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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... RON ** Sandy Ingram Exciting news..Article: "Iraq Revenues to Exceed $150 Billion" *** Frank26 [Iraq boots-on-the-ground TV report] FIREFLY: CBI governor was meeting with the IMF and World Bank and Finance Committee on the mission review for Iraq talking about financial reforms and he talked about exchange rate. FRANK26: It's getting hot in here! This IMO is the culmination of all these meetings. They now have an understanding of what their mission is to accomplish. *** MilitiaMan Article: "Parliamentary Finance Reveals A New Inquiry To The Federal Court Regarding The Food Security Law" We can see there is a seriousness with this emergency food law. The fact that the GOI and the Finance Committees are in talks now, is very important with respect to timing...The law contains a very large financial mechanism...So large they were not given it out, until now... The vote is slated for tomorrow....The street (vulnerable) is in expectation of their constitutional entitlements that are apart of the law... Looks like show time is in close proximity..imo *** Mark...in Iraq they are still talking back and forth about when they are going to read the Food Security Bill again. It is still expected this week.... My guess is the RV news will be very quiet until around Monday the 30th based on the holiday weekend... There is not a lot they need to say between now and then so believe it will be quiet. [This has to be the calm before the storm….] Exactly…I think that is where we are at right now.
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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... RON *** Pimpy Article: "Iraq's political stalemate raising changes of Shia on Shia clashes" It looks like it's about to get ugly over there...I'm anticipating a civil war to be honest with you...this is what we don't want. Hopefully a situation will be panned out...if they go to civil war [hopefully] it happens quickly and isn't drawn out for years. As far as Iraqi dinar exchange is concerned - any change of it whatsoever not if there's any type of armed conflict that's for sure...that's the cold hard truth. *** Samson Article: "The Central Bank : The implementation of the terms of the White Paper revived the Iraqi economy" Quote: "the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, confirmed the recovery of the Iraqi economy as a result of the application of the white paper."
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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... RON ** Samson Article: "Finance Minister: Cash reserves will reach more than 90 billion dollars by the end of 2022". Quote: "Iraq is approaching a record cash reserve..." ** Frank26 [Iraq boots-on-the-ground report] FIREFLY: Iraq made lots more off of the auctions last week. A good sign to the strength of the dinar. Oil and Gas Law being presented this week... FRANK: Many of the instruments used to give you purchasing power are being shown to you. The very last things will be a new exchange rate and the new small category notes...the are also showing you the HCL...money is pouring into your country and then will pour into your hands. ** Godlover Article: "Parliamentary movement to pass the retirement and social security law" Now this is an interesting article. One would think that the 2022 budget would be needed for the retirement & SS laws to be implemented. With that said, we know from numerous articles that the food security law has a budget with it (hence "synonymous" with the general budget). [Post 1 of 2] ** Godlover [Question: Would they use the food security law & budget for the retirement & SS law?] Time will tell. I am still hopeful they bypass the "filler" (temporary) food security law & just focus on implementing the 2022 budget after the completion & announcement of the new government. [Post 2 of 2] ** Mnt Goat I am getting information both from Iraq and from the US Treasury indicating that the formation of the new government is close at hand and will be announced soon. The rate of the dinar in the system is now over $6 however I am having a difficult time grasping my arms around this rate. I can not believe they would actually start at this rate. It...will probably come out at around $3+ or maybe low $4. But this is just my observance of studying this situation for over 17 years now. How in the world is he getting this kind of info from Iraq & the UST. Very improbable, but it would be wonderful for us if true. As always, we wait and see if true or more BS..! RON
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*** Clare Article: "Efforts for a “legal justification” granting Al-Kazemi’s government the authority to send the budget to Parliament" THERE IS AN OPTION TO PASS IT UNDER KAZEMI, WITHOUT THE SEATED NEW GOV...IMO Question: "I understand that it can pass with Kazemi. My question is do we still have to wait for the RV even if the budget is passed due to the fact that there is still a caretaker government?" IMO - NO...BECAUSE IT WILL ALL BE EXPOSED!... THEY WILL RELEASE ALL THEY HAVE BEEN HOLDING BACK FROM THE CITIZENS OR THEY MAY HAVE THE TIMING OF THE NEW GOV WORKED OUT WHERE IT ALL SHOWS TOGETHER...WE SHALL SEE..! ** Pimpy Article: "For the seventh consecutive day...Iraq without deaths from the Corona virus" We all know that's good news because it allows them to open up everything and get back to business as usual, as quickly as possible until...
