|
Search the Community
Showing results for tags 'articles'.
-
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 "Central Bank: The volume of foreign reserves increased to 113 billion dollars" Quote "Today, Saturday, the Central Bank of Iraq announced that the volume of internal debt has risen to about 70 trillion dinars, and the volume of foreign reserves to 113 billion dollars. -
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're fearful that all of a sudden you cannot exchange your Iraqi dinar anymore because the CBI says that they're all null and void, the IMF has rules and regulations and one of their rules is you have to notify the populace of your time frame. They cannot necessarily come out and say,'We're going to float our currency; without telling you how long they'll float their currency. Some countries don't play fairly but I think Iraq has to, because of the way they're under the thumb of the IMF, WB, WTO and US treasury. I think they'll follow the rules and laws. Enorrste They're going to switch from a 'Keep my money in the mattress' economy to forcing these people to take their money out of the mattresses and to put it into banks, and the banks will then send the money to the central bank, and the central bank will burn it...If they want to do any international trading at all they're going to have to use electronic methods such as Visa/MasterCard...The process is beginning. This is really key to moving toward getting to the float, which is what we're looking for. Yada Article: "A statement from the Central Bank regarding the campaign to support the dinar" Quote: "...the Deputy Governor of the Central Bank, Ammar Khalaf, announced the success of the campaign to support the dinar, and while confirming the application of controls that helped stabilize the exchange rate, he pointed out that there is no problem with the amount of foreign currency supply." This statement will nullify a few in dinarland who think there too much money out there. Fact is, that money in the central banks of other countries will be used to invest and buy in Iraq because they will only be using dinars. We are in the best of positions, the one about to enter the banks. Militia Man Sudani...asked to come to the USA and was denied. My view is he was told...three items to get to work on. He did. We now see the UST show up after that. So, it appears an assessment was made as to where they were in getting this completed and likely found they were sitting on the ball on the side lines.. not good. Hence the arrests, the Rafadain Bank shake up, etc.. The level of focus now is fascinating to me. The IFC / WB still in town!! Al-Alaq having had a progress report that looked good..! Kaperoni You've got a brand new 30 to 50 story Central Bank building that's going to be state of the art and you're going to be represented amongst the world as the Central Bank of Iraq but you're going to have a weak currency or a currency that doesn't reflect the actual economic success of your country? I don't think that's going to happen. I think that's why they're launching...the stock market, the diversification of the economy, all of that is a prelude to 16 months from now. Petra Question: "Would it be your opinion that the UST folks showed up to click Sudani's heels, or is it more than that?" It is clear Sadani let them in because his people could not get it done, so they brought in “the pro’s” to make it happen...He wants this now...they [UST] were not welcome with open arms because it demonstrated their inability to “perform!”...if they had done their job…there would have been no need for the UST to travel back to Iraq...Sadani made the commitment…the UST is there to get it done. As to their role, I can only speculate that it was due to the lack of progress with executing the new rate, new notes, etc.
-
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: REVITALIZING THE STOCK MARKET" Quote: "...there is an urgent need to activate the role of the stock market as a mirror reflecting economic activity in the country"; Quote: "It is said that the size of the cash block that is hoarded outside the banking circulation space amounts to about 70 percent of the cash issued " Remember a lot of this cash is outside the country in our pockets and they won’t get it unless they reinstate the dinar and we can go to the bank and exchange at a rate we want as investors. Heck they sold us this currency in a time of need and now, as they are so rich, they have to pay us for it with a higher exchange rate.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Tishwash Article: "Parliamentary Finance: Tomorrow you will witness the release of conservative allocations within the budget" Quote: "A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, confirmed the launch of the governorates' allocations, tomorrow, Sunday." They are still saying tomorrow we will see the launch of budget allocations.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is telling us our population here in Iraq has swelled to 43 million. They're talking about the mechanisms to help support the dinar and how to get away from the dollar. FRANK26: ...You know what the mechanism is. To support the dinar, a program rate is not a mechanism. The program rate cannot support the dinar. And to get away from the dollar - so they can introduce the new mechanism, the new exchange rate. MarkZ Member Comment: Walkingstick, who owns a bank in Iraq…said that big CBI meeting with the big three took place today or yesterday. They were given the timing of the release. Value, Note count and type of denominations. Mark: That would certainly explain why there is a sudden flurry and conversations over the last couple of hours...Rumors that “a dam has broken” in a good way... Contacts are giddy about the 15th through the 18th. So this news would make sense. I can’t say if its accurate or not but it would explain all the chatter that has suddenly erupted