ABOUT THE NEWSLETTER:
February 11, 2025 Mnt Goat News Brief
Guten Tag everyone:
I have some very good news to report today and some very bad news.
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Luke 6:38
Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you.”
More news….
THE DILEMMA OF LINKING BAGHDAD TO TEHRAN: US SANCTIONS “WILL DESTROY IRAQ” BEFORE IRAN
The US administration’s stance towards Iraq in light of the sanctions imposed on Iran raises questions about the future of Iraqi-US relations, especially with the escalation of economic and political pressures.
Strategic affairs researcher Nabil Al-Azzawi told Baghdad Today that Iraq is striving to distance itself from the escalation between Washington and Tehran, but US President Donald Trump’s decisions may complicate the situation, especially with regard to the use of the dollar in Iraqi-Iranian financial transactions.
(RV tomorrow? Not possible! Stay tuned…This situation with Iran has to be worked out. I don’t know where in hell many of the intel gurus get their information from but I am here to tell you that this is not pretty for Iraq. What will Iraq do? Will they comply with the U.S. request and work to stop these dollars to Iran or will Rafidian bank go under severe US sanctions? How can anyone eve begin to think the US is going to sign-off on the RV with this situation? Yes, all you intel gurus out there. I am talking to you! ☹)
More news….
WORLD GOLD COUNCIL: IRAQ MOVES UP IN GLOBAL GOLD RESERVES RANKING – WORLD GOLD COUNCIL
Iraq has climbed one spot in the global ranking of countries with the largest gold reserves, reaching the 28th position out of 100 nations, according to the latest data from the World Gold Council.
The February report shows that Iraq advanced from 31st place globally and now ranks fourth in the Arab world, following Saudi Arabia, Lebanon, and Algeria.
Iraq increased its gold holdings to 162.7 metric tons, accounting for 12.7% of its total reserves, the data showed.
The United States remains the world’s largest holder of gold, with 8,133 metric tons, followed by Germany (3,351 tons), Italy (2,452 tons), and France (2,437 tons). At the bottom of the list, Trinidad and Tobago holds 1.9 tons.
More news….
SAEED TAVAKLI: IRAQ SIGNS NEW GAS EXPORT CONTRACT WITH IRAN
The CEO of the National Iranian Gas Company, Saeed Tavakoli, confirmed today, Saturday, “The export of gas to Iraq is currently ongoing, and we have recently signed a long-term contract with Iraq.”
Tavakoli told the Iranian Mehr News Agency regarding US President Donald Trump’s decision last Wednesday to cancel the exemption granted to Iraq to import electricity and gas from Iran as part of new sanctions against Tehran, “The decision represents an escalation of US pressure on Iran, as it pressures Iraq to reduce its dependence on Iranian energy.”
Saeed Tavakoli stressed, “The export of gas to Iraq is currently underway, and since we have recently extended a good contract for exporting gas, it is likely that the cancellation of the exemption granted to Iraq to import electricity and gas from Iran was for another form of gas import.”
(Please full article it the Articles Sections below. This is going to be a “stand-off” between Iraq and the US on the subject of cutting off gas and electricity from Iran. You might want to take a look at article titled “AL-SUDANI ASKS THE TRUMP ADMINISTRATION TO CONTINUE GRANTING IRAQ AN EXEMPTION FROM IMPORTING IRANIAN GAS” President Trump already cancelled the exemption. What next? The secretary of state Rubio will soon visit Iraq so this will be an important topic along with the smuggling of dollars to Iran.)
STATUS OF THE RV
I have some very good news to report today and some very bad news. Oh boy! Which do you want first….lol..lol..lol.. 😊 In the long run we all should know that this is going to work itself out and Iraq will be successful it just may be a little later than sooner. Remember that this is a continued “RV Saga” until the day it actually happens. Here are the main issued plauging Iraq:
1)Continued dollar smuggling to Iran through Rafidian Bank: Yes, when you are dealing in dollars and these dollars actually belong to the U.S. Federal Reserve this give the US power over Iraq. Isn’t Iraq supposed to be de-dollarized? Aren’t they also using electronic means to transfer money? So then where are all these dollars coming from? Let’s find the answers to these questions.
2)The U.S. cancelling of the Exemption of selling of Iranian Gas and Electricity to Iraq: I thought Iraq was out of Chapter VII sanctions so what is this hold that the US still has over Iraq? How can they even dictate these terms to Iraq? Let’s find the answers to these questions.
The Bad News:
This is our RV Saga. If you read the rest of the news for this period is it all very good but let’s deal with the bad news first and then I’ll get to the good stuff. But any idiot can see that there is absolutely NO WAY that U.S. is going to allow the Iraqi dinar to revalue and float back on FOREX markets unless these situations are taken care of. In fact I will even go further and use the God given common sense He gave me and tell you that Iran will have to be neutralized entirely before Iraq will get back its dinar currency to its glory days.
I know this all very harsh news for many of us to take today. Do you think I like it? I too am invested in the IQD. But we all have to put on our BIG BOY PANTS, SUCK IT UP and deal with the reality of the situation in Iraq. I will also add that this situation could change very quickly and we are not talking about years or even months. Iran is already on the brink of total economic collapse and I feel sorry for the common Iranian citizen. But like what happened in the Gaza strip the Iranian people keep this idiot
Ayatollah Khamenei, who has been supreme leader since 1989. He is head of state and commander-in-chief. He also has authority over the national police and the morality police. The government basically does what he tells them to do. He has an ideology which is to destroy Israel and to manipulate and terrorize the world to gain his wealth.
Yes, Khamenei, a purist dictator in every sense of the word. For the U.S. it is critical to take down the Iranian leadership for lasting PEACE in the middle east will never occur with Ayatollah Khamenei or anyone like him in charge in Iran. Enough is enough of this constant terrorizing of the world through Iranian extreme Muslim ideology. Oh…. did I mention Iran’s effort to build a nuclear warhead and have the capability of intercontinental missile delivery system for it? Why would they want this even?
So, you see there are challenges when it comes to Iran. Under the Obama and Biden administration the foreign policy towards Iran was one of placating Iran rather than challenging them through hard sanctions. We all witnessed the result on Oct 7th and the Israeli attack. The Trump policy is just the opposite of placate and one of aggressive action as he knows Iranian leadership must be taken down for his middle east plan for PEACE to be successful. It is just unfortunate that Iraq is caught in the middle of it all.
As investors, we must remember a couple things too about the relationship between Iran and Iraq. Although from an outsider viewpoint we envision Iran as so bad, but for the Iraqi people, Iran is their neighbor and many Iraqis have roots or Shia relatives in Iran. Iran also supplies a large labor sector for Iraq as well as the electricity and gas.
Deep down the Iraqi people somewhat sympathize with Iranian people. They may not like the Iranian leadership under the Ayatollah regime but it is the average citizen that connects the two countries together. Remember also that billions in trade with their Iranian brothers and sisters is important to Iraq too. Do you see the picture more clearly now? Do you see that if the Iranian leadership can be neutralized there is great hope for Iran to be a great free and democratized nation again. It is not the average citizen that hates the western culture and Israel, but the lies that are being spread. Yes, lies of hate by very wicked people in charge of that country. The prophets too have given us words that God is working to reverse this situation with Iran. I fully believe He will accomplish this task.
Here are a couple articles in the news today that you can reference. Each article can be found in full in the Articles Section of today’s Newsletter. Here are some recaps of the news for your convenience:
☹“AMERICAN EYES LOOK AT “RAFIDAIN BANK”.. SMUGGLING DOLLARS TO IRAN MAY LEAD TO SANCTIONS AND “ECONOMIC COLLAPSE”
“American eyes are turning towards the government-owned Rafidain Bank and demanding that sanctions be imposed on it, describing it as a “window for smuggling dollars to Iran,” while politicians and academics do not view the matter with optimism, especially since any impact on the bank will cause financial tensions within Iraq, as it is one of the most important government banks.”
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☹“COMPLEX NETWORKS AND METHODS OF SMUGGLING DOLLARS FROM IRAQ TO IRAN.. AMERICAN REPORT REVEALS THE DETAILS”
An American report stated that Numbers Massive Central Bank Auctions Iraqi In selling hard currency, it raises doubts and concerns about the possibility of smuggling a large part of the currency to Iran. US President Donald Trump signed a presidential memorandum on Wednesday to take immediate action by federal agencies to prevent Iran from using the financial system Iraqi.
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☹“CONTROVERSY OVER THE DOLLAR IN IRAQ.. EXPECTATIONS OF A PRICE INCREASE AND THE GOVERNMENT REASSURES!”
The exchange rate is volatile and the dollar is rising against the dinar, which is putting the Iraqi economy in great challenges, raising fears of a possible financial crisis. stressing the need for urgent reforms to ensure the sustainability of the economy. The advisor to the Iraqi Prime Minister, Dr. Mazhar Muhammad Salih, said that “the government is not currently considering amending the exchange rate equation or what is known as “monetary adjustment”, denying the speculations circulating in this regard. Salih pointed out that “this stability is due to the strong foreign reserves possessed by the Central Bank of Iraq, as the dollar coverage rate for the dinar exceeds 100%, which contributes to controlling the financial market and reducing the impact of the black market for the currency, despite the price difference that reaches about 13% from the official price.” (So the CBI has not yet controlled the black market even though the correspondent banks are now conducting the transfers for outside trade as of Dec 31st 2024.)
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☹“TRUMP CANCELS EXEMPTION GRANTED TO IRAQ TO IMPORT ELECTRICITY AND GAS FROM IRAN”
(from my 02/06 Newsletter see Archive)
US President Donald Trump canceled, today, Wednesday (February 5, 2025), the exemption granted to Iraq to import electricity and gas from Iran. The memorandum signed by Trump, according to the White House and seen by Baghdad Today, with the aim of exerting maximum pressure on Iran, included “taking immediate steps, in coordination with the Secretary of the Treasury and other relevant agencies, to ensure that the Iraqi financial system is not used by Iran to evade or circumvent sanctions, and that the Gulf states are not used as shipping points to evade sanctions.” It also included, “implementing a vigorous and sustained campaign, in coordination with the Secretary of the Treasury and other relevant executive departments or agencies (the Agencies), to drive Iran’s oil exports to zero, including Iranian crude oil exports to the People’s Republic of China.”
