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STATUS OF THE RV , PART. 2
😊In the Articles Section I also am showing you once again an article from 2024. It is titled “AL-ALAQ: WE ARE CONSTANTLY REVIEWING THE DELETION OF ZEROS FROM THE DINAR, AND THERE ARE NO RESTRICTIONS ON OUR BALANCES IN AMERICA”.
Now why would the CBI tell us this if they were not still planning the project and thus are telling us they could do it anytime such as using the words “constantly reviewing”.
Again I keep asking my self just how far must the reforms go in order to move ahead with this project?
Remember that back in 2012, when under Dr Shabibi they did not have all these reforms in place, yet he was given the green light to go ahead.
Now Iraq is in a much, much better banking and financial position than in 2012. So, using our common sense we can see how close we are to this event.
I encourage everyone to take the time go re-read this article from 2024. To know where we are going we must remember what they say in the past. The full article is in the Articles Section.
In the article it talks about Iraq’s repayment of all its debts to the International Monetary Fund, accumulated over the years.
WOW! WOW! WOW! Why do I say this? This repayment will a positive impact in the long term by enhancing credit and improving financial sustainability, in addition to its repercussions on the country’s economic situation. I guess the IMF economic hitman is not having his way with Iraq…lol..lol. .
By repayment of these loans it will improve Iraq’s economic confidence and credit rating and obtain financing on better terms in the future. It will also achieve greater independence for Iraqi economic sovereignty, making the country less vulnerable to external pressures and interference in its economic policies.
In an article titled “THREE REASONS BEHIND IT… AL-SUDANI’S ADVISOR TO RUDAW: ABOUT 90% OF IRAQ’S MONETARY MASS IS HOARDED OUTSIDE BANKS.“.
You can go read the article for your self but I will add my commentary, which is not that far off from the TRUTH. Iraq even witnessed special banking centers set up specifically to collect these hoards of cash. it was NOT successful. Good try but no cigar…lol..lol..lol..
So why is there still so much of the monetary mass outside the banking system?
It is really just a matter of trusting the banks. I think not. What I firmly believe is that the average Iraqi citizen is not stupid. That because they lost so much value in their dinar, when they introduced the large three zero notes in 2003.
Many millionaires became poor overnight. They lost a fortune. They are holding back and are now waiting for a new rate to regain or even perhaps increase their wealth they had before the 2003 war and embargo years of (1990-2003).
I am convinced that the only way they are going to retrieve all this hoarded money is to bring out the second revalued rate to the CBI and then make the dinar equal to the dollar if not just over it.
This will bring in a good percentage of the cash but some will still hold out for the later reinstatement. So, if I believe this, don’t you also think that Ali Al-Alaq also knows this? is there something else he is going to try?
Mazhar Mohammed Saleh, economic advisor to Iraqi Prime Minister Mohammed Shia al-Sudani, believes that approximately 90% of Iraq’s monetary mass is outside the banking sector and hoarded in homes.
English (US) ·