within a short time... Enorrste Article Quote: "JP Morgan had previously handled the process of financial transactions for Iraqi trade with China..." Isn't that amazing. China and the United States, two of the biggest trade people in the entire planet, and Morgan has invested China to participate with America to go into Iraq. It doesn't get bigger than that. That's the two biggest traders in the world. Wow. Nader From The Mid East Economy, Economy, economy, that's what's going to drive the dinar up. Walkingstick That CBI meeting with the big three took place today [yesterday]...they were given the timing of the release, value, note count and type of denominations. Yada Article quote: "...Through our follow-up with the Ministry of Finance, next Sunday, allocations to the governorates and ministries will be launched to implement the 2023 budget and send instructions for implementing the budget, its schedules, texts and agreed items..." The instructions, is another name for the Rates. Militia Man The Iraqi Central Bank has many measures, packages as they put it, in place and have been in place to curb the illegal parallel market that everybody seems to talk about. The bottom line is if they adjust their exchange rate to be and exceed the US dollar that pretty much is going to go away. Kaperoni [Follow up to yesterday's Kaperoni community comment post - 1300 IQD to $1 USD vs. 1 Jordanian dinar to $1.41 USD] Also want to remind you that Iraq has trillions of dinar in circulation vs Jordan who has millions. Big difference. Iraq could never afford to significantly raise the value without reducing the money supply. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Breaking news Parliamentary Finance... FRANK: Parliament Finance? Boo! Okay what about them? FIREFLY: Says next Sunday they will start the allocations of the funds for the budget and instructions on certain projects. FRANK: 6 days they're going to give you instructions on the budget? ...the new exchange rate that is the instructions for all the projects that's inside of that budget for the next 3 years...everything waits for the new exchange rate. Clare Article: "Parliamentary Finance: The price of the dollar will decrease after the implementation of the budget" Quote: "The Iraqi dinar will gradually recover and decrease dramatically against the price of the dollar...He added, The exchange rate of the dollar in the parallel markets depends on the principle of supply and demand, and the start of implementation of the 2023 budget will mean the release of large sums of money that will lead to a greater increase in the purchase of the dollar." Mnt Goat Article: "AL-NUSIRI: IRAQ’S ACCESSION TO THE WORLD TRADE ORGANIZATION CONTRIBUTES TO THE DEVELOPMENT OF THE FINANCIAL AND BANKING SYSTEM" Quote: "one of the most important returns and benefit achieved by the financial and banking system in Iraq from Iraq’s accession to the full membership in the World Trade Organization is regularity in the global financial system..." come’on folks can it get any better than this?
- 4 replies
-
- 10
-
-
-
-
- boots-on-ground
- articles
- (and 1 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Question: "Does the USA have to wait 7 days after Iraq's rate change or all changes at once...?" It will all happen at once. You cannot have a duel exchange rate...it will be instant. One day you're going to wake up and see on the CBI the new exchange rate. It will be across every board, market, trading center everywhere...as soon as the button is pressed the numbers are adjusted. [NOTE: You can always see the latest official CBI rate on the CBI website - CBI.iq] Nader From The Mid East Facts...Iraq still under restriction because I listened to the speech Sudani gave. In his speech he said Iraq still under restriction and he said clearly, Iraq still under restrictions of the United States. He said it in Arabic...black and white. This administration sucks - holding Iraq back for selfish motives. RON Pimpy Article: "Billionaire Sawirls plans to launch a giant project in Baghdad" There are people who are considering getting back into Iraq to invest... Quote: "...confirmed his intention to launch a huge real estate project in Iraq representing the return of the Egyptian businessman to the Iraqi Market in which he had previously invested in the telecommunications sector 20 years ago." My friend was there 15 years ago...and he had a lot of people thinking about going back. This is exactly what we want. So congratulation to Iraq. The more outside investors you got coming in the better it is for your country. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Saying the price of the dollar will decrease after implementation of the budget. FRANK: Well of course! Samson Article: "The head of the National Commission for Investment instructs companies to pay the dues of housing units in dinars exclusively"
-
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 Everyone went really quiet since yesterday... Yesterday was so noisy with expectation and anticipation of something soon…to nothing today...It is eerily dead silent. Militia Man It's fascinating at this time...At this stage what we're looking for, because of the budget hopefully going to be exposed by Sunday...They're going to show us what's involved in that. We hope it's an International exchange rate. That's what we're looking for. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani on news saying Iraq is pursuing reforms in financial and banking sectors. FRANK: He is talking to you about the monetary reforms. That's fantastic. Exactly what we told you - the monetary reform education to you. Mnt Goat Article: "THE DOLLAR RATE WILL FALL AGAINST THE DINAR AFTER THE IMPLEMENTATION OF THE PROVISIONS OF THE FEDERAL GENERAL BUDGET" I also believe there are provisions in the budget for the project to delete the zeros and we will need the budget opened to get this work done and move ahead.
