Awake-In-3D: The Connection Between Inflation, Financial Collapse and Our GCR

Awake-In-3D: 

The Connection Between Inflation, Financial Collapse and Our GCR

On  July 15, 2023  By  Awake-In-3D

In  RV/GCR Articles, Fiat Debt System Collapse Articles

Despite constant attempts to prop up the system through Central Bank policy interventions, the built-in doom loop of fiat currency debt systems literally guarantees their inevitable collapse. The stability of our global fiat currency debt system relies on a constant erosion of the value of money. It’s called INFLATION and it’s typically presented by mainstream financial media as something that simply exists in an economy as a normal component of any monetary system. This narrative is false.

Frankly speaking, inflation is created by fiat currencies and the monetary authorities that control them. This article outlines the truth behind inflation and its essential role in sustaining our credit-dependent fiat system and economy. The very design of fiat currency systems is that they sacrifice the many in favor of the few.

What You Will Learn from This Article:

• The crucial role of inflation in sustaining our credit-dependent economy

• The impact of accumulating debt and the dangers of interest accrual

• Traditional monetary policy options for expanding credit and their drawbacks

• Why inflation is used to reduce the burden of rising debt so that more debt can be created

• The sacrifices made by savers and common workers in the face of inflation

• The impending collapse triggered by rising global risks and inflation

• The unsustainable nature of our current economic paradigm

• How Our GCR will eliminate all of the above

The Problem with Debt

Fiat currency debt systems are inherently flawed and destined for collapse. By relying on constantly increasing levels of debt to sustain themselves, these systems possess a built-in self-destruct mechanism that cannot be deactivated. The constant need for credit expansion (debt) and inflation to keep the system functioning creates an ever-growing burden that eventually becomes unmanageable. As debt accumulates and interest accrues, the economy and financial system reach a tipping point where borrowing becomes unaffordable, interest rates skyrocket, and the bubble bursts.

One of the major issues with debt is that it accumulates interest over time. The more we borrow, the more interest we owe. If our income doesn’t increase accordingly, there comes a point where all our extra money goes towards paying off debt, and we can no longer borrow more. This situation leads to a recession, where the economy slows down, and people struggle to make ends meet.

Policy Solutions and Their Drawbacks

To overcome the limits of credit expansion, there are a few policy options available. The government can borrow large sums of money and distribute cash to households. However, this leads to more government debt and borrowing constraints in the long run. Another option is for the central bank to lower interest rates, allowing consumers to refinance old debt at lower rates. While this can provide temporary relief, it doesn’t address the underlying issues. But inflation does!

The Role of Inflation: It Is Deliberately Created to Allow More Debt Creation

The most significant “solution” used by Central Banksters and Elitist policy-makers for continuing debt creation and keeping the fiat system alive is inflation. By increasing the amount of money in circulation and pushing up prices, inflation reduces the burden of existing debt. Let’s take the example of a home mortgage. Over time, as wages increase due to inflation, the fixed mortgage payment becomes a smaller portion of income. Inflation essentially erodes the value of money, making it easier for borrowers to pay off their debts.

Financial Sacrifices are Pushed Onto Everyday People

While inflation helps debtors, it comes at a cost to savers and common workers. Savers see the value of their savings diminish over time due to inflation. As interest rates are lowered to promote borrowing and spending, savers struggle to keep up with rising prices. Additionally, inflation forces common workers into higher risk investments to make up for the eroded value of their labor. This puts them at a disadvantage compared to the wealthy, who have better access to high-value assets.

Diverted Capital and Productivity

The constant need for higher-risk speculation to keep up with inflation leads to a misallocation of capital. Instead of investing in productive areas that boost economic growth, capital flows towards speculative risk markets. This results in a neglect of vital sectors like infrastructure, which ultimately harms the overall economy. The pursuit of short-term gains takes precedence over long-term stability.

The Coming Collapse

As global risks increase, borrowing becomes more expensive, and interest rates rise. This leads to a decline in borrowing and a spiraling economy. The effects of rising inflation become more pronounced, causing a breakdown in the system. The inflated speculative bubbles burst, leaving behind a trail of economic devastation.

It is an Unsustainable Paradigm

The current paradigm of a steady and sustainable economy is built on fallacies. Globalization and financialization, which were once deflationary forces, have reached their limits. Real-world inflation is eating away at discretionary spending, while the bursting of high-risk, speculative bubbles further erodes wealth. Our system is on the brink of collapse, yet those in power have no sustainable options other than doubling down on their own failed policies.

Our GCR Solution: A Financial System Reset Employing Asset-Backed Currencies

In light of the inherent flaws and impending collapse of our current fiat currency debt system, it becomes clear that a radical transformation is necessary. Enter the reality of a Financial System Reset, which advocates for the implementation of an asset-backed currency system, under a Global Currency Reset (Our GCR).

Monetary Value Preservation: Asset-backed currencies form the foundation of a robust and stable financial system. Unlike fiat currencies, which can be artificially created or destroyed, asset-backed currencies derive their value from tangible assets, such as gold or other commodities. This intrinsic value provides a solid basis for currency stability, reducing arbitrary inflation or deflation.

By keeping debt in check and eliminating the need for constant inflation, an asset-backed currency system ensures that purchasing power and value remain preserved. The erosion of currency value, which burdens savers and common workers in the current system, is mitigated, fostering economic fairness and stability.

Fair Trade: Furthermore, an asset-backed currency system operates on a level playing field globally. Cross-border trade and currency exchange rates are based on genuine value, promoting fair and transparent transactions. This equitable framework facilitates international commerce, allowing nations to engage in trade without the unfair advantages or disadvantages imposed by fiat currencies.

Fair Wages: One of the significant advantages of an asset-backed currency system is the equalization of living and working wages between nations. This addresses the issue of forced immigration and eliminates incentives for slave labor manufacturing. By aligning wages across borders, the system promotes a more just and sustainable global economy, reducing exploitation and inequality.

No Need for Central Banksters: Another compelling benefit of a Financial System Reset with asset-backed currency is the elimination of the need for central banks and their monetary policies, which often result in unethical wealth transfer. In this new system, the power of central banks is curtailed, as the stability and value of the currency are derived directly from tangible assets. This decentralization fosters a more democratic and accountable financial system, free from the manipulation and concentration of wealth often associated with central banking practices.

In conclusion, a Financial System Reset with the implementation of an asset-backed currency system, such as a Global Currency Reset (GCR), offers a compelling solution to the inherent flaws and self-destruct mechanism of our current fiat currency debt system. By introducing such a transformation, we can establish a financial framework that ensures stability, preserves purchasing power, promotes fairness in international trade, equalizes wages globally, and eliminates the unethical wealth transfer perpetuated by central banks.

Related Ai3D Articles

• The Fiat Currency Debt System is Heading Towards a Global Credit Market Freeze

• Widening Cracks: Continuing Signs of the Fiat Currency Debt System Collapse

• The Importance of the Gold Standard in Economic Freedom

https://ai3d.blog/the-connection-between-inflation-financial-collapse-and-our-gcr/

Goldilocks' Comments and Global Economic News for July 15, 2023

Goldilocks' Comments and Global Economic News for July 15, 2023

RJ:  Good morning Dinar Recaps,

Remittances due to US Treasury continue to hit bottom

As of July 13, earnings remittances due to the US Treasury hit another record low of -$77 billion.

Simply put, this indicator shows how much the Federal Reserve owes to the US Treasury.

When the Treasury is not receiving funds from the Fed they are forced to borrow money, this leads to higher interest rates, which in turn leads to higher borrowing costs in the private sector.

The result is less capital investment, subsequently reducing economic growth – something many banks are already anticipating as seen in their earnings reports.

Central Banks around the world no longer trust the dollar with its increasing debt issues as a World Reserve Asset.

This is forcing Central Banks to increase their holdings of a currency backed by gold such as the Chinese Yuan. Not to mention, Central Banks continue to increase gold holdings.

It is compounded by the threat of the US freezing assets in countries around the world.

China is on the cutting edge of digital asset-based trading, and they are piloting new projects everyday.

The world is in transition and the East is rising to challenge World Orders in the new technological age.

