|
Search the Community
Showing results for tags 'article'.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Mnt Goat Article: “GOVERNMENT ADVISOR: ASYCUDA SYSTEM IS A VITAL TOOL FOR DEVELOPING CUSTOMS WORK AND BOOSTING INTERNATIONAL TRADE”... “WOW..!" This is another article about these future non-oil revenues. The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, reviewed on Sunday, the importance of adopting the ASYCUDA system in customs administration, noting that it reduces delays at ports and boosts international trade...Remember again that this system needs a link to FOREX currency exchange to get the most current, UpToDate rate of currencies in order to calculate the fees. They cannot “fully” implement it without this tie in.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Militia Man Article quote: "Iraq achieved a noteworthy diplomatic accomplishment last September when it was formally elected chair of the group 77...held in the United Nations Headquarters in New York. The G77 is the largest intergovernmental organization of developing countries in the United Nations which provides the means to promote their collective economic interest and enhance their joint negotiating capacity on all major international economic issues within the United Nations system." So Iraq is going to go from not even having an international accepted currency to do all this? Really? I don't think so. Walkingstick The monetary reform education is extremely fast. They are now all the way to the point where they are past the basket and talking to the Iraqi citizens about the future of digitization in their country. Digitization of their currency mainly will help at the onset because you cannot introduce too much currency at the start. Not a cashless society at the onset but given time Iraq will be. That is the goal.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 We have security and stability in order to introduce the new exchange rate that Dr. Shabibi and the US Treasury have been protecting for a long time. There are no more CBI auctions. It is now called... remittance, just like the American banks do. The CBI is now functioning exactly like international banks, exactly like American banks... MarkZ Question: What is your gut feeling Mark? Mark: My gut is screaming sometime between now and Jan 22. Just a guess. Mark, you've been guessing wrong for years..! What makes you think you're even close with this one..? Pimpy Article: "CBI Tower and Grand Faw Port Ranked Among World's To Mega Projects for 2025" There are a couple of mega projects already taking place in Iraq somehow, someway with the currency exchange rate. Congrats to Iraq and their CBI tower and the Grand Faw Port ranked among the top meg projects in 2025. I know the tower is almost completed and the Port of Faw is partially open already. This is moving right along and they did it with a current exchange rate.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 They told the Iraqi citizens we are in the process of adding a mechanism to add purchasing power to your currency. Sudani constantly kept talking about it in November and December last year - 'I promise I'm going to do it. I promise you'll have more purchasing power than the dollar.' He actually kept his promise because there is no dollars in the country of Iraq. The only currency in Iraq right now is the Iraqi dinar. It has more value than the American dollar that has zero value inside of Iraq, therefore the Iraqi dinar now seeks a door... Jeff In order for parliament to approve those [budget schedules] the rate needs to change first. The fact that they did the second reading on only article 12 of the budget, that's the same as having one tire on your car. It doesn't do Iraq any good. It's basically a pointless useless step. For the budget to work for Iraq, all of the budget amendments need to be approved... Militia Man If you're doubting your investment hang in there because what they're saying is truly something I've never seen in my 15 years of being here and the evidence is not from me and it's not from anybody else on the internet, it's directly from an economist and the central bank. I think it's huge guys. It's exciting times. The stage is set. Frank26 The monetary reform policy has been going through some steps. It has been evolving the policy and they've been using many mechanisms to assure this. Now they're sitting in a position. Sudani, the CBI and the US Treasury have been [very close]. The 8th floor of the CBI building, that whole floor, belongs to the US Treasury. You think they're going to be there because they're going to keep the exchange rate at 1310? Mnt Goat Article: “ECONOMIST: THE CENTRAL BANK’S POLICY IS MOVING TOWARDS GLOBALIZING IRAQI BANKS” Quote: “Safwan Qusay confirmed that the Central Bank’s policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally” also “the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks.” Yes, “providing guarantees and international compliance” is all insurance related. Investors in Iraq need to know that their funds in Iraqi banks will be protected. [Post 1 of 2] Mnt Goat Article quote: “He added that these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world.” What did it just tell us? A million banks around the world? What does this mean to us as investors? We know that...conditions to get back to FOREX that this insurance part is a pillar of the financial reform. Therefore, it is a reform that needed to take place and is now taking place. Also, I want to add that the statement of “changing the Iraqi dinar to any global currency immediately” is an amazing statement...Could this news get any better at this time? Can this be what is holding up the revaluation and the reinstatement? [Post 2 of 2]
