[To adjust the salary scale.. Employees of 8 ministries fill Tahrir on Victory Day]

US Congress salaries = $174,000 annually. Stayed the same since 2009. 
 

Iraqi Ministers/Parliament = 170,000 dinar, looks pretty similar at a 1:1 rate. The bump to 250,000 dinar makes them higher paid than US Congress members at a 1:1 rate. They want the Dinar stronger than the Dollar and they want to be better than the US. 
 

interesting 🤔 

[24 Election and Oil]

One current factor that makes it advantageous for Iraq to RV/RI is the high market price of oil. 
 

If Biden runs in ‘24, he’ll get clobbered by Trump or Desantis. Inflation, the economy and immigration will sink him. With a Republican in the White House, I would expect oil to come down quickly in ‘25. 
 

Iraq has a shrinking window to do this. They are talking urgently; we’ll see if they ACT urgently. 

[We do not think about returning the dollar to its previous price, and the problem began during the era of Saddam - the central bank]

These articles are rekindling my hope!

[Sudanese Advisor: The Battle For The Dollar Is Almost Over]

Dedollarization.
 

To be honest, I have been mulling selling all my dinar the past few weeks, but these now I gotta see this through at least the first qtr of 24. 
 

24 or bust!

[Sunday Lunchtime Opinions @ 1:24 PM CDT - 4/23/2023]

On 4/23/2023 at 5:19 PM, Laid Back said:

 

Original quote from the news article;
 

“the real value of the dinar that exists now is more than a dinar and a half, because the bank's reserves are very high and therefore the cover of the national currency is high."

My opinion;

 

All they’re saying is because of high foreign currency reserves they can cover monetary mass 1.5 times or by 150%

 

Militia Man  Al-Sudani said, 'now'.  That is a very key point to where we're headed.  He comes back a little bit later and he said the dinar is going to be a little bit stronger.  He implies 1.5 times.  Be careful how you think about that.  Some of the folks out there seem to think that means it's $1.50 but...he's talking about the official exchange rate - 1310 [which equals approximately] .00076336...But when he says 1.5 times that's a totally different equations because currencies are valued by reciprocals...what's 1.5 x .00076336? Turns out to be about .0015405... 

 

My opinion based on the above;

 

$1/1310 =$0.0007633 

$0.0007633 x 1.5 =$0.001144

Guess will happen after deleting the 000

 

Go Stronger dinar $1+

 

 

I like where you are going with this. Delete the 3 zeros and get $1.14. I remember reading similar math at around $1.17 or so. Makes sense—stronger than the dollar, but not crazy like Bruce the goose and others throw out there every week. 

[Official: CBI News 04/12/2023]

That’s a lot of important financial organizations getting their heads together all at once. 

[Official CBI News 03/14/2023]

8 hours ago, Laid Back said:

“The Deputy Governor of the Central Bank of Iraq announced the start of printing new money in the category of 20,000 dinars at the end of this year or early next year.”

 

Looks like they are planning to replace the 25k note for the new 20k note. And then delete the 000. Hope we get paid for our 25k notes. 

 

We wait and see.!

 

Go Stronger Dinar $1+

 

 

Hope so too. All my Dinar are 25k notes. 

[The President of the Republic stresses the need to speed up the adoption of the Oil and Gas Law]

31 minutes ago, NoviceInvestor said:

I often wonder why they let him stay in the top job. 

Instead of dealing with dementia and ice cream, we’d be dealing with incompetence and word salads.

[The President of the Republic stresses the need to speed up the adoption of the Oil and Gas Law]

4 hours ago, 6ly410 said:

stressed the need to speed up the adoption of the oil and gas law in a way that guarantees Iraqis to enjoy their national wealth with justice and equality.

“NEED”

”SPEED UP”

”GUARANTEES”

”IRAQIS ENJOY THEIR NATIONAL WEALTH”!

“EQUALITY”

 

I like them words

[First Bank of Iraq launches global instant money transfer service]

1 hour ago, dinarham said:

    I always like to go back to the problematic and somewhat funny issue of the sheer bulk of a worthless currency being traded around the world . Or ATM's ,which would have to be huge and fed with big semis several times a day . Or having to have 2 wheelbarrows full of dinar to buy 1 wheelbarrow .  Another thing , De La Rue printed a limited amount of the new iqd as the notes were very expensive to print ,and not geared for common usage . So it's a good thing that visa has moved into Iraq .

Everything you said is common sense logic. This kind of news is what Iraq was only talking about in the past several years. Now it is reality. All this banking infrastructure is setting the stage for implementation of a comprehensive strategy to move Iraq into the modern world of international banking and trading. Really vital progress! We’ve gotta be close. 

