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KTFA
Samson » October 3rd, 2022
Deputy: Reducing the price of the dollar will be a top priority for the new government
3rd October, 2022
The deputy of the coordination framework, Ali Al-Bandawi, revealed, on Monday, the existence of a study on the possibility of returning the dollar exchange rate to its previous era, stressing that returning the exchange rate to what it was before has become a popular demand.
Al-Bandawi said in a statement to “Al-Maalouma”, that “there is a study to return the exchange rate of the dollar, as it has become a popular demand, and that the only affected person is the poor citizen.”
He added that “the file of changing the exchange rate will be a top priority for the new government, as it is linked to the state’s financial policy,” noting that “the people affected by it are a large segment of the Iraqi people and must be returned to its previous price, as it has become a popular demand.”
And the representative of the Al-Fateh Alliance, Rafiq Al-Salihi, had revealed earlier, the existence of parliamentary moves to reduce the dollar exchange rate, indicating that Iraq’s revenues increase monthly after the rise in oil prices, which necessitates the government to return the dollar exchange rate to its previous era. LINK
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MilitiaMan » October 3rd, 2022
When they reduced the IQD to 1460 from 1190, it hurt the poor. That course of doing so has been run and served it’s purpose.
The next stage for the Central Bank is to serve it’s purpose in a far more profound way that benefits the poor with purchase power.
By that, it is to adjust the value of the IQD to an internationally acceptable and tradable currency outside it’s borders and on international platforms with an IMF Article VIII compliant currency.
That is what has become a popular demand we are reading about. Reverting back to 1190 is not reverting back to an era that was internationally acceptable nor Article VIII compliant with the IMF.
Having small category denominations doesn’t work with program rates. The CBI didn’t print new currency issuances in 2018 to throw them in the trash.. They intend to use them.. imo..
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The new government is being hammered out as we speak. Painfully slow it is it surely seems, however, there is movement in that regard, see below.
In fact there is an intense focus on the matter. The matter is serious and it is in line with the financial issues that are already in place and ready to go once they announce the direction they are to go politically, I.e., taxes and tariffs at the borders, WTO, BUNA, etc…
It looks as though with all that has been in the news on these matters during their National Day, suggests the future meetings in the coming hours to days are very expectant for results to flow in both directions, political and financial.. Imo ~ This all looks very good for us. ~ MM
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During his meeting with Plasschaert .. Mr. Al-Hakim calls for the formation of a government of national service LINK
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Al-Kazemi arrives in the capital of Kurdistan
3rd October, 2022
The Federal Prime Minister, Mustafa Al-Kazemi, arrived today, Monday, at Erbil International Airport, and was received by the Prime Minister of Kurdistan Regional Government. LINK
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Masoud Barzani and Al-Kazemi stress the importance of dialogue to get out of the political blockage
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The Security Council will discuss developments in Iraq tomorrow
3rd October, 2022
Tomorrow, Tuesday, the UN Security Council will hold a session on the situation in Iraq and the United Nations Assistance Mission for Iraq (UNAMI) LINK
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Al-Sadr: Freedom from the corrupt is the true national day of Iraq
3rd October, 2022
The leader of the Sadrist movement, Muqtada al-Sadr, said on Monday that liberation from the corrupt is the true national day of Iraq. LINK
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Board of Governors of the Federal Reserve System
Board Meeting
Closed Board Meeting on October 3, 2022
Government in the Sunshine Meeting Notice
Notice of a Meeting under Expedited Procedures
On Monday, October 3, 2022 at 12:15 p.m., a meeting of the Board of Governors of the Federal Reserve System was held under expedited procedures, as set forth in section 261b.7 of the Board’s Rules Regarding Public Observation of Meetings, at the Board’s offices at 20th and C Streets, N.W., Washington, D.C. and by audio/video conference call, to consider the following matters of official Board business.
Meeting Date: Monday, October 3, 2022
https://www.federalreserve.gov/aboutthefed/boardmeetings/20221003closed.htm
Source: Dinar Recaps
Samson » October 3rd, 2022
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Al-Sadr: Freedom from the corrupt is the true national day of Iraq
3rd October, 2022
The leader of the Sadrist movement, Muqtada al-Sadr, said on Monday that liberation from the corrupt is the true national day of Iraq.
Al-Sadr said in a tweet seen by Shafak News Agency, “Today is Iraq’s National Day, so Iraq lived free, proud, independent and strong, and that Iraq’s true national day is the day it was liberated from corruption and the corrupt, and the day of real reform without dependency, quotas, no experiment, no corruption, no external interference or militias.”
He continued, “Rather, it is a blessed country, neither eastern nor western, whose light almost shines from the people’s age and dignity.”
Today, October 3, marks Iraq’s National Day, the date of the country’s accession to the League of Nations. LINK
Al-Obaidi: We hope that our national day will be an anniversary of the evaluation of our political system
3rd October, 2022
On Monday, the head of the Parliamentary Security and Defense Committee, Khaled Al-Obeidi, expressed his wish that the National Day would be an annual commemoration of the evaluation of our political system.
Al-Obaidi said in a tweet via Twitter, followed by “Mawazine News”, “Congratulations to our people on the anniversary of Iraq’s independence 90 years ago (October 3, 1932).”
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Al-Obaidi noted, “We hope that our National Day will be an annual anniversary to assess the march of our political system and measure its ability to meet the people’s demands for a free, dignified, secure and stable life. Everyone, without exception, will enjoy a state led by a rational and just national government that bears its responsibility before the Iraqis and carries their concerns away from foreign interference.”
Al-Obaidi concluded, “Every year and our Iraqi people are good, and our hope remains great for a better future.” LINK
The return of storming banks in Lebanon
3rd October, 2022
Today, Monday, a Lebanese depositor stormed the Bank of Lebanon and the Diaspora in the capital, Beirut, and was able to obtain his financial deposit.
The “Depositors’ Scream” association said in a tweet on “Twitter” that “the depositor, Zaher Khawaja, released a sum of money of 11,750 dollars from Blom Bank, the Haret Hreik branch, and the remaining $ 750 for him in the bank.”
The Lebanese Depositors Association reported that “four people, one of whom is the depositor, Zaher Khawaja, stormed the Haret Hreik branch of BLOM Bank and got their deposit ($11,000) and left before the army arrived. Meanwhile, the army is deployed in the area.”
On September 16, Lebanon witnessed, and during the same day, about 7 raids of several banks, after which the Association of Banks announced the closure for 3 days due to security concerns.
During the past months, there were about 13 bank break-ins in Lebanon. The Association of Banks said that “continuing the policy of indifference means continuing the policy of storming banks.”
Lebanon has been suffering from an economic crisis since the end of 2019, and the World Bank has ranked it among the worst in the world since 1850. The local currency (the lira) has lost more than 95% of its value against the dollar, and more than 80% of the Lebanese are below the poverty line. While the unemployment rate rose to about 30%, and inflation rates exceeded 100%. LINK
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DoTalkToMe » October 3rd, 2022
The euro was pretty close to a crash and burn last week. Many currencies around the world are hoping for Iraq to come to their rescue.
So my ? Is will they rescue a corrupt failing monetary system. Or will they let a crash happen and restart it all again after the fallout and dust settles.
Source: Dinar Recaps
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