News, Rumors and Opinions Tuesday AM 3-12-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 12 March 2024

Compiled Tues. 12 March 2024 12:01 am EST by Judy Byington

Timeline – What a Week Before Us!:

On Mon. 11 March the Bank Term Funding Program (BTFP) now required that banks would no longer get funding for their loans from the Federal Reserve Board, so any loan they made would have to be out of their own gold-backed monies and not made on the fiat US Dollar from the Federal Reserve. This is a Death Sentence for US Banks.

Tier4b (us, the Internet Group) notification to set redemption/exchange appointments could occur at any moment. Tier4b will have 14-15 days to exchange at Redemption Centers at the special rates, after which you would have to exchange at the lower rates of a bank.

On Fri. 15 March the new gold/asset-backed US Note could be available to the General Public and will replace the old Federal Reserve fiat US Dollar in ATM machines. It was also likely that on that same Fri. 15 March Restitution and Rebate monies will begin to be paid out and Social Security increases may begin.

Global Financial Crisis

Mon. 11 March: Wall Street and regional banks scramble for new funds as the FED ends emergency lending program, aimed at keeping failing banks afloat during banking collapse.  https://www.disclose.tv/id/ar418mxb7p/

Mon. 11 March Argentina arrests $400 million Crypto Currency Ponzi Scheme Founder: https://news.bitcoin.com/latam-insights-argentina-arrests-400-million-cryptocurrency-ponzi-scheme-founders-brazil-defines-crypto-regulation-as-a-priority/

Mon. 11 March JP Morgan Chase Employees Steal $1,800,000 From Customers: https://dailyhodl.com/2024/03/10/jpmorgan-chase-employee-steals-1800000-from-customers-and-victims-of-elaborate-romance-scam-report/

Mon. 11 March BTFP, a bank program that provides loans to institutions to support the U.S. financial system, was now closed. Banks could no longer make loans unless their monies were gold/asset-backed:  https://www.cryptopolitan.com/us-banking-sector-speculation-btfp-closure/

Wells Fargo, Bank of America, PNC to close 1,300 Branches this year: https://www.dailymail.co.uk/yourmoney/article-13160397/bank-closure-wells-fargo-bank-america-pnc.html

BRICS sets up anti-money laundering working group – Tehran Times: https://www.tehrantimes.com/news/495984/BRICS-sets-up-anti-money-laundering-working-group

Starting on Monday, March 11th, banks will be prohibited by law from loaning the fiat US Dollar, according to an announcement from the Federal Reserve Board. During a period of stress last spring, the Bank Term Funding Program helped assure the stability of the banking system and provide support for the economy. After March 11 banks and other depository institutions will continue to have ready access to the discount window to meet liquidity needs. Nonetheless, the BTFP’s closure is likely to increase banks’ borrowing costs, meaning their profit margins will fall. They might react with higher lending rates or by making less credit available to customers, potentially weakening the economy.https://www.federalreserve.gov/newsevents/pressreleases/monetary20240124a.htm

Mon. 11 March Tokyo stocks tumble in morning on tech selling, stronger yen, Nippon.com: https://www.nippon.com/en/news/kd1139763573484061255/

Mon. 11 March Chinese Real Estate Market Bankrupt: https://www.cnbc.com/2024/03/11/chinas-housing-minister-property-developers-must-go-bankrupt-if-needed.html

Read full post here:  https://dinarchronicles.com/2024/03/12/restored-republic-via-a-gcr-update-as-of-march-12-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  JP Morgan I think is going to be extremely important to us...Don't just think that you're going to be limited to Chase and JP Morgan.  I used [them as example] only so that it could be of help to you.  To guide you.  At least you know where you can start.  If you don't like them go somewhere else.

Militia Man  They're not going to...build a country at 1310.  The math doesn't work.  I don't care how many times people try to figure that out.  Think about it for a second...1310  dinars to buy a pencil but if you can buy 100 pencils for one dinar because the dinar is worth $3.00, $4.00 or more. How many pencils can you buy?  Think about that in bricks, steel, sewer systems, infrastructure, lighting, military operations, airplanes, guns and weapons, grocery stores at 1310 as opposed to 2, 3, 4 bucks.  They specifically bring up and invoke 'previous eras' not me.  I just report that...