© Goldilocks

https://dailyhodl.com/2023/07/14/central-banks-warn-trillion-dollar-debt-hammering-us-dollar-reveal-plans-to-increase-chinese-yuan-holdings/

~~~~~~~~~~

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"Tidbits From TNT" Saturday 7-15-2023

TNT:

Tishwash:  Parliamentary Finance: Tomorrow you will witness the release of conservative allocations within the budget

A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, confirmed the launch of the governorates' allocations, tomorrow, Sunday.

 Al-Kazemi said, in a televised interview followed by Al-Maalouma, that "the allocations of ministries and provinces from the budget are scheduled to be released tomorrow, Sunday."

He added, "The budget is being implemented, with the exception of some materials for which the state order was issued, and it was frozen until the final decision is issued."

 Al-Kadhimi indicated that "the Parliament Presidency assigned the Parliamentary Legal Committee to cooperate with the Finance Committee to provide the necessary clarifications to the Federal Court regarding the state decision."  link

Tishwash:  Central Bank: Iraq's cash reserves exceeded 113 billion dollars

Today, Saturday, the Central Bank of Iraq indicated a group of opportunities and challenges facing the Iraqi economy, while announcing that the volume of internal debt had risen to about 70 trillion dinars, and the volume of foreign reserves to 113 billion dollars.

The Deputy Governor of the Central Bank, Ammar Khalaf, said in a speech during the Sixth Annual Conference on Finance and Banking Services, followed by / information / that "the Central Bank of Iraq has a fundamental role in financial and economic stability, as this year witnessed many and many changes to contribute towards achieving stability in Iraq." ".

Khalaf added, "There are many opportunities for the Iraqi economy, the central bank, all ministries, and the private sector, including the growth of gross domestic product, the achievement of a surplus in the general budget law affected by global oil prices, and an increase in the volume of deposits and credit in general, as well as the increase in foreign reserves to 113 billion dollars." ".

He pointed out that “despite these opportunities, there are challenges, including the approval of the budget law of a very large size, in which public expenditures reach 198 billion, as planned for this year, and also with a fiscal deficit amounting to 64 trillion dinars, and this in itself represents a challenge for the economy and the central bank.” Iraq in particular.

He pointed out that "there is another challenge, which is the increase in the domestic debt, which amounted to about 70 trillion dinars, and this represents a challenge to the monetary authority, as well as the financial authority in the mechanism of managing this debt, because it represents great pressure on the various monetary policy tools."

He continued: "In the previous edition of the Fifth Conference, we mentioned the importance of electronic payment and the important performance it represents to achieve economic growth, financial inclusion and financial depth, and we emphasized that there must be a compulsion to adopt its tools, as it was achieved this year through the great support of The current Iraqi government and the great efforts launched by the Central Bank of Iraq, and we have recently witnessed a great movement by the public as well as the private sector in adopting electronic payment tools, and this is a very important thing for achieving economic growth and financial affairs in Iraq.

And he added, "In this field, we notice an increase in electronic payment tools. For example, the number of different cards increased from 6 million cards to 16 million, as well as the number of payment devices from 918 devices to more than 10 thousand devices, as well as an increase in the number of electronic payment devices." Automated teller machines (ATMs) from 656 machines to more than 2000 machines, and they are constantly increasing. There is also an increase in the number of open and effective electronic wallets from 222 thousand wallets to more than 3 million wallets, and this represents a real transition for the sector.

He stressed that "the Central Bank of Iraq has sufficient flexibility in adopting appropriate monetary policies, as it worked this year on a number of changes in various monetary policy tools, for example, it raised the policy rate from 4-7.5%, as well as raising the interest rate on central bank tools." Iraqi from 3-4 until it reached 7.5%, as well as raising the legal reserve ratio from 15-18%," pointing out that "all these different tools seek to manage excess cash liquidity in addition to what the electronic platform is doing by achieving the surplus liquidity resulting from Increase public spending.   link

************

CandyKisses: The Central Bank Announces The Increase In The Volume Of Foreign Reserves And Iraq's Internal Debt

The Central Bank of Iraq pointed out on Saturday a set of opportunities and challenges for the Iraqi economy, while announcing the rise in the volume of internal debt to about 70 trillion dinars, and the volume of foreign reserves to 113 billion dollars.

The Deputy Governor of the Central Bank, Ammar Khalaf, said in a speech during the sixth annual conference of finance and banking services, attended by a correspondent of the Earth News Agency, that "the Central Bank of Iraq has a key role in financial and economic stability, as this year witnessed many and many changes to contribute towards achieving stability in Iraq."

Khalaf added that "there are many opportunities for the Iraqi economy, the Central Bank, all ministries and the private sector, including the growth of GDP, the achievement of a surplus in the general budget law affected by international oil prices, an increase in the volume of deposits and credit in general, as well as the rise in foreign reserves to $ 113 billion."

He pointed out that "despite these opportunities, there are challenges, including the adoption of the budget law in a very large size, in which public expenditures reach 198 billion, as planned this year, and also with a fiscal deficit of 64 trillion dinars, and this in itself represents a challenge to the economy and the Central Bank of Iraq in particular."

He pointed out that "there is another challenge is the rise in internal debt, which amounted to about 70 trillion dinars, and this represents a challenge for the monetary authority, as well as the financial mechanism in the mechanism of managing this debt because of the great pressure it represents on the various monetary policy tools."

He continued: "In the last edition of the Fifth Conference, we mentioned the importance of electronic payment and the important performance it represents to achieve economic growth, financial inclusion and financial depth, and we stressed that there must be a compulsion to adopt its tools, as it was achieved this year through the great support of the current Iraqi government and the great efforts launched by the Central Bank of Iraq, and we have recently witnessed a great movement by the public as well as private sectors in adopting electronic payment tools, and this is an important thing is very important to achieve economic growth and financial affairs in Iraq."

He added: "In this area, we notice an increase and an increase in electronic payment tools, for example, the number of different cards increased from 6 million cards to 16 million, as well as the increase in the number of payment machines from 918 to more than 10,656 machines, as well as the increase in the number of ATMs from 2000 to more than 222,3 devices, which is constantly increasing, there is also an increase in the number of open and effective electronic wallets from <>,<> wallets to more than <> million portfolios, and this represents a real transition for the sector."

He stressed that "the Central Bank of Iraq has sufficient flexibility in adopting appropriate monetary policies, as it has been working this year on a number of changes in various monetary policy tools, for example, it raised the policy rate from 4-7.5%, as well as raising the interest rate on the tools of the Central Bank of Iraq from 3-4 to 7.5%, as well as raising the legal reserve ratio from 15-18%," pointing out that "all these different tools seek to manage cash liquidity." In addition to what the electronic platform is doing by achieving excess liquidity resulting from the increase in public spending."

************

Tishwash:  Kurdistan's dealmaker in Britain talks about "big changes" taking place far from America's sight

 The American Forbes magazine reported an interview it conducted today, Friday, with what it described as "the deal maker of the Kurdistan region of Iraq," the High Representative of the Kurdistan government in Britain, Karawan Jamal Taher, stressing, quoting him, that the "region's alliances" are changing as a result of the "absence of the American role." 

And the Kurdish official stated, according to the interview that I translated (Baghdad Today), that "the times we live in today are very interesting. 

He continued, "This is not the Middle East that was in the days of our fathers. China made a deal between Iran and Saudi Arabia. Russia invaded Ukraine and Azerbaijan defeated Armenia in another regional conflict, amid a very clear absence of the continuously diminishing American role in the region," stressing that "Kurdistan has a lot to offer." provide it to Western governments. 

The Kurdish official's statements come hours after an interview he had with British diplomats in London, during which he stressed the importance of the "partnership" between the United Kingdom and the Iraqi Kurdistan government without revealing details of what took place during the meeting, which the magazine said was held inside the private travelers' club in the British capital.  

The magazine indicated that the Kurdish official's statements show a desire of the Iraqi Kurdistan government to replace the American partnership with another with the British government, given the diminishing interest of the United States in the Middle East region, and its focus on the current conflict in Europe. link

Mot:  .. the ""Mom Test"" – siigghhhhhh

Mot:  ... a Mums Delima!! --

Iraqi News Highlights Saturday Morning 7-15-23

Iraqi News Highlights Saturday Morning 7-15-23

Tlm724 Administrator Bondlady’s Corner

An Economist Identifies Measures To End The Differences Between The Official And Parallel Dollar Price

    July 12 8:40 am Information / Baghdad...The researcher in economic affairs, Muhammad Al-Saadi, explained, on Wednesday, that there are some measures through which the government can eliminate the differences between the official and parallel dollar exchange rate.  Al-Saadi told Al-Maalooma, "The control of the border crossings over exports and imports, and obliging all merchants to enter the electronic platform, will greatly reduce the demand for dollars in the parallel market."

 He added that "the central bank's tendency to increase the dollar sold by it to merchants in general and citizens by a specific percentage and according to need, will make the parallel market less demand for foreign currency."  And that "the government, if it is able to increase the amount of dollars received from the Federal Bank,

it can increase the pumping of this currency to the markets and reduce the parallel price, as well as the possibility of increasing the opening of windows for selling the currency in all regions and governorates, and thus competing with the parallel market for the emergency demand for the currency." ended 25 n

 https://almaalomah.me/news/economy/اقتصادي-يحدد-الإجراءات-الكفيلة-بإنهاء-الفوارق-بين-سعر-الدولا

Al-Kazemi.. Banks Linked To Politicians Are Implementing Plans To Smuggle Dollars

July 13, 2023 Last updated: July 13, 2023 The Independent/- The security and economic authorities in Iraq have seized hidden plans being implemented by private banks linked to senior politicians Through which foreign currencies are smuggled out of Iraq, and the value of the Iraqi dinar is weakened.

The government agencies did not specify the smuggling destinations, but said that they are heading to neighboring countries, in reference to Iran Syria and Lebanon.

A member of the Parliamentary Finance Committee in the Iraqi parliament, Moeen Al-Kazemi, said that

the central bank system when it allowed a transfer Funds through (Master Card) for travelers There was support for this step that would serve the traveler,

But it has been circumvented by collecting hundreds of cards or issuing them illegally before Some private banks,

then the currency difference in other countries is benefited by one person who travels And with him hundreds of cards, so the government and the central bank paid attention to this fraudulent process.

And a source in the central bank said that hundreds of millions of dollars were sold in the currency auction and most of this money Transferred outside Iraq under the cover of supplying consumables,

except that all the invoices that prove the exchange That money on importing basic materials for the Iraqi market was forged, and there are parties that are professionally falsifying these invoices with support of senior politicians.

The Iraqi economist, Dr. Majid Al-Suri, described what is happening in Iraq as a kind of economic chaos The country has suffered from it during the last three decades and it is still rooted after the occupation in 2003 through :

Wide open border crossings,  absence of a clear economic policy,  confusion in fiscal policy, and expansion of expenditures Operationalism,  lack of interest in economic and social development,

while encouraging the unfettered free market economy policy and  not implementing the constitution And the laws in force,

all of this, has made Iraq a great hotbed of administrative and financial corruption, speculation and unregulated behaviour. In economic operations in general and commercial operations in particular.

The Association of Iraqi Banks estimates that more than 300 billion dollars have been smuggled out of Iraq since 2003 Through fake deals,

smuggling huge sums of $100 through land and airports, confirmed Planes left Iraqi airspace loaded with foreign currencies without the security and oversight authorities being able to turn it off.

Quoted from Akhbar Al-Khaleej Bahrain newspaper https://mustaqila.com/الكاظمي-مصارف-مرتبطة-بسياسيين-تنفذ-خط/

The Central Bank Reveals The Decline In The Refusal Of Iraqi Trade Transfers From The US Federal Reserve

July 13, 2023 Last updated: July 13, 2023 The Independent/- The Central Bank of Iraq revealed that the rejection of Iraqi trade transfers from the US Federal Reserve via the electronic platform has declined to 8 percent, while attributing the reason for the rise in the dollar in parallel markets to the large volume of trade with Iran, Turkey and Syria and the restrictions imposed on those countries by the Americans.

The general manager of investments in the bank, Mazen Sabah Ahmed, said:

“The refusal of Iraqi transfers by the US Federal Reserve through the electronic platform decreased from 80 percent to 8 percent, noting that “the platform system aims to adopt global transfer standards that limit inaccurate paths of money.”.

