More News, Rumors and Opinions Friday PM 7-28-2023


July 28, 2023;Chats And RumorsEconomics


Clare:  Almost complete suspension of applications of the dollar exchange in Iraq

7/27/2023   Baghdad..

On Thursday, the electronic “stock exchange” applications witnessed a halt in displaying updates of the exchange rate of the dollar in the parallel market.

Experts point out that the mobile applications that promote local exchange rates (black market exchange rates) do not reflect the real demand in the market, such as a real electronic auction or stock exchange, but are merely a means of displaying information.

Earlier, experts warned against using these applications as a tool to change the direction of the market, due to its wide spread and the degree of dependence of markets, traders and merchants on its presented data, through the imaginary effect on exchange rates and the impact on the markets.

The dollar exchange rates recorded high levels in recent days, until they reached levels of 157 thousand dinars per 100 dollars, amid punitive measures imposed by the United States on some private banks.    LINK

Clare:  The judiciary: the arrest of suspects who carried out suspicious banking activities and the seizure of 15 million dollars

7/28/2023   Baghdad – 

The Supreme Judicial Council announced, on Friday, the arrest of a number of speculators in the national currency.

The media center of the Judicial Council stated in a statement, which Mawazine News received a copy of, that “under the supervision of the Third Karkh Investigation Court and in coordination with a work team from the National Security Agency, the Iraqi Anti-Money Laundering Office and the Exchange Control Department in the Central Bank of Iraq, suspects were arrested carrying out suspicious banking activities.”

They admitted that they took companies doing business as a cover to smuggle currency out of Iraq.

He added, “These companies were raided in separate areas of Baghdad, and sums of money estimated at fifteen million dollars were seized and deposited with the Central Bank after the Anti-Money Laundering Office submitted its reports containing suspicions of money laundering in a way that monopolized the dollar currency in this way.”    LINK


Clare:  Central Bank: Iraq annually imports goods worth $60 billion


The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced that Iraq imports goods worth $60 billion annually.

Al-Alaq said in an interview with Al-Iraqiya News Channel, which was viewed by “Al-Iqtisad News”, that the daily announcement of the sale of the dollar by the Central Bank of Iraq cannot be considered an actual sale, as we transferred 200 million dollars through the dollar sale window, so 150 million dollars may be accepted from it and the rest It is classified under several boxes, including refusal, requesting information, or pending.

He stressed that Iraqi trade needs more than what we sell from the dollar through the window, noting that 118 exchange companies have turned to deal with new banks instead of the banks that were punished by the US Treasury.

He pointed out that the Western Union and MoneyCram companies will be transferred to work with new banks instead of the previous ones, during the next week, noting that the level of financial inclusion in Iraq is still low despite the high percentage of the population.

And he indicated that the rights of citizens in the punished banks are preserved through the deposit guarantee company, and that the punished banks do not suffer from a liquidity crisis.


Turk182:  is that $60-Billion at a worthless, toilet paper currency? 


Courtesy of Dinar Guru

Frank26  The CBI is talking about the American dollar… Look, stop using it.  If you stop using it you don’t have to worry about the exchange rate of the American dollar verse the Iraqi dinar...The value of the American dollar will drop like a meteor in the ocean.  If you stop using the American dollars…the value of the dollar will go down and the value of the Iraqi dinar will go up.  

Mnt Goat   The Governor of the Central Bank, Ali Al-Alaq, revealed on Wednesday, measures that will contribute to the stability of the exchange rate, and…he also pointed out that the new proposed 20k note has been dismissed from printing…we do not wish to expand the current categories, because the project to delete zeros still exists…  All we can do is sit tight and wait.  It is coming soon and this is yet another good sign that the new governor Ali Alaq is on the reform side and wants what we want.  

SILVER ALERT! The Fog of War in Global Gold & Silver Backed Currencies! (Andy Schectman & Bix Weir)


Here’s a “Must Hear” discussion I had with Andy Schectman of Miles Franklin where we discuss the very REAL possibility of every nation in the world moving BACK to a Gold and Silver Coin Standard!

LIVE! New Dollar Threat. Chinese State Banks Are Dumping Dollars. Watch Commodity Prices.

Greg Mannarino:  7-28-2023