The US Is Flat Broke After US Senator Exposes Government Spending Scam!

Atlantis Report:  3-11-2024

The United States government's debt has recently surged past an unprecedented milestone. Despite the nation's strong economic standing and low unemployment rates, the relentless growth of the debt raises serious concerns about its implications.

 As experts warn of the dangers posed by this burgeoning debt, it is important to examine the root causes and potential consequences of this financial predicament.

https://www.youtube.com/watch?v=esxcgVovGqo

MilitiaMan: Iraqi Dinar - IQD - Dinar Update - International Compliance - Exchange Rate - Within Hours ? -

Iraqi Dinar - IQD - Dinar Update - International Compliance - Exchange Rate - Within Hours ? -

MilitiaMan and Crew:  3-12-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=VqKvbYKstm0

Iraqi Dinar Today Video Updates Monday Evening 3-11-24

Iraqi Dinar Today Video Updates Monday Evening 3-11-24

WOW its, Great BOA,CITI Bank, Chase Bank Show IQD New Exchange Rate On Screen – 2:43

Finally $3.22 Rate Goal to Revealed – 3:06

Massive Breaking News IQD & VND International RV Announced Tomorrow – 2:51

Insightful News on Iraq dinar  What You Need to Know – 2:19

 WOW its, Great BOA,CITI Bank, Chase Bank Show IQD New Exchange Rate On Screen – 2:43

https://www.youtube.com/watch?v=717Q8RIbyg0

Finally $3.22 Rate Goal to Revealed – 3:06

https://www.youtube.com/watch?v=Q-foRuwFrSo

Massive Breaking News IQD & VND International RV Announced Tomorrow – 2:51

https://www.youtube.com/watch?v=jABZcoeAEtE

Insightful News on Iraq dinar  What You Need to Know – 2:19

https://www.youtube.com/watch?v=2KU-oEXtafU

Currency Insider Iraqi Dinar - Dong Updates Monday Evening 3-11-24

Currency Insider Iraqi Dinar - Dong Updates Monday Evening 3-11-24 

Iraqi dinar new rates going $3.50 Or Above – 3:18

CBI Revalue Iraqi dinar $3.30 – 2:48

Iraqi Dinar RV Starting Now – 2:36

 Iraqi dinar new rates going $3.50 Or Above – 3:18

https://www.youtube.com/watch?v=QvnIxG0XPKM

CBI Revalue Iraqi dinar $3.30 – 2:48

https://www.youtube.com/watch?v=_BV2a4ZyuPA

Iraqi Dinar RV Starting Now – 2:36

https://www.youtube.com/watch?v=-InTkTWH8NQ

KTFA Monday Night CC: " FRANK26……3-11-24……IQD UPDATE…….WHO’S YOUR DADDY"

KTFA

Monday Night Conference Call

FRANK26……3-11-24……IQD UPDATE…….WHO’S YOUR DADDY

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=02YISYsRTUw

Iraqi Dinar Video Updates Monday Afternoon 3-11-24

Iraqi Dinar Video Updates Monday Afternoon 3-11-24

Finally Chase Bank Changed IQD & VND Value – 3:21

This is Big Massive Exchange Rate – 3:24

Finally Wells Fargo Set IQD & VND New Rate – 2:30

WOW Iraqi Dinar Big Revaluation – 2:40

 Finally Chase Bank Changed IQD & VND Value – 3:21

https://www.youtube.com/watch?v=OW2RNHcKP7M

This is Big Massive Exchange Rate – 3:24

https://www.youtube.com/watch?v=IexlB8DeuXY

Finally Wells Fargo Set IQD & VND New Rate – 2:30

https://www.youtube.com/watch?v=luh1x0Rp5Ew

WOW Iraqi Dinar Big Revaluation – 2:40

https://www.youtube.com/watch?v=-1tpPbf--Ew

Iraq Economic News and Points to Ponder Monday Afternoon 3-11-24

Iraq Economic News and Points to Ponder Monday Afternoon 3-11-24

Tlm724 Administrator Bondlady’s Corner

With Its Rise Locally... Iraq's Gold Reserves Were Revealed

Time: 03/10/2024 12:50:33 Read: 2,041 times  {Economic: Al-Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the size of the Iraqi gold reserve at the Central Bank of Iraq.

