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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... So, take everything with a grain of salt ... RON Clare Article: "Prime Minister Muhammad Shiaa Al-Sudani met this Monday evening (April 15, 2024) with US President Joseph Biden at the White House in Washington, DC. Al-Sudani said during the meeting, "We are working to move from the military relationship to a full partnership with the United States." Frank26 There are many Chief Executive Officers of many banks around the world at the US Treasury meeting right now with Sudani, Alaq and Barzani... Also, CEOs of CitiBank, Chase Bank and Bank of America are there. We also have all of the JP Morgan representatives, Merril Lynch, all investment companies you can think of, all of them are meeting... The meetings are going on now... This [Iraqi] entourage is here in the United States to meet with their counter parts.
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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... So, take everything with a grain of salt ... RON MarkZ Sudani‘s travels are very interesting here in the US. He is going to Texas where the CBI keeps servers… and he is going to Michigan where there is a large population of Iraqis there… dispelled from the war. And also in Dearborn they will be adding a Warka bank location. To handle exchanges for Iraqis in Michigan. Sudani traveling to Texas and Michigan is big. He is also going to California... I am hearing he is to meet with someone named Robert who is a signatory for Chinese banking elders. This is very interesting – what we are watching. Sudani has 130 people with him… a huge entourage... Including many important people from the Finance ministry and the CBI. Things are looking positive for the next week. Mnt Goat Article: "IRAQ’S FINANCIAL REVENUES EXCEED 11 TRILLION DINARS (about 11 Billion US Dollars) WITHIN A MONTH" Yes, even in a “rentier” oil economy the Iraqi dinar can still maintain a realistic rate of at least $3 or more...
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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... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV is showing new audit report showing Iraq as the best new investment for the year 2024. FRANK: I'm sorry... How in the world is this kind of statement even possible for you to make? You're at a program rate. Ain't no way in the world Iraq is the best investment for anybody in the year 2024 unless you're trying to tell us that you changed the exchange rate, which is what you're doing ever day to the whole world... Pimpy [In a LOP] The only thing that changes is the bank notes themselves... You're not changing the value of the currency. A 25,000 dinar is going to have value as a 25 dinar. They're just going to lop the zeros off. Debt is still going to be the same, your paycheck is still going to be the same. They only difference is when you go to cash your check, the dollars [dinars?] they give you back are going to look different if they lop off the zeros. He has his brain locked into a LOP, and no matter what other facts are out there, he just can't seem to see them. MarkZ ... the bond folks have expectations of things starting from between the 15th to the 22nd. And we were told from day one that bonds need to be close to completion or well underway before they pull the trigger… Hopefully we will know by tomorrow if bonds kick off - from European contacts... Clare Article: "His advisor: Sudanese attention will focus on the economy during his meeting with the American President” Quote: "Counselor Saleh believes that the economic aspect (investment, development, and financing) “will be activated for the first time in this broad form of the strategic framework agreement in order to be consistent with the data and principles of the program.” Militia Man Article: "Sudanese visit..Government advisor: The economy with America will be activated on a large scale for the first time" The red carpet is laid out for Iraq and the news we see is phenomenal ... That motorcade shows it. This is not a shun like we saw with Haider al-Abadi on the White House lawn.. A stark and profound difference today is and it is a good thing!
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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... So, take everything with a grain of salt ... RON Pimpy Iraq is right on track to do some great things.They're going to continue to do that. Let's get this coalition forces out of there plus the United States military, which is why I think Al-Sudani is coming over here to talk to the president to see about getting these people out of there and leaving Iraq on it's own devices. We'll see what happens from there... Clare Article: "Iraq 24 sources: Al-Sudani will meet a delegation from the Energy Companies Complex in Houston, which includes the largest oil, gas and alternative energy companies" Militia Man [Sudani] is going to need some exceptional strength, which is exchange rate oriented to do business deals with the likes of GE... big oil companies... big solar energy... They're looking to get people in the steel industry, rebar industry, cement companies because they're going to need more than Iraq has on the ground. They're going to want the support from around the world and Al-Sudani is stating he's ready for business and opening to the world. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani is visiting Washington, Michigan, and Texes while he's in the United States of America. FRANK: Understand the seriousness of this trip. It's not to go see some guy at the White House. It's to go lay out the groundwork for both of their reforms.