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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... RON *** Breitling Question: "Any word anything happening with Warka [Bank in Iraq]?" All the banks in Iraq are in the exact same position and all their currency is guaranteed by the CBI...the money is still there and it's still backed up. We just got to wait it out...I have a ton of money in Warka so I'm in the same boat. We just have to wait it out and see how these guys open up the doors. [Post 1 of 2] *** Breitlin People want to pull their money out now and I understand that but when they start adding value to the currency...how fast can we pull it out? What's the limit per day? ...they're still there. They're still good. And they're still 100% insured.[Post 2 of 2] *** Militiaman Article: "Al-Ghazi: Establishing welcome yards at border crossings contributes to simplifying procedures and reducing corruption" To get to a market economy, there will need to be compliance with the IMFs Article VIII. Lets not forget that the WTO is in the wings, as well...The UST has this week again noted that there is to be 137 countries that will be applying 15%+/- Taxation and all will be digitally applied...Bye bye corruption.[Post 1 of 2] *** Militiaman So many things that are now working in parallels from taxes, tariffs at borders, the arrests for the corrupt, the pressures from the UN and even...by an International Justice Minister arriving of late. The world is watching and helping all they can along the way...It is looking to be about that time where they put the exchange rate into gear.[Post 2 of 2] ** Mark ...this could be a possible big weekend…it’s a 3 day weekend with Memorial day. The goal was always to release it on a 3 day weekend. We are in a great spot... I always thought it was to be a 3-day weekend in Iraq. Why here..? RON *** Frank26 IMO there will be two meetings. This will be the CBI, the government of Iraq - Kazemi, Minister of Finance, Minister of Planning, they're going to bring in members of parliament. IMHO on what they are going to be talking about Tuesday and Wednesday and eventually tell you (or not tell you but tell the citizens and you'll get it indirectly from FIREFLY boots on the ground report.) it will be a review/discuss the ATM machines in Iraq.[Post 1 of 2] *** Frank26 Not only the government ATM machines but the private banks of Iraq ATM machines and they also will be talking about the ATMs that are owned abroad around the world internationally ...Why is the CBI going to discuss what they have accomplished with these ATMs not only inside of Iraq but also the ones that are all over the world international in private banks? (Remember the private satellite banks? Good.)... they are talking about the new small category notes. [Post 2 of 2]
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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... RON *** Kaperoni ...Breitling thinks that if you believe Iraq is going to LOP you should not be in this investment. That's... smart...for the past 10 months or so the symposiums in Iraq have been educating the citizens about a currency exchange/LOP...it does not necessarily mean that is what is going to occur. In order for them to do a currency exchange, the CBI, IMF and parliament would have to approve such an event. [Post 1 of 2....stay tuned] *** Sandy Ingram Article: "Iraq surpasses Saudi Arabia in oil exports to America" Quote: "U.S. Energy Information Administration 'Iraq's oil exports to the United States reached an average of 326,000 barrels per day last week" This is excellent news for Iraq... *** Pimpy Article: "About a billion dollars in bank sales in a week" Nice. This is the auctions that they're talking about. They could just add that much more to the reserves. The auctions - what happens is...the oil is sold in petrol dollars (United States dollars)...then the oil company takes those dollars and gives them to the banks, the banks then auction them off to other countries who pay in their own currency, then Iraq Central Bank takes money from those sales and adds it to the reserves. The stronger the reserve the more they can secure their own economic strength as well as strengthening the Iraqi dinar...
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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... RON *** Kaperoni A country's currency value is not a random act. A country's currency value is determined by GDP, the amount of currency in circulation, the success of a country's economy as well as the type of exchange rate regime such as a float, basket, etc that it's in. Nothing is random. *** Mark [ Nader of the middle east...mentioned] ...that the recent audit by the IMF stating how things are financially fantastic over there, but they need to take care of their less advantaged citizens and that they need to increase their rates. He also talked about how soon it should be. That was a discussion in Iraq yesterday...in their mainstream news they are saying now that they have balanced their books and paid all their debts it is time to change that value…soon. *** Sandy Ingram Article: "OPEC increases Iraq's oil quota" This will allow Iraq's oil revenues to increase even more. OPEC has reportedly agreed to increase Iraq's oil production to 4.5 million barrels per day in June of 2022. *** MilitiaMan Article: " Khazali reveals that al-Sadr accepted deputies from al-Maliki's coalition to form a government and urges him to take an order" We will be watching closely from here on out...They have pressure on all fronts now from the looks of it politically. As for the finance side of things the CBI, IMF and World Bank have had good reports and finished missions. I see this all coming to a head now. They all know that if they don't act they will not survive...follow the money... Leaks suggests there is about 12 billion to watch...IMO.
