"Arc of Progression" - Mon. PM TNT Thoughts/News 11/5/18

by **Ssmith** Tue Nov 06, 2018 9:17 am

TNT

Tishwash:
The scandal of the Central Bank, which is preoccupied with the name of its currency

Baghdad: The Central Bank of Iraq will be exposed to a "scandal" caused by the exploitation of its daily foreign currency auction and preoccupation with the crisis of writing the name of the acting governor Ali Aliak on the latest edition of the Iraqi currency of the small category.

"The bank bought the dollar from the currency auction in the name of nearly 438 customers," said the owner of the office of Siravh, and only said his name first {Muhammad} told the {Euphrates News} about the file of the Bank of Baghdad and buy the currency auction through customers, 10 - 2011 bought 100 billion Iraqi dinars and around the outside of $ 232 million, or nearly 3 times how so? ".

He added, "Akstvna at the end of 2015 and 2016 we found the names of our companies amounts ridiculous, and we went to the Tax Authority and went to the bank and refused to provide us with information and we went to the Central Bank and the other refused to do so."

"There is a lot that does not know that his name has been used to auction the foreign currency of the central bank," he said.

For his part, said economic expert Abdul Rahman Mashhadani told the {Euphrates News} "This subject and has documents on other banks in cooperation with tourism companies through the photocopy of the passport and the withdrawal of $ 5,000 on the name of the owner of the passport does not know," noting that "the Central Bank dealt with this subject Imposing a $ 20 penalty on $ 100? ".

"He has documents on the settlement of these things and the huge sums of up to 400 to 500 million US dollars and we have the Central Bank's book with the Bank of Baghdad and there are many banks working in the same manner and part of the money laundering work outside Iraq."

"The role of this window and the organization of its work should have been scaled down, but the currency auction is open on a weekly basis. It does not serve the Iraqi currency," he said.

Al-Mashhadani pointed out that "the liquidation of this matter to the owners of companies is not easy and people who review the tax departments was better to sue them against these banks being part of the fraud and fraud." link

Lux40:
This is just my $0.02, but here goes.

A very long time ago, an intel contributor that had experience in PR at the highest levels spoke at some length about how public opinion is changed or otherwise redirected. She mentioned that when there is to be a movement in one direction or another, often news articles begin to emerge that are specifically designed to alter the perspective of the public.

It has been stated for years that the currency auctions would either stop completely, or be significantly reduced in magnitude, as the revaluation approaches. If we think about it, how many times did we hear the word "corruption" before the first article specifically mentioning high-ranking GOI officials siphoning money from the auctions actually turned up? By my memory (which isn't perfect), "corruption" was mentioned for a long time before the first article putting a specific "name" on it appeared.

Now, we have what appears to be the first (I might be wrong on this. I'm not trying to mislead anyone here) article that openly questions the need for the currency auctions AT ALL.

That "arc" of progression is several months long, by my recollection. I recall the article about the GOI officials stealing from the auctions appearing earlier this year (2018), and now, we have this one. Sometimes, it is hard to see change when it happens over time frames that are generally longer than the average attention span (sort of like Sorites Paradox).

"The role of this window and the organization of its work should have been scaled down, but the currency auction is open on a weekly basis. It does not serve the Iraqi currency," he said.

If this is a hint as to the future (specifically, the end) of the currency auctions, I'd say that this article might be quite important.

Also of interest, and definitely in our favor, is the fact that the payments to Iran apparently have to be in Dinars. If those payments are to be made at the program rate, then Iran stands to make a fortune once the switch is flipped on a formal reinstatement/revaluation.

Unless, of course, either the payments for goods received in Iraq are already being made at a reinstated/revalued rate OR the payments could be deferred...but for how long? Doesn't the idea of paying Iran in pre-RV Dinars completely undermine the goal of isolating them internationally, much like Tony mentioned?

I am guessing that others in this community might be thinking the same thing...but who knows?