Samson: Post 111: After The Oil Price Hike, Alia Nassif Calls For A Reduction In The Dollar Exchange Rate
28th September, 2021
Representative Alia Nassif called on the Ministry of Finance to reduce the exchange rate of the dollar after the price of a barrel of oil exceeded eighty dollars, indicating that it is not fair for the poor to pay the price of economic crises, whether they are caused by corruption or the lack of appropriate plans to deal with crises.
Nassif said today: “The price of a barrel of oil has exceeded eighty dollars, while the dollar exchange rate is still burdening the Iraqi citizen who pays the price of financial corruption and the absence of appropriate plans to confront economic crises such as the crisis of the previous drop in oil prices and the country’s dependence on oil revenues only,”
Indicating: The working class is the most affected by the rise in the exchange rate of the dollar, because its purchasing power is now unable to cope with the rise in the prices of food commodities and basic materials.”
She stressed "the necessity for the Ministry of Finance to reduce the exchange rate of the dollar against the dinar and return it as it was in the past, because there is no need to continue with the high exchange rate and to avoid its negative repercussions on all groups of the people." LINK
MilitiaMan: The representative of the Ministry of Finance is telling us there is a reason that a rate change is expected to go back to a prior era. 1166 is not it nor is 1182 nor is 1460 going to cut the mustard.
They are all program rate centric and harmed the citizens. They are not international, sovereign nor freely traded exchange rates globally. The next move we may see is a digitized one that will coincide with a need to make change down to the fil if need be.
All to be for the citizens benefit!! imo Watch what they do..
They are telling us they even now have contracts for mobile payments.. Digital ones.. imo. All new systems will require a new internationally traded currency with value enough to need small denominations.
Timing is so very perfect.. imo..
A smooth transition may be seamless in the very near future. imo ~ MM
Frank26: "KTFA HERE IS YOUR KEYWORD....... CADRES!!!".........F26
Frank26: ONE MONTH AGO I USED THIS WORD “CADRES” AND WANTED TO MAKE SURE YOU UNDERSTOOD THIS WORD…THE PEOPLE IN CHARGE, THE FAB 4, ARE THE CADRES.
THEY HAVE WORKED ON THIS AND CHANGED THE RATE ON A 2ND SET OF BOOKS AND ARE ABOUT TO SHOW IT.
THEY CREATED A SAFE HAVEN FOR THE WORLD TO POUR INTO IRAQ BY ARTICLE 8. THIS IS A SYNOPSIS OF EVERYTHING WALKINGSTICK & I TAUGHT YOU……FRANK26
An economist calls for the revival of the experiment of oil-gold speculation in Iraq
The economic expert, Riad Al Marsoumi, called on Monday to revive the experience of speculating oil with gold in the country.
Al-Marsoumi told Al-Furat News that "there is an old Iraqi experience in the last century, through a specialized committee in the Central Bank of Iraq, which carries out the process of trading and economic speculation in gold." He pointed out, "The possibility of this committee to benefit from fluctuations in gold prices, especially since gold and oil have a direct relationship, that is, the higher the oil price, the higher the gold price."
Al-Marsoumi considered this field "profitable. The economy can benefit from the rise in gold prices, especially since it has become an economic safe haven, after changing the exchange rate of the dollar, which is commensurate with gold in a military relationship, and there are Iraqi cadres in the Central Bank who worked in this regard."
Experts and specialists stressed that the rise in gold prices has a strong relationship with energy and oil prices, on the grounds that the price of oil has a relationship with the productivity of most commodities because it represents a part of the cost components of any commodity, whether transportation, production or others, and when any changes in its prices occur, this affects the economy The local commodity by making changes in the prices of local commodities, whether the change is up or down. Gold prices rose in Iraq, in trading this evening, Monday, despite the decline in the prices of the precious metal globally. And the price of a gram of 24 carat gold, during evening trading in Iraqi gold shops, was about 82,445 dinars ($56.49).
A gram of 21 karat gold amounted to about 72,141 dinars ($49.43). While the price of a gram of 18 karat gold in Iraq was 61835 dinars ($42.37). As for economic gold prices in Iraq, the price of a gram of 14 karat gold scored about 48,093 dinars ($ 32.95), and the price of a gram of 12 karat gold scored about 41223 dinars ($ 28.24). LINK
MilitiaMan: This is not surprising at all that they are talking about real money and commodities in which they have much of in both. Both will support the value of their currency which too is going to be a valuable commodity.
Their Bonds paying 6% - 7% respectfully may very well be the change that set the stage for all of us. Telling us they will not change the rate for four years. They will not change it again once they change back to the previous era.
One that will require them to not change the rate again because of the new exchange rate will require stability, security and sovereignty. All of which President Salih spoke about at the UN and on CNN news..
Iraq is not being quiet about what they are doing.
The last post #111 (see above) shows that they say they are going to do something, then they show us they are doing those things. The digitization of the country has been and is underway.
I expect to see them show us the 2022 budget 10/01/2021, as they have not yet exposed the 2019 FMLA - 2021 Budget yet, and the Judiciary was to have a decision on that matter on 09/23/2021 and have yet to do so.
IF the Training Meetings are over with the Cadres, it is show time.. imo.. ~ MM