Saleh told {Al-Furat News} agency, “There should be a distinction between fundamentally imported commercial gold and monetary gold, which is an integral part of the country’s foreign reserves, as monetary gold falls within the diversification of the monetary authority’s investment portfolio, and the numbers indicate that it exceeds 132 tons of monetary gold and within the safe range of reserves.” foreign to the country.

He added, "As for commercial gold, it is regulated by a law and instructions that are subject to the controls of commercial systems and the gold marking law, which the Central Agency for Standardization and Quality Control undertakes to mark and protect gold assets supplied to the country as national wealth."

Local markets in Baghdad are witnessing an increase in gold prices, as the selling price of a gram (the mithqal) reached 465 thousand dinars.

An economist, Salah Nouri, revealed the reasons for the rise in gold prices.

Nouri told Al-Furat News, “What is happening at the present time in terms of the increase in gold jewelry is the result of an increase in demand for it. When the demand for it increases, its price increases, and so far this is economically logical.”

Nouri added, "But more importantly, why has the demand for gold jewelry increased at the present time? I think that the citizen tends to save in it instead of the dollar, and this is a weak reason. It is more likely that traders speculating in the dollar are turning to gold instead of the dollar for reasons of speculation or smuggling, because Individual citizens’ need for gold jewelry is limited to special occasions.”

Meanwhile, an informed source told {Al-Furat News} that one of the reasons for the rise in gold prices was due to “citizens’ weak confidence in banks,” so they withdrew the amounts deposited in banks and turned to gold.”    LINK

Central Bank Sales Exceed $213 Million Today 

Monday 11, March 2024 13:03 | Economical  Number of readings: 307  Baghdad / NINA / The Central Bank of Iraq revealed, today, Monday, its total sales of foreign currency through the electronic window.

The window recorded the total amounts of transfers abroad (remittances, credits) at $195,840,125, while the total amount of cash sales amounted to $17,578,943, and the total amount of sales amounted to $213,419,068.

The cash sale was set at 1,305 dinars to the dollar, while the bond credits, international settlements for the electronic card, and foreign transfers were set at 1,310 dinars to the dollar. /End 11

https://ninanews.com/Website/News/Details?key=1112402

A Slight Increase In Dollar Prices In Local Markets

Monday 11, March 2024 10:44 | Economical Number of readings: 270  Baghdad / NINA / The exchange rates of the US dollar against the Iraqi dinar rose slightly today, Monday, in the markets of Baghdad and Erbil.

The selling price of the dollar in Baghdad rose to record 150,250 dinars, while the price yesterday, Sunday, was 150,150 dinars for every 100 dollars.

The selling price in money exchange shops in local markets in Baghdad was 151,250 dinars, while the purchase price was 149,250 dinars for every 100 dollars.

In Erbil, the price of the dollar also recorded a slight increase in banking shops, as the selling price reached 150,100 dinars, and the purchase price reached 150,000 dinars for every 100 dollars./End H

https://ninanews.com/Website/News/Details?key=1112364

A Slight Decline In The Prices Of Heavy And Medium Basra Crude Oil

3/11/2024  Mawazine News – Baghdad  The prices of Basra Heavy and Medium Crude crude fell slightly on Monday, coinciding with the decline in global oil prices.

Prices for Basra Heavy crude fell by 5 cents to reach $77.02, while prices for Basra Medium crude fell by 5 cents to reach $80.30.

Oil prices began this week's trading with a decline, continuing the losses they suffered last week due to concerns about the slowdown in demand in China, but the continued geopolitical risks surrounding the Middle East and Russia limited the decline.  https://www.mawazin.net/Details.aspx?jimare=243666

Ministry Of Planning: Inflation In The Country Has Risen To (4.5%)

Economy | 03/11/2024   Mawazine News – Baghdad  The Iraqi Ministry of Planning confirmed that the cumulative inflation level in the country has risen to approximately 4.5%.

The spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said in an interview followed by Mawazine News that the last monthly inflation in January 2024 was higher by 0.4% compared to what it was previously.

Abdul Zahra Al-Hindawi added that the annual inflation index rose by the same percentage compared to what it was in January 2023, meaning the cumulative inflation became approximately 4.5%.

Regarding poverty levels in the country, a spokesman for the Iraqi Ministry of Planning explained that “data from the survey results regarding the level of poverty in Iraq will be released after about two months.”

Abdul Zahra Al-Hindawi pointed out that the aforementioned survey was conducted in all governorates, including the governorates of the Kurdistan Region.

Although Iraq is considered one of the oil-rich countries, it suffers from a continuous rise in poverty rates, amid government promises to take measures to address them, but they have not achieved the desired results.

The data now approved by the Ministry of Planning, which dates back to the year 2018, indicates that the poverty rate in Iraq is 21%, and in the governorates of the Kurdistan region it is about 6.5%.

Inflation is an increase in the general level of prices of goods and services, and the Consumer Price Index (CPI) is the most common and used indicator, as it tracks the average level of prices of goods and services that a family consumes.    https://www.mawazin.net/Details.aspx?jimare=243647

To read more current and reliable Iraqi news please visit BondLady’s  Corner: https://www.bondladyscorner.com/  

Provoking Points to Ponder on Decisions 

Necessity relieves us from the embarrassment of choice.  - Vauvenargues

When you have to make a choice and don't make it, that is in itself a choice.  - William James

A man without decision can never be said to belong to himself; he is as a wave of the sea, or a feather in the air which every breeze blows about.  - John Foster

Nothing is so exhausting as indecision, and nothing is so futile.  - Bertrand Russell

Not to decide is to decide.  - Harvey Cox

Decision is a sharp knife that cuts clean and straight; indecision, a dull one that hacks and tears and leaves ragged edges behind it.  - Gordon Graham

http://famousquotesandauthors.com/quotes_by_topic.html                                   

http://famousquotesandauthors.com/topics/decisions_quotes.html 

Goldilocks' Comments and Global Economic News Monday Evening 3-11-24

 Goldilocks' Comments and Global Economic News Monday Evening 3-11-24

Good Evening Dinar Recaps,

"The Yuan is the world's fifth most-used currency for trade. The IMF, which is due to review the basket's composition later this year, must deem any new currency "freely usable," or convertible - seen as a key obstacle for the Yuan, also known as the Renminbi. But the Fund also could change its criteria, or have a phased entry for the Renminbi after it meets the standards, as some officials have suggested."

Since the time of the quote above, the Renminbi has been included in the Special Drawing Rights of the IMF. There's even a bill that includes special recognition of China's currency and it's role in the future global economy.

Below, you will see a link to the dollar act legislative bill currently in the introduction phase. It states inside the introduction that digital dollar has to be formed this year. This means that the Stablecoin for the United States dollar is and will find its regulations completed for trade inside the new QFS.

Currently, the WTO is in process of currency reforms this year. They are adjusting percentage prices among several countries' goods and services to make trade among nations a "More Level Playing Field." These changes will have corresponding exchange rate adjustments through a re-indexing process.

Meanwhile, China's currency in trade is increasing in volume and part of the WTO's evaluation for the revaluation of the Eastern half of our World's currency values.

Role of the Renminbi:

"An SDR allocation is a way of supplementing Fund member countries' foreign exchange reserves, allowing members to reduce their reliance on more expensive domestic or external debt for building reserves."