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Ingram At the present time, January 2025 the Central Bank of Iraq has severe limitations on trading the IQD on the markets. We are not sure if the limitations are because of U.S. sanctions, the Islamic faith or both...One of the fundamental tenants of Islamic finance is the prohibition of gharar, or excessive uncertainty and maysir or gambling both of which are deemed detrimental to individual and societal well-being. The foreign exchange market presents a challenging ethical dilemma for Muslims. While forex trading is a legitimate global financial practice, its nature and mechanisms often raise questions...Gambling or maysir, is unequivocally prohibited in Islam. However, some scholars suggest forex trading can be permissible if conducted in a manner that avoids speculation, interest and excessive risk. Jeff Article Quote: 'Enhance integration into the national and global banking markets.' That's why this is waiting for the rate to change. You have to have an internationally convertible recognized currency first, then they can get into the global banking market.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "The House of Representatives completes the second reading of the draft amendment to the budget law" Quote: "The Council of Representatives concluded, in its session today, Monday, the second reading "Report and Discussion" of the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023." Frank26 Everything is moving extremely fast. When we reach this 1,000 to 1 you know how quickly they can lift those three zeros? [Snap] like that. Pushing a button and now you're one to one... float it. Start at 1 to 1 and see where it goes from there. Everything is moving so fast because de-dollarization. Fnu Lnu [Reply to Idiot Bruce's higher contract rate on dinar post on 1-12-2025 - I didn't post it] There is no "contract Rate" except for the people who have pre-2011 Private Purchase Contracts. If you do not have such a contract, you WILL NOT get a contract rate. Contract Rates are not paid by banks but rather by the contractor. This is Dinar Mythology and there exists NO PROOF of any such contract rate. If you want to go into the bank and sound like an idiot, then be my guest. Everyone will get exactly the same rate due to "The Law of One Price". This can be verified. You must ask yourself how you might get a "contract Rate" without a contract? However, the banks may well have varying rates on the exchange fee but that is generally around 2%. Militia Man In my view this reeks of a need to change the exchange rate for the Iraqi dinar or they would have already done it. If they're going to an international state, they should have already done it by now if it was going to stay the same exchange rate...Everybody that's been involved with the dinar should [ask], 'Well they've been at 1310 for a year or more, why haven't you done it yet?' That's because they're looking for an exchange rate change because that's what's going to happen.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 It used to be they would steal the money through the auctions, but now there is no more auctions. The cash cow is dead and the security and stability is blossoming inside of Iraq because of the efforts of Sudani, the United States Treasury and Donald Trump. The black market was another powerful weapon they used to manipulate the exchange rate of the Iraqi currency...The black market rate is dropping. It is dying. The black market does not feed the evil people anymore. Clare Article: "Among them is the Iraqi Elina Habba.. Trump honors his supporters from the leaders of the Arab and Muslim community" Quote "US President-elect Donald Trump is scheduled to meet with leaders of the Arab and Muslim community in the United States and honor them, including the Iraqi Elina Habba, the lawyer who was known for being one of Trump's defenders and one of his most prominent supporters in the elections." Militia Man The 2023, 2024, 2025 budget amendment looks to be on the table. It was supposed to be read on Monday, it looks like it's slated for Sunday. So powerful weekend...It looks pretty promising it really does. Pimpy They continue with all the necessary reforms which is really great for Iraq. Let's hope they continue. What we're looking for is Trump to erase the last of these sanctions maybe in return for something that he needs from al-Sudani. Kaperoni Iraq is clearly working to diversify their economy away from oil Independence. They're also diligently focused on investment, rebuilding and integrating their banking system into the global economy. Good signs! Frank26 The monetary reform of the Iraqi dinar is now entering another step, another stage because the last one is just finished. We were hoping they were going to expose the new rate... Walkingstick [Iraqi bank friend Aki update] AKI: We are just sitting here waiting for the introduction of the new exchange rate that will come from the '25 budget. We wait for the budget laws that will expose the budget and its components and the new rate..