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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... RON *** Pimpy Article: "IMF Staff Concludes Staff Visit to Iraq" For people who are invested into the dinar this is the type of thing that we want to see... Quote: "real non-oil GDP rebounded by an estimated 20% and is poised to expand by around 5% this year..." That's exactly what we want to see - expand the non-oil GDP. Remember the budget relies way too much on oil revenue..[Post 1 of 2] *** Pimpy Quote: "oil output is projected to reach pre-pandemic levels and bring overall real GDP growth to 10%..." That number keeps going up and up! It was 6.8, then it was like 8 point something and now they're saying 10%...if they manage to get any real GDP growth this year without a government or...budget it's going to be pretty amazing... Quote: "current account balances are projected to post double-digit surpluses in % of GDP." That is awesome. Surplus means they are definitely under budget..[Post 2 of 2] *** Mark More news from inside Iraq… They are...discussing oil revenues and the abundance coming from it. They also discussed the IMF audits and the need to go ahead (in the very near future) and increase the value of the Iraqi Dinar. I thought this was great news.
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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... RON *** Clare Article: "Iraq achieves a financial surplus of more than 11.4 trillion dinars in the first quarter of 2022" *** Militiaman Article: Al-Ghazi: Establishing welcome yards at border crossings contributes to simplifying procedures and reducing corruption" They have been working on this for some time and are in the advance stages now, imo. Likely to be a key factor now in the implementation of a new exchange rate to come from the CBI.
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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... RON ** Godlover Article: "Several scenarios in front of Iraq in light of the continuation of the government complex" This is not a scenario I wish to see take place because then it would very likely be a long process. As well, this is where the food security law comes into play, to give their citizens immediate relief until they can get a new seated government & then work on the 2022 budget. ** Clare Article: "The Governor of the Central Bank of Iraq participates in the closing meeting of the World Bank mission" Quote: "...to enhance support for the Iraqi financial sector reforms program... at the head of a high-level delegation from the Central Bank and representatives of the Ministry of Finance...It was agreed to continue joint cooperation between the above-mentioned entities to increase financial depth..." BOOM!!!! (thumbs up)...THEY ARE WRAPPING IT UP...NOT MUCH LONGER TO WAIT..!...IMO. ** Nader From The Mid East Small denominations - they're removing the zeros but they didn't show us nothing yet. Nothing is in the street. Nothing. We didn't see nothing on TV. Nothing in the banks. Nothing. They keep talking about about it. Even the bankers I kept talking about they kept saying stuff about it but we don't know...things are moving in the right direction but still a lot to do... ** BobTheTaxMan Question: "Any word anything happening with Warka [Bank in Iraq]?"...I've chased them down and saw them so they're still there. They're still functioning. They're working with the CBI to get some things straightened around. They haven't gone anywhere. ** Breitling Question: "All this political stuff going on trying to establish the government...Do you think it has any correlation with them raising the value?" There's probably 3 or 4 sides, they're all in agreement - They want to add value to the currency...how they're treating banks, the laws that they're passing and all that stuff none of it's being blocked. I can't think of one Iraqi that doesn't want to add value to the currency...They don't need a government to add value to the currency... ** Mnt Goat ...we know now that this blessing upon us is just around the corner...I personally do not see us getting out of this year 2022 without the reinstatement.
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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... RON ** MilitiaMan Establishing the border crossing with an automated system with e-governance is key to getting the private sector on a level playing field. The General Authority for Taxes is in line for completion of the needed automation as well. They...are in the advance stages now, imo. Likely to be a key factor now in the implementation of a new exchange rate to come from the CBI. To get to a market economy, there will need to be compliance with the IMFs Article VIII. Lets not forget that the WTO is in the wings, as well...It is looking to be about that time where they put the exchange rate into gear... imo ** Mark Article: “IMF Staff Concludes Staff Visit to Iraq” This is breaking news. It was in a number of news papers and publications. The short version is Iraq is doing exceptional things …Their economy is strong because of oil prices, but they still need to provide food, medicine and security for the poor. I think it’s a push to say Hey-you guys got everything right so now you can take care of that last piece.(RV) ...hopefully this IMF visit was one of the last steps before this release. ** Godlover ...We await a new government seating or the current government officially announced & then we can see what happens with the 2022 budget. Currently they are on the 1/12 system from the previous years budget & if the FSL [Food Security law ] is passed, it too will be based off of the previous budget & the surplus from high fuel prices, etc. God willing the new government & 2022 budget will happen soon & I pray that we see what we all seek within the 2022 budget. ** Sandy Ingram Article: "Iraq faces vital services crisis without budget as politically rivals bicker" We have seen major accomplishments in the past couple months however the country appears to be at the end of the road...Iran-backed supporters are not comfortable with the election results...our interest is in Iraq's finance, the Iraqi dinar exchange rate and the progress the country is making towards financial resolution for the currency yet we cannot ignore the fact that much of the finances, if not all of it, is controlled by who is in office... ** Mark Many articles out today about the first draft of the Food Security law was voted on and passed…the second has still not happened but being discussed. An interesting view from Nader in the middle east [reference Nader's post below] – he does not believe in any way that the rate is in the Food Security bill… I...have one contact in the middle east who told me that no...the rate is not in the Food Security bill...I am waiting to hear back from a couple other sources on this topic to see if I can get something solid. We need to stay grounded on what is realistic and what is just hopium. ** Nader From The Mid East They read the first and the second text before tonight to finish the third text [of the Food Security Law]. That's good news. But...I don't know why they keep saying they got something to do with the exchange rate. This has nothing to do with the exchange rate. We don't even know if it [the new rate] is in the budget. That is the truth. I don't even know what's in the budget. No body knows. They keep saying It's in the budget, yeah, I'm sure something is in the budget but we don't know what it is.