© Goldilocks
PBC Gov
Congress Gov
Nasdaq
~~~~~~~~~~

Old traditional money is transitioning into digital gold money. Today and tomorrow are significant days in this transition process.

The reliance on old money to support the banking system is going away today as institutional money continues to pour into the new digital economy.

Tomorrow, price pressures will begin to form on new money (tokenized assets). This will no doubt begin a cascade of events.

This allows institutional money to begin increasing money velocity inside the new digital ecosystem. When Stablecoins are regulated. You will see retail money begin to flow into the markets. Brookings Edu

© Goldilocks

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"The Federal Reserve Board announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions."   17 hours ago

We talked about this around 2 years ago. Look for banking consolidations to take place. Those capable of meeting Capital 3 requirements will move forward.

Here is where the rubber meets the road. The integration of a Digital Gold Banking System will begin taking its first steps into the Global arena tomorrow. Financial Express

© Goldilocks

👆 As the article States, look for this to be a gradual integration for some banks.

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Hong Kong CPPCC members advocate for cross border e-commerce development - Daily Times

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CAIRO — Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a staggering shortage of foreign currency and soaring inflation. The flotation of the Egyptian pound, combined with a sharp raise of the main interest rate, is meant to combat inflationary waves and attract foreign investment.

Egypt floating currency, agreeing with International Monetary Fund to increase bailout loan - Washington Times

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CBDC incoming...  | Twitter
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FEDNOW and Ripple Partnership:
This announcement marked the official integration of Ripple technology and XRP within the FedNow payment system, signaling a significant development in the use of blockchain technology and digital assets in the global financial system.   Supra

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CBDC vs. Cryptocurrency: Competition or Collaboration Towards the Future of Digital Finance? - Modern Diplomacy

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Silver Prices Forecast: Will Gold Strength, CPI Data Drive XAG/USD’s Direction Next Week? | FX mpire

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Drivers of Dollar Share in Foreign Exchange Reserves - FEDERAL RESERVE BANK of NEW YORK

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Iraqi PM Al-Sudani announces 6% growth in Non-Oil GDP - Shafaq News

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BlackRock To Buy Bitcoin ETFs For Global Allocation Fund  | Bitcoinist

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Larry Fink bets Bitcoin ETFs are just the beginning as Wall Street eyes $10tn tokenisation play – DL News

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Monday Evening Chat with MarkZ 3-11-2024

Monday Evening News with MarkZ

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good evening to all….hope your day was great

Member: Seems like things are ramping up…..might be a hot week for us all. Any big news Mark?

Member: Are they going to knock it out this week?

MZ: They need to knock it out this week….A lot of people are expecting it this week in the banking world. …we will see what happens.…

Member: Isaac posted he is expecting a bond update tomorrow

MZ: A lot of my bond folks are looking for an update tomorrow. Between tomorrow afternoon and Wednesday morning.

Member: Frank26 doesn’t think .76 rate is right. He thinks it could go to $4.25.

MZ: We talked about this all morning and the article it came from….….for those that were not here be sure to go and listen. I agree with him. I don’t think it’s accurate either but it shows us they are planning and putting in mechanisms to revalue. I think they floated a much lower rate than they are going to go with

Member: Just seeing that possible huge rate increase in an actual article was exciting….makes it seem more “real” …I admit to having doubts about all of this lately.

Member: MarkZ. The Dinar was at $3.22 when it was devalued. Taking  inflation into account. The Dinar would be $4.28 today.

Member: I think .76 cents is a sucker rate.

MZ: I also believe .76 cents would be a sucker rate.

Member: Maybe .76 cents prepares the forex market for what is to come. So $3.50 to $4.25 won’t surprise them?

MZ: I agree and it also prepares the people for a different rate. This big a change needs to be prepared for.