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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... So, take everything with a grain of salt ... RON Frank26 Sudani is walking on the yellow brick road to Washington DC. This is going to be historical trip... not just for Iraq, for both sides... the trip to Washington DC is crucial. Pimpy The more they get their sovereignty back, they're already on the Swift system, they're working their way through the World Trade Organization, it's just a matter of time before they remove all restrictions and we can start buying them [Iraqi dinars] (and exchanging them) through the banks again... Deepwoodz Sudani has a very long statement out today and there are no plans of America leaving... Furthermore, I have a feeling that although Sudani has the well being of his people in mind concerning the exchange rate, O’Biden has his eyes on the dinar in our treasury. It’s a win win. No horse trading needed. Militia Man Iraq has met the required security and stability in country that is needed to be productive and to perform her duties as a nation to her people in a correct and internationally acceptable manner. If she hadn't she wouldn't be where she is now, which is out from under the protection of EO 13303 outside the DFI. Iraq is still covered under EO13303 until mid May 2024, unless it is rescinded by Biden - let's not jump the gun with assumptions. Frank26 [Iraq boots-on-the-ground report] Firefly: They talked a long time about how the national cards we have will be used for all transactions in our country. FRANK: The national cards tell Iraqi citizens that their currency is about to have value, that it's about to go international. The International world would not want anything to do with the toilet paper valued currency. These are the hints. These are the telltale signs that they are are re-denominating and a new exchange rate is at your doorstep... Samson Article: "Al-Sudani to American companies: The current stability in Iraq is encouraging for you to engage in development projects"
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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... So, take everything with a grain of salt ... RON Mnt Goat the TRUTH finally coming out in the Iraq news. We don’t have to guess, it’s in all the news channels from Iraq now. Yes, the Iraqi dinar and the future revaluation of it is on the agenda for the April 15th visit of the Iraqi prime minister Al-Sudani to Washington, DC...The next stop is the in-country rate if all goes well that we should expect shortly after Al-Sudani’s return from Washington DC. We then know the rest of the process and what happens next… We can almost see the finish line as the train is about to come around the bend. Paulette Article quote: "Two Iraqi and American sources said that Prime Minister Muhammad Shiaa Al-Sudani will spend a week in the United States, including discussions with President Joe Biden, and a tour of 3 states." Will one State be Florida???? & @ Mar-a-Lago???
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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... So, take everything with a grain of salt ... RON Clare Article: "Al-Sudani: Meeting with Biden is an opportunity to put the two countries’ partnership on a new basis and expand relations" Quote: "Prime Minister Muhammad Shiaa Al-Sudani saw the meeting he will have with US President Joe Biden during his visit to Washington next Monday as an opportunity to put the US-Iraqi partnership on a new and more sustainable basis.” Samson Article ”The prime minister’s visit to Washington. Activating the economic partnership is one of the sectors of the Strategic Framework Agreement" Militia Man Al-Sudani was supposed to be in Washington on the 15, well it sounds like he's arrived and it sounds like he has the Central Bank delegation with him and it sounds like Al-Alaq is with him which would be a really good thing...They said he was going to be here on the 15th, it turns out he's early which is phenomenal...
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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... So, take everything with a grain of salt ... RON Frank26 If you don't like what they [Chase Bank] have got, then go somewhere else... And when you go somewhere else you already studied the bank...vetted... looked at their portfolio...know their officers... know their structure...know how they're going to take care of your money... invest your money right? If you say no to any of those questions you're in trouble because the leeches and parasites... vultures sense you, once the sharks know that there's chum in the water, they're going to circle you. They're going to tear you apart. 'Hey, MC Hammer... You Can't Touch This. You can't touch my money Frank.' How much money do you have? $200 million...How much you have now? Nothing... [this] is the situation we will be facing very soon. You're going to be attacked... You don't like Chase, make sure you check out where you're going carefully... Militia Man We know Al-Sudani is gearing to come to the United States on or around the 15th. Today we see he's ready to spend about a week in the Untied States. His saying about a week in the United States is a big deal because that's a long time. He's bringing... senior representatives from the Central Bank of Iraq... They're going to be talking with the United States Treasury... Clare Article "Bankers excited to meet the Treasury Al-Sudani will stay in America for a week.. A source from Baghdad and another from Washington reveal the agenda" Quote "The Iraqi government source confirmed to the 964 network that Al-Sudani will hold meetings with businessmen, and will be accompanied by Iraqi bank officials...The Sudanese visit lasts a week and includes 3 American states." Samson Article ”Bankers excited to meet the Treasury Al-Sudani will stay in America for a week.. A source from Baghdad and another from Washington reveal the agenda" Pimpy My gut feeling is they're going to re-denominate and then change the exchange rate right after that to where it should be, somewhere around $3 and something cents per dinar. I've got 5 million. If it goes to $3 and something, I made $15,000. I'm a happy camper with that. It's better than not having anything. I understand for a lot of you you're like, 'No. No. NO. that's not good because that's not what I had in mind.' And I'm sorry but you're asking me my opinion. That is my opinion. They will re-denominate the currency, LOP off the zeros - your 25,000 dinar will become 25 and then they'll reinstate the old rate... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is talking about our international debt going from trillions to billions... FRANK: That is the definition of lifting the three zeros... It's that simple... Going from trillions to billions - how? 'We already told you, we're lifting the three zeros from our exchange rate.' Why? 'Because we're re-denominating our currency.' How? 'By bringing out lower notes and getting rid of the three zero notes...' Why? 'Because we suffered enough.'
