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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: Television says that from the CBI the United States of America reconstruction on Iraqi banks will be lifted soon. FRANK: That is a powerful statement...They're already lifted. It just has to be made official... Clare Article: "Al-Alaq reveals the Central Bank’s reserve... in dollars and gold" Quote: “The Central Bank has a foreign reserve of more than 100 billion dollars...We have gold reserves of more than 130 tons, most of which are located in England."
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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: The next meeting with the United States of America will be held in Baghdad the television is telling us. They're coming to us now... Clare Article: "CEO of JPMorgan Chase expresses Support for Iraq” Quote: "Prime Minister Mohammed Shia al-Sudani received Mr. Jamie Dimon, the CEO of JPMorgan Chase, and his accompanying delegation on Wednesday, during his visit to the Washington DC." Samson Article: "Al-Sudani: We have reached satisfactory solutions with the US Treasury to address the conditions of the sanctioned banks"
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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 Nader From The Mid East 'Everybody's like, hey Nader you're there for the announcement?' There's no announcement. There's not big screens...They're going to come out with a new exchange rate maybe a little smaller for now yes... You see they talking about changing the exchange rate again. Yeah, they're going to do it soon. We'll see what it is. It could be 1000. Remember we said 1000 and then they eliminate the three zeros... You're going to have to be patient. Frank26 Sudani returned back to Iraq because he wanted to make a speech, but it turns out that the time was passed on and it was through Alaq. But Alaq is in the United States of America, so how can he make a speech today? [Iraq boots-on-the-ground report] FIREFLY: We believe this is a prerecorded interview by Alaq...
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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 Al Sudani...first off he shows up to Washington DC, big motorcade, heads over to the Pentagon the following day, big motorcade, comes to Michigan, what did he have? Big motorcade. He has the attention... The achievements the statesman Al Sudani has shown everybody is flat-out phenomenal... See Article: (A Summary) Al-Sudani returns to Baghdad after concluding his official visit to America - 4/20/2024 Frank26 [Iraq boots-on-the-ground report] FIREFLY: I love this. [Hearing the report of Al-Sudani's Q and A about raising the level of the value of the Iraqi dinar...see 4-20-2024 multiple guru posts below] Did he really say this? We are so excited here. FRANK: You have your leader telling the world in Washington DC that they are about to add value to your currency for purchasing power? ...This is exactly what the monetary reform has been teaching you... Now your prime minister said it. As far as I'm concerned it's over and it's done. Just have to wait now. Mnt Goat Remember...the Oil and Gas law looms in the background and will surface again soon. Also after this visit to Washington I fully expect the announcement of Iraq’s full accession to the WTO to pop out shortly. Oh…it’s all so good!
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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: Television saying that Alaq the CBI governor is going to stay in Washington DC for a few extra days. They saying to us that he's following up on what Sudani was doing... FRANK: Now that Sudani is back he's going to start the process of explaining to you Iraqi citizens everything on how you are going to be receiving your lower notes, how you're going to use the ATM machines... accounts, maybe even the education on the coins that will be coming out eventually. You should be excited because I am! Militia Man Article: "Member of Sudanese delegation: We will witness a rapid decline of the dollar in the coming days" When they say the rapid decline of the dollar I don't believe for a moment they're saying the dollar is going to crash. What I believe they're saying is their expectation is the dinar is going to rise. Misdirection, IMHO..! RON Clare Article: "Vietnam central bank says it’s ready to intervene in forex market; Dong now at record low against dollar" Quote: "Intervention is possible even today, if needed, State Bank of Vietnam Deputy Governor Dao Minh Tu said at a briefing in Hanoi on Friday. The dong dropped to a record-low 25,463 per dollar on the day." Pimpy Article: "Parliament's finance advises raising exchange rates again. Money about oil revenues?" They are talking about changing the exchange rate to 1500 for every dollar. That's the wrong direction. We don't want that to happen... I know the news is frustrating but that's what they were talking about... It's the same thing they talked about in December. So don't be surprised. Let's hope it goes in the other direction. I believe this statement was meant to be clear MISDIRECTION. we've been told they would use misdirection before any significant value increase.RON Frank26 Like we told you IOO he [Al-Sudani] gave orders to have the screens put up. I don't know how long it's going to take for him to make this announcement to the Iraqi citizens but I just don't see it happening much longer...