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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... RON ** MilitiaMan Article: "The Central Bank of Iraq 75 years in the face of economic challenges" The take away I see is they have accomplished the necessary goals to get them to the advanced stage of going into a market economy...They have been taken out of the Gray area, removed from sanctions of Chapter VII, accomplished E-Government, E-Payments and Automated the borders and ports and increased revenues outside of oil..[Post 1 of 2] ** MilitiaMan When the Central Bank talks we should listen. They use the wording 'advanced stage' now.. They use the terms 'Market Economy' now.. Well, once Article VIII with a new rate they'll have the Entitlements and Food Security in the bag... Very promising and timely article. imo..[Post 2 of 2] ** Pimpy Unlike when Al-Kazemi took over as Prime Minister he had a short term...about two years in office. Once the government is formed they are going to have a normal four years to get business done. Depending on what government they get in there will make a world of difference as to whether or not the exchange rate is going to change..[Post 1/2] ** Pimpy Remember you need a steady government, one that's not corrupt, a steady economy, strong GDP, your country has to be able to attract outside investors who are interesting in investing into your country and the future prospects have to look really good. You also have to have a strengthening currency. All the possibilities are there for Iraq..[Post 2 of 2] ** Frank26 Article: "Finance holds a consultative meeting to implement two systems...and reveal their benefits" EVERYONE IS AT THIS MEETING IMF, WB, CBI, FM, ETC.
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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... RON *** Militiaman Article: "Parliament will not obligate the government to send the general budget .. and food security will be a temporary alternative" ...The part of this that may get over looked is that it is rate oriented. Notice they don't mention it. They can't. But, they will. imo Like they said. The Emergency Food Law is "Synonymous" with the 2022 Budget Law. Get ready.. imo. *** Nader From The Mid East It's gonna be a lot of changes. Until the end of week you will see a change of parliament, change of CBI people, change health department, education, of everything. Everything is going to be changing. The only thing they are not going to f%$$#$ change (sorry about my language) is the money. We're still waiting. And waiting. And waiting. They're talking about having a new currency...They didn't show us anything yet...next week I think more news gonna come out. Better news. Important news... *** Kaperoni The latest articles I've seen indicate Iraq now has over 103 trillion dinar in circulation, one report states 50 trillion is in the homes of Iraqi citizens because they don't have confidence in the banks. Even the idea that Iraq could significantly RV the Iraqi dinar with that much currency in circulation is nonsense...Iraq's entire net worth including minerals and oil in the ground is $16 trillion dollars. *** Sandy Ingram Question: "Which banks take Iraq dinar at this date and time?" In this article "What Banks Take Iraqi Dinar?" we learned that there are 3 banks that you can exchange Iraqi dinar in the Middle East. The central Bank, The National Bank of Jordan and the National Bank of Kuwait are 3 banks where you can exchange the Iraqi dinar. So if a group is traveling and it's not safe or it's not feasible to go directly into Baghdad then Jordan or Kuwait is an option. At least that is how it stands today... *** Frank26 Question: Is there something else needed for us to have the RI..? Sit the government. *** Militiaman Question: "what ever happened to to thurs big meeting with sadr cbi and kazammi?" That is a good question... We have not yet heard if the meeting between Sadr, the FM and the CBI Gov. happened or not. We do know and have recently seen that news of important factual items and or issues are late in being reported.
