More News, Rumors and Opinions Sunday Evening 2-6-2022

Feb 6

KTFA:

Samson: The Central Bank announces the increase in its reserves of gold and hard currency

5th February, 2022

The Central Bank revealed, on Saturday, the increase in its reserves of gold and hard currency, while explaining its value.

Deputy Governor of the Central Bank, Ihsan Shamran al-Yasiri, told the official news agency, “The central bank’s reserves of hard currency witnessed a stable rise for more than a year, affected by the balanced measures of monetary policy, with it exceeding the $64 billion barrier at the beginning of February 2022, as well as exceeding the gold assets in the bank’s possession. The central bank has 96 tons in reserves.

He added, “The Central Bank continues to support banks to expand development opportunities in the country and reduce the financing gap.”

Earlier, the Central Bank of Iraq announced an increase in the allocations of its initiative to lend to small and medium enterprises.

In a statement received by Mawazine News, the governor of the bank, Mustafa Ghaleb, stated that “the Central Bank has increased the amount of its initiative to lend to small and medium-sized enterprises by an amount of one trillion dinars, bringing the total amount allocated for this goal to two trillion dinars,” noting that “the Central Bank’s lending initiatives contributed to supporting the sectors of industry, agriculture, housing and trade, and they now constitute nearly 30% of the total credit granted to the private sector, and have contributed an important percentage to the GDP.

He added, “There are some loans provided by the Central Bank that are granted without interest, without an administrative commission only.” The percentage of its implementation reached 90%, which prompted us to increase its amount by an additional trillion dinars.

And he continued, fearing, according to the statement, that “the monetary policy tools contributed greatly to supporting the economy and overcoming the financial crises that occurred in the country.”

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Courtesy of Dinar Guru

Paulette IMO, the week to watch for any action from the UNSC is 2/22-2/24…then we watch for what the IMF does…as, ultimately, the most important is for the IMF to acknowledge Iraq’s full acceptance of all Article VIII obligations ……hopefully, in the interim, the CBI implements the Delete the Zeros project that has been postponed numerous times...the mechanism of implementation of the Delete the Zeros project will be the “Telltale” to those of us that have studied so long and are holding IQD in expectation of a financial windfall...Exciting Days Ahead!!!!!

Pimpy Article "Central Bank: No change in the dollar exchange rate" that's putting it pretty bluntly...so no change in the rate...As usual I heard people tripping around about the exchange rate...that usually happens around budget time...'They've secretly changed the rate.' What the heck? How's it a secret if they knew about it? Somebody said, 'Oh, we heard that it's gonna be 11 to $1.'... Another rumor I'm hearing right now it that the big notes have been obsolete...there's no information out there about that...there's more rumors about the deletion of the zeros although I haven't seen any articles about it.

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TNT:

DrPete: US considering a radical rethinking of the dollar for the digital world

https://www.npr.org/2022/02/06/1072406109/digital-dollar-federal-reserve-apple-pay-venmo-cbdc

The U.S. is considering a radical rethinking of the dollar for today's digital world

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