- 1 reply
-
- 7
-
-
-
-
-
- boots-on-ground
- articles
- (and 1 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "The Federal Court issues a state order to stop some articles of the budget law" Quote: "On Wednesday...The court said...that it issued a state order on 7/12/2023 that included stopping the implementation of the following articles: Article 28..57...65...70...71 and 75 of Law No. 13 for the year 2023 (the federal general budget of the Republic of Iraq for the fiscal years (2023-2024-2025) Until the constitutional lawsuit filed before this court to challenge its constitutionality, registered in the number (153 / Federal / 2023), is decided" IT MEANS SUDANI GOT WHAT HE WANTED. THIS DOES NOT AFFECT THE BUDGET FROM BEING IMPLEMENTED IMO Nader From The Mid East [Response to Pimpy's 7-11-2023 below] Pimpy saying Iraq still under restrictions of the United States...Let me tell you something. Pimpy is right. Iraq is still under the command of United States...Maybe 50% free but not 100% free...Iraq is going to be under the punishment of United States for a while. Iraq is working hard to gain the trust of the United States government...[Post 1 of 2] Nader From The Mid East Anything Iraq does it's for the okay of United States. If United States says no, nothing will happen. So Pimpy is right, still a lot of punishment still there...You never heard United States declared sovereignty to Iraq. That never happened yet. When that happen everything else will change...It's not going to take long to get out of there because they're working hard to show them we're capable of control our own country...[Post 2 of 2] MarkZ Member comment: [Nader says the RV will never happen until the US gives Iraq sovereignty?] Mark: That is exactly why we see Iraq behaving the way it is behaving. Nader says Iraq is still under the command of the US. Iraq is paying off its debts…that is why they filed with the WTO for ascension…It is bringing its banking up to snuff... Iraq is doing everything it needs to do to support a higher currency rate. They are doing everything it needs to do to remove the US influence. They want the US completely out of there. I believe they have made tremendous progress. …I believe they are close to being able to pull the trigger and go their own way without the US… I believe they are closer than they are telling us…and they are using smoke to cloud the timing. Mnt Goat Article: "THE IRAQI PARLIAMENT WILL RESUME ITS SESSIONS NEXT WEEK" On the thirteenth of July, the Iraqi Parliament will resume its regular sessions, after the end of its legislative recess. That's Tomorrow..! Pimpy (7-11-2023) I made a comment that Iraq was still under restriction, they have to ask the United States permission to do everything and somebody said, 'No they don't man. They have their own sovereignty blah blah bah. They could do whatever stye want.' That's not true. Article Quote: "The Coordinating Framework called on the government to address the United States side to release the dues of importing Iranian gas and not to use the file politically." Hmmm, sounds to me like they have to turn to the United States to get their money and permission...Yes they have restriction on their currency. America controls them. Once again I come with recipes and show you I was correct in what I was saying. There's still restrictions. [REPOST for Nader above]
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Militia Man Article Quote: "Al-Sudani received the head of the French company at total energies after assigning a deal with a deal worth 27 billion dinars..." I don't know if that's a mistake but that's what it says...$27 billion dinars. You go down a little bit... Article Quote: "French Giant total energy signed an energy agreement worth 27 billion dollars" So there you have it. Two ways in the article. Why would they do that? I don't know but they did it. You have to ask yourself are they broadcasting something...? Is it a 1 to 1 ratio? Don't know but that's what this article says. MarkZ Articles out today of deals being made in Iraq. Like the 27 Billion Total gas deal…. Businesses don’t invest billions of dollars without being sure of a ROI. If all of these companies are investing – they are pretty dang sure of the outcome. They are pretty sure they will make a good return on their money. They cannot do that unless Iraq makes a move with currency and stability. Some of the biggest companies are banking on the fact that Iraq is going soon and quickly. Pimpy Question: "Is the Iraqi dinar asset backed?" No. It's not an asset backed currency. Frank26 Do we need laws? No. Do we need Erbil Stock Exchange set up? No. All that can be done afterwords. Do we need budget signed, sealed delivered? No. Do we need to satisfy any country that needs to get paid by Iraq? No. In fact other countries are paying Iraq right now just to do business/just to pay attention to them right now. So the monetary reform only needs the exchange rate? Yes, That's right.