This came on the sidelines of an economic symposium organized by the Financial and Accounting Training Center at the Ministry of Finance, in cooperation with the House of Wisdom for Training and Consulting, titled “The electronic platform for financing foreign trade and the gap between the official and parallel Iraqi dinar exchange rate.”

 He added to “Al-Sabah” that “the currently approved platform is a product of an agreement.” With the US Federal Reserve, the mechanisms of dealing in dollars are taken into account, as

the demand for the auction began to be through an electronic system that takes into account all the important details that the transfer includes, such as the investment of funds, the two parties to the process, the importer and the exporter, and are there penalties for the issuing party.

Ahmed pointed out that “the platform adopts robust mechanisms through which funds cannot be passed to an incorrect party,” revealing that “the adoption of a specialized international company works to audit all transfers without exception.” 

He explained that “the mechanisms for establishing the banking system after 2003 were not at the required level and were characterized by weakness and their inability to finance foreign trade.” And then to its destination, and this matter was covered by major international media, which negatively affected the reputation of the Iraqi financial sector.

The Director General of Investments in the bank pointed out to "the importance of Iraqi banks working to develop the reality of their performance and working to raise their capital to levels that make international banks ready to be their correspondents."

Regarding the gap between the official and parallel exchange rate, Ahmed said:

“The Central Bank of Iraq does not have a problem with the supply of the dollar, but the problem is with the demand, aswe have a large volume of trade with countries that have restrictions regarding the dollar, including the Islamic Republic of Iran, with which the country touches 10 trade.”

Billions of dollars and Turkey, with which our trade ranges between 10-12 billion dollars, as well as Syria, with which we have a volume of trade that requires dollar sums, which raises the demand for dollars in the parallel market, due to the need for dollars to pay the dues of this trade, especially since the dollar cannot be granted to anyone A country prohibited from dealing in dollars. 

He pointed out that “the Central Bank tended to provide the dollar for every person in need, but we noticed an incorrect use by the beneficiaries, and these directions were reconsidered.”

Ahmed urged to “go towards electronic payment and benefit from payment cards that each have characteristics that can provide the dollar at the official price, as cards can be issued through applications downloaded to the mobile phone and through which virtual cards of up to 50 cards are issued that are used to complete the needs of the beneficiary at the price.” official approved by the Central.

Hisham Khaled, in his role specialized in economic affairs, told Al-Sabah newspaper, his independent follow-up, that “the Iraqi banking system has major tasks ahead of it represented in providing credit to the local labor market that requires local and international financial transactions, and from here the banking system must realize that the process of developing performance and adopting advanced technology is more important.”

The next steps, in addition to expanding the capital of banks.  He pointed out that “the Iraqi citizen needs to expand his understanding of the reality of electronic payment and its importance and a serious shift to electronic transactions.

The parallel market, as this matter represents the talk of the Iraqi street.”

 He stressed "the importance of the banking system's future plans to include a detailed dissemination of the culture of electronic payment in cooperation with various media outlets and in coordination with the concerned authorities, and to benefit from the virtual cards provided by the Central Bank of Iraq."

https://mustaqila.com/المركزي-يكشف-عن-تراجع-رفض-حوالات-التجا/

Revealing The Most Famous Methods Of Smuggling Dollars And Accusing "Whales" In The Government

 sweeteners | Yesterday, Baghdad today – Diyala Today, Friday, the Chamber of Commerce in Diyala identified the most famous ways to smuggle dollars outside Iraq, while noting that "whales of corruption in the body" of the government are benefiting from the parallel market to sell foreign currency.

The head of the chambers of commerce, Muhammad al-Tamimi, told "Baghdad Today" that "dollar smuggling has receded, but it has not ended and is still the most important factor in reviving the parallel market for the currency at home." 

He added, "The most famous methods of smuggling the dollar is the exploitation of some banking companies holding simple citizens' documents to transfer money in large sums monthly," pointing out that "there are some loopholes that allow those companies to escape punishment and pay the price for any violations.

They are the simple people who do not know that their official papers are being manipulated in financial abuses.  Al-Tamimi indicated that

"whales in the body of the government benefit in various forms from the parallel market for selling dollars in Iraq, especially since speculation achieves huge profits from time to time."

Earlier, Prime Minister Muhammad Shia al-Sudani said that millions of dollars are smuggled out of the country on a daily basis with forged bills, stressing that the matter was discovered after everyone was obligated to make transfers via the electronic SWIFT platform that allows the US Central Bank to monitor.

https://baghdadtoday.news/226121-الكشف-عن-أشهر-طرق-تهريب-الدولار-والاتهام-لـحيتان-في-الحكومة.html

 The Governor Of The Central Bank Of Iraq Receives A Delegation From The International Finance Corporation (IFC)

July 14, 2023   His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation (IFC) of the World Bank Group.

During the meeting, they discussed aspects of bilateral cooperation in the field of the banking sector and its development in line with global technologies, as well as presenting the latest developments regarding the strategic projects implemented by the Central Bank in cooperation with the International Finance Corporation (IFC).

The two parties discussed the sustainable financing project, which is a key factor in achieving the goals of sustainable development through offering banking products and services and developing banking operations in a manner that takes into account the elements of environment, society and governance (ESG), and financing, lending and investment activities, to achieve sustainable benefit for all concerned parties.

It is noteworthy that Iraq is the second Arab country to establish this project, while the Central Bank was praised by the International Finance Corporation for its fruitful efforts in making a significant impact on the Iraqi banking sector to contribute to preserving the environment and supporting sustainable growth and societal safety.

 His Excellency the Governor reviewed an initiative to establish a green bank that the Central Bank is working on implementing, while the delegation expressed their willingness to cooperate in the field of exchanging experiences and training to help establish this bank in line with the efforts of the Corporation and the Central Bank in supporting the private sector and medium and small projects,

pointing to the openness of the Central Bank to all International financial and banking institutions in supporting the Iraqi monetary policy.  

Central Bank of Iraq   information Office   14 – July – 2023  https://cbi.iq/news/view/2377

Turning To “State Governance” Is The Gateway To Combating Corruption

The first 2023/07/15    Baghdad: Huda Al-Azzawi A number of specialists in the political field saw that one of the most important ways to correct the tortuous path in the anti-corruption file is; Work on reproducing the successful experiences of developed countries by shifting to "state governance", and making all governmental and private departments and official institutions pass through the tax authority gate, as well as restoring the work of the offices of general inspectors and repairing them if they are exposed to violations, noting that the government's work in combating corruption seemed clear

He indicates optimism that Iraq has progressed two degrees to rank 23 in the Corruption Perceptions Index, and that it ranks 157 out of 190 countries in this regard.

Omar Al-Nasser, the policy-making official in the Bidaya movement, said in an interview with Al-Sabah:

"It is not possible to go to eliminate corruption completely, because the world's greatest, most advanced and transparent countries have varying rates in this joint, and suffer from fluctuations in its pace in most cases."

Institutions,” noting that “the shift to state governance and making all government and private departments and official institutions pass through the Tax Authority’s gate is a process of reproducing the experiences of developed countries such as (Sweden, Denmark, Germany, Britain, Austria, Switzerland, and others).” 

Al-Nasser called for the reinstatement of "the offices of the inspectors general and their reform if they were exposed to violations or delay, which is a healthy case for building an oversight arsenal that supports the performance of the House of Representatives in re-reviewing and evaluating towards correcting the tortuous course in the anti-corruption file."

 He noted that "today, the Corruption Perceptions Index (CPI) must be taken into account, which placed Iraq in the rank of 157 out of 190 countries in this regard, and its progression by two degrees to rank 23 is a step forward for optimism, because this, in turn, will achieve qualitative leaps in several fields."

https://alsabaah.iq/80663-.html

The Ukrainian War Boosts The Growth Of The "Currency Basket" In Iraq By 10%

   Tammuz 13 18:34 Information / Diyala ..The Chambers of Commerce confirmed, on Thursday, that the Ukrainian war boosted the growth of the currency basket in Iraq by 10%.

The head of the Chambers of Commerce in Diyala, Muhammad al-Tamimi, said in an interview with Al-Maalouma, that "the US dollar was important to the foreign trade sector in Iraq by 99%, with more than 100 countries being contacted for import in various fields." 

He added, "The Ukrainian war, the results of the sanctions, and the use of the dollar as a means of pressure by Washington gave an important reaction in that the dollar is an unsafe currency, so Iraqi merchants began relying on a variety of foreign currencies to pay the costs, whether from China or others." 

He pointed out that "the basket of diversified currencies for any merchants began to rise to 10%, and it is constantly on the rise, especially since obtaining currencies is not difficult compared to the dollar and its challenges."

And many countries began to gradually abandon the US dollar in their foreign trade and use other currencies, including the Chinese yuan. 25 p.m. ended

https://almaalomah.me/news/economy/الحرب-الاوكرانية-تعزز-نمو-سلة-العملات-في-العراق-بنسبة-10

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Awake-In-3D: ENDGAME (Part 1) – United States Plunging Headlong into Financial Debt Disaster

Awake-In-3D

ENDGAME (Part 1) – United States Plunging Headlong into Financial Debt Disaster

On July 14, 2023 By Awake-In-3D

In  Fiat Debt System Collapse Articles

The United States is hurtling towards a catastrophic financial debt disaster, as shocking evidence reveals a deepening crisis. With soaring interest rates, record-breaking interest payments, and the potential for debt servicing costs to surpass major government expenditures, the nation stands on the brink of a geo-economic collapse.

Treasury Secretary Janet Yellen’s dismissal of concerns only adds fuel to the fire as the endgame fast approaches. Is America now facing a global downfall of its own making?

What You Will Learn Here in Part 1

• Government outlays in the United States have surged by 15% in June alone, reaching $646 billion.

• Tax receipts have plummeted by 9.2%, resulting in a 7.3% drop in government receipts year-to-date.

• The US budget deficit nearly tripled in June, reaching $228 billion compared to the previous year.

• The cumulative deficit for the first nine months of the fiscal year stands at $1.393 trillion, the third highest on record.

• The escalating debt burden threatens the stability of the US economy and its global standing.

• Higher deficits increase reliance on borrowing and lead to rising interest payments, straining the federal budget.

In the latest monthly US Budget Deficit report, alarming figures reveal a deepening financial crisis for the United States. Government outlays surged by 15% to $646 billion in June, a staggering increase of almost $100 billion from the previous year. Meanwhile, tax receipts have plummeted by 9.2% from $461 billion to $418 billion, marking the largest drop in tax revenues without entering a recession. This article delves into the dire consequences of these developments, shedding light on the imminent financial debt disaster that the United States faces.

Surging Government Outlays and Shrinking Tax Revenues

Government outlays have experienced an unprecedented surge, rising by 15% in June alone. Tax receipts have suffered a substantial decline of 9.2%, resulting in a 7.3% drop in government receipts year-to-date, the largest since the June 2020 recession. The substantial increase in government spending coupled with diminishing tax revenues has contributed to the ballooning budget deficit.

The Budget Deficit has Tripled vs. Official Estimates

In June, the US budget deficit nearly tripled from $89 billion to $228 billion compared to the previous year. This significant deficit surpasses the consensus estimate of $175 billion, indicating a deepening financial crisis. The unexpected incremental $50 billion deficit raises questions about the allocation of funds and potential money laundering activities.

Cumulative Deficit is Third Highest on Record

The cumulative deficit for the first nine months of the fiscal year is already the third highest on record. Surpassed only by the government pandemic shutdown crisis of 2020 and 2021, the fiscal 2022 year-to-date deficit stands at $1.393 trillion, marking a 170% increase compared to the same period last year. These alarming figures highlight the urgency of addressing the growing debt burden – a return to gold-backed money and a Global Currency Reset (GCR).

From Financial Debt Disaster to Our GCR

The escalating debt burden threatens the stability of the US economy and its global standing. Higher deficits increase the reliance on borrowing, leading to rising interest payments that strain the federal budget. The United States is seriously facing insolvency and potential crash of the US Dollar – not to mention a total collapse of the global fiat debt currency system.

