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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: "Iron and Steel Company: Iraq is on the verge of a major industrial revolution" Walkingstick Sudani is starting the monetary reform education by using the official rate, which is 1320. He's using 1320 in explaining the possible rate...1.32 to 1 American dollar. IMO the reinstatement could take that International rate further...
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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 Vietnam became the 150th member of the World Trade Organization back in 2007...with the same icky exchange rate. Not only that but...Vietnam is currently trading on the Forex...In addition to that Vietnam is on the Swift System...When you try to look up Iraq there is no Iraq because they're not on the Swift System. So you have Vietnam with a way worse exchange rate than Iraq part of the World Trade Organization...on Swift and they're trading on the Forex...If Vietnam is there with their current exchange rate then there's no doubt ...Iraq ...can be on these programs as well [at their current exchange rate].But that's not what Sudani said, or is it his intention. Militia Man Al-Sudani talked about having $1.00 equaling 1.32 dinars...I believe in my view is when they drop the three zeros from the exchange rate, what you'll have is about .76 USD. Then they apply the Real Effect Exchange Rate to that. And that's going to be based off of their assets... That would be nice - I can go for that..! Samson Article: ”Al-Sudani: There are those who want to obstruct reconstruction, and they will not discourage the government from proceeding with its plans"Guess who...Maliki & his crowd..! Walkingstick WTO means currency restriction free, therefore all members can use multiple foreign currencies to buy, sell and trade but Iraq has decided...all...contracts that have been recently signed with Sudani must be converted into Iraqi dinars. Clare Article: "Al-Sudani intends to visit Washington to lift the ban on banks prohibited from dealing in dollars" Quote: "The head of the Iraqi Securities Commission, Faisal Al-Haimas, announced that three Iraqi banks were sanctioned by the US Treasury, and 25 banks were banned from dealing in dollars."
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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 Prime Minister is going to Washington DC ...He's going to talk to the U.S. Treasury about the new exchange rate...He's talking to it with everybody. Fnu Lnu On the issue of Old Notes (circulated) versus New Notes (uncirculated) I can tell you this. The "Oil for Dinar" program (a Paris Club item - coalition countries) is very real and those are called Private Placements. They require ONLY uncirculated notes to participate. Otherwise, if you aren't in such a Private Placement exchange then it doesn't matter at all. Also, new uncirculated notes of certain serial numbers are going to be used as Bonds. The new Dinar have all the info needed to be used as bonds and it was planned this way before the new notes were printed. They will be used on the unregulated trading platforms in Shanghai as part of certain trading packages. (Interesting...!) MarkZ I think things are in a mad dash to the finish line… We have an impending visit from Sudani here in the Us... We have Sudani on Friday mentioning the rate of $1.32…which is very specific... Comment: The $1.32 rate is actually .76 cents US for each dinar…. Al Sudani promised the Iraqi people the dinar would be stronger than the dollar. . 76 cents is NOT stronger. Mark: They may be floating the rates of $1.32 and .76 cents to get people ready for a change. I still think it will be more in the $3 or $4 range…but I could be wrong. IMO $1.32 and .76 cents rates would still be fantastic.. Pimpy Everyone is excited that Iraq has completed all the requirements to join the World Trade Organization but the bigger question is what's next for Iraq? ...There's this impression going on around the Iraqi dinar community that this is going to happen next week or next month. Is this true or could the process take longer? ...What's remaining for Iraq? Approval by the general council...which is composed of all WTO members. ...As of now they don't appear to be on the calendar to be voted in...We got between now and June to see if indeed Iraq is added to the calendar...unless for some reason the WTO holds a special session... Militia Man Article: "Parliamentary Finance: The federal budget is in the corridors of the Council of Ministers, and there is no specific date for sending it" Quote: "On June 12, 2023, the Iraqi Parliament approved the tripartite budget law for the years 2023, 2024, and 2025. Last year’s total budget amounted to 197 billion dinars, which is the largest in the country’s history." Take note that they used 197 Billion Dinars. That is a little over $150 million USD at the current exchange rate of 1,310 IQD... Seriously? I do not think so, unless they have done something we have yet to see.