Member: Melanie Hinds has contacts in Iraq who think it will go between the 10th to the 24th of March.

MZ: That’s the general consensus amongst my Iraqi contacts as well….We will see how it plays out.

Member: What do you think silver will go up to Mark?

MZ: I think silver was close to hitting at $25 today. If they quit suppressing and manipulating it…we may have already seen it over $300.oo an ounce….just some quick math.

​​Member: Today was the end of the Bank Term Funding Program. Smaller banks possibly could close.

Member: Mark, do these things have to go before the RV? 1. Public announcement Iraq joined the WTO. 2. Dinar RV in Gazette. 3. CBI announce RV publicly. 4 Announcement US will withdraw its troops from Iraq

Member: IMO all of that can happen at the same time as the RV/Reset

Member: We have had some much evidence and with a WTO meeting coming up on the 20th I think this week should be the one!! All lining up

MZ: Looks like we will have MilitiaMan with us on Thursday AM…..will be a good one.

Member: No offense but I hope we don’t have a podcast on Thursday because we are at the banks…and exchanging

MZ: Wouldn’t bother us at all if we both missed it for that reason.

Member: On RV DAY WE NEED TO DECLARE A NEW NATIONAL HOLIDAY- FREEDOM DAY !!!!! Just to remind everyone regularly so we don’t go backwards again.

Zester joins the stream tonight. Please listen to the replay for his information and opinions.

​​ JOIN ZESTER ON HIS NEXT PODCAST ON WEDNESDAY AT 5:00 PM EST!

Zesters Links all in one! The Discord is an amazing time and the community is growing fast! https://linktr.ee/CrazyCryptonaut

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

​TO GET THE “REAL MARKZ ACCOUNTS”, TWITTER, YT, RUMBLE, TELEGRAM ROOMS, AND FOR MARK’S DAILY LINKS TO HIS WEBSITE: https://theoriginalmarkz.com

STAY IN THE KNOW: FOR UPDATES ON PODCASTS (CHANGES & GUESTS). YOU WILL FIND PLENTY OF USEFUL INFO THAT KOUKLA UPDATES OFTEN FOR MARK AT THE TELEGRAM INTEL CHANNEL: https://t.me/+K_GNVfTI0gFkZWYx

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

https://www.youtube.com/watch?v=f9WKWJ5S7I4

More News, Rumors and Opinions Monday Afternoon 3-11-2024

KTFA:

Clare:  Chambers of Commerce reveal their expectations for the “parallel market” in Ramadan: decline is the dominant feature

3/11/2024   Baghdad

Today, Monday (March 11, 2024), the head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, revealed his expectations for the dollar exchange rate in parallel markets during the month of Ramadan, while stating that the decline will be the dominant feature.

Al-Tamimi told "Baghdad Today", "The exchange rate of the dollar in the parallel market at the present time is somewhat stable," indicating that "the government's measures have contributed to reducing the phenomenon of dollarization in the markets, pushing towards electronic circulation of funds, and reducing the phenomenon of smuggling."

He added, "Government policies have greatly reduced speculation that was generating billions of dinars to parallel market whales and smuggling," adding, "If it had not been for government intervention, the dollar exchange rate would have been strongly approaching 200,000 dinars for every $100 "

Al-Tamimi pointed out, “Our expectations for the dollar exchange rate in Ramadan indicate a continuation of the slow decline to below 150,000 dinars per 100 dollars, but we are in a situation where crises or surprises could occur that change the course of the exchange rate within hours, but in all cases the decline is The dominant feature of the parallel market.

The Parliamentary Finance Committee confirmed on Wednesday (March 6, 2024) that the dollar is controlled by the relevant government agencies, calling for not taking into account the rumors of losing and corrupt parties.

Committee member Moin Al-Kazemi told “Baghdad Today” that “there are some politically losing parties and personalities who have major suspicions of corruption, working to continue spreading rumors that the government is not in control of the dollar market and the Iraqi dinar is declining , for the purpose of political influence as well as influencing the market.”

Al-Kadhimi added, “The government is currently in complete control of the dollar in all its transactions, and there is real and serious work to strengthen the Iraqi dinar,” stressing that “everyone is required not to take into account the rumors of losing and corrupt parties, as they do not want economic stability, to achieve their suspicious agendas.”   LINK

BlaqueBeauty:  IMO Mr Frank.. has said “just a flip of the switch”

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Clare:  Advisor to the Prime Minister: The stability of the exchange rate gives relative stability to gold prices

3/11/2024