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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... RON *** Militiaman Article: "Finance holds a consultative meeting to implement two systems...and reveal their benefits" ...We expected there to be meetings today with Sadr, Finance Minister and CBI Governor. This is not just getting started, they have the system ready to go and todays meeting is about the process of initiation of implementation of the system. They will be consistent with international programs and systems. [Post 1/2] *** MilitiaMan With all we know the automation of the borders, the AYSCUDA SYSTEM, the BUNA PLATFORM, ISO20022, deletion of the zeros project, etc., we can see there is far more progress in the white paper programs than ever before. The CBI papers show they already printed currency for the project...So it is not surprising that we see the big hitters having a meeting on implementation over advanced internationally acceptable systems...I like what we are seeing. [Post 2 of 2] *** Pimpy Looks like the independents have at least shown a little bit of their hand...they might be heading towards the direction of Sadr. It is not set in stone yet. They're waiting for him to get finished with his 40 days of seclusion. I thought it was done but apparently not... Article: "The Independents are waiting for a position from Al-Sadr after the deadline for the framework expires". I think what they want to know is...if you want us to help you establish the government and take sides against the Coordination Framework what are you giving us. What are you promising us. *** Frank26 Article: "Is it time to delete zeros? Economist commented" MR. ECONOMIST YOU KNOW VERY WELL IT'S TIME... OR YOU WOULDN'T CONTINUE TO BRING UP THE SUBJECT *** Militiaman Article: "Initiating the implementation of a new mechanism to support the validity of the issuance of customs permits" Put this with the meetings with the CBI, the Finance Minister, the IMF, the World Bank, Banks in Iraq, etc...we can see that Iraq is going international and quickly now, as in very quickly!!! It appears that it is all systems go now... Even the deletion of the zeros project is being talked about...we are well on our way for a big change in the way things are going to run and what mechanism they will use. It won't be 1460 imo...[See MilitiaMan's post Above] *** Mnt Goat STATUS OF THE RV...The news is all fantastic and this is moving fast now...The plan is laid out and the clock in ticking towards a targeted timeframe period to begin. Yes, we are now in this period, according to the Central Bank of Iraq, tic toc, tic toc. *** Godlover Article: "Parliament will not obligate the government to send the general budget .. and food security will be a temporary alternative" This food security law was established to give their citizens immediate relief until the new government is officially seated (& announced imo). Then they can tackle the general budget. Again this tells me that they expect the government formation & then the budget voting, etc will take some time. *** Clare Article: "The Iraqi parliament completes the formation of its permanent committees: its meetings will be held starting next week" ** RVAlready I think Maliki is just playing for time, trying to get out of Sadr’s trap. I do not think he is going to escape…Maliki will lose, and the RV will go through…The people of Iraq will win.
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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... RON *** Pimpy We have exchange talk again and everybody knows that's our favorite topic to talk about - the dinar exchange rate! Article: "After its implementation in Iran...Is it possible to cancel the dollar exchange rate in Iraq?"...here we go somebody said exchange rate...not what you expected but it does effect what's going on with the dinar...As more and more countries start to get away from the petro-dollar altogether...they start doing things to help strengthen their own currency. Will this move help strengthen Iran's currency? ...That's why I think Iraq is going to keep close attention to what happens to Iran... *** docmagee94 Article: "Al-Rasheed announces the removal of his name from the international sanctions list". IMO, this announcement is the most significant we’ve had in several months. *** Godlover Article: "Parliamentary Finance hosts the Minister of Water Resources regarding the Food Security Law" This article confirms imo that the government & budget approval is going to take some time to complete. The articles have made it clear that this law was created recently & was to be passed asap to bring a little better livelihood to their citizens until the monetary reforms are released...Most of the articles implied that they needed to give their citizens some relief immediately...This is one reason why I was hoping that this food security law & budget would pass together. *** Clare Article: "The new Iranian ambassador to Iraq begins his duties in Baghdad". HMMM... A NEW IRANIAN AMBASSADOR! MAYBE THAT WAS KAZEMI'S DOING! *** Mark ...in Baghdad today they announced that they are moving the vote on the food security act...to Saturday...I think they have done this because of this... Article: “The name of an Iraqi government bank has been removed from the international sanctions list.” This is more of the dominoes coming into the line. We have also seen the independents putting up a candidate approved by all 3 voting blocks to seat the government. We hear that may be decided on Saturday as well. Makes sense to move forward with all of them at the same time. We also have the resignations of the Kuwaiti Government. This is very interesting timing. I think there is a whole lot lining up for an amazing weekend when you look at what’s happening in Iraq. *** Frank26 Article: "Adviser to Al-Kazemi: The budget is completed, and political pressures have disrupted the approval of the new salary scale" ...WE TOLD YOU WE BELIEVE THE BUDGET WAS COMPLETED LAST WEEK...