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“AL-SUDANI ASKS THE TRUMP ADMINISTRATION TO CONTINUE GRANTING IRAQ AN EXEMPTION FROM IMPORTING IRANIAN GAS”
Prime Minister Mohammed Shia al-Sudani called on Friday on the administration of US President Donald Trump to continue exempting Iraq from importing Iranian gas after the decision to cancel it. US President Donald Trump recently cancelled the exemption granted to Iraq to import electricity and gas from Iran, as part of the new package of sanctions on Iran. (Will the Trump administration change its mind?)
The Good News:
Please remember that we can look at the bad news as the glass half empty but in reality, we also know it is half full. In the midst of any storm there is always an end and things do change. The sun eventually comes out and blue skies do appear again.
😊Actually we do have a “WOW!” in the news today. I know it seems that all the bad news can overshadow the good. In an article titled “IRAQ PREPARES TO IMPLEMENT THE FIRST HISTORIC TRANSFER OPERATION THROUGH THE INTERNATIONAL (TIR) SYSTEM” we learn that the International Road Transport Union (IRU) announced Iraq’s readiness to implement the first historic transport operation via the international road transport (TIR) system, in a historic step towards enhancing cross-border trade. During a visit last week, the Union confirmed that Iraq is close to achieving a major achievement in international trade, as it will soon witness the first transport operation under the umbrella of the internationally recognized system for customs transit, noting that this step reflects Iraq’s commitment to modernizing the trade sector and adopting international practices. We must keep our eye on the important progress too as Iraq is continuing to move ahead. I know they have setbacks but in the midst of these setbacks they always keep moving ahead. This movement is more and more aggressive now since Dec 2022.
😊Next let’s take a look at what recent annual event just occurred in Iraq. We can read about it in the article titled “BAGHDAD INTERNATIONAL FAIR: AN OPPORTUNITY FOR COMMERCIAL INTEGRATION WITH THE WORLD”. In the article it explains that the curtain fell on the 48th session of the Baghdad International Fair amidst a wide welcome from participants and visitors, as the exhibition witnessed a great turnout from local and international companies that presented their latest technologies and products with the aim of finding a foothold in the Iraqi market. If I were you I would take the time to read the entire article in the Articles Section of todays Newsletter. It is very informative how Iraq is still going about attracting investors. They are not going to give up to “Make Iraq Great Again”.
😊Next more bragging about Iraq’s large foreign reserves and how it is used to create stability in Iraq’s economy. The article is titled “FOREIGN RESERVES AND THE DOLLAR PRICE.. WHAT DO YOU KNOW ABOUT THEIR FUNCTIONS IN IRAQ?”
Experts in Iraqi economic affairs believe that the reserves of Mesopotamia and its investment portfolio, after the reserves recorded 106.7 billion dollars during the year 2024, are Iraq’s fortress and incubator in providing overall stability and protecting the national economy from external shocks that are reflected in the Iraqi balance of payments, in addition to its role in stabilizing the general level of prices internally through intervention policies in the organized money market.
Iraq ranked third in the Arab world in terms of foreign exchange reserves for the year 2024, as this reserve is considered “very large” and “reassuring” because it represents 20-40% of the volume of the issued currency.
(Okay so let me correct what this article is saying. We have read in previous articles that the reserves reached as high as 120 billion so 106.7 billion is not do great news. It shows a drawdown of the reserves. But still this number is very high and good news. Next, they already told us in previous reports that the reserves at 110 billion cover the volume of the issued currency and so why tell us today its only at 20-40% of the volume? I don’t get it? What changed or is the news just incorrect?)
QUASI SOVEREIGN WEALTH FUND: In this context, the financial advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, says that Iraq’s foreign reserves, their formation and management are considered a quasi-sovereign wealth fund (which is currently managed by a well-diversified investment portfolio in different currencies and short-term derivative investment instruments), and the aforementioned portfolio of reserves performs two basic functions at the same time.
😊Please take a look at article titled “IN LIGHT OF THE LIQUIDITY CRISIS… WHY DOESN’T IRAQ RESORT TO PRINTING MORE CURRENCY?” I think we can all learn something from this news. Iraq is facing increasing challenges due to the scarcity of cash liquidity, which negatively affects the markets and daily financial transactions. While some are looking for quick solutions to overcome this crisis, the option of printing more local currency remains controversial, given the serious economic repercussions that may result from it. Yes, if they are not careful printing more money could and probably will cause inflation just like what the Biden administration did over his four years in office in the US. You can’t print your way out of a crisis. You have to come up with real solutions and that take brains and leadership. But remember some of these remedies don’t happen overnight. They are a slow, staged implementation of a series of measures.
😊I get a kick out of articles like this one. Over the years we have seem so many like it. Seems Iraq keeps harping on the fact that so much of the monetary mass is outside the banking systems. See article titled “PRIME MINISTER’S ADVISOR PRESENTS MODEL TO ENHANCE LIBERATION OF MONETARY BLOC” The Prime Minister’s Financial Advisor, Mazhar Mohammed Salih, presented a proposal today, Saturday, that contributes to mobilizing idle funds for development projects. Saleh told the Iraqi News Agency (INA): “The presence of a large monetary bloc outside the banking system, which exceeds 85% of the total monetary issuance, constitutes a phenomenon with repercussions on the national economy.” Yes, Iraq is caught in a dilemma. Let me tell you what this dilemma is.
First point is I need to tell you that a large chuck of this 85% of the total monetary mass is outside the country not in fact hoarded by Iraqi citizens in Iraq like the CBI thinks. The US government as well as other governments have a very large chuck of it in its reserves as so does other countries. The other part is us investors. Yes, people like you and me. We account also for a very large chuck of this 85%. So how can the CBI get these dinars to come roosting back home? They must get them from us. All the measures to retrieve them from inside Iraq is not going to work. Why? Because they don’t have them. Get it?
This brings me to my second point. The only way they will retrieve these dinars is to revalue their dinar and get back on the global trading platforms. The banks will not exchange large amounts of the dinar with us until the dinar is back on FOREX. They must attract investors in their currency. They must trade the dinar again. This is only going to work if they increase its rate. Who the hell wants it at 1/6 of a penny?
But my third point is when they do, they will also have to reissue another currency to replace the three zero notes and this is called redenomination or conduct the Project to Delete the Zeros. Oh.. but we all knew this already didn’t we? But, when they do issue these newer lower denominations, they will have their increased liquidity in the banks but only the banks will then use these older three zero notes. The common, everyday circulation will be the newer lower denominations (and fils). So, for the questions of liquidity, by turning in these three zero notes will give them all the liquidity they need and finally release a very large chunk of this 85% of the total monetary mass that has been stashed in our closets in the U.S, Europe, Canada and etc. The banks will then have all the money they need for loans and business transactions. So why don’t they just do it then? In the “Bad News” section of today’s Newsletter (see above) you find out why. Yes, if you want to know what is holding up the revaluation, this is it. Pay attention to this bad news of today. Yes, it is Iran the trouble maker.
My fourth point is I have to stop and think, am I missing something here? Reading these constant streams of articles from Iraq on this subject matter of liquidity and the hoards and stashes of dinars, don’t they realize we have most of it and not the Iraqi citizens? Since they keep trying different tactics to retrieve this currency from within Iraq without any real success as only partly successful. Maybe they need to stop and think who really holds the bulk of this bloc of currency outside the Iraqi banking system or any banking system for that matter. Just saying….. Yes, it is us. We await for them to come and get it from us…. lol…lol….lol.. 😊
One last note for today’s news. Are you praying? We all should be praying now more than ever. Keep Iraq, Israel and the Trump administration in your prayers. Please don’t get upset with what the Trump administration is planning for the middle east. It is a change in thinking and it is a different approach. They tried the old approach for so long already and so how much longer do people have to suffer. Why not try something different. Let’s all pray for the success of the Trump administration in turning this situation around and so finally they can release this currency of Iraq.
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What can we as investors do right now?
- Pray and pray that nothing will mess this up….
- Be very patient….
- Do not sell your dinar….
- No more intel guru talk….
- No more NESARA / GESARA crazy talk
- Stop listening to all these idiots as they are only confusing you more and more (especially TNT and “The Big Call” idiots.)
- Don’t over speculate and set unjustified expectations
I know the path to this reinstatement and I don’t have to speculate or guess.
If you are a faithful follower of my blog, then you clearly should be able see I have NEVER misled you on the information. How can I say this? It is because I show you evidence and FACTUAL information not some make-believe fairytale bank stories, or lies that four letter agencies are talking to me, because there aren’t and I don’t care what the hell they are saying anyway. None of this ridiculous NESARA or GESARA bullshit either. Get it? Stay away from all this crap. It is an illness that has spread throughout our dinar investment community. It is easy to lie and make up stories but much, much harder to spend the time translating articles and applying them to what is really going on. Yes, giving you proof not rumors. We must stay grounded as this RV is coming to a closure and there is not much longer to wait.
Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just the FACTS!
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These prophecies are more important now than ever. They give us the strength, perseverance and hope that a better time is coming and that God’s Hand is at work behind the scenes. If you just take a second even to look around you at this past election cycle how ca you deny that God is at work. It is amazing and there is no other way that these events could have happened the way they turned out. But there is more to come, much more! Now that God has his biblical David re-elected we need to pay attention to what He does next.
God told us it will be an “hypnotic November” and turbulent until next June 2025 and so, isn’t it? Was He lying to us? Remember that these globalist have had it too good for too long and are not just going to lay down and let themselves be destroyed. They are going to fight until the very end. If all else fails the will get more and more desperate to overcome the good trying to rebuild and free our nation.