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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... So, take everything with a grain of salt ... RON Mnt Goat Article Quote: “Approximately 1,000 ATMs will be installed across all provinces, districts, and areas of the Kurdistan Region of Iraq (KRG) by the end of 2024” We have been told years ago that the ATMs are pivotal to the Project to Delete the Zeros... good 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... So, take everything with a grain of salt ... RON Clare Article "Al-Sudani to American companies: The current stability in Iraq is encouraging for you to engage in development projects" Breitling The dinar is real. The opportunity is real. I know you have to have an atomic, almost God like patience. I'm just like everybody else, can't wait for them to add value to it. But it is real. I think people who stick with it are going to benefit from it, 100%. It is real and it will come.
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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... So, take everything with a grain of salt ... RON Frank26 I told you there are four banks [for exchange]. I told you the echelon...What was the first bank? Bank of America. What's the second bank? [JP Morgan Chase Bank]...In my estimate, JP Morgan Chase, then Wells Fargo, then Citibank, then Bank of America (they're having some financial issues)...RON Sandy Ingram Oil has risen to over $90 a barrel... OPEC is cornering itself into position of oil profits by reducing the amount of oil available... Pimpy Nearly everybody [In Iraq] earns less than $2,500/month. 75% of the population makes less than $770/month. 50% of them earn $540/month or less. And 25% of them earn less than $400/month. This is your average monthly salaries over there in Iraq... Labor over there is cheap. Clare Article "THE DOLLAR IS ON THE SUDANESE DIALOGUE TABLE IN WASHINGTON.. AL-AWADI TALKS ABOUT THE FUTURE OF THE IRAQI DINAR" Quote "the dollar file and the work of banks will be strongly present during the visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington, suggesting that the dinar’s situation in the future will be better." Militia Man The Iraq stage is clearly set for Al-Sudani to come to the USA... His achievements to date are phenomenal in totality! The DFI funds have been the legal basis for depositing oil revenues in the new "IRAQ2" account with the Federal Reserve Bank in New York; so "is the expiration of EO 13303", which granted Iraq the ability for her funds to be deposited in an account to be protected with legal authority, and to be where they are now....The end of this statement is missing... Samson Article "THE DOLLAR IS ON THE SUDANESE DIALOGUE TABLE IN WASHINGTON ... AL-AWADI TALKS ABOUT THE FUTURE OF THE IRAQI DINAR" Pimpy There still seems to be some major confusion about what a real effective exchange rate is versus an actual nominal exchange rate...A Real Effective Exchange Rate is for assessing its trade capabilities...an increase in the nations REER is an indication that the exports are becoming more expensive and its imports are becoming cheaper. It is losing its trade competitiveness. So the REER is used to check out its competitiveness with other trade partners. That's it...It's not the same thing as a nominal exchange rate... Frank26 Iraq is a sovereign nation now with a sovereign currency. Therefore IMO Sudani goes to Washington to deal with Monetary Reform and banking advancement... Billions and billions are retuning to Iraq. It's an incredible amount of money that's coming back. It'll [DFI?] probably come back to them now or after the 15th when Sudani comes back.
