More News, Rumors and Opinions Thursday Afternoon 1-5-2023
TNT
CandyKisses: The dinar is in its strongest degree of stability.
Baghdad / NINA / - The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed: The dinar is in the strongest degree of stability..and the fluctuation of the currency price is caused by an external regulatory constraint.
He told the National Iraqi News Agency ( NINA ): The fluctuations in the exchange rate came due to a regulatory restriction imposed by international compliance mechanisms on the countries of the dollar region, including Iraq.
Saleh added: There is a surplus in the current account of the balance of payments that is not less than (15%) of the country's gross domestic product, which is a really high number, while the balance of foreign currency reserves amounted to about 100 billion dollars, which is the highest in Iraq's financial history.
He explained: The Iraqi dinar is theoretically at its strongest degree of stability, but the international compliance controls that required greater transparency and governance in the behavior of traders in foreign currency through financing foreign trade from the window of the Central Bank in foreign currency is the reason for the temporary supply of foreign currency in response to demand.
Kat Update: Charlie Ward “Basel IV Compliant as of January 2, 2023”
Charlie Ward: BANKS HAVE TO BE BASEL IV COMPLIANT as of 1-2-23.
Basel IV is they have to have ASSETS to back their position as it was in the 1970’s.
But when they started printing money everything got out of hand.
Those days are over.
THE BANKS HAVE TO BE BASEL IV COMPLIANT.
The MSM will pretend they got an extension.
No. That was last year. There is no extension.
Basel IV is now in operation, Jan 2nd, 2023.
If you are in a position where you don’t have assets to back your position
you’re not allowed to open your doors for business.
An interesting twist in the tale:
THEY’VE been pushing the Central Bank Digital Currency.
One problem. IT’S NOT BASEL IV COMPLIANT.
THEY DON’T HAVE PRECIOUS METALS & GOLD TO BACK IT.
DEAD DUCK IN THE WATER.
Do your research. Right there in plain sight.
Very difficult to launch a Central Bank Digital currency when the banks have to be Basel IV compliant
as of today 1-2-23
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Courtesy of Dinar Guru
Frank26 Question: "If Iraq keeps accumulating reserves why do they need to revalue?" Because the reserves are not a countries currency. The reserves are a combination of many other countries' currencies and assets and gold and whatever. The currency is what needs value not the assets. The assets add value/gives value to that which does not have value.
Walkingstick [via Frank26] The insane reserves the CBI keeps talking about that is what's going to allow the IQD to be asset backed. It's not just oil. It's all of their resourses. That's what makes this currency have so much potential and everybody wants it. It's amazing.
Iraqi Dinar update for 01/04/23 - Demonstrators want better exchange rate
Pimpy’s Investment Chat/The Other side of things
Bond Yields Reverse, MMRI Rises, Stock Futures DROP. Important Updates!
Greg Mannarino: 1-5-2923