The United States finds itself rapidly approaching a financial debt disaster as surging government outlays and shrinking tax revenues contribute to a widening budget deficit. With the cumulative deficit already ranking as the third highest on record, how much longer can the current financial system survive without Our GCR?

[To be continued in Endgame Part 2]

Related Ai3D Articles:

• After 51 Years the Global Fiat Currency System is Due for a Grand Reset

• Commercial Real Estate: A Likely Trigger for Fiat Financial System, then US Dollar Collapse

• Debt Jubilees: A Last Resort Before The Global Financial Collapse

Ai3D Website: Ai3D.blog
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https://ai3d.blog/endgame-part-1-united-states-plunging-headlong-into-financial-debt-disaster/

Awake-In-3D: North Carolina Votes for Gold – Sound Money Movement Continues

Awake-In-3D: 

North Carolina Votes for Gold – Sound Money Movement Continues

On July 14, 2023 By Awake-In-3D

In  RV/GCR Articles

North Carolina is the latest U.S. State to take up the charge towards sound monetary independence. As all of us in RV/GCR Land watch and wait for the logical conclusion of the Global Fiat Financial System, individual U.S. States continue on the path towards their own Gold Monetary Standards. Do the State’s fiscal and legislative governments know something that the Federal Reserve and US Treasury continues to ignore?

With the recent vote in favor of studying an in-state bullion depository, the state is joining a growing movement among US states seeking protection from the volatile federal fiat US dollar. As states like Texas, Ohio, and Tennessee have already taken steps to secure their economies with gold, it’s time to ask: is it time for North Carolina to take control of its financial destiny? Find out why the push for state gold standards is gaining momentum and what it could mean for the future of the USA economy.

What You Will Learn from this Article:

• The recent vote in favor of studying an in-state bullion depository in North Carolina.

• The growing movement among US states towards establishing independent gold standards as protection from the federal fiat US dollar.

• How states like Texas, Ohio, and Tennessee have already taken steps to secure their economies with gold.

• The reasons why diversifying investment portfolios with precious metals like gold and silver can safeguard against inflation, debt defaults, and stock market volatility.

• The potential benefits of establishing a gold bullion depository for North Carolina and other states.

• The introduction of bills in multiple states to restore the use of gold and silver as legal tender.

• The significance of financial independence and the potential consequences of relying solely on the federal fiat US dollar.

• The next steps for North Carolina’s proposed legislation and its potential impact on the state’s financial future.

• The broader implications of the state gold standards movement and its impact on the US economy.

In a definitive move towards financial independence, the North Carolina House of Representatives has voted in favor of studying the establishment of an in-state bullion depository. This decision is part of a larger trend among several US states, including Texas, Ohio, Missouri, Mississippi, and Oklahoma, to protect themselves from the uncertainties of the federal fiat US dollar by establishing independent gold standards. With Tennessee already signing a law allowing the purchase and storage of physical gold and silver, it is clear that states are recognizing the importance of diversifying their investment portfolios and safeguarding against inflation, debt defaults, and stock market downturns.

The Need for Financial Security

Like many other states, North Carolina’s reserve funds are heavily exposed to low-yielding debt paper, such as corporate bonds, municipal bonds, CDs, treasuries, and money market funds. While these instruments may appear stable, they carry risks such as inflation and the erosion of real value over time, compounded by negative real interest rates. Recognizing the need to protect against these risks, North Carolina has prioritized exploring the benefits of establishing a gold bullion depository.

The Power of Gold and Silver

By including an allocation to physical gold and silver in their investment portfolios, responsible states can enhance their ability to weather financial uncertainties. Precious metals have historically served as a safeguard against inflation, debt defaults, and stock market volatility. Not only do they provide a hedge against these risks, but they have also shown to enhance investment returns while reducing overall volatility. With the potential for economic uncertainty on the horizon, it is prudent for states like North Carolina to consider the advantages of incorporating gold and silver into their financial strategies.

A Growing Movement

North Carolina is not alone in its pursuit of sound and constitutional money. This year, several other states, including Alaska, Iowa, West Virginia, South Carolina, Maine, Missouri, Minnesota, Tennessee, Montana, Idaho, Wyoming, and Kansas, have introduced bills to restore the use of gold and silver as legal tender. This movement reflects a growing recognition among states that relying solely on the federal fiat US dollar may not provide the necessary protection against financial risks.

Next Steps for North Carolina

House Bill 721, introduced by Rep. Mark Brody, has already received favorable support in the North Carolina House of Representatives. The bill, which calls for a study into establishing an in-state bullion depository, was approved by a vote of 73-40. It will now undergo a hearing before the Senate Rules and Operations committee. If successful, North Carolina will join the ranks of states taking proactive measures to secure their financial future.

What It Means

As states like North Carolina seek greater financial independence, the establishment of independent gold standards through in-state bullion depositories has emerged as a compelling solution. By diversifying their investment portfolios with precious metals, states can protect against inflation, debt defaults, and stock market volatility. The growing movement for state gold standards, exemplified by North Carolina and other states, highlights the increasing recognition that relying solely on the federal fiat US dollar may not be the most prudent approach. It is time for states to take control of their financial destiny and prioritize the exploration of gold and silver as a means of safeguarding their economies.

Related Posts

• The Importance of the Gold Standard in Economic Freedom

• Texas Takes the Lead: A Golden Future for Sovereign Digital Currency

• Florida, Indiana Ban CBDCs: Gold As Money A State’s Right

Click here learn more about every U.S. States’ legislative activities involving gold and silver as legal tender: Sound Money Defense League

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https://ai3d.blog/north-carolina-votes-for-gold-sound-money-movement-continues/

Some "Iraq News" Posted by Clare at KTFA Friday 7-14-2023

KTFA: 

Clare:  Al-Amiri calls for a unified position for "Iraqi independence": An employee of the US Treasury controls us

7/13/2023

The head of Al-Fateh Alliance, Hadi Al-Amiri called, on Thursday, for a unified stance towards the US treasury measures.

Al-Amiri said in a speech at a memorial service, followed by Shafaq News Agency; That "it is shameful for us to be controlled by an employee of the US Treasury."

"I call on the political forces to take a unified stand for Iraq's independence," he added.   LINK

Clare:  More than 3,000 security personnel are deployed in the vicinity of the US Embassy in Baghdad, in anticipation of a demonstration by factions

7/14/2023

An official security source said, on Friday, that members of the security forces have deployed in the vicinity of the US embassy in the fortified Green Zone in the center of the Iraqi capital, Baghdad.

The source told Shafaq News agency that more than 3,000 security personnel arrived at the US embassy, ​​in anticipation of a demonstration by some Shiite factions, in protest against an American report published by "Middle East" newspaper, in which it said: America is planning to target some leaders of Shiite armed factions in Iraq.

It is noteworthy that supporters of the Iraqi Shiite factions affiliated with the Popular Mobilization Forces stormed, at the end of 2019, the outer wall of the fortified US embassy headquarters in Baghdad's Green Zone for the first time since its construction after the overthrow of Saddam Hussein's regime in the spring of 2003.

The raid took place in protest against the American air strikes that targeted the sites of the Iraqi Hezbollah Brigades, which resulted in the death and injury of dozens of fighters.   LINK

** **********

Clare:  A large security deployment in the Green Zone, and the factions are preparing to demonstrate against the American embassy    LINK

************

Clare:  CLOSURE OF THE GREEN ZONE AFTER CALLS TO STORM THE US EMBASSY

Friday, July 14, 2023   Baghdad 

Today, Friday, the Iraqi security forces closed all the gates of the Green Zone in central Baghdad.
 
The correspondent of the National News Center reported that, “The security forces’ closure of the gates of the Green Zone with cement blocks came after calls launched by the Al-Nujaba Movement to storm the US embassy in the Iraqi capital.
 
This call comes after US President Joe Biden threatened to “eliminate” the Movement’s Secretary-General, Akram Al-Kaabi.   LINK

************

Clare:  Supporters of Iraqi Shiite factions demonstrate in protest against America's "interventions" and its "threat to liquidate their leaders"

7/14/2023

A demonstration was launched in the capital, Baghdad, on Friday, by supporters of Shiite factions, to protest against the "interferences" of the United States in Iraqi affairs and its "threat to liquidate their leaders."

Shafaq News agency reporter said that hundreds of supporters of the Shiite factions gathered at the gate of the Green Zone from the side of the suspension bridge, in protest against what they said were "the interventions of the US ambassador to Baghdad in Iraqi affairs."

The demonstrators chanted, "God is great, God is great, America is the great Satan."

Earlier today, Friday, a security source told Shafaq News agency that more than 3,000 security personnel had arrived at the US embassy, ​​in anticipation of a demonstration by some Shiite factions, in protest against an American report published by "Middle East" newspaper, in which it said: America is planning to target some Leaders of the Shiite armed factions in Iraq.

It is noteworthy that supporters of the Iraqi Shiite factions affiliated with the Popular Mobilization Forces stormed, at the end of 2019, the outer wall of the fortified US embassy headquarters in Baghdad's Green Zone for the first time since its construction after the overthrow of Saddam Hussein's regime in the spring of 2003.

The raid took place in protest against the American air strikes that targeted the sites of the Iraqi Hezbollah Brigades, which resulted in the death and injury of dozens of fighters.   LINK

************

Angry demonstrations in front of the US embassy in Baghdad 

The head of the Al-Fateh Alliance, Hadi al-Amiri, announced on Thursday that the Iraqis must take a unified position for "their economic independence, after the security and political stability that Iraq is currently witnessing."

And he indicated, during a speech in his eulogy for one of the leaders of the Popular Mobilization Forces, that "it is unreasonable for an employee of the American treasury to control Iraq's funds."

It is noteworthy that the number of US forces present in Iraq is estimated at 2,500, and they are deployed in separate places, especially in some military facilities in Baghdad and the north of the country, according to the American "BBS" network.

Baghdad and Washington had agreed on the withdrawal of all US combat forces from Iraq by December 31, 2021, and that the security relationship between the two countries would completely move "to advice, training and intelligence cooperation."

Later, the Coordinating Committee for the Iraqi Resistance said, "The American forces are not serious about implementing the demand of the Iraqi people, which is related to the implementation of Parliament's decision to leave Iraq."

And she emphasized that "what you observe indicates the United States' insistence on keeping its occupying forces in the same bases," stressing that "the American dream of the occupation soldiers enjoying peace, and its rules of peace, will never be realized."  link

Clare:  The Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation (IFC)

July 14, 2023

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation (IFC) of the World Bank Group.

During the meeting, they discussed aspects of bilateral cooperation in the field of the banking sector and its development in line with global technologies, as well as presenting the latest developments regarding the strategic projects implemented by the Central Bank in cooperation with the International Finance Corporation (IFC).

The two parties discussed the sustainable financing project, which is a key factor in achieving the goals of sustainable development through offering banking products and services and developing banking operations in a manner that takes into account the elements of environment, society and governance (ESG), and financing, lending and investment activities, to achieve sustainable benefit for all concerned parties.

It is noteworthy that Iraq is the second Arab country to establish this project, while the Central Bank was praised by the International Finance Corporation for its fruitful efforts in making a significant impact on the Iraqi banking sector to contribute to preserving the environment and supporting sustainable growth and societal safety. 

His Excellency the Governor reviewed an initiative to establish a green bank that the Central Bank is working on implementing, while the delegation expressed their willingness to cooperate in the field of exchanging experiences and training to help establish this bank in line with the efforts of the Corporation and the Central Bank in supporting the private sector and medium and small projects, pointing to the openness of the Central Bank to all International financial and banking institutions in supporting Iraqi monetary policy. 

The Central Bank of Iraq,
Media Office, 
July 14, 2023   LINK

Goldilocks Update "Time Will Tell" Friday 7-14-2023

Goldilocks and Seeds of Wisdom

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and global economic and financial news links this morning:

From yesterday's news:

JUST IN: Ripple $XRP trading now live on Coinbase.

@WatcherGuru

Yesterday's ruling on the Ripple case allows for crypto regulation and clarity to move ahead.

Ripple is a digital asset whose use case scenarios touch so many levels of the banking payment system. Crypto clarity and regulation could not move forward without it.

This court decision on Ripple now updates the Lummis-Gillibrand bill, and it is giving new momentum for crypto legislation to become possible.

© Goldilocks

https://www.axios.com/2023/07/13/senators-lummis-gillibrand-crypto-bill