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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: "An economist identifies the "ideal solution" to reduce the dollar difference between the official and the parallel" THE ONLY SOLUTION IS A NEW EXCHANGE RATE WITH LOWER NOTES... AND THAT'S EXACTLY WHAT SUDANI & ALAQ ARE SAYING TO THE CITIZENS OF IRAQ! Walkingstick Iraq is indeed ready, but the USA still has multiple conditions for release in the region which are presently being satisfied. We are getting to the end of the game which could monetarily finish as Iraq is going public to force a potential release. It is any minute, any second time frame. Frank26 ...JP Morgan representatives at a Chase Banks, why are they there? And why do they have all of these cubicles that they're setting up? ...They don't even say it's not a scam, they simply say when it happens we're ready for you. The whole mantra/attitude is changing but it doesn't change all at once. It's a slow process. It travels from the east to the west...north to the south. That information is slowly being given to everybody that is going to be involved in this exchange process. Mnt Goat So according to Shafaq News/ The Parliamentary Finance Committee discussed, on Thursday, with the Central Bank of Iraq, the monetary policy and banking system in the country and ways to increase the value of the Iraqi dinar. I Quote from the Article – “to discuss monetary policy, the banking system in the country, and ways to increase the value of the Iraqi dinar.” Folks I don’t know about you but this article was WOW!
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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 Do not purchase any currency with Saddam's face on it unless you purchase it as a collector. Purchase currency that is now in circulation in Iraq. Clare Article: "The Central Bank announces an understanding with the US Treasury to reconsider sanctions and indicates 'illegal trade' " Samson Article: "Central Bank Governor Announces an Understanding with US Treasury to Review Sanctions on Banks" MarkZ It's been exceptionally quiet on the RV front overnight...Some have anticipation for this weekend...I hope they are right. Pimpy I was hoping you guys caught this part of this paragraph... Article Quote: "The Iraqi government is currently weighing the question of changing the currency." That should have told you everything you should have known right then and there...They're talking about deletion of the zeros. If they're deleting the zeros off of this (1.32) then they're also deleting the zeros off the currency...That's exactly doing critical thinking which is what you're going to need in order to get through this process. Frank26 [Iraq boots-on-the-ground report] FRANK: You are within arms length of receiving your new exchange rate with your lower notes because it is in print. More importantly these words come from the right people that you can trust...Coming to you with the holy solemn oath promised that your prime minister bears witness that you will receive purchasing power and lower notes... FIREFLY: Yes...it is exciting. When we saw Alaq come on television and talk to us we knew we were going to be told more... Babysmom THE ONLY DIFFERENCE BETWEEN CIRCULATED AND UNCIRCULATED CURRENCY REALLY ONLY APPEALS TO COLLECTORS. COLLECTORS WANT UNCIRCULATED CURRENCY BECAUSE IT'S IN PRISTINE CONDITION AND THEY CAN FRAME IT. FOR OUR PURPOSES WE ARE GOING TO BE EXCHANGING IT WITH THE BANK SO IT DOESN'T MATTER IF YOU PURCHASE CIRCULATED OR UNCIRCULATED AND OFTEN CIRCULATED IS LESS EXPENSIVE TO PURCHASE. Walkingstick There were a few statements released by the GOI officials regarding their currency. The coming value at the onset of the release was revealed. That value was disclosed at/in negotiations...
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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: Alaq CBI governor said improving relations with international banks and amending the CBI bank Law. Alaq also saying about the $1.32 from 1320, if that's the case then Iraq will need lower notes for change if we go under 250 notes. FRANK: They're hinting to you what they're about to give you. They're having the conversation out in the open so you can prepare yourself...all of this is seeing the state to add value to your currency. Militia Man Iraq is going to go through that industrial revolution because they're going to rebuild the country. The evidence is quite clear. The fascinating part about it is we had Al-Sudani/his government say they were going to do the project to delete the zeros...They were going to have the Iraqi dinar be worth 1.32 dinars to the dollar. That equates to about $0.76. Those folks that talk about a LOP, how do they explain that? They can't because that's not what it is. Pimpy It [the article] doesn't say the exchange rate is $1.32, more likely what it is Al-Sudani will change the exchange rate where you can buy 132 dinar for $1. That's a 90% increase. I don't know about you but I'd be pretty happy with that. I'd be content with that. I know a lot of you are expecting million, that doesn't mean it can't happen but if we're allowed to keep this currency that we have right now with all the zero and they change the exchange rate I'm going to count my blessing and sell them because I'm not going to take the risk of hoping for a higher exchange rate and then turn around and delete the zeros. $37,000 is not too bad for less than a $2,000 investment. Frank26 I made a mistake...$0.76 was correct. I apologized...It's 1.32 to $1 which comes out to the $0.76. MarkZ Comment: There is currently a bond crisis brewing. Mark: Yes there is…and years ago one of the key players in the RV told us to keep our eyes on the bond market and when it finally gasps its last breath…that is when we go... It is certainly troubled enough to gasp its last breath. Mnt Goat ...the Chairman of the Finance Committee stressed, and I Quote: “the importance of following up on the economic file and monetary policy, based on the supervisory aspect, and finding appropriate solutions to the obstacles facing the work of the Central Bank.” What they are basically telling the CBI is to follow up and move more aggressively on this issue of increasing the value of the dinar...I believe there is enormous pressure to get the dinar revalued and conduct the 3 zero note changeout (The Project to Delete the Zeros).
