[via PDK]
Article:
‘Departments to stop taking cash in two days. Fifteen million Iraqis are without an electronic card’
The government of Iraq is going cashless. From now on folks will not be able to use cash to pay for government services. In the past there was too much cash disappearing from greedy government officials. This has made a massive difference in their revenue. This is part of the white paper reforms they wanted to get under control before they raised the value of their currency.
Question: Is today our day.
MarkZ: That’s a heck of a question. I will tell you what I am hearing. I did get a bond update this morning which is unusual for a Monday morning. There are some folks with some ’historical assets’ that are very set with appointments and timing…buckle up folks. When it goes…we will also go pretty soon…I am upbeat but trying to stay calm.
Question: When the rate changes-will it be on the CBI or forex first.
MarkZ: If they do it like they did in Kuwait – neither. Kuwait quietly went – but did not publicly release rates for 10 days. I do not think they can do that in today’s internet world. My guess is it will show on the CBI site just moments before its on forex. This is just a guess.
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Mountain Goat
Article:
‘IRAQ IS DEVELOPING PLANS TO DEVELOP ITS TRADE POLICY LOCALLY AND GLOBALLY.’
Quote:
‘The Ministry of Trade announced plans on Saturday to develop infrastructure by digitizing services to accelerate trade and reduce costs. While indicating that the next phase requires political will and economic stability to prepare Iraq for an effective partnership in the global economy, the Ministry emphasized the need to strike a balance between protecting the national economy and global openness, as well as preparing for accession to the World Trade Organization.’
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Television is reminding us Iraqi citizens that starting July 1st all government agencies will not accept any cash payments…The government will not be dealing in any form of cash. We’re going digital.
FRANK: July 1st is interning. The CBI already does not allow you to use American dollars anymore. Now they’re not even going to allow you to use your 3-zero notes. They want you to go digital…You can’t use physical cash. If that’s true then that means the security and stability of your lower notes has been established…1310 electronically makes no sense to me…
The parallel market and the official exchange rate is rapidly closing…Once it reaches 1 to 1 with the pairing of the American dollar internationally it will be in position to float in an international basket with other currencies.Trump quickly removed Iran and you quickly had security and stability [In Iraq] for one reason only…a new exchange rate IMO. You should see who has dinars. The fear of Iran is gone. This bombardment we thought was going to create spillage into your country and maybe mess up the monetary remove, never under the command of Donald Trump. Donald Trump wants America to get repaid.
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Clare (KTFA)
Article:
‘Ala Talabani: The region’s salary crisis is ‘political and financial’, and an agreement with Baghdad is imminent.’
Article:
‘Iranian President: We are ready to start a new page in relations with neighboring Gulf countries’
Quote:
‘Pezeshkian said that strengthening our relations with the Gulf states carries a message of peace, brotherhood, and development for the entire Islamic world, and we are ready to cooperate with the Gulf Cooperation Council, thus opening a new chapter in our relations with the Gulf states.’TNT Tony
[via x/twitter]
…Live Rate on Forex, Bloomberg…the rate is 1310, live rate, going to go up tonight. Tomorrow it will be $3.47. Tomorrow you should start getting paid.
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MilitiaMan
They’ve been able to contain inflation at 1310. Are they going to be capable with the same tools to do the same thing if they delete the zeros. The answer to me is yes…The largest financial institutions in the world would not be giving this much attention to Iraq for a risky situation…
Iraq has a lot of natural resources… and there’s even more talking about taxation and customs and fees…Those are banking reforms. All of these things come into play in what we’re seeing happening as of today and it hasn’t stopped even under all this tension. It hasn’t stopped…
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Walkingstick (KTFA)
Trump shut down Iran with one single s**t. That gave security and stability. That’s why it’s moving so fast. Security and stability is alive in the Middle East. The fear that Iran would spill into Iraq is gone. Trump didn’t give Iran a chance to hit Iraq.
Samson (KTFA)
Article:
‘Preliminary agreement to launch trucking between Turkey, Iraq, Kuwait, Germany and Jordan’
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Sandy Ingram
This is what is important. To obtain IMF Article VIII status a country must demonstrate that it maintains a freely usable and convertible currency and allows current account transactions to flow without restrictions. This means the country cannot impose controls or delays on international payments…The central bank must also avoid multiple exchange rates or practices…Instead it must commit to transparent market-based exchange rate policies and permit fair access to foreign exchange.
Source : dinarchronicles
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