~~~~~~~~~~

Asset tokenization allows for fractional ownership and makes traditionally illiquid assets more accessible to smaller investors.

By making the trading of digital tokens efficient and transparent, it also increases liquidity.

Asset tokenization uses blockchain technology to streamline procedures, eliminate middlemen, and cut transaction expenses.

Asset tokenization can democratize investing opportunities by enabling people worldwide to hold assets.

https://www.ccn.com/education/asset-tokenization-opening-illiquid-assets-to-investors/

~~~~~~~~~~

We were told earlier this month by Jerome Powell that our new monetary policies would be done by the 15th.

It just may be that our crypto clarification could serve the purpose of new monetary policies for our digital economy.

For this reason, I am looking for our crypto clarity protocols to come by tomorrow or over the weekend.

Time will tell.

© Goldilocks

~~~~~~~~~~

"The September Summit  in New Delhi, the G20, which is made up of industrialized and major emerging economies will be presided over by Prime Minister Narendra Modi."

The purpose of the G20 group is to work on Global Financial issues such as:

* International Financial Stability

* Climate change mitigation

* Sustainable Development

The G20 group governs our Global Economies and forms global policies to create infrastructures in countries enabling sustainable growth.

This G20 Summit meeting is set to happen this September. The main focus of the meeting will be to discuss the movement forward of the new Global Digital Economy.

© Goldilocks

https://www.thestatesman.com/world/delhi-g20-summit-an-opportunity-to-start-reform-of-global-financial-system-guterres-1503199880.html

~~~~~~~~~~

A message from Salty Toes posted by Goldilocks:

Those calling the RV almost daily have no understanding of what is truly going on behind the scenes.

The technical aspects of it all eludes the gurus that tell you simple ideas about the budget, Iraq news, and banker stories.  It is so much larger.

Think...
How do you get paid?
What is the process?
What needs to be stood up?
What yet needs to be completed?

Read More https://t.me/+CuARN1065OwwNDEx

~~~~~~~~~~

The White House

Ordering the Selected Reserve and Certain Members of the Individual Ready Reserve of the Armed Forces to Active Duty

https://www.whitehouse.gov/briefing-room/presidential-actions/2023/07/13/ordering-the-selected-reserve-and-certain-members-of-the-individual-ready-reserve-of-the-armed-forces-to-active-duty/

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Q & A Room

https://t.me/+gqQYBsK0ZCpkMDg5

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Friday Morning Iraq Economic News Highlights 7-14-23

Friday Morning Iraq Economic News Highlights 7-14-23

A Legal Clarification Of The Extent To Which The Budget Can Be Applied After The Decision To Suspend Some Of Its Articles

Information/Baghdad..   Today, Friday, legal expert Ali Al-Tamimi explained the possibility of applying the tripartite federal budget after the Federal Court's decision to stop the implementation of some of its articles.  Al-Tamimi told Al-Maalouma, that "the Federal Court issued its decision regarding stopping the implementation of some budget articles, as it suspended 6 articles until the final decision is issued regarding them, and it received the request for the state order for other materials out of the total of 12 articles.”