These prophecies today are powerful and I encourage everyone to listen carefully to them. Is there a connection to getting our long-awaited RV? Of course there is, and if you can’t see it yet then just wait and it will become more and more obvious to you how the crooked run U.S. administrations have corrupted Iraq and held it hostage since the 1991 and 2003 wars with the Bush, Obama and Biden administrations. But this control too is going to end and God is going to finally FREE the Iraqi people again.
From God to the PROPHET: Julie Green
“The dismantling of the establishment has only just begun.
Prophecy begins at the 17:29 mark. First one of two from Feb 2nd.
If you have been paying attention, you can already see the corruption in the United Nations, in the DEI and especially in the USAID agency. But God tells us today that this is only a drop in the bucket of what they have been doing to us and the misuse of our tax dollars. Already we see the dismantling of the Dept of Education, the audit beginnings of the U.S. Treasury, the IRS and FEMA. Oh… they won’t allocate funds for American citizens relief for the hurricane disasters, but they can spend millions on fancy hotel rooms for illegal immigrants in NYC? This just gets my goat….
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HOW DO WE KILL THE GIANTS OF DEBT, SOCIALISM AND SECULARISM?
Please, please listen VERY carefully to this prophecy. I cannot emphasize enough to spend the time to watch this one – “The Big E”. I am not saying its going to take 6-7 years to get the RV, but that the RV is part of the process along the way and will happen in the process of the prophecy fulfillment.
Do you remember these prophecies from 2007? This is our time now to fulfill these prophecies. So, let’s take a step back and rewind to review them. Then watch to see if Trump does orchestrate their fulfillment. I also believe this wiping out the debt is related to the new energy sources that are coming. In the meantime, the US will work at bringing down the cost of energy. But I believe this will only be a temporary measure until these new sources come.
Folks, I know you may be having a hard time seeing this, but all of this goes hand-in-hand with what we are looking for… the RV of the Iraqi dinar.
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THE PROPHECY OF AN UNUSUAL WINTER
I wanted to bring you the prophecy of the unusually winter and SNOW miracle and its coming to pass. This miracle is recent, yes this is the year of the fulfillment of this prophecy and we are witnessing it right now. It is a confirmation that God is still with us and working with us just as in biblical times. I often wonder why God gives us these prophecies. Is it to be a fortune teller, entertainment or for us to witness and focus on His Glory? If you pay attention to the timing of these events you will see they are much more than just unusual snow amounts in unusual places.
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WHAT WAS PRESIDENT OBAMA’S POLICY ON ILLEGAL IMMIGRATION?
Can you see a drastic change in policy of the Biden even from Obama? Does this seem so very weird to you that any president would just open up the US southern boarder? What about all the existing immigration laws? Why hasn’t anyone, as of yet, been prosecuted for breaking the law?
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BRACE YOURSELF FOR WHAT’S COMING IN THE NEXT FOUR YEARS AND……
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EX-TOP OFFICIAL CATHERINE AUSTIN FITTS: THE TRUMP ADMINISTRATION’S ROAD TO THE FUTURE
I know this is a very long video, about 45 minutes. I also know the attention span of many is less than 5 minutes. However please take the time to relax, sit back and listen to this one. It will shock you about the deep state and the well seeded establishment. One of the things that Catherine talks about is information. Informing the general public about the FACTS, then letting them make the decision rather than crooked politicians assuming to make the decisions for you. This is a democratic constitutional republic and so don’t you think the people should have some say in what goes on? How we soend our money and how we are going to live? How can they though, if the crooked and fake propaganda news media twists and turns the FACTS into propaganda. How will you get the TRUTH to decide?
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WHO IS ELON MUSK? WHY DID TRUMP HIRE HIM TO EXPOSE WASTEFUL SPENDING?
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USAID FUNNELED MONEY TO GAIN-OF-FUNCTION RESEARCH IN WUHAN LAB
Yes, the US “illegally” helped to fund this research which caused the pandemic.
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IRS PROBE: ALLEGES SPYING ON OUR BANK ACCOUNTS
Can you see that if they had the Central Bank Digital Currency (CBDC) in place already the IRS would not need permission. These CBDC tokens would essentially belong to the banking cartel. Seems every rock that is unturned shows that there is corruption under it. It’s like who cares about the US Constitution if you can get away with it? And my friends that has been part of the problem too. NO ACCOUNTABILITY!
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THE U.S. DEPT OF EDUCATION NO LONGER EXISTS.
But why was this done? Let’s take an indepth look at this today.
The United States Department of Education is a cabinet-level department of the United States government. It began operating on May 4, 1980, having been created after the Department of Health, Education, and Welfare was split into the Department of Education and the Department of Health and Human Services. Since this time period the level of education competence has declined in America, today it is at its lowest ranking lower than most countries. Out of 40 developed countries the U.S. is now ranked dead last. The department has grown from its original 1,400 employes to over 4,400 employees. It went from a budget of just a couple billion to over $79 billion today. The question today is this – Is this department really necessary in the midst of the government spending comparison to the benefit derived? Is it really necessary?
The answer to the question is overwhelmingly YES it can easily be closed! The US is not any better off than before 1980 after over 40 years since the creation of this new standalone agency, and in fact the educational level in the U.S. is now worst off than it was in 1979 when president Carter signed into law the Act creating it. In this agency today, as we all experienced the magnitude of the incompetence during the last four year of the Biden administration. Today it has become a corrupted propaganda agency to brainwash our children and has exceeded its real intent.
“Let the states run the schools”. No more “woke” ideology mandated training being pushed down from the federal govt by this agency. This was wrong and many of our families felt the impact of the brainwashing of our kids. They will suffer the consequences for generations to come. This means no more “no child left behind” crazy mandates, no more woke school text books or federal testing mandates.
Sometimes in situations like this we must remember history. Yes, history is meant to teach us lessons. So, what happened in WW2 with Hitler and the Nazi party? They went after the kids to brainwash them to hate the Jews and to be good patriotic soldiers. Basically to OBEY unquestionably!
Our kids are the key to the next generation. What will the future be like? Having two wonderful children of my own this one really gets my goat. This is why I had to speak up and write such an elaborate commentary on this topic today. Many will say this is drastic thinking and surely could never happen again, especially in America. Really? Who would ever have thought that any president would open up the U.S. borders wide open for all these third-world immigrants and criminals to come pouring in? Who would ever think the Federal government would mandate “woke” school programs for our children? But this and more has happened. It is all a disaster and factual. This horror of the last four years did occur! Why even have this agency then if it is only going to be used negatively to manipulate our kids? Why leave the risk available to future ideologies to be set in motion in our schools using this agency?
So, what is this move really all about?
Is it just about saving money, as some accuse?
A lot of Federal funding will still be available to the states in the future, but instead of a huge bureaucracy deciding on how it will be spent, the parents and local schools will decide. The government will save cost as the overhead is gone. That is all Trump is doing. No more federal mandates, as “We The People” have lost our trust in the Dept of Education and it is time for it to go. Trump is only doing what he was mandated to go by winning the election with such a high margin of victory. In the meantime, the Federal government has an opportunity to save billions in overhead and wasted costs that never trickle down or even affect the degree of the child’s education, except on negative impacts not positive. This is a brilliant move and is way overdue. Thanks Trump!
Of course, this move by the Trump Administration, will be sued in the courts by the Democrats and the Supreme Court will probably have the last say. But I believe it will be all in favor of this Trump move. Can any president just close down a cabinet level agency when it was created by an Act, which a prior president signed into law? That is the real question that is going to drive this effort to stop it. The answer to it, as far as I know is Yes, Trump, as the new president, can abolish any cabinet level position, with justification. I believe he will have plenty of justification. The cabinet agencies are there to serve the Executive Branch to run the government. Any president can change them and should be able to change them. Just as the Dept of Education was created by one president it can be abolished by another.
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FEMA SENT $59M LAST WEEK TO LUXURY NYC HOTELS FOR ILLEGAL MIGRANTS
This really get my goat…. when we watch US citizens suffer from hurricane disasters with very little FEMA support. Where is all the FEMA funds going? Well…. now you know. Remember that we didn’t have to have this illegal immigration crises so please don’t tell me to feel sorry for these homeless immigrants suffering in NYC. There has to be some rational for all this. Get it? Why create the crises in the first place? That’s my point.
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YES, ITS ALL JUST ABOUT COMMON SENSE!
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IN FIERY DEFENSE OF ELON MUSK AND DOGE. YOU CAN’T MAKE THIS STUFF UP.
We all need to know the TRUTH! These corrupt expenditures are what raises your taxes, get it? This is why our national debt is so high, get it? The national debt ballooned under the Biden administration. I am not being political. This is a FACT. So where did all this money go – Inflation Reduction Act, Infrastructure Bill, money to USAID, etc. etc.?
Why are am I doing this presentation to you today? I am presenting this because when you surf the internet, and if you should listen to the liberal democratic response to Elon Mush’s effort to find this corruption, you should understand clearly why the Trump administration is taking on this corruption in our government. Once you know the TRUTH you should see through the democrat rhetoric regardless of how you personally feel about Trump. Folks, this effort is about COMMON SENSE.
FACTS are FACTS and you can’t deny them or hide from them. Am I missing something here? By the way, by the power of the executive branch of government under the US Constitution the president can hire non-appointed consultants to do studies and this is the capacity as to how Elon Musk is working. This is not a constitutional or democratic breakdown. Why didn’t president Bush, Clinton, Obama or Biden do it. They had decades in office? Think about it!
Elon Musk is only giving recommendations to the president and nothing more. President Trump makes the final decisions and the democrats should know this. Of course they do. If they don’t, and apparently they seem not to, then who is in violation of our constitution and democracy? There is a saying – ignorance of the law is no excuse!