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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... So, take everything with a grain of salt ... RON Pimpy I read this book [Quest For Good Money]...I kept playing with the numbers, reading my ass off... This is the formula they use [to determine the exchange rate]... The person that wrote the book said if they can get their inflation down, at it is down,...and they can catch up to their dinar price parity ...it should be at the pre-war rate...which is over $3.00. So I did the formula based on all the information they gave me, it came out to $3.56...I said wow, that's going to be phenomenal ...that is worth getting excited about ...The study does tell you that there's no reason Iraq can't be the most valuable currency out there... The question is always going to be whether they re-denominate or not. It sounds like Pimpy has had his eyes opened a bit by this book. Sandy Ingram In Zimbabwe, the new currency, Zimbabwe Gold (ZIG) will be circulated alongside foreign currencies. Banks have to convert their current Zimbabwean dollar balances into the new Ziggy currency which will go into effect immediately. People have 21 days to exchange their old notes and coins for new ones. It is expected the new currency will have a profound impact on inflation... The new currency is anchored by a composite basket of foreign currency and precious metals, mainly gold... The ZIG has denominations between 1 and 200. Militia Man Bottom line is Iraq has about $16 to $17 trillion worth of product in the ground (Plus Natural Gas) that they know of and they're going to go after it... Clare Article "Disclosure of Iraq's creditors internally and externally" Quote "On April 8, the Iraqi government announced a reduction in external public debt by more than 50%, bringing the debt down from $19.729 billion late. in 2022, to $15.976 billion in 2023, reaching approximately $8.9 billion in the current year." Paulette IMO, UN resolution 1483 will have to be lifted to allow Iraq to be totally sovereign as it established the US and UK as "occupying forces"...This is in essence "Guardianship" or "Receivership"...Absent the lifting, the US has to give Iraq permission to do most anything Internationally including "currency reinstatement" ...I am hopeful that internal control of the money structure is exclusively in the hands of the CBI so they can at least move to the RD/RV stage of their monetary reform... If not, the upcoming US visit of Sudani may very well be pivotal... Saleh recently stated he was unsure of the status of 1483 according to news articles...
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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... So, take everything with a grain of salt ... RON Mnt Goat Article: "IRAQ ANNOUNCES THAT IT IS CLOSE TO PRODUCING 5 MILLION BARRELS PER DAY" ...they are announcing that it is close to 5 million barrels per day. Oh… but the dinar is still at 1/6 of a penny? It is like they are ignoring the oil assets already on hand in determining the rate of the dinar. Even before the 1991 invasion they were producing 2.5 million barrels per day and the dinar was around $3.22. Now they are producing twice as much oil. So what’s going on here? ...The US is playing a game with Iraq and the IQD and most importantly... It’s people are suffering from it the most. War sanctions are over, and its time to give them back their currency along with their dignity. Clare Article "Two Iraqi fintechs listed in Forbes’ Top 50 Fintechs in the Middle East" Quote "Iraq Wallet (ZainCash Iraq) and NEO Pay Iraq, have secured coveted spots among Forbes’ Top 50 Fintech Companies in the Middle East, demonstrating evidence of the financial technology sector in Iraq’s rapidly developing creativity. Iraq Wallet (ZainCash Iraq) came in at number 6 in the region, while NEO Pay Iraq came in at number 35 in the Middle East." Pimpy Question "Do you think Iraq's government is sovereign?" To some degree yeah, but no. If that were the case Iraq wouldn't have to keep sending their budget over to us to get it approved. They would stand on their own feet. And that's what they are about to do, Pimpy..! Frank26 Q? : Do you think the world is interested in the monetary reform? No, you are. You are such a small populous. The amount of people that have dinars as an investment is minuscule. The CBI doesn't care about you having dinars. They care about countries that have dinars in their reserves. You're talking billions. That's serious money... It's not the contracts, businesses, companies that are excited about the monetary reform like you are. No, they're excited about the economic reform because that's where they're going to make money. If the economic reform is not successful they know they're screwed. Militia Man Article Quote: "Al Sudani uttered a very important phrase, 'keep the dinar...I bear witness that the Iraqi dinar will return to its lofty economic value as it was'..."' Lofty economic value is not 1310. It's not 1159. It's not 1182 or 1160 or any of those number. It's back to previous era like they said. They shut this thing down at...$3.22...The true value from the IMF... estimates were about $2.80. Those are their words not mine and in print... They can support it... Remember, Iraq was at $35 a barrel of oil. It's $85 right now. Then add in all the extra revenue streams that we know of... They're massive and they're just going to keep growing. And NOW, for some of Mark's ... ...! MarkZ Question: Where will redemption centers be? (A very dumb sheep question..!) Mark: I have been told this over and over that the majority of the US - 90% of us will have a RC within 50 miles of where we live. The only people who may have a longer drive are those in rural areas…low populations like the Dakotas and Wyo…They will not release exact locations before the event starts for security.