-
- 6
-
-
-
-
- article
- bank friend
- (and 2 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Samson Article: "On the eve of Tehran visit, Al-Sudani packs a number of files in his bag, including a “new strategy” " Militia Man Change is coming. The new reinforcement mechanism is doing what it's designed for. It's not the dollar auctions anymore. They call it the reinforcement mechanism. What are they doing? They're increasing there foreign currency reserves. Pimpy They haven't passed a budget fully yet. We know it's in their hands. We know they're discussing it. I think they're really just waiting to find out what's going to happen to the oil market [with Trump coming into office] and which players [Iran, China, Russia, etc] move where and how that's going to affect Iraq. Jeff For them to approve the oil and gas law is absolutely waiting for the rate to change. Two very critical articles now saying they've magically reached an agreement on the Oil and Gas Law within the month of January. Again, the Oil and Gas Law has been pending and outstanding since 2005.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 You're going to see the new exchange rate before you see the budget. Militia Man Community Comment: "I understand the need for diplomacy, but Iraq needs to step back from Iran politically...Al -Sudani needs to be careful! Trump is going to come down hard on Iran and I hope Iraq doesn’t get in the way." I understand your view. We report what is in reality and happening during a global event too. Like it or not Iraq and Iran are linked. My bet is Iran is capitulating for a very big reason. The news is the news. We watch what happens and report it. Mnt Goat Article: “NO FEAR FOR THE REGIME IN IRAQ AS LONG AS AMERICA AND THE RELIGIOUS AUTHORITY ARE “SATISFIED", THE GOVERNMENT IS HEADING TOWARDS “INDEPENDENCE”. Iraq must gain their independence not just on paper but in practical terms. Now that the Chapter VII sanctions are released for over 2 years already it is time. The next stage is full sovereignty promised to the Iraqi people during the second invasion in 2003. Yes, they still are not a free country until they get back their currency, which means to control their own wealth. Also I want to mention, the CBI reserves are in the bank in New York JP Morgan/Chase DFI fund amounting to over $120 billion dollars. And so Iraq will also have to recover these funds too. The UN already decreed these funds should be returned to Iraq...we are watching this closely. MarkZ Question: Just thinking out loud here, is it possible to get the REER, on Sat and get paid on the 21st? Mark: It is absolutely possible. Similar to how Kuwait did theirs…. In a nutshell…Kuwait got a REER (Real Effective Exchange rate) and within 10 days we started exchanging.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 You're going to see the new exchange rate before you see the budget. Militia Man Community Comment: "I understand the need for diplomacy, but Iraq needs to step back from Iran politically...Al -Sudani needs to be careful! Trump is going to come down hard on Iran and I hope Iraq doesn’t get in the way." I understand your view. We report what is in reality and happening during a global event too. Like it or not Iraq and Iran are linked...My bet is Iran is capitulating for a very big reason...The news is the news. We watch what happens and report it. Mnt Goat Article: “NO FEAR FOR THE REGIME IN IRAQ AS LONG AS AMERICA AND THE RELIGIOUS AUTHORITY ARE “SATISFIED”… THE GOVERNMENT IS HEADING TOWARDS “INDEPENDENCE” ...Iraq must gain their independence not just on paper but in practical terms. Now that the Chapter VII sanctions are released for over 2 years already it is time. The next stage is full sovereignty promised to the Iraqi people during the second invasion in 2003. Yes, they still are not a free country until they get back their currency, which means to control their own wealth. Also I want to mention, the CBI reserves are in the bank in New York JP Morgan/Chase DFI fund amounting to over $120 billion dollars. And so Iraq will also have to recover these funds too. The UN already decreed these funds should be returned to Iraq...we are watching this closely. MarkZ Question: Just thinking out loud here, is it possible to get the REER, on Sat and get paid on the 21st? Mark: It is absolutely possible. Similar to how Kuwait did theirs. In a nutshell, Kuwait got a REER (Real Effective Exchange rate) and within 10 days we started exchanging. Frank26 The auctions have metamorphosed, they have evolved...they have progressed to what is now called international foreign currency transfers and it's being done by private banks...You think the currency auctions that once existed that Iran was taking advantage of are still active? You're wrong. You're ignorant. Transfers, no longer auctions. This is not taking a currency and converting it