So, the FALSE rhetoric and narratives you are hearing from the democrats is exactly why Trump is cleaning out the corruption. The bomber pilots had a saying in WW2, when you are flying a mission and get the most flack you must be on the target! Again, I have to ask you-why don’t the democrats support this effort instead of spreading lies? What do they have to lie and bash Musk’s and Trump’s efforts so much. What are they hiding and what have they to lose? Don’t they want America to be Great Again? Just asking…..
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DEMOCRATS FREAK OUT AS ELON UNCOVERS THEIR MASSIVE MEDIA SCANDAL
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USAID: ANOTHER CORRUPT LIBERAL SLUSH FUND BITES THE DUST.
In the past I presented to you the Trump administration’s effort to clean up the DEI agency and basically tear it apart and disband it. This alone will save nearly a half a trillion dollars annually. Was the DEI really necessary in the first place? Go back and re-read my Newsletter dated January 28, 2025 on this topic of dissolving the DEI.
So now the Trump organization is hitting yet another very ‘corrupt’ government agency USAID. Maybe it did not start off that way and had good intentions when it was first organized. But who has been monitoring all the money USAID is spending over more than six decades? The annual funding is $40 Billion dollars. It has expanded out to be a huge “slush fund” to finance activist activities that are anti-American all across the globe and even within our own country, to some extent. I believe it is worth spending the time to get the TRUTH about this agency before you go off half-cocked listening to the FAKE news media on this subject.
USAID EXPOSED FOR WASTING TAXPAYER MONEY ON ‘RADICAL LEFT’ CAUSES. Of course, the radical lefties lost it when they heard this news and so now even go after the messenger Elon Musk instead of going after the real problem, why is this? Why won’t they pitch in to help with these cuts instead of hindering them? Are they actually pointing out their own corruption? Are they only pointing the figure at themselves?
When will the liberal democrats open their eyes and realize that things are not going to be “business as usual” in Washington anymore. They can either step up and help or get out of the way. Yes, you will hear all kinds of FAKE news and rhetoric from the democrats on this recent move to disband the USAID agency. What will you believe? Will it be the TRUTH or the lies. Aren’t you sick and tired of all the lies already?
Folks, this is your tax money being wasted and you should be appalled at what is going on in your own government. Everyone reading this today should take the time to write, email, text or call your congressmen and/or senators and tell them you support the Trump effort to fix this wasteful spending. Wonder why they can’t balance the budget? Go figure! It’s time to shut up, buckle down and do the dirty work no one seems to want to do except the Trump administration.
They will say and do anything to undo Trumps radical cleanup of the deep state.
Why not go to the source, the secretary of State Rubio to get the honest TRUTH & all the FACTS.
what is really taking place with the USAID.
Yet they defend a very small part of the programs.
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Pray, Pray, Pray & Pray some more!
Please try to remember to pray each and every day. The rosaries for me is my way to pray and has had a significant impact on my life. It has meant many miracles for me and my family. It can be for you too, and the Blessed Immaculate Mary asks that we pray “faithfully” each day. You can also pick your own personal prayers, as the rosary is just my choice, and I just wanted to share it with you. Just look at the past election. This is the start of God’s glory being manifested again on the U.S. Why is he so good to us in spite of the wickedness by many? It is because there are many of us who still worship him, pray and ask for our salvation. We are the prayer warriors for God. Yes, these are the people holding this country together. Will you decide to join us too?
We all know something has gone terribly wrong with our nation. A supernatural battle is taking place to determine the fate of America. In just twelve minutes a day you help bring forth a divine intervention to save our country using this book. Let us not forget to fast, meditate and pray for the salvation of America. There is an organization that is taking on this endeavor through helpful prayer guidance. This is what I plan to do. How about you?
Anyone can join the hundreds of thousands already involved in this rapidly-growing prayer movement. It’s easy to get started:
Pray the Daily Prayers To Save Our Country
Order the official prayer book, read or listen online, or print them out. Just click on the prayer book below.
A National Prayer Movement
for God’s Help
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BAGHDAD INTERNATIONAL FAIR: AN OPPORTUNITY FOR COMMERCIAL INTEGRATION WITH THE WORLD
The curtain fell on the 48th session of the Baghdad International Fair amidst a wide welcome from participants and visitors, as the exhibition witnessed a great turnout from local and international companies that presented their latest technologies and products with the aim of finding a foothold in the Iraqi market.
Most participants indicated their satisfaction with the success of their objectives at the exhibition, as they were able to conclude bilateral agreements for cooperation with local, regional and international companies.
In the same context, many Iraqi families who visited the exhibition expressed their desire to extend the exhibition period, stressing that the extension will give them the opportunity to view all the pavilions and displayed goods, which will help them to purchase the products they need from the various participating companies.
Communicate with international companies
Speaking about the importance of the exhibition in enhancing international cooperation, Abdul Salam Karim Al Shahmani, Brand Manager of the Iraqi Ports Company at the Ministry of Transport, said: “The exhibition days were a valuable opportunity to communicate with international companies from different countries.”
He added that his company was able to reach an agreement with South Korean and Pakistani companies for joint cooperation, as bilateral meetings will be organized after the exhibition to activate these agreements.
He explained that many Arab and international companies have expressed their serious desire to cooperate with Iraq and enter its market, especially in light of the ongoing developments and major projects being implemented in Iraq.
Solar energy is taking over
With the attention of visitors
On the other hand, Mohammed Shaker, head of the Baghdad Center for Energy and Sustainability, pointed out that the current session of the exhibition was distinguished by the participation of a large number of citizens who showed great interest in solar energy.
He said: “We have witnessed a remarkable turnout from citizens to learn more about solar energy systems, their efficiency and types.” He stressed that many visitors expressed their desire to purchase these systems to avoid the problems of power outages, although some of them expressed hesitation due to the lack of sufficient culture in Iraq about how to benefit from solar energy. He stressed that the exhibition is an opportunity to raise awareness of modern technologies witnessed by various countries around the world.
Software company interaction
On the other hand, Howayda Ahmed from Iraq Programming Company said: “The exhibition was a valuable opportunity for us, as we interacted with a wide audience throughout the days of the exhibition. This interaction helped us launch 7 new and advanced programs with modern technologies to organize public and private life.”
She added: “Through the exhibition, we were able to understand the needs of the Iraqi community in the technical aspect, and we interacted with visitors to create technical solutions that suit their requirements.” She pointed out that the exhibition is an important platform for communicating with the world and introducing new technologies that serve the Iraqi market.
Talents and development
The exhibition did not neglect the children’s category, as Al-Huda Cultural Foundation, which specializes in nurturing talents, organized events to discover the talents of children and youth. Zainab Nasser Hussein, the director of the foundation’s pavilion, stressed the importance of supporting and developing talents by providing opportunities for children to hone their skills. She said: “We strive to provide all the tools and programs that help children grow and develop in their fields, and we plan to involve them in specialized festivals such as the Iraqi International Children’s Festival.”
Increasing number of visitors
Citizen Ilham Saadeddin praised the organization of the exhibition, which she described as meeting the needs of all segments of society. She confirmed that she visited the exhibition repeatedly over the course of 4 days to learn about the products displayed by the companies, especially the pavilions for direct sales. She said: “The exhibition was a real outlet for the Iraqi family, as the number of visitors increased day after day, whether specialists or families.”
Understandings with international companies
Naseer Ragheb from the Japanese company “Termo King Tao” said: “The exhibition witnessed many initial understandings with several companies to cooperate and expand our activity in the Iraqi market.” He explained that the exhibition was an ideal platform for international companies to enter the Iraqi market and cooperate in various sectors, pointing to the importance of raising the level of services provided to visitors in future exhibitions to ensure greater success.
Iraqi products are comparable to imported ones
Speaking about the importance of the exhibition in promoting Iraqi products, Mohammed Hussein from the Karbala Chamber of Industry pointed out that the participating companies from Karbala were admired by visitors, especially distinguished products such as dates and their derivatives, which are in high demand in international markets. He said: “Our Iraqi products that are exported to the Gulf countries enjoy a good reputation, and with visitors’ interest in these products, we have a greater incentive to expand production.”
Expand future participation
For his part, Aqeel Al-Hamad, an economic expert, stressed the importance of expanding participation in future exhibitions to invite the best international companies. He said: “The 48th session of the exhibition showed good results, but it is necessary to expand the invitation of major international companies to expand the benefit to the Iraqi economy.” He added: “The exhibition is an important economic forum and contributes to changing the economic landscape by informing local companies of modern technologies and working to supply them to the Iraqi market in various sectors.”
Opportunity to open new markets
Al-Hamad stressed that the Iraqi labor market is witnessing remarkable growth and is considered a promising opportunity for international companies. He said: “Many companies present at the exhibition expressed their great desire to work in the Iraqi market, which represents a promising and growing market.” He pointed out that cooperation between the government and the private sector is necessary to provide the appropriate environment for foreign investment in Iraq, especially in the sectors of production, industry, agriculture, tourism and services.
Repeat participation in the future
Finally, Khaled Sultan, representative of a Kuwaiti perfume company, welcomed the extension of the exhibition period for the pavilions that witnessed a great turnout from visitors. He added: “The Iraqi audience’s interaction with our products was wonderful, which encourages us to participate again in the upcoming sessions and to a greater extent.” He stressed that the audience’s interaction with the products is a positive indicator and enhances their desire to expand their participation in the future.
Direct selling extension
The Ministry of Commerce has extended direct sales at the Baghdad International Fair until Sunday evening, in line with citizens’ desire and to give an opportunity.
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AMERICAN EYES LOOK AT “RAFIDAIN BANK”.. SMUGGLING DOLLARS TO IRAN MAY LEAD TO SANCTIONS AND “ECONOMIC COLLAPSE”
American eyes are turning towards the government-owned Rafidain Bank and demanding that sanctions be imposed on it, describing it as a “window for smuggling dollars to Iran,” while politicians and academics do not view the matter with optimism, especially since any impact on the bank will cause financial tensions within Iraq, as it is one of the most important government banks.
