The Framework Announces The Move Towards Collecting Parliamentary Signatures To Change The Dollar Exchange Rate
The deputy of the coordination framework, Ibtisam Al-Hilali, revealed, on Tuesday, the framework’s move to collect parliamentary signatures to restore the dollar exchange rate to its previous rate, surprising at the government’s insistence on maintaining the exchange rate, especially with the recovery of oil markets during the past weeks.
Al-Hilali said in a statement to “The Information”, “The coordination framework is moving towards collecting parliamentary signatures in order to restore the exchange rate of the dollar against the Iraqi dinar or reduce its current price.”
She added that “the framework’s movement in this regard is still continuing until the will of the Iraqi people, who were affected by the high exchange rate of the dollar, is achieved,” noting that “the government raised the exchange rate in order to supplement the 2012 budget, and now it has obtained additional funds due to the high oil price.”
And the representative of the State of Law coalition, Firas Al-Maslmawi, confirmed in a previous statement, that his coalition and a number of members of Parliament within the same direction will not allow the budget to be passed for the current year except after a reduction in the dollar exchange rate against the dinar. link
The key to this article is that parliament will not approve the 2022 budget except after reducing the dollar exchange rate against the dinar. IMO: To reduce the dollar rate against the dinar is to reinstate the Iraqi dinar World-Wide.
Remember, this is just grandstanding. A few things to think on:
Parliament does not set rates. CBI does.
It does not matter to us what the dinar rate is in Iraq. The US rate will be set in accordance with treaty and 50 year oil future projections.
The CBI asserted its right as the sole authority in setting rates just a few weeks ago.
Parliament members, via their own news releases for the past several years, have proven that they posess the biggest bag of bull on the planet. They make US politicians look logical and reasonable. And that is saying a lot.
AGREE 1000%. This is grand standing at it’s best by Maliki’s crew to make it look as though they are the reason the exchange rate got changed. They are fully aware it’s happening and are taking advantage of the information. The plus for us is that they are showing us the CBI’s intent. Let’s get this done already!
Source: Dinar Recaps
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we’ll forward your request to the author.
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2021 Dinar Chronicles