News, Rumors and Opinions Saturday Morning 2-27-2021

Chats and RumorsEconomicsGold and Silver

Feb 27

TNT:

Tishwash: Iraqi monetary reserves exceed $ 55 billion

The Central Bank announced, on Saturday, that the Iraqi cash reserve exceeded 55 billion dollars.

The official news agency quoted the bank as saying that "the cash reserve has now exceeded 55 billion dollars," adding that "the decrease in bank purchases from the outlets has led to an increase in the cash reserve."

He explained, "The increase in monetary reserves is the result of high oil prices." link

Tishwash: Deputy: The announcement of the final agreement for the share of Kurdistan delays the approval of the budget

A member of the House of Representatives, Siham al-Moussawi, revealed, on Saturday, the reason for the delay in approving the federal budget, indicating that the final understanding on the share of Kurdistan is the most prominent obstacle.

Moussawi said in a statement to / the information /, that "the oil revenues and the commitment of Erbil regarding the agreement on the budget and the payment of debts of foreign oil companies operating in Kurdistan are the most prominent points of current disagreements on the budget."

And she added that, "until the moment, there is no understanding on fixing the share of Kurdistan, and differences are still going on between the Parliamentary Finance Committee and the regional government," indicating that "the parliament has categorically refused to pay the federal government debts to Erbil oil companies as well as external loans to the region."

It is noteworthy that the Finance Committee in the House of Representatives announced earlier the completion of an almost final draft of the 2021 budget, which raises a number of problems and objections. link

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Courtesy of Dinar Guru

Jeff Since the start of the week Iraq has been finally putting an emphasis on their exchange rate. Article: "The Minister of Finance announces measures to support the effects of changing the exchange...and discusses the White Paper procedures" ...they're really now putting an emphasis on the exchange rate and moving it in the correct direction - raising the dinar against the dollar not the dollar against the dinar...everything is coming together right before us...we're in a great position. We just have to sit back, stay patient with it and let it happen...

Frank26 Article: "Al-Rafidain Bank leaves the seventh Item." What is the 7th item? Chapter 7 of the UN security council. What is it? Handcuffs on their currency...can you say free as a bird? Can you say Iraq is about to legally raise the value of their currency under the IMF/World Bank regulations so they can attend to their obligations not only internally but externally internationally? Quote: "the exit decision came after fulfilling all the bank's financial obligations to international financial institutions." That's article VIII. That's raising the value of their currency... this is huge. This is monstrous. This is article VIII carved in titanium. Free as a bird to do what they want to do. You think they want to stay at a program rate? No...