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EMEMBER, 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 Article Quote: "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1,32 Iraqi dinars instead of 1320 dinars. Implementing such a decision is likely to significantly increase Al-Sudani's popularity." I know everybody somehow, someway got that the exchange rate was going to be $1.32. That's not what this article says. It says the official cost of the US dollar will be 1.32 Iraqi dinars...What I'm hoping this means is $1 US will get you 132 Iraqi dinar. That would be pretty nice increase in the Iraqi exchange rate. That's a 90% increase. This is an AMAZING POST, especially coming from Pimpy...! RON
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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: "Among them concerns the dinar... the outcomes of Parliament’s finance meeting with the Central Bank" ALL THEY TALK ABOUT IS THE 1.32 & THE INTRODUCTION OF THE LOWER NOTES!!! FINALLY... THE SOUND HEARD AROUND THE WORLD! This is actually happening. This is a reality. The monetary reform to add value to the currency and then to float internationally is a reality...because it's in print. Petra Early Monday morning was the article demonstrating the fact that Sudani was considering changing the rate of the dinar from 1310 to 1.32 which for us in the United States is $0.79... Then the very next day we get an article talking about the new small category notes. They're talking rate, they're talking notes. And then you got Tannini the Commerce Director there talking about a surprise could happen within hours in regards to their monetary reform... Samson Article: "Parliamentary Finance: We look forward to coordinating with the Central Bank to increase the value of the dinar and control the market"
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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 We still do not know the timing, but I am going to reiterate that the weekend before last they formed a committee to help inform businesses and citizens how to deal with the changing rate and changing prices that is going to occur. This is huge. Frank26 There was an announcement made by the Prime Minister Sudani...He told the Iraqi citizens, I'm going to add value to your currency. He used a solemn oath that swears upon Allah, their God. You don't go around breaking that promise. It was exciting to realize the Prime Minister told the people, I assure you, I give you a solemn holy oath were going to add value to the currency...Sudani told the citizens we're going to raise it to $1.32...He explained if we lift the 3-zeros from the exchange rate we'll be able to give you $1.32 in country. That's good purchasing power. Clare Article: "After hosting the Governor... Parliamentary Finance: We look forward to raising the value of the dinar" Quote: "...Thursday, the Parliamentary Finance Committee expressed its aspiration to coordinate with the Central Bank to increase the value of the dinar and control the market." Mnt Goat There are many who want to force the reinstatement which is like me telling you that on March 19th (first day of Spring) suddenly overnight everything will change and wamoo, we will have spring. But we all know it doesn’t work this way and so we must make this logical analogy / comparison to our investment the RV. Just like mother nature has a plan for Spring, the CBI too has a plan and it takes time to execute it.