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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... RON *** Paulette IMO, we await Sadr to make his move to move forward to get the government formed...there is a seated Parliament but a Caretaker government...the Caretaker government is not fully authorized to carry out all functions and thus can only enact emergency measures to keep the country safe and running. They are NOT authorized to send the budget... *** MilitiaMan Having the HCL, Article 140 being talked about...and the citizens entitlements we should all be very happy that the citizens are about to get what they deserve. With having purchasing power ( Protection ) the citizens will have consistent payments and they'll be able to afford many things and food is one of them... imo HCL is all about money from oil and other *** Clare Article: "Parliament postpones the session of the Food Security Law" *** Mnt Goat Article: "MAHMOUD DAGHER EXPLAINS THE ECONOMIC FEASIBILITY OF REMOVING ZEROS FROM THE LOCAL CURRENCY" As I said we would see more articles on promoting the project to delete the zeros, which we all know must take place prior to or around the same time of the reinstatement. *** Godlover Article: "America announces the allocation of 140 million dollars to support businesses in Iraq" This article has some good, bad & interesting imo The good: Money to stimulate the private sector. The bad: USD instead of their own currency. The interesting: We hear that Iraq does not want to peg to the USD because it is so weak, yet they flood Iraq in USD. Also, if Iraq were to stay pegged to the USD & released their monetary reform, one would think that in itself would strengthen the USD. *** Pimpy They're [Iraq] is gonna have a lot of extra money this year. It's projected that they'll have 26 billion extra dollars. There's a lot they could do with this. Man I can only imagine what Iraq is going to be like in the future as long as they can see from fighting with one another. *** Militiaman Article: "Parliamentary Finance: The Food Security Law is not a substitute for the 2022 budget" ...it is like they have allowed the emergency food law to be a rider if you will. It is in place for the citizens and once they seat the government when ever that may be, the 2022 budget kicks in. They are synonymous. Nothing changes...Imo, the emergency food law, the 2022 budget law...are rate sensitive.
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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... RON ** Frank26 Things are lining up...they are doing everything that we want. For example the ISO. You found out, this is extremely important. Yes, it's important for them to go international but it also was a IMF requirement that they did. All banks by the year 2025 will have to be part of the ISO and get rid fo the Swift. The fact that Iraq is part of it is fantastic. ** Militiaman Article: "Barzani intends to launch an initiative to address the political blockage" Looks like there is more support for interesting times over the next couple days... ** Mark Good Articles from Iraq today: “Mishaan Al-Jabouri: the independents will present Al-Kazemi as a candidate for Prime Minister and we believe he will pass”; - And:- “25 Trillion dinars will be at the governments disposal next week to be spent in accordance of the articles set by the Food and Securities Law“ ...it looks like the 3 parties came together to get the government squared away...I was told they intend to present him tomorrow...and also a consensus on the Food Security act which we were told was crucial for a rate change...[post 1 of 2] ** Mark We also learned they have indeed printed and scheduled the release of their lower denomination bills… This is 3 enormous things that came out of Iraq…and all at one time. I told you guys that once this thing was ready- it would all come together at one moment. It appears that is what we are watching happen. Really positive news out of Iraq...[post 2 of 2]
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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... RON *** Frank Article: "The Iraqi parliament is in the process of issuing a resolution obligating the government to submit the financial budget" FINAL STEPS FOR THE MONETARY REFORM...IMO..! *** Pimpy Article: "PUK: Barham Saleh is a figure acceptable to the framework and the current". Quote: "The Patriotic Union of Kurdistan announce the acceptance of Saleh for presidency of the Republic by the Coordination Framework and the Sadrist Movement" Wow! Something they could agree on...congrats to Saleh as long as he gets in there. But we'll see. Remember the person that actually runs the country is the prime minister...Seems like there is some positive movement in forming the government..! **************
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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... RON *** Deepwoodz [Response to Militiaman below ] Imo…Same wavelength… An independent bloc announces its acceptance of al-Sadr's initiative to form a "national" government. Article: "Al-Khafaji said that "contacts took place yesterday between 35 independent deputies" Last time they had a quorum of about 200 if I’m not mistaken. If 35 were added then… *** MilitiaMan I have not seen one or more articles to suggest that, in respect to June...Even if it is out to June based off news, it is not far off. But, what looks more promising is the following from Sadr... Article quote: "Earlier, independent MP Hassan Al-Khafaji revealed to Shafak News Agency that a meeting will be held by the independent representatives next week to discuss the initiatives of the coordination framework and the Sadrist movement and to come up with a solution to end the political blockage." [Reposted] *** Frank26 The ISO was to put the IQD in a position to go international. For trading International. To pay their bills in their own currency. To deal with cross-border payments. This is huge. It's a platform to go international. This is the window for the IQD to go outside of its borders and float. Or fix it. I don't care you can do whatever you want now...They're going to float it in my opinion.