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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... So, take everything with a grain of salt ... RON Frank26 The reason why Sudani is going to Washington is about the monetary reform. End of story. Militia Man Article: "Dinar and dollar" This piece was from March 4th, 2024 and is redone again fresh today. By stating they are going to overthrow the dollar very soon will be making it hard for the citizens to want to let their dinar go. Al-Sudani stated as we noted before to keep the dinar, as it will return to its lofty economic value, as it was before. From, what we know, there is a lot of issues on the table that are exchange rate oriented. This is a good sign.. imo. They are not letting the idea or the expectations of increased value to the dinar go away.
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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... So, take everything with a grain of salt ... RON Clare Article: "The Central Bank is preparing a report to lift the ban on 28 Iraqi banks" And NOW, a bit of Mark's Just to be heard: MarkZ I heard there will be more activity from Redemption banks for later this month as they are getting some last minute instructions... They even used the term “Last minute instructions” So I take that as a very good sign. I am hopeful we are in the last few days or weeks at worse…
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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... So, take everything with a grain of salt ... RON Fnu Lnu Iraq is worth far more than 16 trillion dollars and there is far less than 80 trillion in circulation... To espouse such inciting commentary [against this]... negates everything Dr. Shabibi has stated and everything the CBI and GOI have stated. The Dinar was worth $3.22 pre-sanctions and at that time all they had was oil at $32 dollars a barrel... Clare Article: "Office of Mr. Al-Sistani: It is expected that Wednesday will be the first day of Eid Al-Fitr” Quote: “The office’s forecasts for the crescent times for the Hijri months indicated the possibility of seeing the crescent of Shawwal tomorrow, Tuesday, so that Wednesday will be the first day of Eid al-Fitr.” Sandy Ingram Iraq's prime minister will be in Washington, DC in less than 8 days to meet with President Biden. Pimpy There seems to still be some confusion about the official exchange rate versus the real effective exchange rate... comments like "When they get to the real effective exchange rate" or When they switch to the real effective exchange rate." Or "When they use the real effective exchange rate"...This is confusing...what a real effective exchange rate is...An official exchange rate is at which country's currency can be exchanged for another country's' currency...Real Effective Exchange Rate is a broader measure that takes into account not just one bilateral exchange rate but a weighted average of a country's currency against the basket of it's major trading partners...Iraq already reports the effective exchange rate...It's already there...you don't have to wait for the real effective exchange rate to come popping up, it's already being used... Militia Man We're watching Iraq go international. It's an interesting study. It's fascinating... Iraq is coming up... Iraq is moving in the a direction to go international and it's phenomenal.
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Saturday Early Afternoon Opinions @ 2:05 PM MDT - 4/06/2024
ronscarpa posted a topic in Dinar Rumors
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: Is this weekend still in play? Mark: I do not think this weekend is in play. But many others believe this weekend is still in play. Most of what I am hearing is they expect most of the historic bonds to start between the 15th-22nd. Then Currency exchanges following directly on its heels. But, none of us know the timing. They cloud it on purpose. Sandy Ingram Deleting the zeros will not change the currency's value, at least it has not changed the currency's value for any other country that has deleted the zeros. [We] could not find information on the Central Bank of Iraq's website or any other reliable Iraqi news blog on deleting the zeros the past 24 months. Pimpy Article: "Iraqi economy faces threat as US closes oil revenue account" This latest move by the United States is something I'd be a little concerned about...Why the hell would you do that...? Maybe Biden is going to tell Iraq, 'You don't need these accounts no more. We're going to go ahead and turn everything over to you. All this is now in your control.' Which would be good for Iraq...It would be a big move on the United States part to go ahead and turn over all of that money to Iraq... Frank26 I believe [Sudani] will see the president with authority, with confidence, with power in their reforms. I believe he will see him exactly the way the IMF, World Bank, BIS, United States Treasury has described the monetary reform... MarkZ Comment: Ramadan ends April 9th or 10th…then 3 days of Eid El Fitr…where they like to give each other gifts…. It would make sense for Sudani to give it to the people of Iraq before Eid El Fitr. Mark: That would make sense...that is the celebration at the end of Ramadan. It would make a lot of sense for Sudani to release it about then. I forgot to hit send @ 2:05, and it's now 3:10 ... a dumb move - RON -
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 Frank Question: "The deleting of the zeros, would that lessen our dinar that we have here in the U.S." Yes, because...the moment they delete the 3 zeros it's going to add value to the currency and that's what you're waiting for - For them to add value to the currency so you can take your 3-zeros to a bank and exchange them for American dollars. Clare Article: "Iraq will become an "alternative" to the Suez Canal" Quote: "Iraq will become, during the next few years, a 'center' for international trade between the East and the Middle East and the West.”