He added that "the six articles that were suspended by the Federal Court are no longer applicable, while Article 78 of the Constitution stipulates the implementation of the budget from the date of voting on it, and therefore the budget will be implemented except for the articles." that were suspended by the court.

And the legal expert stated: "It is expected that the court's decision regarding the 12 articles that were challenged will be issued within a month," pointing out that "the internal system of the Federal Court, especially Article 22, has determined the three presidencies , the ministries that are not organized in a region, the independent bodies, and the prime minister of the Kurdistan region that can challenge the budget within 30 days of its publication in the Official Gazette, however, the issuance of the state order to suspend the Implementation of some articles is not related to time ended 25 n   LINK

With A Mathematical Process And In Numbers.. An Expert Reveals The Economic Feasibility Of Bartering Between Iraq And Iran

economy |Baghdad today – Baghdad  Today, Friday, economic expert Nabil Al-Marsoumi revealed the economic feasibility of bartering between Iranian gas and Iraqi oil.

Al-Marsoumi said in a post he posted on Facebook, followed by “Baghdad Today”, that “bartering, or rather set-off, is usually between two parties, one of whom has a surplus of a commodity and the other suffers from a deficit, but Iran does not suffer from a deficit in the production of crude oil and black oil, but rather from restrictions America is dependent on its oil exports, and therefore it does not need Iraqi crude oil."

He explained that "Iraq's production of black oil in 2021 amounts to 335,000 barrels per day, rising in Iran to 384,000 barrels per day, while the demand for black oil in Iraq is 189,000 barrels per day, compared to 255,000 barrels per day in Iran, and therefore Iran has a surplus of oil." The black oil is 49,000 barrels per day, and therefore it does not need Iraqi black oil."

Al-Marsoumi continued, "Iraq, especially when it sells crude oil and black oil at international prices, as stated in the agreement, will be the biggest winner because it will be able to export its surplus oil production from the Kurdistan fields and the surplus of black oil to pay the Iranian gas import bill, while Iran will not be able to use crude oil and oil."

The lions are in domestic consumption because it is self-sufficient in them," noting that Iran "cannot re-export them because of the US sanctions on it, which raises doubts about the practical application of this spending between Iraq and Iran."

Earlier, the Iraqi Prime Minister, Muhammad Shia al-Sudani, announced that Iran would be bartering black oil in exchange for gas imported from it.  LINK

To Confront US Sanctions... How Do The Iranians View The Iraqi Oil-Gas Barter?

Posted On2023-07-14 By Sotaliraq  Tehran and Baghdad reached an agreement to barter Iranian gas for Iraqi black oil, to ensure the operation of Iraqi electricity production plants (Shutterstock)

Rasoul Al Hay   7/13/2023  Tehran- After marathon negotiations that lasted for several days, technical committees from Tehran and Baghdad reached an agreement to barter Iraqi black oil With Iranian gas, to ensure the operation of Iraqi electricity production plants on the one hand, and to confront the problem of US sanctions on Iran on the other hand.

A few days after Tehran reduced gas supplies to Baghdad due to its delay in paying the debts accumulated on it, Ihsan Yassin Al-Awadi, Director of the Office of the Iraqi Prime Minister, and the Iranian Ambassador to Baghdad, Muhammad Kazem Al Sadiq, signed the agreement to avoid financing problems due to the US sanctions imposed on Iran. .

Meanwhile, Iraqi Prime Minister Muhammad Shia al-Sudani announced - on Tuesday - that the barter agreement came "to end the problem of American approval of payments to Tehran," explaining - in a televised speech - that the US Treasury's measures obstructed the 2018 agreement, which includes a mechanism for providing humanitarian and food materials. To the Iranian side in exchange for the price of gas.

Tehran and Baghdad reached an agreement to barter Iranian gas for Iraqi black oil, to ensure the operation of Iraqi electricity production plants (Shutterstock)   Rasoul Al Hay

Payment of all Iranian dues

Al-Sudani stressed that Baghdad had paid all its dues for Iranian gas amounting to 11 billion dollars, and deposited it in the account of Iranian companies, while the spokesman for the Iraqi Ministry of Electricity, Ahmed Musa, explained that the barter agreement secures Iran's access to gas dues by exchanging it for black oil.

This comes about a month after Washington agreed to Baghdad's request to release $3 billion in financial dues to Iran for its gas and electricity exports to Iraq. However, the barter agreement shows the blowing up of the previous agreement between the two countries in order for Tehran to import food and medicine through its released funds.

Iranian observers believe that the agreement helps the Iraqi side to overcome the current electricity crisis, but it does not benefit the Iranian economy, which is besieged by US sanctions.

Criticism and pessimism

In the context, the economist Bahman Arman finds it very difficult to implement the agreement in its entirety, because the process of laying pipelines between the two countries is useless, and transporting very large quantities of Iraqi oil by truck to Iran will take a long time.

Speaking to Al-Jazeera Net, Arman recalls the threat of Iranian oil shipments to be arrested on the high seas due to US sanctions imposed on Iranian oil exports, stressing that Tehran's oil production exceeds its exports, which flow to buyers at prices lower than global markets. Tehran also suffers from the accumulation of huge quantities of oil, and it is unreasonable to import Iraqi oil to stockpile it inside the country.

The Indonesian Coast Guard announced - on Tuesday evening - that it had seized a tanker flying the Iranian flag. On suspicion of illegally transporting oil, explaining that he had detained the ship “Arman 114”, which was carrying 272,569 tons of light crude oil, after it was seen transporting oil without a permit to the ship “Stenos” that flies the flag of Cameroon in the Natuna Sea in the north of the country.

The need to lift US sanctions

Arman believed that the agreement aims to reassure Iranian public opinion regarding Tehran's receipt of its dues for gas exports, pending a practical solution through which Iran can return its money or pay the dues owed to it as a result of importing medicine and basic commodities.

The Iranian economist believes that his country has not ratified the laws of the Financial Action Task Force (FATF) related to combating money laundering and terrorist financing as a major dilemma that is constraining its economy, stressing that Tehran's efforts to strengthen its relations with neighboring countries will not work unless the US sanctions are lifted and Tehran is removed from the blacklist.

A calculated step

for his part, Iranian economist Saeed Laylaz attributes the reason for Tehran's acceptance of bartering its gas for Iraqi oil to its keenness to help the Iraqi government provide electricity service to its people, describing the agreement as the ideal solution in light of Washington's lack of agreement to transfer funds to Iran.

And he believed - in his interview with Al-Jazeera Net - that Tehran could employ the oil imported from Iraq in order to export it to another country, or refine it in Iranian refineries near the Iraqi border, or import it in the form of oil derivatives such as gasoline and diesel.

He concluded that the exchange of Iraqi oil for Iranian gas is a positive step to overcome the emerging problems in the political and economic relations between Tehran and Baghdad, stressing that the Iranian economy has become too large to be affected negatively or positively by $11 billion.

Source: Al Jazeera   LINK

Al-Amiri: It Is Shameful For Us To Be Controlled By An Employee Of The US Treasury

Posted On 2023-07-14 By Sotaliraq  On Thursday, the head of the Al-Fatah Alliance, Hadi al-Amiri, called for a unified stance towards the US treasury measures.

And Al-Amiri said in a speech at the memorial ceremony, that: “It is shameful for us to be controlled by an employee of the American treasury.”  And he added, “I call on the political forces to take a unified position for the independence of Iraq.”   LINK

A Specialist Details The Economic Feasibility Of Bartering Iranian Gas For Iraqi Oil

2023-07-14 | 2,907 views  Today, Friday, economic expert Nabil Al-Marsoumi revealed the economic feasibility of bartering Iranian gas for Iraqi oil.

Al-Marsoumi said in a post, followed by Al-Sumaria News, that "usually barter or rather set-off is between two parties, one of whom has a surplus of a commodity and the other suffers from a deficit," adding, "However, Iran does not suffer from a deficit in the production of crude oil and black oil, but rather from restrictions." America is dependent on its oil exports, and therefore it does not need Iraqi crude oil."

He added, "Iraq's production of black oil in 2021 amounts to 335,000 barrels per day, rising in Iran to 384,000 barrels per day, while the demand for black oil in Iraq is 189,000 barrels per day, compared to 255,000 barrels per day in Iran. Therefore, Iran has a surplus of oil." Black oil amounts to 49,000 barrels per day, and therefore it does not need Iraqi black oil."

And Al-Marsoumi continued, "On this, Iraq will be, especially when it sells crude oil and black oil at international prices, as stated in the agreement. It will be the biggest winner because it will be able to export its surplus oil production from the Kurdistan fields and the surplus of black oil to pay the Iranian gas import bill, while Iran will not be able to use it."