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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 If any of you are questioning if this is ever going to happen …I want to give you some reassurance…. Here we are at Thursday and this is the second time this week …directly from the Iraqi Parliament: Article Quote: “Parliamantary Finance and CBI discuss increasing the DINAR and controlling the market”. In other words they need to remove restrictions on the banks and increase the value…that is how they control the market...They are still openly talking about it…again. Militia Man ...If they adjust the exchange rate and delete the zeroes who's going to need the dollar when they apply the new Real Effective Exchange Rate to it? Nobody is going to need the dollar because the dinar is going to be stronger than the dollar and that's my opinion. We are in a situation where ...a political crisis...or surprises could change the exchange rate and that could come within hours... Tishwash Article: "Parliamentary Finance: We look forward to coordinating with the Central Bank to increase the value of the dinar and control the market" MarkZ Question: Anyone heard anything about Iraq going by itself - not all countries? Mark: A person in our community had an interesting conversation. He has a personal relationship with a banker. Quote: "Met for dinner with a banking executive...the banker told me about the basket, or first round is going to be only the Iraqi dinar and the Iranian Rial. He said those countries are gold backed and their internal banking systems are more set up…more so then the others are. The dong should be ready to exchange by late fall...He did not know about the shotgun start and said it will be easier to roll them out piecemeal..." [post 1 of 2] MarkZ I take it as a very good sign...It is encouraging to hear an active conversation about it and that it’s going soon...I am still hearing that the majority of the currencies will be going all at once. But, its best to be prepared. Question: if Iraq and Iran go first and alone, I wonder- will the currency still be allowed to float? Mark: I would assume “YES” …I believe all currencies will be allowed to float after this. Because of the underlying asset values. [post 2 of 2] Babysmom ...THE DINAR RATE OF $1.32 IS WHAT THEY ARE HOPING WILL COME OUT IN IRAQ. BGG Article quote: “The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320. Implementing such a decision is likely to significantly increase Al-Sudani’s popularity.” ...The article was published yesterday & I am suspicious of it’s veracity and timing. It always seems to get tossed around during election season. Furthermore, how they decide to get from 1320:1 to 1.32:1 is another story entirely...Everyone will get all excited, when in reality… even if this is a legit move – it could still go 20 different ways. Mnt Goat Don’t be discouraged, the currency reform and banking process has come a very long way in a short period of time since January 2023 compared to waiting since 2011, when the plan originated with the IMF on how to turn the currency back on. So we went 11 years with not much progress then suddenly a huge jump which tells us something is up. This alone is all telling...If Iraq is to progress, as they say is their goal, they will need a globally recognized and traded currency once again and get it VERY SOON!
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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 hold millions of dinar and people act like I don't want the $3.22 exchange rate with the current currency, 'No, Pimpy doesn't like it. He doesn't believe in it.' What the hell are you talking about? I own millions of dinars. Nothing would make me more happier than for them to jump up to a $3.22 rate and keep the same bank notes that we got now. Clare Article: "Al-Sistani: The beginning of the month of Ramadan is today, Tuesday”
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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 OPEC+ members agreed to extend voluntary production cuts by 2.2 million barrels per day in the second quarter of the year...Iraq is losing anywhere from $2 to $3 billion a month in OPEC's volunteer program to cut oil production. Militia Man Article: "Economics website: A new application enhances investment movement in Iraq" uote: “...The new index, called (RSISX Total Return), compares currency exchange rate changes and the returns achieved.” It is not surprising they have a new RSISX Total Returns index for currency exchange rate changes. With Al-Sudani's government mention of 1.32 dinars to the dollar yesterday and then today we see that there is talk of smaller denominations. Small enough to make change for 250 notes...Put all that with this new index being launched suggests for me, is that they are ready for change to come and not just in the exchange rate but...as in fils...This is another good sign Iraq is opening up to the world in a big way. Frank26 The banks are not saying as much that it's a scam. If you hear someone that says it's a scam it's probably someone at the very front line. But once you get past them we're finding they have JP Morgan representatives at every Chase Bank it seems like. Perfect timing...Not one bank story has been negative in 8 or 9 days or so...The resistance is getting less and less. The force field is no longer at 10, it's probably at 1 or 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 MarkZ Q? : If Iraqs rate comes out at .76…Wonder what VND rate will be? Mark: ...that could mean...dong at .36 - .40 cents…we always thought the VND would be 3/4 of the value of the IQD. And I believe those rates are the worst case scenarios. So nobody panic. I still very much think that we could get up to $4 on the dinar…and closer to $2 on the dong... Walkingstick [Iraqi bank friend Aki Update] They had a zoom meeting. It was with the CBI, all other banks and US Treasury, IMF, everybody, they were all in this zoom meeting. They told him a lot but the only important thing...was I was told once again, 'We need you to be back at the bank because at anytime you are going to be very busy.' Aki is just like you and I, sitting there waiting... Frank26 The transitional period is what you're experiencing right now...in the monetary reform. Pimpy Does Iraq have the ability to be similar to what Kuwait has? Of course it does, but they got a long way to go...When I first started talking about the Iraqi dinar, I thought Iraq is going to be just like Kuwait. Until you actually start really digging into it and researching you find out they're nothing alike... Militia Man This is fascinating because this is coming from the Iraqi government today in the same context of Al-Sudani. Article Quote: "The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320. Implementing such a decision is likely to significantly increase Al-Sudani's popularity." You think!? Bring the purchasing power of $0.76 - that's what it equates to...deleting the zeros just like we've been talking about. Frank26 Article: "Coordination Framework seeks early election to curb al-Sudani's growing popularity: analysis" Quote: "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars." Now do you understand why they left it at 1320 even though we suggested that they would take it to 1200 or 1000? Samson Article: "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity" Mnt Goat Article: "THE NEW IRAQI OIL LAW UNDERMINES THE DREAM OF KURDISH INDEPENDENCE" Quote: "On February 21, the Federal Supreme Court ruled that the Iraqi Kurdistan Regional Government must hand over “all oil and non-oil revenues” to Baghdad." This is a solid start to getting the Oil and Gas Law completed and to parliament for a vote. This must be completed to finish a Constitutional requirement to fully implement the new 2005 Iraqi Constitution. This was told to me a decade ago that this is critical to normalizing Iraq. So this is all excellent news for us today...