-
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: "Wholesale corruption" in the Rafidain Bank... the most prominent reasons for the overthrow of its administration (documents)" Quote: "The current management of Al-Rafidain Bank, which has been withdrawn, is accused of several cases, including causing waste of public money and mismanagement, and making administrative transfers on the basis of nepotism and nepotism away from the standard of competence and integrity, and the rise of unqualified people to assume administrative positions." Mnt Goat Article: "AN IRAQI PROPOSAL TO DEAL IN DINARS INSTEAD OF DOLLARS WITH IRAN" Quote: "...I suggest Iraq that all our financial dealings be with Iraq in dinars" This is excellent news and could not get any better. This is one of those WOW articles. MarkZ Article: “Basra looks forward to the results of “Trillion dinars” of petrodollar funds” They are looking for money coming in from oil sales…in the Kurdish region. And the funding of projects that come along with that funding…This is just one more clue that the HCL law is coming…if not already done.
-
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 Question: "Kuwait has $3.29 dinars. What do they have that Iraq doesn't? A currency that's free of sanctions and restriction is what they have. For now Pimpy, but not for long..RON Frank26 Here's one I get a kick out of, Q? : 'Hey Frank what I belong to is tier 4. What tier do you belong to?' A: The ones coming out of my eyes! There are no 1, 2, 3 , 4 tiers. It's illegal. It would be impossible...No. There is no such thing as tier 1, 2, 3 and 4. Everyone goes to the bank and exchanges and that's it. Nobody gets treated special... Sandy Ingram The good news is the mainstream news media is saying the IQD is expected to increase in value as the country becomes more stable. MarkZ We are expecting…and most of my sources are in agreement that we should have a very action packed first part of this week with news. Hopefully we will get something that dispels the rumor of no RV until “way down the road” or 2024 or whatever…They are trying to keep the riming “cloudy” Especially in Iraq. So when you hear these things- do not panic. Enorrste JP Morgan [bank] is ready to leap into the fray...Their words are amazing, 'Bring it into the world trade system'... They're [Iraq's] going to go from being a little regional area to being a world trader thanks to the efforts of JP Morgan signing this agreement with the Central Bank of Iraq. They're ready to role...You can't do this in Article 14 of the IMF charter. I suspect the IMF is behind all of this because they said to the biggest bank in the world JP Morgan get your ass over there and get this thing on the road. I wouldn't be surprised to see a change to Article VIII within months...Much sooner we all hope..! Enorrste, it's good to have you commenting again, you've been silent for too long. RON Clare Article: "Parliamentary Finance Talks About The Stage Of Implementing The Budget.." What Are You Waiting For? Quote: "...We will wait for the court’s decision regarding the contested articles that there will be a state order to be issued, and in the event that it is not issued, the Finance will continue." Frank26 We are right on the edge of the cliff of the monetary reform, on our tiptoes leaning forward with our arms open, our head down waiting for a gust of wind to knock us over. That's how close we are. Mnt Goat There is not much more we can do but relax and let the reinstatement come to us. ...we have not heard even an update on the project to delete the zeros. Normally Ali Al-Alaq is real good at giving periodic updates on this event. He has been back in the seat of CBI governor now for almost 6 months and still no word. I am told by my CBI contact that they are still working on it and plan to do it very soon. This is all the news I can get on this topic.
-
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 made a comment that Iraq was still under restriction, they have to ask the United States permission to do everything and somebody said, 'No they don't man. They have their own sovereignty blah blah bah. They could do whatever stye want.' That's not true. Article Quote: "The Coordinating Framework called on the government to address the United States side to release the dues of importing Iranian gas and not to use the file politically." Hmmm, sounds to me like they have to turn to the United States to get their money and permission...Yes they have restriction on their currency. America controls them. Once again I come with recipes and show you I was correct in what I was saying. There's still restrictions. Frank26 If you truly truly have a need for an 800 number...then call the United States Treasury's 800#. Why? Because all the banks in the United States belongs to them. The United States Treasury will tell you exactly which banks are going to exchange the Iraqi dinar. They're not going to tell you that right now. That's not happening right now. So if you're interesting in knowing what banks, call the US treasury. They'll tell you every bank that's doing it... MarkZ Question: what do you think is the number 1 reason we haven’t seen the RV yet? Mark: Clean-up on aisle 3. This is a massive undertaking. When they pull the trigger- There is going to be no stopping it. It’s going to be hard to control it very well once it starts…. There may be unrest and upheaval. They have to make sure things are prepared as are reasonably possible before they pull that trigger. They are never going to get it perfect…but it needs to go soon. Walkingstick There is a meeting the CBI is doing right now. This meeting is very important. It is about the HCL...Iraqi Stock Exchange and the Erbil Stock Exchange. Basically it's the marriage between Kurdistan and Baghdad...The CBI is also now involved with another set of meetings...to start today (Tuesday). You'll be able to sense it if you see articles talking about the CBI meeting with IMF, AMF, WB...If I was in charge of that meeting...I would tell them...I want to disclose to you...the date of the launching of our new national currency...This is just my opinion...If there's any value to it you're going to be looking for an article from the CBI that has these three entities [in it]. Nader From The Mid East You see Iran try to switch and try to pay Iraq or...paid from Iraq with the Iraqi dinars. They know something is going on. They know they're gonna make money off it. They know something that's happening...If everyone decide tomorrow to get paid with the dinar instead of a dollar from Iraq, they're not stupid. They know they're gonna triple their money...Why would somebody get paid with an Iraqi dinar? Why? Not only Iran, Turkey...Qatar...many countries are going to do the same thing...that's how it is. Good news... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Iran is now all over our news today. They are really telling us a lot. They're saying they are getting rid of the U.S. dollar and they're going to deal with Iraq only in dinars...