Republican Representative Joe Wilson, in a post on his X account, called on the US Treasury Department to impose sanctions on the official Iraqi Rafidain Bank, which he said was “smuggling huge sums of money to Iran.”
“Maximum pressure on Iran means maximum pressure on Iraq. Start with Rafidain Bank,” Wilson said, addressing the US Treasury, saying, “Stop allowing Iraqi militias and the Iranian regime to smuggle $500-600 million a month from the largest bank in Iraq,” stressing that “Trump will fix it.”
With Donald Trump in the White House, politicians and experts are warning of the danger of imposing any American sanctions on the Iraqi banking system in the coming period, especially the “Rafidain Bank”, as there is a possibility that Iraq will witness “catastrophic results” if sanctions are imposed, after the circulation of a memorandum issued by the American presidency, stressing the need to tighten the noose on Iran, followed by American political calls to stop funding to Iraqi entities and impose sanctions on banks, most notably the government-owned Rafidain Bank, which is accused by an American representative of sponsoring the smuggling of money to Iran and armed factions loyal to it.
What if sanctions are imposed?
“Imposing any American sanctions on the Iraqi banking system, the official government one, will have serious and major repercussions on the stability of the economic and financial situation in Iraq,” banking and financial expert Nawar Al-Saadi told Al-Jabal platform on Thursday, noting that “this will lead to a significant increase in the dollar exchange rate, and will also prevent many foreign investment opportunities in various sectors. Therefore, these American sanctions and threats of them will cause a near collapse of the Iraqi economic situation.”
The banking expert added that “these sanctions will have an impact on raising the budget deficit as well as the difficulty of obtaining cash liquidity to provide employees’ salaries, especially since Iraqi oil is sold and the money from the sale is placed in American banks and then transferred to Iraq. If these sanctions are imposed, America will prevent or delay sending these funds,” noting that “here, Iraq will enter a dangerous financial crisis, the most dangerous in its history, and therefore the sanctions on the Iraqi banking system are dangerous, and their results differ from imposing sanctions on some private banks, as happened previously.”
“CATASTROPHIC RESULTS”
On the other hand, the Finance Committee in the Iraqi Parliament confirmed that “catastrophic results” would occur if the United States imposed any sanctions on the Iraqi banking system.
Committee member Mustafa Al-Karawi said in an interview with Al-Jabal that “the economic and financial situation in Iraq could collapse if the United States of America imposes any sanctions on the Iraqi banking system, as this will have truly catastrophic consequences.”
Al-Karawi explained that “until now, there is no official American move to impose such sanctions on the Iraqi banking system, and what has been issued is merely a threat and intimidation, perhaps for the purpose of pressuring specific issues and files, but at the same time, these threats must be taken seriously, and Iraqi diplomacy must move to prevent such decisions that have disastrous consequences on Iraq’s financial and economic situation.”
“PUNITIVE MEMO”
On Tuesday, February 4, the White House published a presidential memorandum on US national security, which included in part tightening sanctions on Iran, as the memorandum directed to “maintain countermeasures against Iran within the framework of the Financial Action Task Force, evaluate ownership thresholds to ensure that Iran is denied all potential illicit proceeds, and evaluate whether financial institutions should adopt the Know Your Customer (KYC) standard for transactions related to Iran in order to further prevent sanctions evasion.”
Also, “take immediate steps, in coordination with the Secretary of the Treasury and other relevant agencies, to ensure that Iran does not use the Iraqi financial system to evade or circumvent sanctions, and that the Gulf States are not used as a remittance point to evade sanctions.”
A MAJOR AMERICAN SHIFT
Political analyst Aqil Abbas said, “What is happening now is a major shift in the American approach to Iraq, considering this country as part of the Iranian axis and treating it as an adversary, but in an undeclared manner.”
Abbas said in an interview with the “Al-Jabal” platform in this regard that “the presidential memorandum stated that the Iraqi banking system should be prevented from smuggling money to Iran,” noting that “in normal administrations, America does not announce something like this publicly and in a memorandum of a punitive nature, but rather communicates through political and diplomatic channels, and the pressure is from behind the scenes. Now the matter has become public, Iraq will no longer enjoy the previous advantage of a friend, to obtain exemptions regarding oil and others regarding electricity, or to work with its government to develop its ability to be independent from Iran.”
He explained that “this time Washington classifies Iraq as an ally of Iran and is going directly to economic sanctions, and this could even include the Central Bank of Iraq, and a real disaster will happen to Iraq if things go in this direction, and this is very possible.”
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COMPLEX NETWORKS AND METHODS OF SMUGGLING DOLLARS FROM IRAQ TO IRAN.. AMERICAN REPORT REVEALS THE DETAILS
An American report stated that Numbers Massive Central Bank Auctions Iraqi In selling hard currency, it raises doubts and concerns about the possibility of smuggling a large part of the currency to Iran.
The report stated that “the Central Bank’s currency sales amounted to more than $81 billion during 2024, a significant increase over 2023, when sales were nearly $41 billion.”
US President Donald Trump signed a presidential memorandum on Wednesday to take immediate action by federal agencies to prevent Iran from using the financial system Iraqi.
Iraqi economic experts say that “the country is facing a difficult test, as Baghdad It wants to meet the US sanctions, while at the same time seeking to maintain the stability of the country’s economy and not plunge it into new crises.”
According to the report, “Iran is exploiting the financial system in Iraq In order to circumvent international sanctions, and find an important outlet to obtain hard currency and smuggle it to Tehran.
Professor of International Economic Relations, Abdul Rahman Al-Mashhadani, confirmed that “exploitation of…Iran For the Iraqi financial system, it is a problem that we have warned about for years,” noting that “there are a set of methods that are followed by IranIn Iraq, which is clearly evident in the trade balance that is in Tehran’s favor, as it exports Baghdad”It is worth less than a billion dollars to this neighboring country.”
Republican Representative Joe Wilson revealed that Trump issued a directive calling on the Treasury Department and other US agencies to take immediate steps to ensure that the financial system is not used. Iraqi before Iran In order to evade or bypass sanctions.
He also directed that the Gulf countries should not be used as transshipment points in order to evade sanctions.
Wilson explained in a post on the X platform, which he attached to a picture of the decision signed by Trump, that these steps should ensure that it is not used. Iran For the financial system Iraqi To evade or bypass sanctions, and not use the Gulf states as transshipment points for Tehran.
Academic and economics professor Nabil Al-Marsoumi said, “Iran officially exports about $12 billion to Iraq, and all of these are revenues generated in dollars for Tehran,” noting that “these Numbers It only reflects what is happening on the trade front, but there is a lot of money being smuggled through complex networks.”
Al-Marsoumi agrees that “there is a group of importers, banks, and money transfer offices that form networks that rely on fabricated documents, whether in quantity or value, in order to transfer billions of dollars annually,” stressing that “there are two types of dollar smuggling in Iraq, one to bring hard currency into the Iraqi market, and the second to smuggle it back to Iran.”
In August 2023, the National Security Agency announced Iraqi In a statement, “The most prominent currency smuggling networks were overthrown, which included a group of defendants who carried out suspicious financial and banking activities and who admitted to using fictitious companies that carried out commercial activities as a cover for currency smuggling operations outside the country.”
And you need Iran to currency Dollar In order to stabilize its deteriorating economy, which has been severely affected by US sanctions, while the troubled Iranian currency has lost much of its value.
The mechanisms followed by Tehran in Iraq Official institutions such as the Central Bank, or private banks, some of which are fronts for political parties,” according to what was confirmed by MP Jamal Koujar, a member of the Parliamentary Finance Committee.
To ensure compliance with US standards on money laundering and sanctions on Iran, more than 20 Iraqi banks have been banned from making dollar transfers, but they are still operating in Iraq Using the dinar.
“Among the most prominent methods followed by,” Koger said, Iran “By exploiting the commercial sector, which provides Tehran with the goods, the invoices are inflated. For example, a deal may be worth one million dollars, but on paper it becomes worth four million dollars,” he said, noting that “the second method that has begun to spread is the establishment of Iranian factories inside Iraq, and their products are sold in the market, and the revenues are transferred to Iran through specialized networks.”
Some of the cash is even sent directly by individuals crossing the border into Iran, especially with border crossings being lax in tracking or preventing currency smuggling.
Professor of International Economic Relations, Abdul Rahman Al-Mashhadani, said, “The private sector…Iraqi Which imports billions from Iran, usually depends on collecting Dollar From the parallel market, through specific exchange networks or even directly from individuals,” stressing that “these financial transactions with Iran It is usually not done through the Central Bank, especially after the electronic platform was imposed in an earlier period.”
Al-Mashhadani pointed out that “there is information confirming that there is counterfeit Iraqi currency being printed in Iran, and it is being pumped into the Iraqi market to obtain dollars.”
He explained that “there are armed factions in Iraq, some of which have established investment companies that transfer billions of dollars directly to Iran.”
“Despite talk of Iraqi-Iranian exchanges using the Iranian toman, the bulk of the deals are done in US dollars,” Al-Mashhadani confirmed.
Al-Mashhadani asked, “How are goods worth about $25 million purchased daily from Iran?”
Among the means by which Tehran exploits Baghdad, according to Al-Mashhadani, are “transportation operations or the sale of Iranian oil as Iraqi oil, where the exchanges take place in territorial waters in a move to circumvent international sanctions.”
Al-Mashhadani defined the mechanism as “fabricating certificates of origin and export for this oil as being from Iraq, and it is re-exported to countries in East Asia, which resell it.”
The United States announced yesterday, Thursday, the imposition of financial sanctions, the first since the inauguration of President Donald Trump, targeting an “international network” accused of transporting Iranian oil to China to finance Tehran’s military activities.