into any other currency. This is moving a currency in and out of the country they could never do before. Don't you understand the value of that? Don't you understand how important that is for the monetary reform? Ain't got nothing to do with the CBI. It has to do with the private banks exchanging between each other and across the borders. Jeff January is a very critical month for the rate change. Shabibi back in January 19, 2012 did a four-point rate change from 1170 to 1166. Militia Man There's some people out there that talk about the fact that the dollar auctions haven't changed. That's wrong...you should already know this by now, it's called the new reinforcement mechanism. Articles specifically tell you the dollar auctions...are no longer, at all. Everybody that is going to get a dollar from anywhere in Iraq is going to come from this new mechanism and that's a fact.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Question: if Iraq is increasing her foreign reserves through correspondent banks, isn't that international trade? Mark: Yes and that is why some are getting excited. Kaperoni Question: "In reading these articles, I find they contradict each other. I remember a few months ago that only 13 banks were not in compliance with CBI standards. Today, I read 32 banks have limited functions. Is this difference between gov banks and private banks, or am I still in the weeds trying to understand foreign banking?" Some of the recent articles are opinion articles. Sandy Ingram In the 3rd quarter of 2024 the Central Bank of Iraq reported steady growth in both bank deposits and cash credit across state and private banks. Article "Iraq's bank deposits reach $97.32 billion in 2024's third quarter" These figures highlight a positive trend in Iraq's banking sector with increased confidence in both savings and lending activities across the country. Pimpy The last time Trump was in office, we became the #1 exporter of energy which affected oil prices and affected Iraq. With Trump coming into office, we're going to quickly see what kind of impact he has on Iraq and the oil market...All we can do is sit back and watch. If Iraq thinks it's going to go in the same direction as it did last time and the value of oil per barrel goes down, which could hurt them big time. PompeyPeter They won't carry on until they have something out on Forex. Let's not forget the importance of that because that's attached to WTO. I think that's an enormous indicator of where we're at. They've got to pull the plug. They've got to show that rate internationally on Forex even if they show 1310, which they won't because they'll implode economically, but they've got to put something up on that board. They've got to show the international world the currency. It's got to be up there. Frank26 Soon I will be receiving, god willing, thousands and thousands of locations where you will be able to exchange. Not the ones where you call the US Treasury, where they tell you all the banks in America where you can exchange. Not that one. The one where the CBI is releasing thousands of banks all across the world. Those banks are going to collect the 3 zero notes...Michigan and California are the number one states. Jeff Up Until, through the end of September was the government's busiest time period for having and holding sessions of parliament, getting record steps done, all in preparation for them to revalue. Since September they only got a few odds and ends done. Why so little? Because they have a rate change date and they are working around that date awaiting the revaluation. In this month of January you're witnessing them on a small level starting to implement their banking reforms via what they're doing through the currency auctions. That's another critical preparation step for them to revalue the currency... Militia Man Article: "Al-Sudani in Tehran: A new alliance to confront terrorism and the challenges of the post-'fall of Syria' " Iraq as a mediator in the region is going to go along way to keeping stability. There have been meetings with the "new" USA administration by phone at the highest level and an unannounced delegation from the same prior to his Sudani's visit. He is home now. I imagine things went well for all included. Like it or not Iran is a very large trading partner. There has to be a very strong agreement by all parties public and private. Iraq is taking her place again in the region. She has always been in that position as mediator. MarkZ [Rumor]⚡ Things are looking good and there has been a lot of activity. Suddenly a lot of banking contacts have been checking in. Which is exciting. I have had 4 confirmations from banking contacts that I have known for yea, they are telling me now to prepare for new rates. One of them said “It looks like that thing you are expecting is happening by Saturday. New rates by or on Saturday”. Stay calm though. Pure BS in my opinion..! Yada Their banks are now handling all the currency exchanges from the region and around the world. Not just the dollar, they are exchanging dinar and the increased value is about to be seen by us.