-
- 6
-
-
-
-
- boots-on-ground
- opinions
- (and 1 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy All currencies have some type of backing ...what supports the IQD is the oil industry. But there are other things out there like the amount of gold they buy, the amount of foreign currency assets they build up, all these things support the IQD. But when you say something is asset-backed that means this particular commodity solely and purposely supports the currency and Iraq doesn't have any assets or any commodities that solely are developed for the sole purpose of supporting the IQD. Frank26 XRP pairing with the dinar is a tell tale sign of an international float that's coming with a pairing of many currencies with the Iraqi dinar. Mnt Goat Article: "IRAQ AND GERMANY SIGN A STRATEGIC COOPERATION AGREEMENT IN THE FIELD OF COMMUNICATIONS AND POSTAL SERVICES" Does Iraq need this to RV? NO! But it certainly shows us once again just where this country of Iraq is slowly progressing more and more “open to the rest of the world”.
-
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 Paulette I do not see any reference to passing the final part of the HCL which we believe will be direct payments to the citizens. The only thing I see is the Oil and Gas Law which addresses the issues between Baghdad and Erbil. Kaperoni They are making clear steps now to create an economy in Iraq. They are trying to get people who are not working, working and people who work for the government to the private sector. Frank26 Article: "Parliamentary efforts to legislate a law that will soon end the disputes between Baghdad and Erbil" Quote: "The oil and gas law is one of the important laws that falls within the government's priorities ...the law will be presented during the new legislative term." THE HCL IS THE KEY TO THE BUDGET & THE BUDGET IS THE KEY TO THE EXCHANGE RATE. MarkZ ...I'm not hearing anything negative...still hearing things are progressing nicely behind the scenes ...I continue to get a lot of anticipation from a couple of sources...for something happening next week...I don't know if we are ready yet but I do feel that we are close...if anything happens we will announce it. Pimpy We know their foreign currency reserves are up that's one of the things that help it. We know that their gold reserves are up that's another thing that helps strengthen the currency. Governmental stability that has not been there for a long time, although this government looks pretty good.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Question: "Will the float go fast or slow?" IMO it's going to go at the speed of light. It's like a man that was in prison for 50 years and he comes out. He's going to do everything that he couldn't do in prison at the speed of light. Mnt Goat Article: "Iraq: Accession to the World Trade Organization (WTO)" Quote: “Iraq’s accession as a full member of the World Trade Organization is regularity in the global financial system in accordance with the criteria for liberalizing financial services”. Then yet more of the same good news and I Quote: “access to foreign transfers in foreign currency to the real beneficiary, and compliance with the standards of the global financial system”. Yes, Iraq is now a full member.
- 46 replies
-
- 11
-
-
-
-
-
-
-
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 Paulette The full Oil and Gas Law is still in negotiations but the framework has been established in the budget and for the next three years..... I no longer care when they pass the full Oil and Gas Law unless I see something concerning... Militia Man They've had problems with the parallel market which is an illegal market. It's the black market and they want that to cease to exist. They want to be able to be on the dollar only for foreign exchange. Internal, external, merchants, traders they want it to be in the dinar...their goal is to get price stability. I believe they are going do that. My view is changing the exchange rate to an Article VIII compliant currency accepted by the international world is going to make all the difference to the parallel market... Frank26 [Iraq boots-on-the-ground report] FIREFLY: We are being told about the budget but not in its entirety. Sudani wants to break it down and tell us about 10 different things that are in that budget. Apparently he wants some amendments or articles to be done. We're not sure if he's changing anything or if he's adding on to it. But he says it's for us, the Iraqi citizens. We believe him. We trust him and we're with him. MarkZ In Iraq the budget is passed, published and expected to be implemented anytime. Not quite certain what that means …My finance contact over there said don’t be worried about it…it doesn’t have anything to do with their ability to change the rate at this point. They have put everything into place...Expectations remain huge... Clare Article: "Al-Nusairi: Iraq's accession to the World Trade Organization contributes to the development of the financial and banking system" Quote: "Al-Nusairi said that one of the most important returns and benefits achieved by the financial and banking system in Iraq from Iraq's accession as a full member of the World Trade Organization..." Question: ...did they just say they are a full member of the WTO? Clare: IMO YES...THAT'S WHAT HE MEANS! "from Iraq's accession as a full member" Frank26 [Iraq boots-on-the-ground report] FRANK: Have they shown you the operations of the budget yet today? FIREFLY: They just started to analyze it and go over it. We believe throughout the week we will be getting more and more information about the budget as it sits. As far as the exchange rate - nothing yet on it.