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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... RON *** Godlover Article: "Last-minute initiatives..."balance of pressure" between the frame and the chest exacerbates the blockage" I am beginning to wonder if this can ever be resolved without another election. Anyway, I can't see it being resolved anytime soon. One or more articles spoke of the end of June to resolve the current political impasse I believe & I certainly would not be surprised. *** Clare Article: "Last-minute initiatives... "balance of pressure" between the frame and the chest exacerbates the blockage". Quote: "With the end of the deadline comes a new failure in the attempts of the framework or the movement to find an understanding with the other forces in order to set a new date for holding a parliament session, dedicated to electing a new president of the republic, and completing the constitutional entitlements represented by forming a new government." *** Pimpy Question: "Which dinar are we supposed to buy?" Nothing before 2003...25000, the 10,000 one in green, 5000...the most commonly bought one is the 25000 dinar. Some people have the 10,000. Some people have the 50,000. I have the fifty thousand, the twenty five thousand, the 10 and the 5 thousand...anything after 2003 should be fine. *** Frank26 [Iraq boots-on-the-ground TV report] FIREFLY: Accounting experts saying deleting zeros would cost the government 6 cents for each note and that it would help citizens carry less money and would be much easier as for accounting issues however this has to be included with the Council of Ministers and Parliament to actually add value for purchasing power...[Post 1 of 2] *** Frank26 [Iraq boots-on-the-ground TV report] FIREFLY:...Deleting the zeros alone does not give increase in purchasing power. It's a collective project. FRANK: This is the time when all they will talk about is the deletion of the 3 zeros from the exchange rate to add value to your currency and you are beholding it. The ISO20022 is the door for your currency to go international. And when the IMF gave it to the CBI last week we all went crazy...[Post 2 of 2]
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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... RON *** Pimpy Article: "Despite the Sadrists' statement, the coordination framework announces an effective rapprochement at the beginning of next month" Here the Coordination Framework announced...everything is honky dory. The coordination Framework will join up with Sadr movement and they will form the largest block. They're making it sound like everything is peaches and cream...only to have Sadr come behind them and deny them all together... *** Frank26 Article: "Ahmed Al-Rubaie to / NINA /: The political forces with a quick solution to the political blockage..and no indications to proceed with early elections" MAY 7TH. *** Clare Article: "The International Monetary Fund expects a jump in Iraq's public revenues of nearly $150 billion" Quote: "it is expected that the Arab oil-exporting countries will witness jumps in their revenues during the current year, in conjunction with the rise in oil prices globally," noting that "it is expected that Iraq's revenues during 2022 will reach 149 billion dollars." And an annual change rate of 73 percent from 2021." *** Pimpy Article: "International Monetary: Iraq's Revenues Will Reach Nearly 150 Billion Dollars In 2022". This is awesome, awesome news. This is something that people should be excited about because this is a big portion of a good reason to change the exchange rate (but not all the reasons)... Quote: "the IMF expected that Iraq will achieve a jump in it's public revenues during the 2022 year...with annual change rate of 73% over the 2021 year." That is phenomenal. That's a huge jump. [REPOSTED].
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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... RON ** Kaperoni Q? : So what is ISO 20022? ... This new standard is simply a new set of international standards and procedures for global financial transactions...These new standards are being rolled out throughout the worlds banking with an expected completion date of 2025. I have yet to see anything that says Iraq is in compliance. And again, it has nothing to do with any RV of the dinar. ** Mnt Goat Article:"UNITED STATES: IRAQ MUST FORM A NEW GOVERNMENT TO STOP INSTABILITY" Quote: "...the delay in this formation is delaying progress on these bilateral issues in all sectors including security, health care and the economy..." ...the CBI keeps telling us – in order to reinstate the dinar and then the RV they will need STABILTY and SECURITY. So, they have one but now need the stability of the government. They will need the new government to be formed first. It is all here now in black and white so there is no doubt this is the show stopper in the project to delete the zeros. ** Pimpy Question: "When we do the exchange at the banks will there be capital gains taxes?" Yes. Capital gains tax on anything over $500 and gained value from your exchange. [NOTE: Consult your tax professionals at the appropriate time. Some feel the exchange will be handled at ordinary income.] ** Mark Article: ”Al Kazemi’s advisor announces the Ministry of Finance‘s completion of the 2022 Budget” This is expected to go into effect on May 7th. Unless we get news stating otherwise …I think this is fantastic. So what do we have over the last week … Iraq is ISO compliant, a completed budget and we are also hearing they will have a completed government starting on May 7th. So we have a lot to look forward to over the coming days . ** Kaperoni [Response to Walkingstick 4-30-2022 - See following]...Guru Walkingstick thinks Iraq has been destroying 25k notes. They may have been but it would have only been on a replacement basis which is the central bank's responsibility. Implying that they are reducing the money supply is nonsense. It is a known fact that the money supply has been increasing over the last year-and-a-half as a result of the reduction in exchange rate. It is now over 100 trillion dinar in circulation... ** Walkingstick [Repost of 4/30] Question: "When they start calling in the IQD three zeros will they start with higher denominations or the lower ones?" Higher. 25K notes. They have been doing that for years. They have destroyed millions in 25K notes... ** Fleming Venezuela and Iraq have both fulfilled the ISO 20022 requirements and agree to participate in world trade with ISO 20022 compatible digital currency. A State-Backed, Asset-backed CBDC. This is the completion of the list of “first basket” countries we’ve been waiting for.
