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Prolotario
@Prolotario1
Why Do People Keep Falling For This?
The entire reserve-drain scenario only applies if CBI pegs at $3.00 and defends it against real market pressure. Nobody credible in the RV space is arguing for that.
An nitial parity or a capped release rate, then a controlled float letting the market find the ceiling. A float doesn’t drain reserves the same way the currency finds its own level. Most people are not holding that position.
Here is the 2nd issue.
This is the big one. If Iraq sells oil in USD, then every dollar of oil revenue gains purchasing power domestically when the dinar strengthens.
A stronger dinar means the government’s dollar revenues stretch further for dinar-denominated obligations salaries, pensions, reconstruction.
You (info graph) are treating dollarized oil income as a liability for a strong currency. It’s the opposite. It’s the reserve source. Iraq has accumulated reserves precisely because it’s been running a deliberately suppressed, export-subsidizing rate for years.
Not to mention they have 170× gold reserves.
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But you want to know what the other big misconception is that people keep falling for? The CBI/Iraq are not the ones paying us. This throws your entire argument off a 100 floor balcony.
You assumes holders redeem directly through CBI windows. They don’t. Holders exchange through secondary markets banks, brokers, Forex desks once IQD is live.
CBI isn’t the counterparty to our exchanges, just like the Fed isn’t the counterparty when you sell euros at a currency exchange. Liquidity comes from market demand and interbank settlement, not from Baghdad cutting checks to Americans.
A Full Cabinet Can Approve Dropping The Program Rate
Cabinet completion post-October 3rd celebrations, then the financial dominoes.
A caretaker government can’t sign off on a rate event of this magnitude you need a seated, complete cabinet to e*****e the coordination with the U.S. Treasury side (SEC & CFTC rules passage, tokenized settlement infrastructure).
The pieces aren’t random, they’re sequential, and the sequence is accelerating.
This should imply the obvious as to what is coming once they complete their cabinet. Which will be a major publicized event hosted by PM Ali Falih Kadhim al-Zaidi. I suspect all of this can be done by Monday.
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Source(s):
• https://x.com/Prolotario1/status/2105019422649839948
• https://x.com/Prolotario1/status/2105039543535837644
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