More News, Rumors and Opinions Wednesday Afternoon 12-13-2023
“IQD RI” – RV/GCR Update(s) from Ariel 12-12-23
Coming In Hot – So let me ask you. If the oil is crashing what else is in conjunction with it?
And if that is collapsing what else in tandem is falling alongside that answer from the 1st question?
And if you answer both of those questions what does that say about the stock market around the world in general? Is this going to be our Christmas to remember for the wrong & right reasons?
Remember the Basel 3 session on Capitol Hill? I wonder if those Capital Requirements are biting some banks in the a$$? Can you say Mortgage-Backed Securities? Can you say derivatives? Can you say fiat USD?
Now do you understand why we had to wait until this happened in order for the IQD reinstatement to occur as a result of the value reducing in the USD in order for countries to trade with America in the new economy?
https://dinarchronicles.com/2023/12/12/iqd-ri-rv-gcr-updates-from-ariel-12-12-23/
TNT:
Tishwash: An expert explains to “Sputnik” the economic impact of preventing local dealing in dollars in Iraq
The Iraqi economic expert, Omar Al-Halbousi, confirmed that the Sudanese government’s decision to end dollarization conflicts with its permission for banks to import dollars for the benefit of companies and organizations operating in the local market, and may exacerbate the gap between the official exchange rate and the parallel market price.
Speaking to Sputnik , today, Wednesday, he said that preventing dollarization in the local market and allowing the import of the dollar for the benefit of parties and companies operating in the local market will undoubtedly move the direction of this dollar to the parallel market, which has been officially recognized by the Central Bank of Iraq.
He added that this matter will exacerbate the exchange rate problem and further widen the gap between the official exchange rate and the exchange rate in the parallel market due to the increased demand for the dollar by smugglers.
Al-Halbousi added that these measures allow the entry of new speculators into the parallel market, in addition to the fact that the process of ending dollarization takes place selectively, that is, it is applied to those who do not have influence in the government, while those who do have influence are turned a blind eye to, which is another reason that hinders the successful process of ending... Dollarization.
The economic expert pointed out that ending dollarization prompted merchants to raise the prices of items sold in Iraqi dinars at the equivalent price of the dollar in the parallel market, which led to an increase in price inflation, which is trending upward over time.
Al-Halbousi stressed that the process of ending dollarization will lead to an increase in the exchange rate in the Iraqi market , which will lead to a decline in the value of the Iraqi dinar, an increase in the prices of materials, and a decline in the purchasing power of the citizen, thus exacerbating economic problems.
Last March, the Central Bank of Iraq banned the use of the dollar in ATMs, and stressed that electronic financial services provided inside Iraq through ATMs, point-of-sale devices, and the electronic payment gateway must be in Iraqi dinars .
During the past hours, the Central Bank took a number of measures that would restore dealing with the Iraqi dinar and prevent the dollar at home.
In turn, in late 2022, the United States tightened procedures regarding Iraq’s access to its foreign reserves held at the Federal Reserve, after suspicion of transferring funds to Iran, Syria, and other entities subject to sanctions. This step led to a decline in the value of the Iraqi dinar and an escalation of popular anger in Iraq. link
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Courtesy of Dinar Guru https://www.dinarguru.com/
Militia Man The dollar is going away between now and the 20th for commercial purposes. It will not be used as of the same data for taxation in the country... Will they still be able to buy dollars to travel...? Yes. Will they be able to use the dollar for transactions in country for commercial purposes? Answer, No. Will they be able to use any other currency other than the dinar for commercial purposes within the country as of January 1, 2024? ...the answer is no... Standby for this to get really exciting because everything we're seeing is telling me that we've never been here before...
Walkingstick What does it mean to float? ...It means the Iraqi dinar de-pegging [from the dollar] and pairing with a bunch of currencies in an international basket from the Middle East...The reason why they're adding it to a basket is to add value to the currency of Iraq via the international markets...The most important thing here is all of this international movements via this basket are being done with no restrictions...This rate will be determined by the amount of supply and demand of the currency of Iraq in that basket. You can already see that demand is astronomical with all the contracts that have been signed that want to come into the country of Iraq and invest...Currencies have already been swapped.
POINT OF NO RETURN: $314 BILLION Deficit Added As Interest On National Debt Spirals Out Of Control
Lena Petrova: 12-13-2023
Impending Banking Crash and Hyperinflation - Robert Kiyosaki, Egon von Greyerz
12-13-2023
In the first part of this episode, host Robert Kiyosaki invites businessman Egon von Greyerz to share his insights on the global economy.
Egon, with his diverse business experience and global perspective, warns of an impending global banking crash, likening the current economic situation to the fall of the Roman Empire.
He criticizes the US's economic policies and expresses concern over high debt levels.
Egon suggests that the only short-term solution is printing more money, which he believes will lead to hyperinflation.
He recommends investing in physical gold outside the banking system as a means of protection against risk.