The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the relative stability of gold prices in Iraq due to the value of the dinar.

 Saleh told {Al-Furat News} agency, “What determines gold prices today are the international gold exchanges, noting that the stability of the official Iraqi dinar exchange rate to the dollar gives relative stability to gold prices.” He noted that "the value of gold is exposed to the cycle of global gold assets, which constitutes the basic variable for the price of gold on the global scale, whether rising or falling."

Gold prices took a breather today, Monday, after a series of record highs that came against the backdrop of a slowdown in the labor market in the United States and statements from the US Federal Reserve, while traders awaited the inflation report in the United States in search of new indications of the possible date for reducing interest rates.

Gold settled in spot transactions at $2,177.24 per ounce by 06:02 GMT, while US gold futures contracts fell 0.1% to $2,183.90.

Gold recorded an unprecedented level of $2,194.99 for the fourth day in a row on Friday, after data showed a slowdown in the labor market in the United States.

 The selling price of gram in the local markets in Baghdad today, Monday, is 460 thousand dinars.

Raghad Dahham   LINK

Sir Shawn:  WOW, IMO…..Did you all catch this? 

31.1 grams per ounce @460,000 Dinar per gram
460,000x31.1= 14,306,000 Dinar 
14,306,000~1,310=10,920.61 USD per ounce of gold. WOW

Cleitus:  Also.., IMO, could there be a US treasury bond sell-off from other countries hitting the global scene, thus weakening the dollar and affecting gold prices as well? Seems everything is coming together, IMO. WOW!!

Clare:  SIR_SHAWN I LIKE YOUR THINKING IN POST #22 BUT IT LOOKS LIKE THEY ARE NOT TALKING ABOUT 1 GRAM FOR THAT PRICE imo
THE ARTICLES ARE NOT SO CLEAR CUT AT TIMES….. HERE IS THE MEANING IN ARABIC: Mithqāl (Arabic: مثقال) is a unit of mass equal to 4.25 grams (0.137 ozt) which is mostly used for measuring precious metals, such as gold, and other commodities, like saffron.

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Venustwo2:  The month of Ramadan has officially started. According to the calendar , it goes until March 9/2024.  According to my friends at work, no financial topics or the likes during this Holy month. Lets see what happens during Eid al-Fitr.

Paulette:  IMO.....Sistani set tomorrow, 3/12/24 as the first day of Ramadan.....Note, IMO, Kuwait Reinstated their currency during Ramadan in 1991........therefore, it appears that it very well can be possible to see Iraq change their currency structure during Ramadan.

Ryan1216:  This very well could happen during Ramadan. Time will tell

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  The conditions of the monetary reform are perfect.  All the waiting that we've been having forever and ever is also very perfect because what we're waiting for is just one thing and one thing only, the new exchange rate.  That's it.  The evidence is, banks know now. 

Pimpy  What is the difference between a mixed economy and a market economy?  In a mixed economy the government plays a more active role in regulating and controlling certain aspects of the economy while in a market economy, the government's role is limited to maintaining a level playing field and protecting property rights...We know right now Iraq has a mixed economy...[with] a lot of state ran businesses...

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Fight, corruption IQD Iraq

Nader:  3-11-2024

https://www.youtube.com/watch?v=PfWrac127_A

"Iraq’s ruling coalition may call for early elections" Thoughts from TNT Members

TNT:

VictorD:  "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity."   According to this....$1 USD would equal 1.32 Dinar which would make the value of the Dinar about 75 cents.

Tishwash: Iraq’s ruling coalition may call for early elections

 from Jerusalem Post

By HUDHAIFA EBRAHIM/THE MEDIA LINE

MARCH 10, 2024

A poll by the nongovernmental Iraq Statistics Organization found Prime Minister Mohammed Shia’ Al Sudani to have an approval rate of 51%, the highest of any Iraqi official.

 Iraq’s ruling coalition plans to call for early elections in an attempt to overthrow Prime Minister Mohammed Shia’ Al Sudani.

Al Sudani belongs to the Coordination Framework, an alliance of Shiite parties loyal to Iran. But after assuming the premiership, Al Sudani changed his approach toward the parties and came to disagree with many of their political positions. 

A leader in the Islamic Dawa Party, which Al Sudani led until stepping down in 2019, told The Media Line that Coordination Framework parties have been meeting for about five months and plan to call for elections in 2024 or early 2025. 