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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: "Iraq ranks fourth as the best emerging market for investment in 2024” Militia Man Article "Al-Sudani receives Washington the Chairman of JP Morgan" Those that say JP Morgan don't know anything about it should read up. Pimpy Question:"So you're telling me we should sell our dinar because it's about to lose us a lot of money?" I'm saying we don't know what's going to happen. There's a possibility we can wake up tomorrow and it's 1 to 1 and they haven't deleted the zeros a lot of people are millionaires. There's a possibility we wake up tomorrow and they delete the zeros and we have to exchange it for the new currency and then they change it 1 to 1 and you're not a millionaire. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Some lady is on the television news saying once the delegation returns from the Untied States of American the budget amendment law will be sent to parliament. She's saying one of the issues is about salaries and this will end all issues on salaries for the first time ever once and for all... FRANK: She's correct. When Sudani comes back he will deal with the budget and you will have your new exchange rate because that's the only way that the salaries are going to be paid. They're telling you they're going to be paid for the first time ever. They have never been paid because of a lack of good exchange rate... Clare Article: "Al-Sudani stresses the necessity of dialogue with the US Treasury, the Federal Bank, and the International Monetary Fund" Quote: "Al-Sudani stressed that it is not possible to work in any development sector without reform steps for the banking sector, stressing the need to continue dialogue with the US Treasury, the US Federal Reserve, the International Monetary Fund, and other international financial institutions." MarkZ ...Sudani just landed a few hours ago back in Iraq after a very interesting tour in the US. He took questions during a Q&A and was asked about the revaluation of the dinar. He said specifically that yes that was under the auspices of the CBI but we are very much working on that direction. That is paraphrasing and not exact because of the translation. But that is phenomenal news imo. Militia Man [Q&A portion of Al-Sudani interview] Question: "Is the government thinking of revaluing the dinar and readjusting the value of the dinar due to the current circumstances in the market or do you see it to stay the same?" Al-Sudani's answer: "This policy is dictated by the central bank and the government abide by what the bank decides. I believe we are in the best status we could be in and we have actually had an assessment which has given much trust, higher trust at a higher level from different global parties...This is going to raise the level or value of the Iraqi dinar. There is policy that is consistent policy that the central bank is using..." [Post 1 of 2] (reposted) Militia Man MILITIA MAN: Deletion of the zeros project, is that what they're talking about? If you're going to raise the value of the currency you're going to have to do something to it and that's the exchange rate. You don't just LOP three zeros off a currency and say, 'Snip! Go use this'. It doesn't work that way. They have to raise the value... We know their reserves are $110 to $112 billion, they have gold, they have all the new electronic systems, taxes and tariffs...tourism, agriculture, liquid gas, all that stuff added into this is going to benefit them. Basically what is he saying? They're going to raise the level of the value of the Iraqi dinar. That's really powerful... Post 2 of 2]
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Militia Man [Executive] Order 13303...according to the US National Emergency law failure to renew the executive order within a period of 90 days from the date of previous renewal means it will become invalid. We're not even into May yet and that's when it was signed. There's still an additional 90 days tacked on to that last date...What we're seeing, I frankly don't care... It's a protection for Iraq's interests and the US's interests... All these years it's been in place. In my view a good thing because it's protection... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friend says...if it is 1 to 1 that's a good start but he feels like because what he personally knows the rate could carry a $5+ and support it very well because our reserves are way higher than what they are telling anyone. That's just his opinion... FRANK: It will not start at 5 to 1 IMO as it will not start at 1 to 1. Clare Article: "Al-Sudani receives in Washington the Chairman of JPMorgan" Deepwoodz Article: "Al-Sudani: Iraq is a country full of opportunities and its projects amount to 400 billion dollars" 400 billion x 1310 = 524 trillion dinar...ummmmm….i don’t think so. Budget ain’t that big! Unless you have a roundabout 3:1 rate the opposite direction.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV is showing new audit report showing Iraq as the best new investment for the year 2024. FRANK: I'm sorry... How in the world is this kind of statement even possible for you to make? You're at a program rate. Ain't no way in the world Iraq is the best investment for anybody in the year 2024 unless you're trying to tell us that you changed the exchange rate, which is what you're doing ever day to the whole world... Pimpy [In a LOP] The only thing that changes is the bank notes themselves... You're not changing the value of the currency. A 25,000 dinar is going to have value as a 25 dinar. They're just going to lop the zeros off. Debt is still going to be the same, your paycheck is still going to be the same. They only difference is when you go to cash your check, the dollars [dinars?] they give you back are going to look different if they lop off the zeros. He has his brain locked into a LOP, and no matter what other facts are out there, he just can't seem to see them. MarkZ ... the bond folks have expectations of things starting from between the 15th to the 22nd. And we were told from day one that bonds need to be close to completion or well underway before they pull the trigger… Hopefully we will know by tomorrow if bonds kick off - from European contacts... Clare Article: "His advisor: Sudanese attention will focus on the economy during his meeting with the American President” Quote: "Counselor Saleh believes that the economic aspect (investment, development, and financing) “will be activated for the first time in this broad form of the strategic framework agreement in order to be consistent with the data and principles of the program.” Militia Man Article: "Sudanese visit..Government advisor: The economy with America will be activated on a large scale for the first time" The red carpet is laid out for Iraq and the news we see is phenomenal ... That motorcade shows it. This is not a shun like we saw with Haider al-Abadi on the White House lawn.. A stark and profound difference today is and it is a good thing!