Crude oil and black oil are used in domestic consumption because it is self-sufficient, and we cannot re-export them due to US sanctions, which raises doubts about the practical application of this spending between Iraq and Iran.  LINK

Oil For Gas".. Barter Or Maneuver To Open The US Dollar Window Between Iraq And Iran?

2023-07-13   Shafaq News/ Prime Minister Muhammad Shia’a Al-Sudani’s announcement of an Iraqi-Iranian agreement to solve the electricity crisis by exchanging gas for black oil raised many questions among specialists, including: Did America give Iraq the green light, what is the price according to which it will be determined, and the method by which it will be determined? It will transport oil.

"Vague" Agreement

Oil expert Hamza Al-Jawahiri said in an interview with Shafaq News agency; "The announcement of the exchange of crude oil and black oil for Iranian gas raises ambiguity, as Iran has crude oil that it cannot export because of the sanctions, then it comes to take crude oil from Iraq, in addition to that crude oil is accounted for by OPEC and when it is given to Iran, it will be deducted from Iraq's share." .

He continued, "Black oil has a platform in Dubai and has known international prices. America may not agree to such a barter because Iran takes oil money, meaning dollars, and whether it took it by selling black oil or transferring it is the same thing."

He stressed that "it is not known to him that the agreement will pass because this agreement has obstacles because it is not supposed to include crude oil," hoping that "the agreement will be included so that we can pay to Iran."

American Veto

Economist Nabil Al-Marsoumi said in an interview with Shafaq News agency; "It is in the interest of Iraq that Iraq exchanges black oil for gas, and it can use Kurdistan's oil in this context and load it in tanks."

He added, "The United States allowed Iraq to pay Iranian gas and electricity purchases in Iraqi dinars or a third currency, or by importing basic commodities for the Iranian people," noting that "it is not excluded that Iran will resort to selling and exporting black oil and obtaining dollars, and it is also not excluded that there will be a veto." American in agreement.

 I lingered Iraqi

The economist, Haider Al-Moussawi, said in an interview with Shafaq News agency; That "the black oil-for-gas proposal was 3 months ago, and the government waited for fear of the American rejection, and after the peak of demand for processing hours, the government went to approve the proposal."

Al-Moussawi described this agreement as "a sound step, noting that domestic gas, even if Total finishes investing in gas, will not fill the need, which means the continuation of imports."

"Barter is the most important solution"

A spokesman for the Iraqi Oil Ministry, Asim Jihad, says; "The agreement with Iran to barter Iranian gas for Iraqi black oil represents one of the most important solutions that the government and the Council of Ministers resorted to to pay dues for the supplied gas."

He added, "The agreement will ensure the smooth flow of the supplied gas and end the previous stumbling block due to the US sanctions imposed on Iran, according to which it was agreed on the supply and pricing mechanism adopted in the oil markets."

Constant Need

Former Oil Minister Ihsan Abdul-Jabbar said in an interview with Shafaq News agency, "All of our gas projects, including Total's projects, will have 4,000 cubic meters of gas production, and we have 33 gigawatt power stations, so we need 7,000 cubic meters in the summer."

He added, "The four thousand pumps producing gas will be closed for a period of 9 months, and 3 months remain in need of gas, which must be imported."

On July 10, Prime Minister Muhammad Shia al-Sudani announced that an Iraqi-Iranian agreement had been reached to solve the electricity crisis by exchanging gas for black oil, and said that the US Treasury's measures prevented Baghdad from paying the money owed to Tehran.

Several days ago, Iraq witnessed a noticeable decline in the supply of electricity due to the decrease in the supply of Iranian gas feeding power plants.

This comes at a time when the governing coordinating framework in Iraq held the US administration responsible for the decline in the provision of electric power.

Iraq relies on Iranian gas to operate electric power plants, while the Ministry of Electricity estimated that the period of Iraq's need for Iranian gas ranges between 5-10 years.

According to preliminary estimates of the Ministry of Oil, Iraq has reserves estimated at 132 trillion cubic feet of gas, as about 70% of Iraqi gas is gas associated with oil extraction for treatment, and Iraq ranks 11th among the world's countries rich in natural gas.  LINK

Pictures.. Iraqi Paws Restore The "Pulse" To The Heart Of Baghdad

Reconstruction and building  Economy News – Baghdad  Today, Thursday, the Association of Iraqi Private Banks announced the launch of the "Baghdad Pulse" initiative to rehabilitate the old areas of Baghdad.

And a statement by the association stated: “The Baghdad Pulse initiative was launched to rehabilitate the old city of Baghdad, under the auspices of Prime Minister Muhammad Shia’a al-Sudani, and the supervision of the Baghdad Municipality and the Association of Iraqi Private Banks, with the participation of the National Investment Commission, the General Authority for Antiquities and Heritage, the Baghdad Governorate and a number of ministries and other supporting institutions, and funded and implemented by Before the Community Initiatives Fund "Tamkeen", which is funded by Iraqi private banks and supported by the Central Bank of Iraq.

The statement indicated, "The current phase of the initiative includes the rehabilitation of the Serail axis towards the Shabandar Café, the police station building, and Al-Safir Square."

The statement added, "The initiative aims to revive the old areas of Baghdad and make it an outlet for the people and a point of attraction for Arab and foreign tourists, due to the great history that Baghdad enjoys."

The statement continued, "This initiative is a continuation of the Al-Mutanabi Street rehabilitation project, which was funded by the Tamkeen Fund and implemented by the Fund's Engineering Department, in cooperation with the Baghdad Municipality."

Views 147  Added 07/13/2023 - https://economy-news.net/content.php?id=35149

"Tidbits From TNT" Friday Morning 7-14-2023

TNT:

Tishwash:  Al-Amiri: An employee of the US Treasury who controls Iraq's money

Today, Thursday, the head of the "Al-Fatah" coalition in Iraq, Hadi al-Amiri, accused the United States of controlling Iraq's funds.

"It is necessary to work to achieve economic sovereignty in Iraq after the security and political stability that Iraq is currently witnessing," he said during a speech at the eulogy of one of the leaders of the Popular Mobilization Forces.

"It is shameful that an employee of the US Treasury controls Iraq's money," he added.   link

Tishwash:  this is a publication that goes out to the middle east and the uk

Iraq to begin paying for Iranian gas with crude oil

Move aims at simplifying payments current complicated by impact of US sanctions on Iran

Iraq is set to start paying for Iranian gas imports with oil in order to avoid falling foul of US sanctions.

Iraqi Prime Minister Mohammed Shia al-Sudani on Tuesday said that Baghdad and Tehran had signed an agreement following several days of talks for "the import of Iranian gas to fuel Iraqi power plants, in exchange for Iraqi crude oil".

"The agreement aims to address the gas supply crisis for power plants, while tackling payment issues and complications arising from US sanctions," said the statement from the prime minister's office.

Iraq is reliant on Iranian gas for a third of its energy needs, but is unable to directly pay for it as a result of US sanctions on Iran, forcing the country to resort to a complicated mechanism for transferring funds.

According to the mechanism, payments were to be held in a bank account and - following approval from Washington - be used by Tehran to fund imports of food and medicines, a method which left Iraq in heavy arrears.

Earlier this month, Iran halved its supply of gas to Iraq because of unpaid bills of more than $12 billion, according to Sudani.

Speaking in a televised address on Tuesday, he said that "as the American side did not give the necessary permission for the transfer of funds... the supply of Iranian gas was stopped."

"Because of the transfer mechanism and its complexity, we were unable to obtain authorisation to transfer these outstanding payments so our Iranian neighbour could continue to supply us" with gas, he said.

He added, however, that a recent payment to Iran of around $1.9bn had been made and that as a result of Tuesday's agreement "we will be able to guarantee that the gas will continue to flow."

In recent years, Iraq has seen widespread unrest and demonstrations, triggered in large part by failing energy supplies during intensely hot summers.

Corruption, crumbling infrastructure and continuing instability after decades of conflict and sanctions have left the country's energy sector in a dire state, despite having some of the world's largest oil reserves.

Baghdad has recently also been exploring several possibilities for reducing reliance on Iranian gas, such as imports from Qatar and recovering flared gas from oilfields.

There has also been criticism of Washington for its refusal to allow the release of funds to Iran.

On Sunday, the Coordination Framework - a coalition of Iran-linked Shia parties that form the largest bloc in parliament - called on the government in a statement "to contact the US side and urge the immediate unlocking of the unpaid bills related to Iranian gas imports".  link 

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Tishwash:  With a mathematical process and in numbers.. An expert reveals the economic feasibility of bartering between Iraq and Iran – Urgent

Today, Friday, economic expert Nabil Al-Marsoumi revealed the economic feasibility of bartering between Iranian gas and Iraqi oil.

Al-Marsoumi said in a post he posted on Facebook, followed by “Baghdad Today”, that “bartering, or rather set-off, is usually between two parties, one of whom has a surplus of a commodity and the other suffers from a deficit, but Iran does not suffer from a deficit in the production of crude oil and black oil, but rather from restrictions America is dependent on its oil exports, and therefore it does not need Iraqi crude oil."

He explained that "Iraq's production of black oil in 2021 amounts to 335,000 barrels per day, rising in Iran to 384,000 barrels per day, while the demand for black oil in Iraq is 189,000 barrels per day, compared to 255,000 barrels per day in Iran, and therefore Iran has a surplus of oil." The black oil amounts to 49,000 barrels per day, and therefore it does not need Iraqi black oil."