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Walkingstick The fact that Sudani is talking so much about the purchasing power to the Iraqi citizens is amazing...It puts us exactly where we need to be with this monetary reform education...IOO no prime minister has ever made such bold promises to the citizens of his nation. These conversations of giving purchasing power to the citizens have never been seen in the Middle East nor said by a prime minister of the Middle East. Militia Man Article Quote: "The Central Bank of Iraq and the US Federal Reserve are moving towards authorizing Iraqi banks to contract with international auditing companies." Why is the world would you be doing that if you weren't going international? You wouldn't. We're not talking about the central bank or the state banks, we're talking about [private] Iraqi banks. Quote: "This step is a turning point that contributes to drawing a clear map for the work of Iraqi banks on the global stage as they deal with international correspondence and financial guarantees in addition to instant transfers." Jeff Nope, they haven't stopped [the "auctions"]. They're resuming. They sell U.S. dollars daily abroad...because Iraq doesn't have a tradable currency. These remittances will continue until the rate changes. The only real change that's happened is the dollars, they are transferred now at the banking level instead of the central bank level. They're preparing the banks to be able to transfer foreign currencies abroad and be ready for the rate change when it occurs.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Sacramento California Chase bank story] A: [The wealth manager] before he even sits down, the first thing he said, you're right. Right now we don't exchange [Iraqi dinar] but 'when it goes live' we can help you right over there and he pointed to the tellers. I said do you guys verify on site? He said yep, when it goes live you can just go stand in line right there, they'll run it through the machine, and then it will be right in your account - no hesitation. It was almost like he was saying, we're waiting for it to go live too, is how I took it. Frank: Nobody knows when, but they all have been put on alert. That's why the mantra, it's a scam is no longer to be found anywhere. It has become extinct because they are preparing to deal with this. [Rumor] Samson Article: "**GOVERNMENT ADVISOR : NON-OIL GDP GROWTH RATE IN 2024 IS UNPRECEDENTED"**" MarkZ [Rumor] It’s been an exciting morning. Been proving and disproving pictures of lower denoms. There is a good chance one of my Iraqi contacts will be sharing pictures of the new Iraq $20 note today. We do not want to get folks hopes up falsely. So doing more vetting today. The conversation in Iraq is small denominations /notes. Why would they release small notes unless there is a value change?
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Jeff Iraq's critical laws at this point are waiting for the rate to change. Iraq has not held a session of parliament since September 28th. Critical laws, not draft laws, are waiting for the rate to change. That's why they have not held a productive session of parliament since September 28th. They're going to resume their session of parliament after January 9th. Clare Article: "Government Advisor: Non-oil GDP Growth Rate in 2024 is Unprecedented" Quote: "The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed...that the growth rates of the non-oil gross domestic product will rise in an unprecedented manner during the year 2024" Pimpy They are talking about increasing the value of the United States dollar over the dinar. The opposite direction we wanted to go. I told you there was talks about this before. This is 'only talks' that the Iraqi dinar is going to lose value
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy says month of January is critical. FRANK: Yes, it is critical in the sense they are about to give you your purchasing power because the evidence points solely in that direction. There is no other option, there is no other choice. Mnt Goat Article: "CENTRAL BANK ANNOUNCES MAJOR ACHIEVEMENT IN FOREIGN TRANSFERS" Quote: "This achievement is a radical transformation in line with the best international standards and practices to achieve a stable and secure financial system" So where is the RV then? Why still at 1/6 of a penny? MarkZ Question: is the dinar floating? Mark: its floating in the parallel market in a direction that supports us. It was 1500 a few days ago in the parallel markets which mean we are watching the dinar gain value in the free market. They are changing how auctions work and want us to know why.