[First Bank of Iraq launches global instant money transfer service]

1 hour ago, boosterbglee said:

Waiting for the transfer into my account.......on account I have no money!!!😇

Same 😅

[Prime Minister: We are serious about ending the outstanding issues with Erbil]

3 minutes ago, coorslite21 said:

12%.....that doesn't seem right?

CL

I recently read somewhere that Baghdad wanted like 12% and Erbil wanted somewhere around 14%, so 12.67% would be a believable compromise. 
 

* I could be wrong about those figures*

[Iraqi government spokesman: We are close to an agreement on the oil and gas law]

1 hour ago, Half Crazy Runner said:

Has this ever had before?? In all the (way too many) years I’ve been following the Iraq news here, I’ve never seen a 3-year budget… 

Well, at least we won’t have to watch paint dry for the next 3 years when it comes to the budget. 🤪

 

and just maybe we can all cash out soon and never have to read about Iraq ever again. 😅

[Amendable by Parliament... A legal clarification of merging the budgets for the next three years]

58 minutes ago, 6ly410 said:

The Prime Minister, Mohammed Shia Al-Sudani, had confirmed, on Monday, that the share of the Kurdistan region in the budget is 12.6%, stressing that "the understandings between Baghdad and Erbil confirm the progress of the two parties towards the adoption of the oil and gas law.”

Boom 💥 keep these articles coming. Great news!

[Iraqi government spokesman: We are close to an agreement on the oil and gas law]

1 minute ago, Half Crazy Runner said:

That’s the amount I get as well,  .76¢  and that is extremely fine by me!! 

No hesitation from me…cash it all in!

[Iraqi government spokesman: We are close to an agreement on the oil and gas law]

I assume the budget is based on IQD at 1310? Who’s good at maths? Quick! What would the value be after the project to delete the zeros?!

 

Is it .76 cents? 😎

[The government moves to end "dollarization". The dollar is not available for dealing between citizens - urgent]

Removing the dollar from use in Iraq will drive demand for Dinar. Iraq could then justify letting the Dinar float in open international market and continue to increase in value against world currencies. 
 

 

 

[Kuwaiti dinar first and US dollar tenth: the 10 most powerful currencies in the world]

Love all your thoughts.

 

So much talk about Iraq needing infrastructure, private sector growth, etc.. Well, they aren’t getting any of that with worthless currency.

 

Make the Iraqi people rich and watch as the invisible hand of a free market economy flourishes where government planning and pushing could not. 
 

They need a strong Dinar!!

[He described it as a "stupid step".. British report: The Iraqi government created a cash crisis by paying its debts to Iran in dinars]

Iraq needs energy independence. Develop systems to deliver gas and electricity and remove dependence on Iran. 

[Iraqis are waiting for the value of the Iraqi dinar to rise after decades of collapse]

27 minutes ago, BETTYBOOP said:

Might be a stupid question but... if they took the 3 zeros off the exchange rate would the budget simply become million rather than trillions? or is that too simple. Just thinking if they passed budget and then took off the 3 zeros would it then need recalculated again?

From trillions to billions; but yes, I believe your thinking is correct. A currency change would affect the numbers in the annual budget. 

[Parliamentary and political movement to approve the oil and gas law.. 3 features of the project, most notably ending the disputes between Baghdad and Erbil]

3 hours ago, southbeach said:

I would think Iraq told US Fed last week they were going to do this.

No objection from the Biden administration. And since Hunter is the smartest man he knows, he is probably at the center of brokering all these deals with other nations (for a small fee in the millions)😆

[Parliamentary and political movement to approve the oil and gas law.. 3 features of the project, most notably ending the disputes between Baghdad and Erbil]

56 minutes ago, NoviceInvestor said:

How long does a “session”  of Parliament last in Iraq.?

Also a reminder that Ramadan begins 4 Weeks today.

Not sure, but It will surely end before Ramadan. 

[Parliamentary and political movement to approve the oil and gas law.. 3 features of the project, most notably ending the disputes between Baghdad and Erbil]

Sounds like the committee is taking a draft and updating it with current agreements reached during meetings between Baghdad and Kurdistan; and the finalized law will come before parliament for a vote this session. 
 

If so, this is BIG NEWS!!!

[A high-ranking Kurdish delegation visits Baghdad today regarding the oil and gas law]

3 hours ago, 6ly410 said:

"The meeting decided to form a joint committee to prepare and draft the federal oil and gas bill," he said.  

How to pass the HCL in 2 short steps:

 

1. Assign a team of Democrat staffers to draft the bill (they can put out 3 thousand pages of legalese overnight).
 

2. Then have Pelosi tell Parliament it is urgent and they need to pass the bill to find out what’s in it.
 

And Bam 💥 you have the HCL!

[The central governor reveals the secrets of decreasing the dollar and the reason for its rise in the markets]

The news in the past 3 months is unbelievable when compared with years past. So good!