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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... So, take everything with a grain of salt ... RON Goldilocks Article: "Viet Nam's Minister of Finance and Central Bank Governor and other ASEAN counterparts engage in discussions with international business councils to strengthen financial ties and promote sustainable growth in the region" Quote: "As Vietnam continues to expand their economy, these new demands on their currency will justify new price actions on their currency." Militia Man They are ready to resume exports at any time. Why? Because they have the systems in place. Iraq's natural resources are phenomenal...these guys have so much natural resources it's not even funny.
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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... So, take everything with a grain of salt ... RON Frank26 Sudani said to his citizens, Quote: ''Before the end of Ramadan, before the start of EID it is my desire to make a major announcement.' Ramadan comes to an end on the 8th of April. On the 9th EID starts." From the 9th to the 11th we have an amazing window to study and to see what happens with our investment because on the 15th Sudani will go to Washington DC to see the president of the Untied States. Militia Man Raising the value of your currency is going to help make it easier for sustainable development and deducing the phenomenon of cash. In other words if you have a 1 to 1 ratio you have a significant reduction in cash do you not? I think you do. If it was at a previous era, for instance...$2.80, $3.22..wouldn't that be a phenomenon of less cash in the economy? Of course it would. MarkZ Question: Mark do you think this will happen before 2025? Mark: Yes I do…I don’t think we will get anywhere close to 2025 before it happens. But, nobody knows the exact timing. Guru Samson Article: "The office of the Grand Ayatollah Sistani expects next Wednesday, April 10, the first day of Eid al-Fitr"
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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... So, take everything with a grain of salt ... RON Frank26 Article: "The Central Bank of Iraq clarifies the mechanism for depositing oil revenues abroad" DFI was part of something called Executive order 13303. President Bush signed executive order 13303...Clinton... Trump...Biden...resigned it. Guess what, executive order 13303...has not been resigned... Pimpy ...If the Iraqi dinar is re-denominated, that's when they LOP off the zeros, delete the zeros, reduce the zeros, remove the zeros, call it whatever you want, they're all the same thing...Re-denomination of a currency involves changing the face value of the currency by dropping zeros from the existing notes and issuing new currency at a lower nominal value...The nominal value of the 25,000 is 25,000 single dinars on one note. If we do a re-denomination and we remove the zeros off the currency, then they have to make whole new...smaller denominations...most likely going to have 1, 5, 10, 20, 50 and 100 dinar...So instead of having 25,000 written across the bill it's only going to be 25...If Iraq increases the exchange rate of the Iraqi dinar...this is different. A re-denomiation will have a slight effect, if at all, verses changing the exchange rate, increases currency value...increases the purchasing power for Iraqis... Mnt Goat ...we read in the articles today that the post-war DFI fund and its process is also no longer in effect. WOW! This means that oil revenues no longer have to be placed under US Treasury accounts in NYC...These remaining dollars will now be transported from the Federal Reserve Bank in NYC to the Baghdad, Iraq CBI...Yet more signs of full sovereignty not just on paper but tangible evidence we can see by events. The sovereignty of their currency is also coming and on the near horizon... WOW! WOW! WOW! We have waited so long to hear this good 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... So, take everything with a grain of salt ... RON Sandy Ingram In a startling development the United States has closed the account through which Iraq collects revenue form its oil sales...the Development Fund for Iraq (DFI). The DFI...served as a lifeline for Iraq to collect and manage its oil revenues. Iraq maintained this account with the US Federal Reserve Bank allowing it to receive oil revenues in dollars and use them to cover essential expenses in accordance with agreements with the United States...With the closure of the DFI account, Iraq's oil revenue is being directed to a new account, cryptically referred to as IraqQ2... Frank26 The contracts IMO they are renegotiating the exchange rate for the contracts. The issue is not whether to come out with a new exchange rate but which exchange rate to come out with... Pimpy Article: "The Minister of Finance and the World Bank are discussing support for the economic and financial reform program" Usually in the past I would say yeah, that all sounds good but we'll believe it when we see it. But now when you read this kind of news it's hard not to get a little excited because al-Sudani is doing a pretty good job considering his own political party is not