The US Treasury Department said in a statement that “the sanctions target an international network that facilitates the transfer of millions of barrels of Iranian crude oil, worth hundreds of millions of dollars, to China.”
In early 2023, the Central Bank announced Iraqi Adopting an electronic platform to monitor sales movement Dollar And money laundering operations.
Academic and professor of economics, Al-Marsoumi said, “The mechanisms that were put in place during the past period to curb the smuggling of currency to and from Iraq did not succeed, especially the electronic platform.”
He added, “In some Iraqi markets, transactions are conducted in Iranian tomans, but these amounts are exchanged again domestically.”Iraqi In dollars.
At the beginning of this year, the Central Bank stopped Iraqi Working with the mechanisms of the electronic platform related to selling the dollar, while he pointed out the continuation of the mechanism for granting Dollar For airport travelers.
Al-Marsoumi stated that “the platform did not achieve its intended purpose, as the Central Bank’s sales increased from Dollar During the period following the opening of the platform, importers were simply submitting fabricated invoices, and even if they were tracked in a proper manner, their forgery could not be detected.”
Koger agrees that “the electronic money transfer platform has not been able to stop the smuggling of hard currency from Iraq To Iran, networks are active in transferring Dollar Cash in parallel markets.
Al-Mashhadani feared that “it will reach…Baghdad The effects of international sanctions on Iran, including Washington’s recent decisions to stop importing Iranian gas for the benefit of Iraq.
He said, “The economy Iraqi He may be shocked by these decisions, especially since Iraq It depends on Iranian gas to generate electricity, and a crisis could occur if an alternative to Iranian gas is not found.
The electricity issue is sensitive in Iraq, as its population of 43 million people suffer from frequent power outages that may last up to 10 hours daily. The situation is made worse by the high temperatures that reach 50 degrees during the summer.
If the sanctions are expanded to include the banking system, it will lead to more economic pain, especially since 28 banks are subject to sanctions out of 62 banks in Iraq.
Kocher believes that “Iraq will not be able to sever its economic ties with Iran, especially with the heavy reliance on gas imports to generate electricity for the Iraqi provinces.”
He said, “The Iraqi government must talk to the American authorities, in order to continue taking exceptions to ensure the continued flow of gas.”
The United States has always given Iraq Exemptions from the application of sanctions by paying money to Iran for electricity supplies, provided that Tehran uses the money only for “non-sanctionable transactions” such as the purchase of humanitarian goods, including food and agricultural products.
On Wednesday, Trump canceled the exemption granted to Iraq to import electricity and gas from Iran He also decided to prevent Tehran from “exploiting Baghdad’s money.”
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FOREIGN RESERVES AND THE DOLLAR PRICE.. WHAT DO YOU KNOW ABOUT THEIR FUNCTIONS IN IRAQ?
Experts in Iraqi economic affairs believe that the reserves of Mesopotamia and its investment portfolio, after the reserves recorded 106.7 billion dollars during the year 2024, are Iraq’s fortress and incubator in providing overall stability and protecting the national economy from external shocks that are reflected in the Iraqi balance of payments, in addition to its role in stabilizing the general level of prices internally through intervention policies in the organized money market.
Iraq ranked third in the Arab world in terms of foreign exchange reserves for the year 2024, as this reserve is considered “very large” and “reassuring” because it represents 20-40% of the volume of the issued currency. The foreign reserves of any country also contribute to maintaining the value of the local currency and liquidity to meet international financial obligations, in addition to financing domestic projects and reassuring investors, in addition to diversifying investment portfolios.
The cash reserve is defined as the total deposits and bonds of foreign currencies held by the central banks and monetary authorities in the country with the aim of supporting the local currency and paying the debts owed by the country. The cash reserve usually consists of several elements, which are foreign currencies, such as the dollar, the euro, the Japanese yen and other currencies, in addition to gold.
QUASI SOVEREIGN WEALTH FUND
In this context, the financial advisor to the Iraqi Prime Minister, Mazhar Mohammed Salih, says that Iraq’s foreign reserves, their formation and management are considered a quasi-sovereign wealth fund (which is currently managed by a well-diversified investment portfolio in different currencies and short-term derivative investment instruments), and the aforementioned portfolio of reserves performs two basic functions at the same time.
Saleh reviewed these two functions by saying to the “Al-Jabal” platform: “The first is to protect macroeconomic stability, i.e. the stability of the general level of prices internally by controlling the levels of local liquidity in line with the real flows of goods, services and benefits that are financed by part of these reserves and what results from them and are called here international reserves, by influencing the control of growth in the money supply through intervention in the money market by withdrawing excess liquidity by exchanging it for foreign currency, in order to finance foreign trade for the private sector in particular, indicating that these activities are called in monetary policy (monetary sterilization) using a mechanism called open market operations, which is the operational (quantitative) aspect of the objectives of monetary policy called operational objectives to combat the growth of monetary inflation rates and stabilize cash flows.”
The second is to use those foreign reserves in part by intervening in the monetary market to provide (price) stability in the exchange market by adhering to the fixed and stable exchange rate (signals) that the regular foreign currency exchange market is the basis of that market and the leader of the stability of the exchange rate itself, according to Saleh.
The advisor stressed in his statement to “Al-Jabal” that there is a specialized central administration for these reserves, as the foreign portfolio is subject to highly precise investment standards in adopting short-term international financial instruments that generate interest returns, including investing in treasury bonds of central countries in the world that are guaranteed with high-rated returns, but are semi-liquid, and this is what distinguishes the sovereign wealth fund from stability funds. I mean here the foreign reserves portfolio, which requires it to be semi-highly liquid to confront fluctuations in the national balance of payments when needed.
Cash gold, which may constitute more than 10% of these reserves, is a safe haven within the aforementioned investment portfolio of the reserves under study against the risks of currency fluctuations and the interest that makes up the portfolio itself, since the gold asset cycle is a long-term and relatively stable cycle, as monetary authorities can issue gold bonds guaranteed by the reserve gold itself and with interest when needed, and these are globally desirable bonds, according to the Iraqi government advisor.
Saleh added that “Iraq currently enjoys foreign reserves that are considered high in terms of efficiency, especially in terms of their coverage of the broad money supply, which covers 75% or more, which is the global measure required to measure the efficiency of foreign exchange reserves in maintaining stability for the national economy, in addition to the fact that the aforementioned foreign reserve covers approximately 15 months of import trade, which is a measure superior to the global measure that indicates 3 months of trade sufficiency.” Thus, “Iraq’s reserves and investment portfolio are Iraq’s fortress and incubator in providing overall stability and protecting the national economy from external shocks that are reflected in the Iraqi balance of payments, in addition to its role in stabilizing the general level of prices internally through policies of intervention in the organized money market.”
Gives Iraq the ability to control the exchange rate of the dinar
In contrast, Professor of International Economics, Nawar Al-Saadi, acknowledged that “these reserves go beyond being mere numbers registered with the Central Bank. They represent the foundation on which the state relies in confronting economic crises, whether they result from a decline in oil prices, which is the main source of revenue, or due to turmoil in global financial markets that may affect cash flows and investments.”
Al-Saadi added in his interview with Al-Jabal, “Having strong foreign reserves gives Iraq the ability to control the exchange rate of the dinar, which reduces its violent fluctuations that may lead to high inflation rates and an increase in the cost of living for citizens. These reserves are also used to finance vital import operations, especially for basic commodities such as food and medicine, which ensures the continued flow of these materials to Iraqi markets without being significantly affected by external circumstances.”
He added, “The level of foreign reserves directly affects Iraq’s credit rating and the confidence of international financial institutions in the local economy. The higher these reserves are, the more confident investors are, which enhances the chances of attracting foreign capital and supports investments in non-oil sectors, which is what Iraq needs to reduce its dependence on oil as the sole source of revenue.”
He believed that “having large reserves alone is not enough to ensure economic stability, as they must be accompanied by sound financial and economic policies. These reserves cannot be considered a resource that is consumed merely to cover the financial deficit, calling for “investing them wisely to enhance economic development and support productive sectors, because using reserves in an ill-considered manner may lead to their depletion over time, which exposes the country to great risks when unexpected economic shocks occur.”
Al-Saadi concluded his speech by saying, “Iraq needs a clear strategy for managing its foreign reserves, so that they are employed in a way that achieves a balance between monetary and financial stability on the one hand, and supporting development and investment projects on the other hand. Maintaining these reserves at safe levels enhances the Iraqi economy’s ability to withstand crises, and gives decision-makers more room to maneuver in facing future economic challenges.”
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AL-SUDANI ASKS THE TRUMP ADMINISTRATION TO CONTINUE GRANTING IRAQ AN EXEMPTION FROM IMPORTING IRANIAN GAS
Prime Minister Mohammed Shia al-Sudani called on Friday on the administration of US President Donald Trump to continue exempting Iraq from importing Iranian gas after the decision to cancel it.
US President Donald Trump recently cancelled the exemption granted to Iraq to import electricity and gas from Iran, as part of the new package of sanctions on Iran.
Al-Sudani said in an interview with Asharq Al-Awsat, “The previous (US) administration gave us an exemption from these sanctions,” adding that “our government did not just request an exemption, but we also took the initiative to invest in the associated gas.”
He added, “Iraq has a clear vision. In 2028, gas imports will end, and there will be clear energy independence,” stressing that “in the end, we need this exception to continue throughout this period.”
Al-Sudani also pointed out that Iraq has begun “the process of linking energy with neighboring countries in order to cover our needs, and this is part of the concept of integration that we seek with our brothers.”
He continued by saying, “The connection with Jordan has been implemented and currently western Iraq is being supplied with energy. It is hoped that during this year the connection with Kuwait and the Gulf group will be completed. We have also started contracting for the connection between Iraq and Saudi Arabia. The connection with Turkey has also been implemented and we have started receiving energy and as a result from the European Union.”
The Prime Minister continued, “The Iraqi government has found solutions, and we certainly expect our friends in the United States to understand the government’s plans so that they will allow us to continue to use Iranian gas until our projects are completed, in which any imported gas will be dispensed with.”