Al-Marsoumi continued, "Iraq, especially when it sells crude oil and black oil at international prices, as stated in the agreement, will be the biggest winner because it will be able to export its surplus oil production from the fields of Kurdistan and the surplus of black oil to pay the Iranian gas import bill, while Iran will not be able to use crude oil and oil." The lions are in domestic consumption because it is self-sufficient in them," noting that Iran "cannot re-export them because of the US sanctions on it, which raises doubts about the practical application of this spending between Iraq and Iran."

Earlier, the Iraqi Prime Minister, Muhammad Shia'a al-Sudani, announced that Iran would be bartering black oil in exchange for gas imported from it.   link

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Kat4Hope:  Well This Is Interesting- Iranian president welcomed in Zimbabwe with anti-West songs on the last stop on his Africa trip

Iran's President Ebrahim Raisi, center, inspects the guard of honour upon his arrival at Robert Mugabe a...Show more

The Associated Press

HARARE, Zimbabwe -- Iran's President Ebrahim Raisi was welcomed in Zimbabwe on Thursday by people singing songs criticizing the West as he made his last stop on a three-nation Africa trip aimed at finding new trade alliances to soften the impact of U.S. sanctions on his nation.

Raisi was greeted at Harare's international airport by Zimbabwe's President Emmerson Mnangagwa and dozens of supporters waving Zimbabwe and Iran flags and holding placards with Raisi's image.

Both countries are under U.S. sanctions and Raisi's trip to Africa, which has already included stops in Kenya and Uganda, highlights Iran's efforts to counter those heavy economic punishments.

Iran and Zimbabwe already have a joint permanent commission on political and trade relations and officials on Thursday signed 12 new memorandums of understanding, including agreements on agriculture, pharmaceuticals, telecoms, gas, energy and education.

Iran also signed agreements with Kenya and Uganda on Wednesday.

"Our cooperation with Zimbabwe and our cooperation with the African continent, which is a continent full of potential, could help us for mutual advances,” Raisi said in translated comments in Zimbabwe.

Raisi has recently reached out to other nations struggling under U.S. sanctions, including on his first visit to Latin America last month, when he went to Venezuela, Nicaragua and Cuba.

“It is critically important that we, the victims of Western sanctions, are talking to each other," Mnangagwa said. "The authors of these sanctions would not want us to talk to each other. But because we are both victims it is equally important that we show them that we are united.”

Iran has been subjected to a new bout of sanctions by the United States for allegedly supplying Russia with drones that have been used to devastating effect in the war in Ukraine.

The U.S. and European Union sanctions on Zimbabwe go back 20 years and are largely due to allegations of human rights abuses under former president Robert Mugabe. Some of those EU sanctions are being eased.

Iran and Zimbabwe also share historical ties and Mnangagwa thanked Raisi for Iran's help in a liberation war in the 1970s that eventually led to the southern African nation breaking free of white minority rule.

“When we went to war, Iran was our friend. I am happy you have come to show solidarity,” Mnangagwa said earlier in brief remarks on the tarmac at the Robert Gabriel Mugabe International Airport named after the late Zimbabwean leader Mnangagwa helped oust in a coup in 2017.

At the airport, supporters sang songs criticizing the West as “white masters” intent on interfering in Zimbabwe and Raisi inspected an honor guard by Zimbabwe’s military.

The last visit by an Iranian leader to Zimbabwe was in 2010 by then-President Mahmoud Ahmadinejad.

AP Africa news: https://apnews.com/hub/africa

Mot:  thanx fer Putting the Sign there…..

Mot:  ..... What Went Wrong!!!... How do We Get Back to This!!!???? 

Awake-In-3D: The Truth About the IQD and NEER – What You Need to Know

Awake-In-3D:

The Truth About the IQD and NEER – What You Need to Know

On July 13, 2023 By Awake-In-3D

InRV/GCR Articles

Many RV/GCR Land rumor mills are leading us to believe that the NEER (Nominal Effecitve Exchange Rate) of the IQD is somehow an exchange rate crystal ball for an IQD RV. While NEER sounds esoteric and super technical, it is really quite simple to understand. Let’s get to the bottom of this, shall we?

The IQD’s NEER is not an Exchangeable Rate: It’s an Indexed Economic Measurement

Foreign currency Spot Exchange Rates refer to the rates at which one currency can be exchanged for another. These rates fluctuate based on factors like supply and demand, economic conditions, and market sentiment.

On the other hand, the NEER (Nominal Effective Exchange Rate) index rate is a measure that evaluates the value of a country’s currency against a basket of other currencies. It takes into account the trade weights of different currencies and provides a broader perspective on the overall value of a currency.

While foreign currency exchange rates focus on the specific exchange rate between two currencies, the NEER index rate provides a weighted average value of a currency against multiple currencies. NEER is more comprehensive and useful for analyzing a country’s competitiveness in international trade.

NEER vs. REER: Understanding the Differences

Before we embark on our exploration of NEER, it is crucial to grasp the difference between NEER and its counterpart, the real effective exchange rate (REER). These two terms are often intertwined, but their disparities are noteworthy.

The concept of an effective exchange rate (EER) serves as the foundation for both NEER and REER. EER represents the movement indication of a domestic currency against a complete basket of global currencies, reflecting the external competitiveness of an economy. NEER, the nominal effective exchange rate, is a weighted average that measures the competitiveness of a country’s currency in the international forex market. On the other hand, REER is the NEER adjusted for inflation differentials between the home country and its trading partners.

NEER: The Nominal Effective Exchange Rate

Let us focus our attention on NEER, the nominal effective exchange rate, and its role in economic analysis. NEER can be defined as the weighted average of a country’s currency needed to purchase foreign currencies. The weight of trading is higher for countries with whom the home country has more significant trade relations. This index measurement provides valuable insights into the relative strength or weakness of a domestic currency against global currencies. Policymakers utilize NEER for policy analysis in international trade, while forex traders employ it for currency arbitrage.

REER: What is an “Adjusted” Exchange Rate?

As we move forward, it is essential to shed light on REER, the real effective exchange rate. REER is a vital concept that forms a part of the Purchasing Power Parity hypothesis. Similar to NEER, REER reflects the strength or weakness of a currency against another currency. However, it cannot be determined in absolute terms and is calculated based on NEER. REER takes inflation differentials into account and serves as a measure to compare the worth of a nation’s currency against other nations. A REER value greater than 100 implies an overrated currency, while a value within 100 indicates an undervalued currency.

Calculating REER

To comprehend the essence of REER, we must understand the formula behind it. REER is determined by considering the average amount of bilateral exchange rates between a nation and its trading partners. This calculation is then adjusted to account for the country’s trade allocation. The resulting figure shows the relative strength or weakness of the currency in a more comprehensive manner. It provides economists and policymakers with a powerful tool to assess the economic status of a country and make informed decisions.

NEER vs. REER:

To understand the difference between NEER and REER, it is crucial to determine what each of these Indexes are measuring. NEER, being the unadjusted weighted average, might seem more straightforward at first glance. However, REER, with its inflation adjustment, provides a more accurate representation of a currency’s real value. While NEER can indicate the competitiveness of a currency in the forex market, REER offers a deeper understanding by accounting for inflation differentials. Therefore, when it comes to assessing a currency’s true strength or weakness, REER takes the lead.

IQD NEER: It is Not a “Hidden” Rate

Misconceptions in RV/GCR Land now surround NEER, leading many to believe that it is a spot exchange rate used for currency exchange. It is NOT!

However, NEER is far more complex and multifaceted than a straightforward exchange rate. It is an index measurement that encompasses a weighted average of multiple foreign currencies. NEER provides valuable insights into a country’s international competitiveness and serves as a critical tool for policymakers and forex traders alike. Understanding NEER’s true nature is essential for making informed decisions in the global economic landscape.

NEER and the Iraqi IQD Explained

Now let’s dig into the NEER Index rate of the IQD. Contrary to popular RV/GCR Land rumor mills, the NEER index numbers for the Iraqi Dinar are not hidden and reported monthly and shown on the IMF’s Financial Data website called the IFS. The trend is moving higher as shown in the chart below.

In February/March of 2023, the Central Bank of Iraq (CBI) changed it’s fixed, nominal currency exchange rate from 1,450 to around 1,300 IQD per one US dollar which strengthened the IQD by approximately 10% against other foreign currencies. Since NEER is calculated based on Iraq’s primary Trading Partner Nations, we can see that over the past few months, the IQD appreciated by about that much, with one exception being the EURO as shown below.

Iraq’s Primary Export Trade Partner Nations and Spot Currency Exchange Rate Changes of Each

1. China Trade of $10.5 Billion with CNY losing 16% against the IQD

2. United Arab Emirates Trade of $5.5 Billion with AED losing 10% against the IQD

3. South Korea Trade of $2.9 Billion with KRW losing 8% against the IQD

4. USA Trade of $2.4 Billion with USD losing 10% against the IQD

5. Japan Trade of $1.6 Billion with YEN losing 11% against the IQD

Now that you understand what NEER is based on, when you look at the above trade figures and the fact the IQD spot exchange rate strengthened from 1450 to 1300 (against the US dollar), it makes sense that NEER Index value has been increasing as shown in the charts above. The fact that the NEER rate is far above 100 indicates that the IQD is actually overvalued against its trading partner currencies.

BOTTOM LINE: The latest NEER rate of 172 for the IQD is NOT a Spot Currency Exchange Rate. It’s an INDEXED Trade-Weighted rate based on Iraq’s international trading partners amongst the partner’s basket of currencies.

You can check the NEER Index rates for the IQD here: IMF International Financial Statistics Website

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