- 1 reply
-
- 6
-
-
-
- article
- boots-on-the-ground
- (and 2 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: The feel on the streets we citizens know a new rate is coming! Everything is pointing to to this! FRANK: I agree with you. I can feel the rumbling of the earthquake that will bring you your monetary reform, purchasing power. Things are getting very exciting. Clare Article: " 'Changes are coming inevitably' . What awaits Iraq after January 20" Quote: "Iraq will be part of the new Middle East, this is what a number of observers expect about the next stage after Donald Trump assumes the US presidency on Monday, January 20...Trump's strategy will depend on severing the relationship between Iraq and Iran once and for all. That is, Trump will not rely on the gray area in which Iran's allies maneuvered in the past. Therefore, the current and future Iraqi government will have to reveal the truth about its relations with the United States of America, and Trump will not accept a government that is an enemy of the United States of America...If Al-Sudani's government does not abide by Trump's conditions, there may be some alignment between Washington and Tel Aviv to stop this Iranian influence inside Iraq." Militia Man The next step is to do global transactions against other currencies in dinar and other foreign currencies. They will become similar to foreign currency in International terms. I don't believe it's going to be at 1320 for the dollar. It will not work as a REER. From today, banks are closed and will not open in Iraq until next week...Monday is a national holiday, Army Day...It definitely looks like a timed mechanism in many ways. Jeff There's a lot of rumors...talking about how the rate might change on January 6th. Disregard that. I can promise you the rate is not changing on January 6th. I'm going to give you a date in this and it's opinion-based so this may or may not happen. If the rate it going to change, because we don't know if the rate is going to change in the month of January, it will be sometime in the second half of January after the 15th. That is a promise. It has to be after the 15th...The rate cannot change before the 15th. And...it can only change on what is their Sunday...So it has to be on one of their Sunday's after the 15th. Again, we don't know if the rate is changing in January at all. We do know January is a critical month.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Auctions in Iraq have been occurring. I was told by a contact over there that this is the final part of their de-dollarization. Article: “The Iraqi dollar and the first day “passed peacefully” The Central Bank is innocent and free for the dinar” According to Iraqi Press today is the first day without the auctions. I am feeling good about auctions ending which should mean a new rate. I am told Iraq was reducing their reserves to de-dollarize the market. This in anticipation of a rate change. Militia Man [Iraqi] Banks are closed. Sudani said he was going to make the dinar stronger than the dollar. I think it's going to still hold true. I think that's the expectations of the world. We're going to see that happen. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy says everything is in place in his eyes. The only thing Mr. Sammy thinks we need is for Iraq to reveal a new rate to show and back the stability of the dinar as a new global currency. FRANK: Yes sir Mr. Sammy because that's what the contractors are waiting for. Jeff The auctions have completely turned to normal...Absolutely nothing has changed, everything has returned and restored back to normal...Even though the auctions are normal the significant step in this is the auctions are remaining at elevated numbers because what they're doing is Iraq is emptying their coffers and getting rid of the US dollar preparing to revalue. That's the critical piece of this...But for your own knowledge and information...the auctions have absolutely returned to normal.