For many years, Iraq has relied on importing electricity and gas from Iran, especially during the peak of summer, and thus relies on the ongoing American exemptions, which are issued more than once each year.
Recently, Iraq has moved to import gas from Turkmenistan, and it will also pass through Iranian pipelines, but it has not yet been implemented due to logistical and financial problems.
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AL-SUDANI’S ADVISOR REBUKES CITIZENS FOR STORING MONEY AT HOME AND CALLS FOR INVESTING IT
“Support the national economy
Mohammed Sahib Al-Daraji, the technical advisor to the Prime Minister, confirmed today, Thursday, that the volume of investments in Iraq amounts to about 60 billion dollars, while he pointed out that there is a large cash mass among citizens outside the banking system, which makes it economically useless if it remains stored in homes, calling for it to be converted into investment projects that contribute to transforming it into assets that support the national economy.
Al-Daraji said in a statement to the official agency, followed by the 964 network , that “Iraq’s gross domestic product exceeded $260 billion, which makes the ratio of external debt compared to the domestic product at a very low level, which opens the door to a new phase of external financing, but with studied conditions,” noting that “Iraq’s external public debt witnessed a significant decrease, as it fell from $20.9 billion to $9.8 billion.”
He stressed, “The importance of funding being directed towards productive projects capable of paying off their debts on their own, rather than focusing on consumer or ill-considered projects.”
Regarding current investments, Al-Daraji pointed out that “the volume of local and foreign investments in Iraq amounts to about 60 billion dollars, most of which are in the real estate and housing sector, which is a good thing,” stressing “the necessity of strengthening the role of the Iraqi investor and supporting him to diversify investments.”
He pointed out that “there is a large cash mass held by citizens outside the banking system, which makes it economically useless if it remains stored in homes,” calling for “transferring this money to investment projects that contribute to transforming it into assets that support the national economy and enhance sustainable development.”
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IRAQ PREPARES TO IMPLEMENT THE FIRST HISTORIC TRANSFER OPERATION THROUGH THE INTERNATIONAL (TIR) SYSTEM
The International Road Transport Union (IRU) announced Iraq’s readiness to implement the first historic transport operation via the international road transport (TIR) system, in a historic step towards enhancing cross-border trade.
During a visit last week, the Union confirmed that Iraq is close to achieving a major achievement in international trade, as it will soon witness the first transport operation under the umbrella of the internationally recognized system for customs transit, noting that this step reflects Iraq’s commitment to modernizing the trade sector and adopting international practices.
A specialized workshop was also organized, focusing on the importance of the United Nations international agreements, such as the TIR Convention and the Dangerous Goods Convention, highlighting the role of these agreements in simplifying trade, enhancing security and reducing accidents.
The Federation stressed the importance of cooperation between the public and private sectors to ensure smooth implementation of the two mentioned systems, which contributes to enhancing Iraq’s position in regional and international trade.
In conclusion, the Federation stressed that this step represents a new beginning for Iraq in the field of transportation and international trade, with the adoption of the best international practices to enhance efficiency and economic growth.
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CONTROVERSY OVER THE DOLLAR IN IRAQ.. EXPECTATIONS OF A PRICE INCREASE AND THE GOVERNMENT REASSURES!
The exchange rate is volatile and the dollar is rising against the dinar, which is putting the Iraqi economy in great challenges, raising fears of a possible financial crisis. While the government confirms the stability of monetary policy, experts warn of the impact of financial restrictions and increased spending on market stability, stressing the need for urgent reforms to ensure the sustainability of the economy. The advisor to the Iraqi Prime Minister, Dr. Mazhar Muhammad Salih, said that “the government is not currently considering amending the exchange rate equation or what is known as “monetary adjustment”, denying the speculations circulating in this regard. Salih explained, in an interview with (Al-Mada), that these rumors are not based on realistic foundations within the current monetary policy, stressing that the monetary sector in Iraq enjoys clear stability.
Salih pointed out that “this stability is due to the strong foreign reserves possessed by the Central Bank of Iraq, as the dollar coverage rate for the dinar exceeds 100%, which contributes to controlling the financial market and reducing the impact of the black market for the currency, despite the price difference that reaches about 13% from the official price.” The advisor explained that foreign reserves are a major tool for controlling the level of cash liquidity within Iraq through open market operations, which is one of the mechanisms adopted by monetary policy to control the economy. He also confirmed that the Central Bank meets more than 95% of the local market’s needs for dollars, at an exchange rate of 1,320 dinars per dollar, which enhances the stability of the monetary market.
Regarding financial policy, Salih confirmed that it has effective tools to control expenditures and increase revenues without compromising With the stability of the macroeconomy, stressing that resorting to financing the fiscal deficit through inflation, or what is known as inflationary taxes, is one of the worst financing policies due to the price fluctuations it causes and the negative repercussions on the purchasing power of the general budget and citizens’ cash income.
Member of the Parliamentary Finance Committee, Hussein Mounes, had warned of the danger of expanding government spending, stressing that the operating budget is largely consumed on luxury issues, which necessitates reducing it in the 2025 budget.
Mounes explained that the Ministry of Finance faces major challenges in providing salaries, as it enters a state of financial warning on the twentieth of each month, due to limited tax revenues, as only 3 trillion dinars are collected annually out of an expected 9 trillion. He also pointed out that there are daily transfers of up to $250 million, but tax revenues do not reflect this amount, which constitutes an imbalance in the financial system.
Mounes expressed his concerns about the lack of a clear economic plan to confront any potential decline in oil prices, stressing that Iraq could face a serious financial crisis if oil revenues decline, which could push the government to raise the exchange rate again as a necessary measure.
In the same context, economic expert Ziad Al-Hashemi criticized the measures taken by the government and the Central Bank, considering that they were not sufficient to achieve stability in the dollar exchange rate. He pointed out that “the ongoing gap between the official rate and the parallel market continues to negatively affect the Iraqi economy,” stressing that the government and the Central Bank have not been able to achieve the target exchange rate of 1,300 dinars per dollar over the past year and a half, which has led to significant economic losses.
Al-Hashemi explained to Al-Mada that “the Iraqi financial system suffers from the concentration of foreign transfer operations in a limited number of banks, as the state relies on only four to five banks through the system of strengthening balances using foreign correspondent banks,” which he described as “a bottleneck that threatens the stability of the markets.” He stressed that the lack of banks capable of executing foreign transfers leads to a decline in the amount of dinar available to the government to cover salaries and subsidies, and contributes to a decrease in the supply of the dollar, which prompts traders to resort to the parallel market, thus increasing its value.
Al-Hashemi criticized the slow response of the Central Bank of Iraq in expanding the base of banks that can execute foreign financial transfers, considering that this delay leads to the continuation of the exchange rate crisis. He also warned of the potential repercussions of US restrictions and sanctions on some Iraqi banks and economic entities, noting that any new measures by the US Federal Reserve may increase the level of demand for the dollar and raise its prices. Al-Hashemi stressed the urgent need for urgent banking reforms, calling for taking more effective measures to ensure the stability of the exchange rate and prevent the exacerbation of the economic crisis in the country.
WHY IS THE DOLLAR STILL RISING?
Dr. Nawar Al-Saadi, professor of international economics at the University of Bucharest in Romania, believes that one of the main factors behind the rise in the value of the dollar against the Iraqi dinar is the continued US restrictions on dollar flows to Iraq. He explained that the US Treasury Department imposed strict control measures on financial transfers, which made obtaining dollars more complicated and forced Iraqi banks to comply with strict auditing requirements, which led to a reduction in the supply of dollars in the official market.
Al-Saadi added to (Al-Mada) that “the demand for the dollar in Iraq is witnessing a continuous increase, especially from traders and importers who need hard currency to complete their foreign trade transactions. This increasing demand has prompted many of them to resort to the parallel market, where prices are much higher than the official price, which has exacerbated the gap between the two markets.”
The problem did not stop there, as Al-Saadi pointed to the phenomenon of smuggling dollars to neighboring countries, especially those suffering from international sanctions, which imposes additional pressure on the Iraqi exchange market. He explained that a large portion of the available dollars are smuggled instead of remaining in the local market, which further complicates the economic crisis.
Regarding the procedures followed by the Central Bank of Iraq, Al-Saadi explained that “the bank has pumped large quantities of dollars through the currency sales window, but the problem does not lie only in the availability of the currency, but in the mechanism for distributing it and ensuring that it reaches the parties that actually need it.” He also stressed the need to improve the efficiency of the Iraqi banking system and accelerate the procedures for legitimate financial transfers to reduce the bureaucratic complications that affect the flow of hard currency.
Al-Saadi pointed out that “the current economic crisis is not limited to monetary aspects only, but extends to broader structural challenges, which requires the implementation of comprehensive economic reforms, including reducing reliance on the dollar and enhancing local production.”
He added that the continued gap between the official and parallel price may exacerbate the crisis, which makes expectations of a rise in the dollar against the Iraqi dinar valid under the current circumstances.
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IN LIGHT OF THE LIQUIDITY CRISIS… WHY DOESN’T IRAQ RESORT TO PRINTING MORE CURRENCY?
Iraq is facing increasing challenges due to the scarcity of cash liquidity, which negatively affects the markets and daily financial transactions. While some are looking for quick solutions to overcome this crisis, the option of printing more local currency remains controversial, given the serious economic repercussions that may result from it.
The Iraqi government faces challenges in managing cash liquidity in dinars, as it suffers from a chronic shortage of this currency, which affects its ability to meet its financial obligations to pay employee salaries, repay debts, and finance projects.
Since the 1990s, and specifically during the period of the economic blockade, Iraq has witnessed hyperinflation in its national currency (the dinar). This situation prompted the ruling regime at the time to take the decision to print the currency locally.
