, which ranged between 150-200 million dollars per day, and this was reflected in bridging part of the gap between the official price and the price parallel to the exchange rate of the dinar against the US dollar
And we expect During the coming period, the dinar will continue to recover and its purchasing value in the market will increase. We also expect that the central bank's efforts will continue to issue new packages to facilitate external transfers.
The important thing in the increase in foreign currency window sales is to make sure 100% that all foreign transfers that are made according to the electronic platform are sound transfers according to international standards and that the foreign currency sale window is an economic indicator that achieves one of the goals of monetary policy.
And that “drawing accusations against the Central Bank and banks of wasting foreign currency without evidence proving the existence of suspicions of corruption, money laundering, or currency smuggling, and that the proposition that says selling currency is a waste of public money, this is a description that has nothing to do with the economic process.”
It must be noted that “the process of selling the currency window began to be implemented by the Central Bank on 4/10/2004 in implementation of Article 28 of the Central Bank Law No. 56 of 2004, which allows the Central Bank to buy and sell foreign currency, and work has continued on this process to meet the needs of the Ministry of Finance in terms of currency For the purposes of the operational budget, the purchase of dinars from the public for the purpose of controlling liquidity level
Which is known as the process of monetary sterilization on the one hand, and to rotate the dinar and resell it to the Ministry of Finance for the purposes of paying salaries and wages and securing government expenditures as well as meeting and covering imports, and maintaining the stability of the target exchange rate from the Central Bank.
And that “the window for selling foreign currency is considered one of the largest open market operations in controlling local liquidity levels and placing the cash surplus in its proper paths, which is a good economic indicator and achieves one of the objectives of monetary policy, and this is consistent with what is practiced by” the Central Bank of Iraq of multidimensional functions, as it is concerned with financial stability Managing the payment system, managing foreign reserves, licensing and monitoring banks and financial institutions, and setting up preventive controls, in addition to other tasks related to cash issuance and publishing economic data, indicators and forecasts.
And that “the basic tasks that the central bank performs is managing monetary policy that aims to control inflation, stimulate the economy, balance the balance of payments, and achieve monetary stability.” link
Macron’s Trip To China: Help Me Xi, You’re My Only Hope
Sean Foo: 4-9-2023
Macron's trip to China just highlighted one big reality check, the EU's economy needs China.
As the protests in France escalate, Macron cannot afford to decouple with Beijing.
He went on a trip to help secure business deals for France and this is just the start of more European nations decoupling from the Western agenda for closer economic ties with China.
This is the power of cheap energy plus manufacturing!
Timestamps & Chapters:
0:00 French Economy In Trouble
2:23 France's Pension Crisis
4:51 Macron's Journey To China
6:45 Big Economic Wins!
9:03 EU Is Waking Up
11:09 Why China Is Winning