-
- 3
-
-
-
- article
- boots-on-the-ground
- (and 2 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Article: ”Within a week, Iraq surpasses Saudi Arabia by exporting 212,000 barrels per day to America” More than twice as much as Saudi Arabia. This is huge. Harlequin3 On Jan 1, the auctions stopped and became foreign reinforcements. The CBI is NOT selling money to the banks anymore - the banks MUST go get their money from OTHER banks outside the country (currency swaps, which is the essence of ForEx.) All the CBI is doing is watching this now, making sure it's legit. Eventually, the dinar will float in this basket, and ForEx will look like a heartbeat. But all that goes to say the auctions HAVE stopped. What you are seeing is "foreign currency reinforcements" not an auction -- the CBI has NOTHING to do with this money, it's between the two correspondent banks, and CBI is only auditing the transaction. Without the auctions - there is NOTHING manipulating and propping up the 1320 rate - so what are they going to do? ⚡ Raise the value.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 The evolution, the ebb and flow of the emotion of Iraq with the citizens concerning this monetary reform has been one moment high, one moment low, one moment high, one moment low. I'm here to tell you it evolved to nothing but high. The citizens of Iraq are so well educated and they know who the enemy is in the same way here in the United States of America... Militia Man To be a global economic power [Iraq's] exchange rate will need to be far different than 1310. It's just the way it's going to be. They haven't done anything yet. They're hiding things when it comes to that. Jeff The currency auctions prior to the beginning of November were averaging around $250 million daily. Since November they've remained elevated about $280 to $300 million daily. They're emptying their coffers of the US dollar prepping to revalue. MarkZ Comment: They are supposed to certify the election and Trump as President on Monday…that could be big. Mark: Seems like a lot is scheduled to start on the 7th after the certifications on the 6th. Maybe it’s a coincidence and maybe it’s not. Samson Article: "Between the American hammer and the Iranian anvil: Iraq reshapes its future" Quote: "With conflicting reports about Iraqi Prime Minister Mohammed Shia al-Sudani’s visit to Iran..."
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Question: "How many major banks are there participating in the exchange?" I don't know that yet. But I believe that every major bank will be involved. Samson Article: "Central Bank: Work on the electronic platform has stopped" MarkZ In Iraq-It appears the final step in de-dollarization is happening, that is what I was told, although my one contact told me to not worry and this is de-dollarization before the change; but, the Central Bank of Iraq is claiming they sold one billion in 4 days. They keep saying auctions have stopped but we are seeing evidence they are still moving foreign currency. We are not sure what is going on – but we are watching it. Things are quite confusing. Jeff One of the things the central bank is stating they're going to do is end that old electronic transfer system that exclusively works with the dollar and transition to a different type of banking system where the local Iraqi banks can start doing their own sending of foreign currencies and no longer just the dollar, multiple different foreign currencies abroad. It's called Direct Banking. But to do that the US sanctions need to be lifted off of Iraq. That's why this whole time they've only been able to exclusively work with the US dollar. Militia Man There's a difference between the dollar auctions and the reinforcement mechanism that they use today. Militia Man and crew have been quite clear that there's going to be a change - The dollar auctions are going to stop and there's something different. [We] have been spot on about the fact that the dollar auctions are going to go away and they have. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is doing 11-page document, we've seen it before but they're reshowing it to us. It's instructions to all the new money exchange centers that have been opened up on what they can accept and how much to give on damaged notes being returned by citizens. It's like they are telling exchangers a lot of the 3-zero notes are about to be returned. FRANK: That's exactly what they're doing. Like I told you, these banks would be very essential...Collecting the 3-zero notes is going to be massive... MarkZ Question: Where will the new rate show first? Mark: If it follows in Kuwaits footsteps – it will quietly be released. Maybe people will do some exchanging and then it will show publicly on forex. But, In today’s world and the speed of the internet - my guess is we will all see it at the same time. You guys will probably hear it first from folks like me and then we will be able to look at it. That’s my opinion. Frank26 The fact they are about to [or have] stop [stopped] the auctions means it has to be replaced with a new exchange rate to add value to your currency. If all of these things are true from Sudani, then another thing is true IMO; the lower notes they're going to give you are now in position, ready, loaded to go, ready to be given to [the Iraqi citizens].