After 2003, the previously circulating currency was disposed of, new denominations with updated designs were issued, and the exchange rate of the Iraqi dinar was fixed against the US dollar based on a decision by the then civil governor of Iraq, Paul Bremer, who in turn announced the details of the new currency and its official exchange rate.
Iraq currently has a range of paper denominations that cater to various daily transactions, starting from small denominations such as 250, 500 and 1,000 dinars, all the way to larger denominations such as 5,000, 10,000, 25,000 and even 50,000 dinars that are used in major transactions.
Where is the Iraqi currency printed?
On January 19, 2025, the Central Bank of Iraq revealed new security features on circulating banknotes, with the aim of reducing counterfeiting and protecting the national currency.
According to economic observers, the Central Bank has included these signs in the new banknotes to raise awareness among the public, companies and banks alike.
A source in the Central Bank of Iraq spoke about details related to the process of printing Iraqi banknotes, indicating that “the currency was previously printed in Switzerland, but the printing is currently done at the British Institute in London,” which is considered one of the most prominent institutions specialized in printing currencies globally.
In an interview with Al-Jabal platform, the source explained that “Iraqi banknotes are manufactured according to high-quality specifications, aiming to prevent their rapid damage and ensure their ability to withstand daily use for long periods, through the use of modern materials and technologies that increase their lifespan.”
According to the same source, “the cost of printing one banknote ranges between 4 and 5 US cents, a cost that includes the use of the latest security technologies to prevent counterfeiting,such as watermarks, optically variable inks, and security threads.
In contrast, the Central Bank confirms that currency printing operations are subject to strict standards to ensure their quality and durability. The design of banknotes is also updated from time to time according to technical and security needs, to ensure the currency is protected from counterfeiting and improve its technological properties.
An option on the government’s table
In addition, Mazhar Mohammed Saleh, the economic advisor to the Iraqi Prime Minister, says, “Financing the deficit in the general budget through the issuance of cash is a cautious approach, but it remains a possible option in light of the availability of high foreign reserves, capable of covering the money supply of the national currency by no less than 75%.”
Saleh added, during his interview with the “Al-Jabal” platform, that “resorting to this method is temporary and periodic, as 40% to 50% of the issued cash is directed towards internal transactions, not just external transactions, which makes it an available option when needed, provided that the coverage rate remains high according to the mentioned standards.”
Saleh continues his talk by saying: “The monetary policy in Iraq is proceeding according to balanced standards with the fiscal policy, and is consistent with the cycle of oil assets. In the event that oil prices fall to low levels, it is possible to resort to financing the deficit by borrowing from banks and deducting the borrowings from the monetary issuance authority, provided that the coverage equation is maintained until the end of the cycle of falling prices.”
Saleh points out that “the decline in oil prices to below their real value in energy markets is not unusual, and it happens sometimes, which requires dealing with it through balanced monetary and financial mechanisms to ensure the stability of the national economy.”
It is noteworthy that the Central Bank of Iraq issued, in 2018, a second edition of banknotes in denominations (25,000, 10,000, 1,000, 500, 250).
The Central Bank also previously added some technical and technological updates to the 2003 issue for all types of local currency, except for the (50) dinar category, which was withdrawn from circulation in 2015, while at the end of 2015 it issued the (50,000) dinar category to complete the current series in circulation.
Pros and cons of printing
In this regard, financial expert Jalil Al-Lami said, during his interview with Al-Jabal platform, that “the issue of printing local currency is one of the most sensitive economic policies, given its direct impact on the financial and economic stability in the country.”
Iraq, according to Lami, sometimes faces cash liquidity crises due to economic and political challenges. Technically, it can resort to printing currency to cover the deficit, but this does not depend only on technical capacity, but is subject to complex economic determinants such as the level of foreign exchange reserves, the monetary policy of the Central Bank of Iraq, and general economic stability.
Al-Lami added that “the Central Bank of Iraq, as the only body authorized to issue the currency, adheres to strict standards to ensure that it does not harm the national economy,” warning against “unstudied monetary expansion, which could lead to dire economic consequences.
Regarding the positives of printing currency, Al-Lami reviewed some of the potential positives of printing currency, including providing quick cash liquidity, which helps finance salaries and projects and pay urgent obligations, in addition to supporting the economy in crises such as wars or epidemics, in addition to stimulating local demand by increasing the money supply.
Regarding the negatives of printing currency, Al-Lami believes that it may lead to hyperinflation, as when currency is issued without real economic cover, it leads to an uncontrolled rise in prices, in addition to a loss of confidence in the national currency, in addition to the deterioration of the exchange rate as a result of the increase in the money supply without sufficient economic support, and the gap between wages and prices may widen.
Al-Lami suggested a number of sustainable solutions that could help Iraq confront liquidity crises without resorting to printing currency, including “reforming the tax system by improving tax collection and reducing tax evasion to increase government revenues and diversify sources of income, in addition to internal and external borrowing and reducing unnecessary expenses.”
Other proposals, according to Al-Lami, include “enhancing foreign investment and reforming the financial and banking sector.”
The former governor of the Central Bank, Mustafa Makhif, announced in 2022 that “the bank is working on completing a new denomination worth 20,000 dinars based on a study and comparative research with neighboring countries, and is working on completing the shape of the note and it will be announced in the coming days.”
At the time, he also spoke about the “issue of deleting zeros from the local currency,” and stressed that “the process of deleting zeros from the currency requires enacting a law and making some amendments.”
Numbers and statistics
The Iraqi government decided to change the exchange rate of the Iraqi dinar against the US dollar in 2020, as the price was adjusted from 1,182 dinars per dollar to 1,450 dinars per dollar.
This decision sparked widespread popular discontent, especially after the prices of food and all commodities in the markets witnessed a significant increase, and this change was confirmed in the federal budget approved by the Iraqi Council of Representatives on March 31, 2021.
Data from economist Nabil Al-Tamimi indicate that printing any currency clearly contributes to increasing inflation, as the increase in the volume of cash in circulation leads to an increase in prices. Therefore, countries are keen to avoid printing money to cover the deficit in their budgets except in limited and studied proportions, through which they try to achieve a balance between the volume of cash circulation and economic activity, i.e. the gross domestic product, which is known as natural inflation.
Al-Tamimi continued, in his interview with Al-Jabal platform, saying: “In some cases, monetary authorities may resort to withdrawing part of the cash and drying up the markets to control inflation, despite the economic slowdown that may result from that.”
According to Al-Tamimi, “Increasing the volume of printing leads to an increase in demand for hard currency, especially in countries that depend on importing goods and services, such as Iraq. The more local currency in circulation in dinars, the higher consumer spending, and most of this spending goes to imported goods and services that are paid for in foreign currency, which leads to an increase in demand for the dollar.”
In a free market, Tamimi said, “this could lead to fluctuations in the exchange rate, but if the central bank intervenes through a currency auction, the daily sales volume will increase to maintain monetary stability.” Data indicates that the Iraqi central bank’s dollar sales have reached about $300 million a day, compared with about $180 million a day in previous years.
He added, “The Central Bank of Iraq relies on its foreign currency reserves on government revenues from oil sales, which change according to the fluctuations of the oil market, as the reserve ranges between 50 and 100 billion dollars. To ensure monetary stability, the Central Bank’s accounts must be based on the minimum reserve, i.e. 50 billion dollars, to cover imports and control local demand for hard currency at approximately this level.”
Al-Tamimi concluded his speech by saying, “The period from 2003 to 2019 witnessed a relatively balanced monetary policy regarding printing currency, as the total issued currency during this period amounted to about 55 trillion dinars. However, the monetary policy during 2020 and 2021 led to clear inflation, with the volume of issued currency doubling to more than 100 trillion dinars. This was reflected in a significant increase in prices, as the inflation rate reached about 15%.”
Many years ago, the Director of Issuance at the Central Bank, Ihsan Al-Yasiri, said, “The Central Bank of Iraq prints a thousand 25,000-dinar notes in the most reliable international companies at a cost of less than $60,” noting that “the bank will not spend a large amount of cash to print the new banknotes, because their cost is low.”
(Yes, so you just heard it “the bank will not spend a large amount of cash to print the new banknotes, because their cost is low.” So no more excuses as to why you can’t do the Project to Delete the zeros due to a high cost of printing the new lower denominations, which we know are partly already printed anyhow.)
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PRIME MINISTER’S ADVISOR PRESENTS MODEL TO ENHANCE LIBERATION OF MONETARY BLOC
The Prime Minister’s Financial Advisor, Mazhar Mohammed Salih, presented a proposal today, Saturday, that contributes to mobilizing idle funds for development projects.
Saleh told the Iraqi News Agency (INA): “The presence of a large monetary bloc outside the banking system, which exceeds 85% of the total monetary issuance, constitutes a phenomenon with repercussions on the national economy.”
He explained that “this is a phenomenon deeply inherited from the country’s economic history, and is linked to the citizen’s confidence in the banking systems and long years of instability, which created a state of tendency towards widespread hoarding, as this behavior involves the demand for cash in liquid form outside banks accompanied by a lack of confidence in this monetary behavior.”
He added, “This leads to two main problems, the first is the presence of idle money that does not contribute to the completion of the income cycle, which affects the balance between savings and investment, and thus limits the potential for economic growth. The second problem is the spread of credit operations outside the banking system, where this money is lent at high interest rates of up to five times the official bank interest rates, which increases the cost of economic financing and leads to significant financial risks.”
Saleh presented “a financing model that combines equity (shares) and credit rights (bonds), so that the lender is treated as a shareholder, with a minimum guarantee of losses through insurance companies.”
He pointed out that “this model, which is common in global financial markets, can contribute to mobilizing idle money for development projects, creating a new investment culture that supports the national economy.”
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Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,
Just FACTS!
Disclaimer: All information in this newsletter is not intended for investment decisions / purposes. Mnt Goat is not a financial analyst, planner, banker, attorney or associated in any role with giving out professional investment advice.
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Mnt Goat
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