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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: "Advisor to the Prime Minister: The stability of the exchange rate gives relative stability to gold prices" Quote: "The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the relative stability of gold prices in Iraq due to the value of the dinar... What determines gold prices today are the international gold exchanges, noting that the stability of the official Iraqi dinar exchange rate to the dollar gives relative stability to gold prices.” Nader From The Mid East Article Quote: "The Iraqi government and the Central Bank are dissatisfied with the nature of the US treasury's dealings with Iraqi banks...There is an effort to lift the sanctions..." They need to take off the sanctions on Iraq IQD. MarkZ Question: Are they going to knock it out this week? They need to knock it out this week…. A lot of people are expecting it this week in the banking world…we will see what happens...They may need to, but it's not likely for several reasons..! Sandy Ingram IMF's report on Iraq's economy. This is a critical report dealing with Iraq's...financial future...Iraq could easily be on the path to a higher exchange rate depending on how the country responds to the IMF recommendations...Iraq's non-oil economy is expected to continue to its growth in 2024 after expanding by 6% in 2023. The IMF also reported Iraq's economy is projected to rebound in 2024...Iraq needs more sustainable non-oil growth according to...the IMF mission.
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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 Article: “Iraq’s ruling coalition may call for early elections” The Iranian lined up divisions seem to be afraid of Sudani. But he has about a 78 percent approval rating from the people and has gotten a lot done. But this statement is what they fear the most right now: ”The Iraqi government is currently weighing the question to change the currency so that the official cost of the US dollar will be 1.32 Iraqi dinars instead of 1320.” Implementing such a decision is likely to significantly increase Al Sudani’s popularity. [post 1 of 2] MarkZ What does this mean? It means they don’t need the zeros anymore. This means that each Iraqi dinar would be worth .76 cents. This was right from Iraq’s own paper. And they are “currently weighing this question” I still very much believe we will see a higher rate than that …but let’s say each dinar is worth .76 cents. They may be coming in at .76 and letting it float. We don’t know for sure...I still believe it will be higher... But to see it openly discussed in their news is huge. [post 2 of 2] This all sounds amazing. I hadn't seen the article, but ...Let's hope they pull the trigger.
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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 JP Morgan I think is going to be extremely important to us...Don't just think that you're going to be limited to Chase and JP Morgan. I used [them as example] only so that it could be of help to you. To guide you. At least you know where you can start. If you don't like them go somewhere else. Militia Man They're not going to...build a country at 1310. The math doesn't work. I don't care how many times people try to figure that out. Think about it for a second...1310 dinars to buy a pencil but if you can buy 100 pencils for one dinar because the dinar is worth $3.00, $4.00 or more. How many pencils can you buy? Think about that in bricks, steel, sewer systems, infrastructure, lighting, military operations, airplanes, guns and weapons, grocery stores at 1310 as opposed to 2, 3, 4 bucks. They specifically bring up and invoke 'previous eras' not me. I just report that... MarkZ Comment: Ramadan now…could be a while. MarkZ: If Kuwait is any kind of example…they don’t mind revaluing in Ramadan...I still think we could RV before April. But, nobody knows the exact timing. Pimpy What is the difference between a mixed economy and a market economy? In a mixed economy the government plays a more active role in regulating and controlling certain aspects of the economy while in a market economy, the government's role is limited to maintaining a level playing field and protecting property rights...We know right now Iraq has a mixed economy...[with] a lot of state ran businesses...