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report]' FIREFLY: Sudani...is meeting with Iraqi business owners in the United States of America ...They're talking about visits that will bring more stability. They're saying they are going to return the dinar to its price and how the dollar will drop dramatically and not be used in Iraq. A lot is being said about the strength of our currency of the dinar and the meeting is over 100 of these companies. Bruce ...a lot of the sources are very quiet...Typically, that means they're under new NDA’s.This is their catch-phrase meaning they don't know anything, and haven't heard anything. There are really no NDAs ...we know that we know that Iraq is doing some things in the US... I think they're really getting ready for this – to be known internationally - their reason for this session, my way of thinking the rate on the dinar has not been put out internationally yet for everyone to know what that is - but we know that rates are on the screens – all of them - They've been trading upwards, we know that the contract rate on the dinar is still very high and we know that the dong rate is also moving up in a good direction...
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 If you don't like what they [Chase Bank] have got, then go somewhere else... And when you go somewhere else you already studied the bank...vetted... looked at their portfolio...know their officers... know their structure...know how they're going to take care of your money... invest your money right? If you say no to any of those questions you're in trouble because the leeches and parasites... vultures sense you, once the sharks know that there's chum in the water, they're going to circle you. They're going to tear you apart. 'Hey, MC Hammer... You Can't Touch This. You can't touch my money Frank.' How much money do you have? $200 million...How much you have now? Nothing... [this] is the situation we will be facing very soon. You're going to be attacked... You don't like Chase, make sure you check out where you're going carefully... Militia Man We know Al-Sudani is gearing to come to the United States on or around the 15th. Today we see he's ready to spend about a week in the Untied States. His saying about a week in the United States is a big deal because that's a long time. He's bringing... senior representatives from the Central Bank of Iraq... They're going to be talking with the United States Treasury... Clare Article "Bankers excited to meet the Treasury Al-Sudani will stay in America for a week.. A source from Baghdad and another from Washington reveal the agenda" Quote "The Iraqi government source confirmed to the 964 network that Al-Sudani will hold meetings with businessmen, and will be accompanied by Iraqi bank officials...The Sudanese visit lasts a week and includes 3 American states." Samson Article ”Bankers excited to meet the Treasury Al-Sudani will stay in America for a week.. A source from Baghdad and another from Washington reveal the agenda" Pimpy My gut feeling is they're going to re-denominate and then change the exchange rate right after that to where it should be, somewhere around $3 and something cents per dinar. I've got 5 million. If it goes to $3 and something, I made $15,000. I'm a happy camper with that. It's better than not having anything. I understand for a lot of you you're like, 'No. No. NO. that's not good because that's not what I had in mind.' And I'm sorry but you're asking me my opinion. That is my opinion. They will re-denominate the currency, LOP off the zeros - your 25,000 dinar will become 25 and then they'll reinstate the old rate... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is talking about our international debt going from trillions to billions... FRANK: That is the definition of lifting the three zeros... It's that simple... Going from trillions to billions - how? 'We already told you, we're lifting the three zeros from our exchange rate.' Why? 'Because we're re-denominating our currency.' How? 'By bringing out lower notes and getting rid of the three zero notes...' Why? 'Because we suffered enough.'