- 1 reply
-
- 9
-
-
-
-
-
-
- boots-on-ground
- articles
- (and 1 more)
-
Happy Birthday USA 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 budget is not officially open to the world just yet...Sudani is working on the inners, is working on the exchange rate...the program rate is not enough gas in the tank to get the $63 trillion worth of projects done. Absolutely not. There's just no way possible. MarkZ From Iraq: Article: “Parliamentary work-no increase in social benefit salaries and 600 thousand families will be included” What they are meaning is – in their budget they are going to increase the salaries for people on disability etc…so they haven’t increased the salaries yet but have added 600 thousand new families…this math does not work without a value change. We are watching as they are rolling out their new projects in Iraq and they are going to need the new rate. Have a wonderful Independence Day everyone...Blessings..! 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 Walkingstick It is unlikely this budget is 65 trillion dinars. It's more in the billions. We simply wait for the budget to show us a new exchange rate...it's all in the accounting. They can change the rate at a moments notice just like that and they're prepared to do it...if you don't see a new exchange rate in the budget yet no worries. But the budget is impossible at a program rate. We know this for a fact. Clare Article: "Exchange companies are preparing for a major demonstration tomorrow, Monday " Quote: "The owners of exchange companies announced that they will stage a demonstration on the third of July in front of the Central Bank gate on Al-Rasheed Street, to demand a change in the bank's policy, which they described as wrong."
-
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 Have you picked up the pattern...? We're talking about the national currency of Iraq. Not the program 3-zero punished currency they have. We're talking about the national currency with the new exchange rate that is soon to come to the citizens of Iraq as promised by the CBI and Sudani. This is the vehicle they will use to go international. To float. To trade. To gain value for the Iraqi dinar. Pimpy Article: "Top 10 weakest Currencies in The World In 2023" As you go down the list Iran [#1] is one of them, which is not surprising. They're going through sanctions. Vietnam dong is the other one [#2]...Quote: "The currency is highly devalued currently but the chances are high for the currency improving considering the improvement in the economy." Did you see that? This is coming from Forbes. May 5, 2023...Iraqi dinar is 10th on the list...As you get their ducks in a row you're going to start to see the value of their currency increase... Walkingstick Now that the budget is in the Gazette what's next? To show the new exchange rate. If the rate is not in the budget remember they can change it at any moment because this budget has already been calculated for the 45 trillion dinar required. IMSO 1300 is not the rate of this budget. What is the rate of the budget? To go from trillions to billions. Militia Man They're saying Iraq ranks ninth in the world, that their raw wealth exceeds $15 trillion. That's massive...And they have a currency exchange rate at 1310? ...the Real Effective Exchange Rate is not 1310...this is the first time I ever recall Salih or anybody else come out and say Iraq's value [$15 Trillion]. What they're doing to me in my view is they're supporting they're going to make a move and they're giving justification why they can support a Real Effective Exchange Rate.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "Advisor to the Prime Minister: The market value of Iraq's raw wealth exceeds $15 trillion" Quote: “Iraq is one of the most important countries in the world, if not at the forefront of nations rich in natural resources or raw materials within the scope of the international classification of resources on the globe," Frank26 They are de-dollarizing Iraq. Why are they lowing the exchange rate of the American dollar? You automatically increase the exchange rate of the Iraqi dinar...the national sovereign currency of that country. Mnt Goat Article from Dec 15, 2021: "MUDHHER SALIH, OUTLINED THE IMPORTANCE OF THE WHITE PAPER AND ITS REFLECTION ON THE ECONOMIC REALITY" I will remind you once again it’s the White Paper that is going to get us to the reinstatement ... I also point out the clause that says they intend to move back to FOREX or a FOREX like global trading platform for the currency. Folks if you have been following the news since January you can clearly see the parallels from what is happening on the ground to this plan...it is moving ahead. Pimpy Question: "Is Iraq and the CBI collecting 3-zero notes?" No they're not collecting them right now. If they were there'd be a redenomination...trust me we don't want to go that route if we can avoid it. I prefer the exchange rate happen in increments and they slowly remove the higher denomination. This way we benefit from a higher exchange rate.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Mnt Goat Parliament is now on recess until after Eid holiday. When they come back the focus is said to be all about two issues. How to solve the budget deficit without borrowing money and to get the Oil and Gas law passed and implemented...Seems now there is a new ignited will to get it done...I will be calling my contact in Iraq CBI and getting the full scoop, I hope, on why we have not seen the reinstatement and project to delete the zeros as they told me it would occur this week sometime. I will be asking if it is the Oil and Gas law holding it up or what? But something is holding it up, obviously. Pimpy The WTO isn't going to let them in unless they change their exchange rate. That's false...They have many members in there with even worse currencies than the Iraqi dinar...Vietnam is one of the members and they've been in there since 1950...For every US dollar you get 23,540 Vietnam dong. To say they have to increase your exchange rate in order to be a member of the WTO is false. Clare Article: "After the end of its recess, the House of Representatives is preparing to pass 3 prominent laws" Quote: "Parliamentary committees intend, after the end of the legislative recess, to pass the Communications Law, the Investment Law, and the National Security Law, all of which serve the citizens."