working with him but against him. Militia Man Article: "The United States has closed the account through with the Iraq collects revenue from its oil sales" The DFI fund was closed on March 18th...Big change. We have not seen this before. Is it a smoking gun? ...If they were going to stop an account that had protection for all their oil money and they just now relinquished a couple weeks ago I think that's pretty big...They must have felt comfortable in a sense they could handle recourse on that debt...I'll tell you this, if they change the value from 1310 to a previous era, it'll become a lot cheaper to pay off their debts... MarkZ Question: Did Iraq get their bank accounts and money back from the US? Mark: YES. This is huge. This is enormous. Iraqs money for oil sales is no longer going through the United States. I was told this is what Iraq has been waiting on before they forced things to fruition...The closed DFI account is huge…And one of the things I was consistently told from government contacts in Iraq is how hard it has been for them with oil revenues going through the US. This has enormous repercussions for Iraq and their economic sovereignty. This is an important key piece that we just saw occur...Now we need the announcement on the HCL front, which I believe has already happened- we just need the announcement. Clare Article: "Iraqi economy faces threat as US closes oil revenue account" Quote "...with the closure of the DFI [Development Fund for Iraq] account, Iraq's oil revenue is now being directed to a new account, referred to as IRAQ2. This transition raises concerns...banking specialist Kamaran Qadir Yaqub...warns the protection previously afforded to Iraq's revenue may no longer be guaranteed." Mnt Goat In today’s news articles we learn about the expiration of the extension of the US President’s Executive Order 13303 put in place in 2003. So, there is no extension this year...Why is this so important to us investors? First, the expiration of 13303 shows to us once again that Iraq is slowly moving out of the sanctioned mindset altogether. But now we moved to a new level. We know that in December of 2022, Iraq completed its war reparations payments to Kuwait and thus followed that all the remaining UN sanctions were lifted. [Post 1 of 2] Mnt Goat What happened next was the VERY quick response by the CBI to begin the de-dollarization process in Iraq in 2023. Then the unanticipated length of resolving the issue of the stability with the parallel market which delayed the process we are now looking for. Last week they told us the parallel market is now under control...I verified this with my CBI contact...Many investors have been waiting for this news...and tell us that this is a VERY GOOD sign for us in that since we no longer will be needing this protection, since maybe the dinar is soon to be free to move into its full potential as a sovereign, global currency...Remember it is normally renewed on April 1st and so what is in stored for us in April? Just saying. [Post 2 0f 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... So, take everything with a grain of salt ... RON Frank26 Many things are waiting for the new exchange rate. I sincerely believe that the very first domino that allows everything else that is waiting for the new exchange rate is the budget that allows everything to live and function. MarkZ Comment: [Remember Sudani is coming to the US on April 15th. I believe it will be a post RV victory lap.] Mark: A lot of my contacts believe that as well. Some contacts think tomorrow may be the day. We will see. It’s not coming from enough sources to put a lot of stock in it though. Pimpy Did we hear this rumor correctly? Did Iraq find a replacement for oil? ...It's been under their feet the whole time...What do you suppose that would do for their economy especially if it allows them to get away from relying so much on oil. It could be very very exciting... Article: "One more country ahead of us in the race for the 'most renewable fuel': this is a developing one and will replace oil" It looks like Iraq is going to start doing what they can to get away form oil and start producing green hydrogen... Yes, indeedy things still looking good for Iraq. Let's hope they stay on the straight and narrow and everything goes their way and we can see the Iraqi people have a prosperous life. Militia Man When Iraq adjusts their exchange rate...all boats rise with the tide. All those boats that own Iraqi dinar are going to rise. The United States is going to be part of that process with the Development Road project. See how cheap it's going to be to build that country by raising the value because they have a real effective exchange rate? You can see where the deals are going to be made. It's going to be phenomenal. Walkingstick There's nothing like the facts. Everything they're telling the Iraqi citizens is a fact, because it's coming from the right sources. MarkZ Member: I heard Iraq is going to do what Kuwait did and allow their people to party a few days before they release rate to the world? MarkZ: Kuwait managed to keep their RV a secret for 10 days before the world found out. With today’s internet they would have a difficult time burying it for very long. I don’t think they would get more than a day or two at most. Clare Article: "Iraq’s banking system grows 15.1% in 2023 to $156.7 billion"