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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... RON ** Kaperoni Current Prime Minister Al-Kazemi said yesterday when asked about the exchange rate of the dinar... Quote: "We do not have the magic wand to change reality in one fell swoop, but we have laid the foundations of normal life." That should be enough to tell people there is no RV..! ** Mark Getting a lot of chatter out of Iraq…some important ones…they are talking May 7th they are going to seat the new president. And Al Kazemis advisor announces the ministry of finances completion of the 2022 budget. That is a big one. The technical advisor to the Prime Minister announced on Saturday evening the completion of the federal budget for the year 2022...The food security law is not a substitute for the budget...in other words they are moving forward with the full budget because they need to address runaway inflation and tripling of food costs. This is big guys… then we see...[post 1 of 2] ** Mark Article: “Al Kazemis advisors set conditions for deposit of the financial surplus in a sovereign fund.” In other words if they don’t have things set up for the 7th …they are going to put all this surplus in a special fund so they can address poverty. They are really moving forward right now. So on the 7th of May…looks like a lot of big things happening. Looks like we will have a President and a budget. Buckle up kids…It’s getting fun. [post 2 of 2] ** Pimpy Question: "If the price of goods [inside Iraq] are technically the same after the revalue there really is no benefit to anyone [Iraqi people]?" Whoever owns the store, whoever owns the goods...they should have made the adjustment. They [the prices] shouldn't stay the same. That's where people in country are gonna notice a huge change in value. When your cost of goods, services and supplies change...especially one in which your purchasing power increased by 4069%...[Post 1 of 2] ** Pimpy If the dinar is at $1 for 1450 dinars buys you, let's say...an apple, then all of a sudden the value of the dinar changes to $3.22 cents USD...the apple should not still be 1450 dinars...it would probably be .25 dinar or something like that...[Post 2 of 2]
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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... RON *** Pimpy People are blown away by how much dinar I have. I don't have as much as people think I have. I have 5 million dinars. That's it. People are like, 'Why don't you have more? Don't you have any faith in it?' Oh, no that's not the problem...what people are banking on is an RI or an RV and I don't think that's going to happen. Of course I could be wrong. I think that currency is going to go up pretty quickly though...it's going to go up in stages is what I think. How long that's going to take I don't know...the average dinar holder has 250,000 dinars... *** Kaperoni Two Articles today from Iraq... The first article is talking about deleting zeros which is a LOP. Not what we want to see happen. The second article is from an economist who wants the central bank to forget about deleting zeros and simply improve the economy allowing the currency to rise as a result. This is the best solution.
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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... RON ** Mnt Goat ...we are in a VERY GOOD position to see this reinstatement before the end of the summer if not much sooner. So hang in there... ** Kaperoni Question: "if Iraq floats the dinar, and hyperinflation devalues the dollar, will that not force the dinar upward in value." If the dinar floats it'll have nothing to do with the dollar and its value will be determined by market forces. There is talk of pegging it to a basket of currencies from the Middle East which also may be possible. Either or would have nothing to do with the dollar. Currently, the dinar is pegged to the dollar only to provide stability under the conditions in Iraq. ** Walkingstick Question: "Will the budget and the white papers be launched this year?" That's the plan. ** Mark I know its frustrating…I don’t control the timing…All I can do is tell you what I am hearing and share what I am hearing…other than a little chatter out of Iraq it is still very quiet. Article:“The Iraqi Parliament is in the process of issuing a resolution obligating the government to submit the financial budget” This is big news from Iraq. And this is almost a verbatim article that we saw coming out of Kuwait before they RV’d almost 22 years ago…on the morning that they RV’d…Article: “Is it time to delete zeros” an economist commented. To me this is a fantastic piece of smoke…It is coming… ** Frank26 Article: "The rise in oil covers the budget deficit.. Good news from officials: Returning the dollar exchange rate to its previous" THEY ARE EXPECTING A CHANGE IN THE EXCHANGE RATE. ** Pimpy Question: "Is it not too late to buy dinar? I really need a house or a place to rent on my own. I don't make much and I'm looking for a miracle." People are still buying the dinar but here's the issue with everything that's going on. It's hard to judge when the rate change is going to happen. If you're listening to other people out there right now they're promising you a rate change of $3.22 or that it's gonna happen next week...you hear all this stuff so be careful...make sure that you just buy with whatever discretionary funds you have...