-
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 We've all been waiting for the potential of Iraq's currency to get to the Forex...ATFX is a global leader in online trading. They celebrated...today's launch of its operations in Iraq...I think the Azure bank is going to be a market maker for part of this...They not only trade currency pairs but they do precious metals...energy...indices etc. Everything is coming to a head that they're going to be able to do Forex trading. They are openly talking about it. Frank26 [Iraq boots-on-the-ground report] FIREFLY: They are gong to be giving instructions on the budget all week prior to it going live after EID. FRANK: This is the monetary reform education at its highest point... MarkZ Lot of international stuff happening in Iraq- Which doesn’t make much sense for a country without an international currency. Article came out- “ATFX Launches operations in Iraq with Asure bank” They certainly act like they are international...It is clearly showing us where they are at and progress... Walkingstick ATFX, pretty good huh? This is not big. This is immensely huge...ATFX is an online exchange company that trades gold, silver, stocks, crypto, foreign currency, indices. This is impressive. Pimpy Article: "With its entry into force A high source rules out budget challenge" Even though the budget gets passed before it gets posted...members of parliament have an opportunity to challenge it but once it's posted in the gazette that's it. They expected some challenges but that did not happen. Clare Article: "ATFX Launches Operations In Iraq With Ashur Bank Partnership" Quote: "UK-based online trading and foreign exchange company ATFX has announced the start of operations in Iraq, in partnership with Iraq's Ashur Bank." Frank26 [Iraq boots-on-the-ground report]FIREFLY: The CBI says the ATFX has been launched Today in Iraq for the very first time. It's up and running. It's online and it's trading. It is a foreign currency exchange center. MarkZ Article quote from Guru Nader: “The federal general budget 2023 which is based on methods of financing the budget in Iraqi dinar in exchange for oil revenues in foreign currency mostly!!”. What they are screaming at you is “Dinar For Oil” program with the US …. This is how they will handle the revaluation...I went woohoo. *** Wednesday Midnight Opinions *** Frank26 [ Iraq boots-on-the-ground report] FIREFLY: Soon...the projects that are in the budget will start to be funded. FRANK: Not at a program rate! FIREFlY: And it's going to be retro to January 1st 2023. FRANK: And so will the new exchange rate be retroactive to January 1st. Mnt Goat Article: "GOVERNMENTAL ADVISER: INTERNATIONALLY APPROVED FINANCIAL INSTRUMENTS WILL HAVE THEIR CORRECT BIRTH IN IRAQ" Quote: "The financial advisor to the Prime Minister...confirmed that it will be a place for the activities of selling and trading governmental and private securities, similar to what exists in the world, pointing out that the importance of the financial center in Iraq announced by the Central Bank of Iraq." ...this is one of these WOW!!! news articles. Do you know what this means? This supports the FACT there is now no turning back. They must now liberate/reinstate the Iraqi dinar to FOREX and other global currency exchanges. Militia Man Iraq 's going to be just like Singapore ... London, Frankfurt, New York. Those are the things you don't get at 1310. Everybody out there who thinks it can work at 1310...They're not going live at 1310, 1186, 1470. They never have done it. Why? Because it doesn't work. Frank26 [Iraq boots-on-the-ground report] FIREFLY: The dollar is jumping just like they said it would happen during EID. It is jumping because of the need of the dollar during these 6 day of the holiday and we don't have any more auctions they are closed. So the demand for the dollar is up. They told us not to worry it will change back after the holidays...FRANK: For them to tell you the exchange rate of the dinar will climb after the budget is introduced that's not a clue that's the monetary education straight to you. Nader From The Mid East An article I read earlier about the exchange rate in Iraq. They published it today. They didn't put how much but the good news there is there is a new exchange rate. Anybody who hold the Iraqi dinar they're going to make a little money. I'd say must be between 13[00] and 1000. Get ready for it. Walkingstick The budget is odd. It's weird. It's a break in the pattern. We have a budget, we really should have a new exchange rate to make this budget make sense. So this is why I find it to be odd, weird, not normal for this budget to come out not making any sense because one of the first line items is the vote on a new exchange rate...