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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... So, take everything with a grain of salt ... RON Fnu Lnu Article quote: "Al-Kadhimi indicated that increasing the budget’s overall amount, from 199 trillion Iraqi dinars (nearly $152 billion) to 228 trillion Iraqi dinars (approximately $174.04 billion), resulted in a rise in the deficit, revealing that the budget is still being discussed in the Council of Ministers and would likely be presented to the Iraqi Parliament next month." It would logically follow that a revaluation would be likely before next month's USA confab. Pimpy Community Request: "Please tell us about the smaller notes, 500s, 250 and 50s. Will they be a throwaway? What is the good and bad of them?" If they do a re-denomination there won't be a need for a 500 or 250 note...They're going to create the notes like the ones we have. You will see a 1, 5, 10, 20, 50 and 100 denomination...They don't lose the purchasing power. The 10 has the same purchasing power as a 10,000. The 5 has the same purchasing power as a 5,000. The one has the same purchasing power as the 1,000... That's so, only if we believe your understanding of what they intend to do. Which, of course, none of us believe it. Besides, The notes are already printed. Militia Man With the Central Bank taking measures to stop the exchange rate rise in the parallel market showed they attained a gradual decline in the exchange rate due to merchants gravitated to the new platform in significant numbers whereby the parallel market decreased to a mere $25 million a day compared to over $200+ million with the legitimate system. They say that decline will continue. Likely to disappear, 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... So, take everything with a grain of salt ... RON Fnu Lnu [Response to Pimpy's HCL non-revenue sharing post from 3-31-2024] The notion of revenue-sharing is nothing new in the Middle East. Bruni and Kuwait both do it...Revenue Watch Middle East Director Yahia Said recently returned from several months in Iraq working on the International Compact with the UN...This USIPeace Briefing summarizes the discussion. Many Iraqi citizens look to the law for what it can contribute to reconciliation, security, and welfare. The three parts of the agreement will deal with the issues of 1) revenue sharing; 2) restructuring of the ministry of oil; and 3) establishing the Iraqi National Oil Company (INOC). [Post 1 of 2]{Reposted} Fnu Lnu It is quite clear that the HCL has intentions to codify the issue of welfare (not for government) and the number 1 issue is REVENUE SHARING. To be more specific; Section 1314 of the FY2007 Supplemental Appropriations Act [P.L.110-28] specifically identified the enactment and implementation of legislation “to ensure the equitable distribution of hydrocarbon resources of the people of Iraq without regard to the sect or ethnicity of recipients” and “to ensure that the energy resources of Iraq benefit Sunni Arabs, Shia Arabs, Kurds, and other Iraqi citizens in an equitable manner” as benchmarks. [Post 2 of 2] Pimpy It really looks good for the future of Iraq. Outside of the corruption that's in the government. If they can stay on the path, Al-Sudani gets a clear path to continue, the future for Iraq's economy looks really good. They should see some economic boom as long as the coordinating framework and those political people that are in power can somehow get out of the way or removed from office altogether... Militia Man Q? : Why in the world would anybody want to invest into Iraq if they were going to put their money into Iraq and then they were going to lose? Because if you invest your money in Iraq and they LOP their currency you're not going to make any money, it's a neutral event. Walkingstick [Report from #1 - his Iraqi bank owner friend in Iraq and in our opinion] The HCL has been long done! ....Article 140 and the disputed territories, done! The redenomination at the onset, that rate is done! Awaiting nothing but the release and implementation of all of this. MarkZ Question: Since Sudani has to go to US on April 15th does that mean nothing will happen on the RV until then or after? Mark: Many believe he could be coming to the US after the RV for his “victory lap”. But not very likely. I'm afraid we'll need to wait till late Summer or Fall. Clare Article: "Al-Shammari reveals the most prominent files of Sudanese’s visit to Washington and the government’s ambition regarding the dollar" Quote: "Al-Sudani's visit to Washington will be practical and will not be for taking pictures...The Iraqi delegation will ask the American side about the reasons for their decisions to impose sanctions on Iraqi banks... Our expectations are that the visit will be very successful." Frank26 [Iraq boots-on-the-ground report] FIREFLY: Ramadan is over on the 8th. Then we have EID holiday from the 8th to the 14th and then on the 15th Sudani is supposed to go to Washington D.C...It's time to get a little excited...
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