- 1 reply
-
- 4
-
-
-
-
- boots-on-the-ground
- article
- (and 2 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "After the electronic platform stopped...Answering questions from Iraqi circles about the new dollar mechanism" Quote: "Deputy The Governor of the Central Bank, Ammar Khalaf, said yesterday that the mechanism of work on the electronic platform related to foreign transfers has stopped working, but financing foreign trade continues through correspondent banks according to different mechanisms that are parallel to what is in effect in countries around the world." Jeff They're implementing their banking reforms. You have no idea how close you are to this rate change. This is Iraq implementing their banking reform right in front of us. The electronic platform for selling dollars has been suspended. That means the currency auctions have ended. That's a critical piece to this. That's the banking reform getting implemented. That's Iraq preparing to revalue their currency. That makes this month of January extremely critical regarding our investment and the revaluation of Iraq's currency. Militia Man Iraq doesn't have coins today. They haven't had them for 20 something years. Now all of a sudden they have a commemorative [tourist] coin and they talk about currency, a special stamp - it's a special occasion.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 This is extremely important you understand this. It is projected at the end of this month on the 31st that the auctions will come to an end. Therefor the next day the citizens of Iraq will be looking for something to use. They will demand a dollar because that's all they know and they will be rejected. The demand for the dollar will increase. The black market value will increase for the dollar (which is not official, which has no meaning, no value to the CBI). But for at least maybe until the 7th. Why? Because on the 7th Sudani has ordered parliament to finish and sign off everything on the budget. If not, he'll take care of it. One week of bubble. That makes sense. I like it. MarkZ Article In Iraq: “More than one billion dollars CBI sales in 4 days” yes we did have foreign currency auctions this week. All eyes will be on Monday to see if they continue or do not continue.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "Prospects for the Iraqi Economy: Challenges and Opportunities to 2025 and Beyond" Quote "The International Monetary Fund (IMF) provided a detailed assessment of the Iraqi economy. The Iraqi economy contracted by 2.2% in 2022. The Fund expects the economy to grow by 1.4% in 2024 and 5.3% in 2025. However, the Fund warns that Iraq’s fiscal position remains worrisome, with the budget deficit expected to widen to 7.6% of GDP in 2024, compared to 1.3% in 2023. It also expects government debt to reach 48.2% of GDP in 2024 and 54.6% in 2025. By 2025, the Iraqi economy is expected to begin a significant recovery, with strong growth in its non-oil sector and increased investment in areas such as technology and infrastructure. If the required fiscal and structural reforms are implemented, Iraq may be able to reduce its dependence on oil and strengthen its private sector."
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is talking about the discussion for adjustment to have a new exchange rate. Can you believe that Mr. Frank? Every day they tell us they're going to give us a new exchange rate...You know why they're telling us they're going to give us a new exchange rate? They say since the auctions are stopping. FRANK: Tell parliament to moooove over...The cash cow is coming to an end... It's coming, that's all there is to it. Clare Article: "Iraq Stock Exchange Ranks First in the Arab World in Trading Volume for November" Quote: "trading volumes achieved a growth of 131.24% during November 2024 compared to the previous month, thus topping the Arab financial markets in terms of growth rates." Kaperoni Question: "Rumor is that the dinar has RV'd. Have you anything to say about those rumors?" Kaperoni: Currencies of a country are not some lottery ticket. They represent a country, and if a currency is ever going to go up in value, it will be based on the success and economic growth of that country. Iraq is trying to rebuild their country and diversify their economy. Iraq has made a lot of progress over the years rebuilding, but still has a ways to go. If Iraq can create a market economy, and diversify away from oil, we may see some improvement in the value gradually as a result. But there is no significant RV like the gurus talk about.
- 2 replies
-
- 5
-
-
-
-
- boots-on-the-ground
- news
- (and 2 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Militia Man They changed the name to currency window as opposed to auction. That represents foreign currencies. Article Quote "This platform will be stopped at the end of this year." The dollar auctions as we know them are going bye-bye by the end of the year. That doesn't mean the 31st, It means - coming at any time.