- 10 replies
-
- 8
-
-
-
-
- articles
- boots-on-ground
- (and 2 more)
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Article: "What is the central bank aiming at by merging exchange companies?" For introduction of the NSCN's and a new exchange rate internationally. Pimpy Article: "US dollar Exchange Rate Decreases Against Iraqi Dinar in Baghdad and Erbil" This is exactly the right direction you want to go. The US dollar to decrease against the Iraqi dinar. This rate here is the parallel rate - not the fixed rate. This is the parallel rate... "recorded an exchange rate of 1473 dinars against the US dollar." Jeff The majority of the investors in this investment have a theory and a conclusion that the implementation of the budget just magically changes the rate. The budget is an approved law. They approved the dinar at a value of 1300 per dollar inside that budget. Iraq has never magically changed...any aspect of a law...It's not gonna happen. There's no way an approved law can magically change the rate by snapping your fingers. Militia Man Article "British report: Iraq's economic growth has led to a dramatic improvement in the reality of cities" Those that seem to think Iraq is not going places has another thing coming. They are about to show case themselves to the world even more now than ever before. This article shows that the world is watching and acting on their assessment of Iraq's new found security and stability...The 2023-2024-2025 budget will jump start the next three years like we have never seen before. Again, those that seem to say this is a nothing burger are highly misguided and uneducated in the on goings with Iraq and the world's relationship with Iraq going forward. Goldilocks Iraq...and Vietnam have completed Article 4 with the IMF and are capable of moving forward with their currency reforms... We will see some movement in July with our currencies...
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Question: "With the new currency will we have a new rate?" Yeah. When the new currency comes out that they've been talking about it will definitely have a new exchange rate in order for it to work. It certainly can't work at a program rate can it. Pimpy Article: "With the EID approaching and the markets booming, the dollar is flying in the sky of Baghdad" If I can go out and get 1475 dinars for every dollar I would rather go to the black market and get more dinar. This way when I'm shopping for the holidays I could get more goods. It's better than going to the exchange rate and getting 1300 dinars for every dollar. That just makes sense. The more the US interferes in this the more demand there is for US dollars then the higher the exchange rate [for US dollars - this is bad for us] goes up. If I'm a trader or doing business in Iraq I'll take my US dollars to the black market and get more Iraqi dinars...pay off more debt, go shopping like these people are here... Clare Article: "Iraq reduces its holdings of US bonds to more than $6 billion " Quote: "Iraq's possession of US bonds in January amounted to 41.2 billion dollars, to decrease to 40.7 billion dollars in February, to decrease to 39.3 billion dollars in March, and to decline again in April to 34.8 billion dollars, indicating that Iraq's possession of US bonds is in The month of January 2022 amounted to 40.8 billion dollars. She pointed out that Iraq was the fourth largest Arab country in the largest possession of US bonds, after Saudi Arabia, the UAE and Kuwait." MarkZ ...the rate is not in the Budget or the Gazette…It was not expected to be. The budget was in the Gazette today…which was the first step...and in the budget is a mechanism that lets them change the rate. Rumors are that on Wednesday we are going to see something …. Lots of chatter things will be cranking up on Wednesday...like a value change for the dinar…crossing my fingers and hoping its right...I have heard from sources…some are looking at this Wednesday the 28th Some are looking at the 3rd. Either way it definitely appears to be close. We should all be excited that the budget was finally posted in the Gazette. Walkingstick and Frank26 IOO everything is going to be done all at once now that we have the budget. Once you crack open that piñata it's gonna give us everything - the new small category notes, the exchange rate, the ATMs, HCL, everything. It's illogical to break it up and give us this part now and another part a week from now and then the rest later. No. Everything, boom all at once. Militia Man If everybody's not stoked on this I'd be surprised because what we were seeing Iraq do in the last few days...is phenomenal. I think it's great. RVAlready The lower denoms will not be a holdup. They have been printed and ready for several years.
-
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Samson Article: "Government: The budget will be applied retroactively from January 1, 2023" Frank26 [Bluestar bank advice] I highly recommend ...when you go into the bank and you meet with the bank you want to get the cards of the folks who are the executive VPs...who are usually in a different area so when the exchange does occur you can build a team of folks that can help guide you through the process so you don't squared what you end up getting.