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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 IMO This is an RI not and RV like the other people tell you. The RV was a long time ago...This is an RI. It is to be reinstated. I believe it's trying to reach $3.22 so he can be on par and then float in the basket and gain more value. Pimpy Deleting the zeros off the currency will not change the price on the ISX [Iraqi Stock Exchange]. Changing the exchange rate will have an impact on the ISX. Clare Article: "Central Bank: Inflation in Iraq decreased to 4%" Sandy Ingram Iraq's stock market - A joke to many, a profit for others. Article: "Nasdaq signs New Agreement with Iraq Stock Exchange". This new Iraqi dinar stock market is now electronic and instead of taking three weeks for a transaction to complete it takes only five minutes. Militia Man Everybody realized they have all these income streams. You realize it's not just going to be oil. The non-oil revenues, tourism, agriculture, liquid natural gas, natural resources, all those are going to be part of the future and so that's really powerful. Paulette Community Comment: "...The rate doesn't matter but "freedom of movement of capital" is important. That is Article 8 compliance." They cannot be Article 8 compliant if the country is functioning under a MCP. An MCP [Multiple Currency Practices] includes a parallel rate of greater than 2% of the official rate by IMF definition. Saleh said last year that the parallel rate is "REQUIRED" to be 2% or less of the official rate...This 2% or less needs to be maintained for a period of 90 days. The parallel rate is still around 14% difference. Frank26 Each one has done their job - BOA, Chase, CitiBank, Wells Fargo. They're all in the chain of command now. These banks are being informed of what's going on. I also believe...the ones [banks] inside of Iraq are receiving new machines that have the software for the new lower notes...Chase, they don't need that software because they will not be proving/inspecting it [lower notes] they're just the middle person who sends it to the others. The others at JP [Morgan] have the new technology...machines...software. They are the ones training and practicing 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 Frank26 [Indiana Chase Bank Story] A nice guy sat down with us asked us questions about opening accounts...In the process of that being done...He asked me a simple question how much are you planning on putting in here? I told him it was going to be a sizable amount. He said, give me a figure. I said 7 figures at least... He looks at me and says, dinar? ...I said absolutely. He said he had a meeting yesterday...It wasn't long after that a nice looking young man...shook my hand and said Hi, my name is so and so and I'm with JP Morgan. FRANK: Oh my word, you're the 5th one that's told me this. It seems like they're bringing in JP Morgan representatives inside of Chase Banks. That what I'm noticing. BANK STORY MAN: This guy from JP Morgan he says...we've been waiting for this a long time haven't we... FRANK: This is exciting what's going on...I often wonder if Frank makes up these stories. Pimpy People are pissed at me because I'm telling them of the possibility they should at least be aware of...What I'm talking to people about are the possibilities in the directions the IQD can go. I'm not saying it's one way or the other. I'm just saying these are the possibilities...These are just possibilities, we don't know. We can wake up tomorrow and the exchange rate is now $3.22...they have not...redenominated [LOP]. Then everybody is happy... Militia Man Article: "We will soon announce Iraq accession to the World Trade Organization" They haven't quite said it yet but they're saying it. Isn't that telling? Sandy Ingram On Monday of this week the president of Iraq Adbul Latif Jamal Rashid, met with the special representative of the Secretary General of the United Nations in Iraq, Jeanine Hennis-Plasschaert. In that meeting the President of Iraq...stated Iraq is keen to work with international organizations to confront challenges in the field of environment, climate, health, and education in a way that ensures a decent living for Iraqis. It is our hope as investors that a 'decent living' means an increase in the value of the currency. Clare Article: "Iraq completes requirements to join WTO” ALL REQUIREMENTS HAVE BEEN MET FOR THE WTO ACCESSION... IT CAN HAPPEN ANY TIME, DON'T LET THEM FOOL YOU. Pimpy If you want to see an increase in the value of the Iraq dinar then there are things that need to happen in Iraq in order for the dinar to increase in value. One of them is they have to have a stable and robust economy. Then there are things Iraq need to do that continues to support, stabilize and strengthen the Iraqi dinar. One of those big steps is joining the World Trade Organization... Frank26 A lot of you are asking me, 'Do you think they'll do this new exchange rate during Ramadan?' I would prefer before or after Ramadan, not during. Ramadan is a holy time. You don't go around celebrating that you go purchasing power. No. You go around worshiping and honoring God. Paulette Question: "When is Iraq supposed to be in the WTO?" Not before they pass needed legislation, eliminate the MCP [Multiple Currency Practices] and are recognized as having accepted IMF Article 8 obligations. Accession Committee next meeting with Iraq is planned for the "middle of the year".
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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 Militia Man I got a lot of blowback from me using the word imminent. I didn't use those words, that wasn't me talking. It's not me telling you - They are telling us. Article: "Iraq announces its imminent accession to the World Trade Organization" I didn't say it other than reiterating what the quote is...They said that. Frank26 Article: "Dinar and dollar" Quote: "In a televised interview with the Iraqi President, Engineer Muhammad Shiaa Al-Sudani, he uttered a very important phrase (keep the dinar).Today, through my humble vision, I bear witness that the Iraqi dinar will return to its lofty economic value” Holy CaCa! I have to tell you, if a middle easterner ever says to you...I bear witness...it's like swearing on your mother's grave. It's a promising that can't be broken. It is a gift that is given...I believe this article is unbelievable...
