News, Rumors and Opinions Saturday Morning 8-27-2022
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KTFA:
Samson: Economist: Banks' profits from the currency auction are enough to build a thousand schools per month
27th August, 2022
The economist, Diaa Mohsen, accused, on Saturday, the Central Bank of Iraq of colluding with private banks and influential political figures in the process of auctioning hard currency, noting that the profits of banks from the auction are sufficient to build a thousand schools.
Mohsen said in a statement to "Information", "The bulletin on the sale of currency at the Central Bank auction confirms the existence of collusion between the Central Bank and private banks, as well as influential political figures through the increase in the sale of currency, as it exceeded more than one billion dollars, which achieves imaginary profits as a result of the price difference between what is sold. the bank and its local price.
He added that "the increase in the currency difference for what the bank sells to private banks has increased to (20) points, as if we calculate the profits of banks for one month's sales, it will be more than one trillion dinars per month that goes to those banks and most of them belong to influential political figures," noting that "most of the money is the result of an auction." Currency has become the best way to smuggle currency."
Mohsen pointed out that "the profits earned by the banks per month are sufficient to build more than a thousand schools per month."
According to media sources, the sales of the Central Bank of Iraq in the auction of selling hard currency for dollars during the past week amounted to nearly one billion and 300 million dollars. LINK
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Courtesy of Dinar Guru
Walkingstick [via Frank26] [Iraqi bank gentlemen in US banks update] ...IMO they dealt with connections internationally because this bank is in American territory therefore they must follow American banking laws... IMO they went to deal with the ATMs. IMO they dealt with the key cards and the MasterCards and Visas...the insurance...the new small category notes inventory wise...coins (not so much physically yet). IMO they dealt with opening day...with the workers and the staff in their scheduling...with translators to help them with Iraqi citizens...with loans... [Post 1 of 2....stay tuned]
Walkingstick IMO these guys are very busy right now. The thing that I love about this is like when you're in a marathon race...oh, boy. I'm not talking about the last mile. I'm talking about the last hundred yards when that ticker tape is visible. You can see it. It's there. You're about to get to it...I believe these two gentlemen are the equivalent of two marathon racers that see the finishing line and are sprinting at it because the two are very busy right now with the CBI...
Inflation in 2022 - What’s Happening and What’s Next?
Lynette Zang: 8-26-2022
Sudden Dollar IMPLOSION Ahead | Michael Oliver
Liberty and Finance: 8-27-2022
The U.S. dollar is rallying to multi-decade highs, but momentum analyst Michael Oliver expects a sharp reversal soon. If the dollar crashes, he expects gold will snap higher. Silver will follow, with an even more dramatic move to the upside, he forecasts.