“The plan is to attack the prime minister, belittle his achievements, bring him down popularly, and create more political and economic problems, after which the Iraqi street will go out in demonstrations demanding the overthrow of the government, and then call for early elections, and not nominate Al Sudani again, or grant him any position,” the source, who asked to remain anonymous, said. 

The source noted that two previous Iraqi prime ministers had lost their positions after the Iraqi public turned against them. 

Party fears creation of new political party

“The party fears that Al Sudani may announce the formation of a new political party or alliance, run in the upcoming elections, and become the ruling political majority in Iraq,” the source added.

The dispute between the Coordination Framework and Al Sudani relates to the prime minister’s approval of US Federal Reserve policies to prevent currency smuggling. These measures reduced the circulation of US dollars in Iraq and increased the price of the dollar. 

What is Outbrain

Al Sudani also implemented several policies that have boosted his popularity. He increased government salaries and wages for retirees, launched major development projects in the capital and several Iraqi governorates, and announced plans to improve infrastructure and expand the nation’s road network.

According to official statistics, Al Sudani also significantly reduced unemployment. In addition, he passed a social security law for workers in the private sector and announced a plan to build 1,000 schools and more than a million residential units.

Since mid-2023, at least 10 countries, including some in the Gulf Cooperation Council, have announced new investments in Iraq. The exchange rate of the dollar in the parallel market has also stabilized since November 2023.

A September 2023 opinion poll by the Government Advisory Board found that Al Sudani enjoys a 78% approval rate. Another poll by the nongovernmental Iraq Statistics Organization found him to have an approval rate of 51%, the highest of any Iraqi official. 

Al Sudani has spurned many political allies and opponents. He did not support former Speaker of Parliament Mohamed al-Halbousi and worked for his removal. He also removed most of the leaders of the Popular Mobilization Forces—a group of Iranian-backed militias—from government positions.

The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity. 

Abbas al-Musawi, adviser to the former Prime Minister Nouri al-Maliki, said in statements to Iraqi media that Al Sudani’s achievements are achievements “for everyone,” while also saying that Al Sudani will not be reelected as prime minister.

“We are not afraid of Al Sudani. We have our audience, and it is a stable audience,” al-Musawi said. 

Al Sudani has faced heavy criticism on Iraqi television

Jaafar Al-Khudairi, a member of the National Wisdom Movement, one of the Shiite parties within the ruling Coordination Framework, told The Media Line, “The Dawa Party is trying to state that only its cadres are capable of running the state, but this is not true.”

He said that the parliament is discussing a new law regarding elections and that new elections might be called after that law’s passage. 

Karar Sahib, director of the Iraqi Media Observatory, told The Media Line that Al Sudani has faced constant criticism on Iraqi television. 

“There are channels affiliated with the Shiite religious parties, which were the most offensive, as they only showed the negative aspects of the decisions, and tried to exaggerate them,” he said. 

He said that consistencies across different channels suggest that there may be a single writer behind the criticism. 

Sahib defended Al Sudani’s achievements. “Iraq is now making an unprecedented renaissance,” he said. “It is true that the situation is still below ambition, but it is much better than before.”

Muhammad Al-Bouflah, a former professor of political science at the University of Baghdad, told The Media Line that the current political climate is a result of Al Sudani’s attempt to fracture the coalition.

He also said that the Coordination Framework will succeed in holding early elections only if Shiite cleric Muqtada al-Sadr comes out in favor of the plan. 

“I do not think that Muqtada al-Sadr will return to trusting the Coordination Framework after they removed him from the political process, and therefore the prime minister will continue to complete his term as president,” he said. 

Former Member of Parliament Shaiban Al-Kilani told The Media Line that the disputes have to do with the different parties’ attempts to vie for power. 

“The disputes are only over shares of the cake,” he said, “and are not disputes over the popularity of the current prime minister.”  link 

RoraH:  The quote in (bold) is the first time I've seen that information stated so blatantly in an article! Woooooooooooooohhhhhoooooooooooooooo!!! Come on RV!