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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 Being admitted into the World Trade Organization is going to be a huge step...This is why I'm saying most likely you're going to see the Iraqi dinar go up in value, in increments. Once that gets started I anticipate it going at a really fast pace. Frank26 You have the 25,000 dinar note. You don't take a pair of scissors and cut out the three zeros. A lot of you think that. No...The official exchange rate... .00085971 (Was, not is). You don't go around thinking to yourself they're going to take a pair of scissors and they're going to cut the physical dinar. No. No. No. What they're going to do is take the exchange rate...put the decimal point there so the exchange rate then would be about .86 cents [rounded off]... What does that mean? If you have 1 dinar you have $0.86 cents when they lift the 3 zeros from the exchange rate...It's a reinstatement...back the way it was. Militia Man Article "The dinar and the dollar" Remember Al Sudani told everyone that the Iraq dinar will return to its lofty economic value because the dinar is stronger than the dollar. There are things that are coming back up. This is Muhammad Rasheed, he's talking about the national currency...the dinar. He's stating that the economic world is witnessing a qualitative boom in awareness. A lot of people around the world are figuring this out and very soon it will overthrow the dollar. So the dinar is going to be stronger. Al-Sudani told us that...This guy Muhammad Rasheed is holding his feet to the fire... Fiat Padawan [Reply to Frank26's dinar on Forex post 3-5-2024 below] ...The underlying charting technology is from TradingView...This software handles a wide variety of markets and products. You have to be careful about what you put in the search criteria...“USDIQD” is NOT the same as “USD/IQD”… the first refers to the forex market, the latter to index funds. In fact, as index funds “USD” is “ProShares Ultra Semiconductors” (pre-market trading at about $100), and “IQD” is “Wisdomtree International Quality Division Growth Index” (trading at $34.61), so you can see 100 / 34.61 = 2.89 ...It has nothing to do with the IQD currency...
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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 Walkingstick [Iraqi Bank Friend called #1 Update - He owns 7 banks, 2 in Jordan] About two weeks ago we told you IOO the banks of Iraq were going to be receiving sample sheets/specimens. They were very very precise pictures of the lower notes. It turns out #1 has them...They started to practice and use them but they needed more help so they requested. You will see this request on the CBI website probably within this week where they are requesting help with the security features in the small notes that they are practicing counting, sorting and training right now...The new software will be with them and the banks within this week. Fnu Lnu [Reply to Frank26's Dinar on Forex post 3-5-2024 below] There is no such thing. A) The rule of One Price, and There is no back side or private side to FOREX...With that being said: There are platforms in Shanghai and Singapore that are totally unregulated. It is the wild west of commodity trading and they create investment packages where they bundle up packages containing many different speculative investments into a bundle and trade those. But that isn't happening now either though it was a thing with the IQD several years ago but not now... Pimpy Within the past year we have seen more and more exciting news. It isn't just talk and hype...This time we actually see articles that are showing the progress that Iraq is making in order to start working and trading with the international markets. They're doing all they can to strengthen their currency while at the same time show stability... Things are going good. They're actually going a lot quicker than I anticipated. Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV is saying we are now using the best and most improved international electronic payment system they said it's one of the best in the world with all the security features and all of this is from the CBI... FRANK: The electronic payment system is a huge key to the monetary reform for the float...Notice everything is coming from the CBI and not one word of negativity from anybody else. Militia Man Article Quote: "Accession [Into WTO] is imminent"...What are they waiting for? ...Iraq's going to have to make a decision on their real effective exchange rate. That's my view...You can't have Iraq having imminent accession to the international markets through the World Trade Organization without having a Real Effective Exchange Rate. Most of us believe 1310 is not a real effective exchange rate. Pimpy There's a lot of hoopla going on about Iraq joining the World Trade Organization and rightfully so. This is one of the big steps that Iraq needs to take in order to rejoin the international community... Article "Official: The issue of Iraq's accession to the World Trade Organization is coming soon" Suzie [Reply to Frank26's Dinar on Forex post 3-5-2024] Just MY opinion, no smarter than a dumb blonde can be, I think we're over-speculating on this Forex thing. I've done those calculations same as most and my OWN reality is none of it means anything until Iraq gets the dinar rate down to the 1-1 and then I think we'll see the rate rise quickly to what we're all looking 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... So, take everything with a grain of salt ... RON Pimpy We all know this, the Iraqi dinar is not a scam itself. The Iraqi dinar is legitimate but there are people out there that use Iraqi dinar to pull off scams. Frank26 I told you a long time ago, the IMF said to the world, Iraq is in the process of adding value to their currency. You can look it up on the IMF website. How come they don't say that about any other currency in the world? Article: "The International Monetary Fund promises to support the digital transformation in Iraq" The digital transformation is what's going to allow the Iraqi dinar to float in the basket internationally. Mnt Goat Article: "OFFICIAL: THE ISSUE OF IRAQ’S ACCESSION TO THE WORLD TRADE ORGANIZATION IS COMING SOON" Quotes: "the issue of Iraq’s accession to the World Trade Organization was imminent,"; "Iraq is seeking to enter the World Trade Organization, and the issue is coming soon."
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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 [Colorado Bank Story] I called my bank [Well Fargo] and had a conversation with someone over the phone and they treated me like I just came out of a cave - 'No. There's no way. No we don't handle [dinar].' All that negative talk that everybody's getting. Then today I asked to speak to the bank manager for other purposes but while I have you on the phone, lets [try again]. He [says] yes I'm very aware. Clare Article 1: "Al-Muslimawy: There is a policy to reduce the dollar exchange rate and control it in Iraqi markets" Article 2: "A government advisor to Al-Ghad Press: Dollar prices in the markets will gradually decline" Sandy Ingram In 2023 Vietnam recorded approximately $28.5 billion US in tourism revenue...Iraq has the ability to generate this same amount or more each year due to the historic landmarks and religious hot-spots in the country. All Iraq has to do is implement safety for tourists. Egypt generated $10.7 billion in tourism in 2022 and $13.1 billion in 2023...Iraq is the birthplace of the top three religions in the world today - Judaism, Christianity and the Muslim faith. There are important landmarks within Iraq for all three of these religions, including the ancient city of Babylon. MarkZ ...still getting plenty of chatter from groups that they are waiting for the shoe to drop…everybody is at the edge of their seats. Walkingstick Question: "Why is the IQD the only currency increasing in value that we're seeing on Forex? It's taking off like a rocket." The investors. They're not stupid. They know. The investors smell the security and stability. But the real reason they have security and stability is because they have a new rate. The IQD is NOT on FOREX. It all started with the contrived website forexlive.com... Pimpy Question: "Why would [Iraq] let anyone benefit from this?" Why wouldn't they? It's the Iraqi people that really need to benefit from this...It's not their fault their leaders are all wack-a-doodles... There's enough resources in Iraq where they should be living pretty dang good over there. Increasing the exchange rate and giving them more purchasing power would definitely change their quality of life...Once Iraq can get their crap together and it looks like they're there - No more sanctions, get into the World Trade Organization, get back on the Swift system...Forex, finish the Port of Faw, finish with the Development Road Project, all those things are going to bring a lot of money into Iraq and their currency is only going to get stronger.
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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 Militia Man The Central Bank of Iraq just told Iraq that you guys can use dinar to buy multi-currencies. To do what? Clearing and settlement in the system with accurate and facial data. Those two things right here are solidifying that there's something happening... Pimpy Article: "Central Bank announces the increase in the volume of foreign reserves from 140 to 148 trillion dinars" That's perfect because...the more reserves you have the easier it is to protect your exchange rate. MarkZ I have a lot of sources expecting it to break loose in the next 2 days of this week…hope they are right.It would be great if this were true, but we've heard this so many times before from Mark.
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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: "Does deleting the currency’s zeros affect its value?...” I called my CBI contact...and I was told to expect the Project to delete the Zeros to occur very soon. WOW! WOW! WOW! Then...out pops this article, then another and...yet another all dealing with the Project to Delete the Zeros- coincidental? WOW! WOW! WOW! I don’t think so...It's now on the radar scope for the CBI for the very near future? [Post 1 of 2] Mnt Goat remember...the difference between RATE and VALUE...the value is in the dinar already but not reflected yet in the rate. There is no need to increase the value if the TRUE value is being suppressed by the 3 zero rate...Economic expert, Durgham Muhammad, said to the citizens and I quote – “that deleting the currency’s zeros does not conflict with its value”...Okay, so...we all know the rate is being artificially suppressed ...Once the 3 zeros are dropped, (not lopped) the only thing that will change by the Project to Delete the Zeros, is the realization of the TRUE value through its currency. [post 2 of 2]