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Iraq is right on track to do some great things.They're going to continue to do that. Let's get this coalition forces out of there plus the United States military, which is why I think Al-Sudani is coming over here to talk to the president to see about getting these people out of there and leaving Iraq on it's own devices. We'll see what happens from there... Clare Article: "Iraq 24 sources: Al-Sudani will meet a delegation from the Energy Companies Complex in Houston, which includes the largest oil, gas and alternative energy companies" Militia Man [Sudani] is going to need some exceptional strength, which is exchange rate oriented to do business deals with the likes of GE... big oil companies... big solar energy... They're looking to get people in the steel industry, rebar industry, cement companies because they're going to need more than Iraq has on the ground. They're going to want the support from around the world and Al-Sudani is stating he's ready for business and opening to the world. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani is visiting Washington, Michigan, and Texes while he's in the United States of America. FRANK: Understand the seriousness of this trip. It's not to go see some guy at the White House. It's to go lay out the groundwork for both of their reforms.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Sudani is walking on the yellow brick road to Washington DC. This is going to be historical trip... not just for Iraq, for both sides... the trip to Washington DC is crucial. Pimpy The more they get their sovereignty back, they're already on the Swift system, they're working their way through the World Trade Organization, it's just a matter of time before they remove all restrictions and we can start buying them [Iraqi dinars] (and exchanging them) through the banks again... Deepwoodz Sudani has a very long statement out today and there are no plans of America leaving... Furthermore, I have a feeling that although Sudani has the well being of his people in mind concerning the exchange rate, O’Biden has his eyes on the dinar in our treasury. It’s a win win. No horse trading needed. Militia Man Iraq has met the required security and stability in country that is needed to be productive and to perform her duties as a nation to her people in a correct and internationally acceptable manner. If she hadn't she wouldn't be where she is now, which is out from under the protection of EO 13303 outside the DFI. Iraq is still covered under EO13303 until mid May 2024, unless it is rescinded by Biden - let's not jump the gun with assumptions. Frank26 [Iraq boots-on-the-ground report] Firefly: They talked a long time about how the national cards we have will be used for all transactions in our country. FRANK: The national cards tell Iraqi citizens that their currency is about to have value, that it's about to go international. The International world would not want anything to do with the toilet paper valued currency. These are the hints. These are the telltale signs that they are are re-denominating and a new exchange rate is at your doorstep... Samson Article: "Al-Sudani to American companies: The current stability in Iraq is encouraging for you to engage in development projects"
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Militia Man There are so many indicators now that show Iraq is heading into the global stage and is setting the stage in many ways... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani say the meeting with Biden will put our reconstruction on a whole new basis. FRANK: The only reason the economic reform is going to be on a whole new basis...successful, is because the monetary reform was successful. Clare From X/Twitter: Iraqi Prime Minister's Office account: "Prime Minister, Mr. Muhammad Shiaa Al-Sudani, leaves the capital, Baghdad, heading to the United States of America, at the head of a government and parliamentary delegation and representatives of the private sector, at the beginning of an official visit at the invitation of US President Joseph Biden." MarkZ Community comment "Sudani looks to be coming to the US on the 15th..." I think it more likely to happen toward the tail end of the 22nd to see our new rate. But Iraqi contacts think Sudani is going to announce it in Iraq before he heads to the US on the 15th…. I hope they are right and I am wrong.
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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: Television is talking about Sudani's trip to Washington. They saying high security and military personnel will accompany him...It looks like we're going to go this time with a completely different exchange rate. FRANK: My hope and prayer is he will talk to you about your new exchange rate because it is time to do so. He has given you every hint... every scenario... every option of why you're about to have a new value to your currency, about why your currency will be more valuable than the American dollar...I am sitting... in great hope he will make an announcement that will add purchasing power to your currency and then go to Washington with that power representing him as the leader of Iraq, a free sovereign nation and not the loser of a program rate country with sanctions upon him. Pimpy The average dinar holder only holds 250,000 dinars... I wonder how Pimple knows this obscure detail - no proof its a fact
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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 On the one hand this [Closing Iraq's DFI in the United States] is a big step for Iraq. They now have control over their own funds and they can make their own decisions without asking for permission. On the downside we still have Maliki and the Coordinating Framework in charge of the government... This is a good thing though. It's a big step for Iraq. It's a big step in gaining their freedom 100%. Internationally it looks really good for Iraq as well...Untied States is saying, 'Look, we trust Iraq can deal with whatever comes at them...' Frank26 [Iraq boots-on-the-ground report] FIREFLY: Have not seen any of it on the news today about the lower notes that are going to be distributed in May... However there are a lot of rumors saying it was something out here today. We have not seen yet but we are looking... FRANK: There are many rumors about the monetary reform right now. Yes there seems to be a rumor about the lower notes...let's see what happens this coming week. Let's see how things start to unfold.
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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: Bank friend...there's still a need to collect 30% of the people with bank accounts...Half of our parliament owns banks. That's how they were stealing all the money until Sudani and Alaq have now cleaned that up...Citizens of Iraq are veering away from banks until a rate is available... MarkZ Vietnam news: “VN central bank drains more money from system” They have withdrawn more than $75 Trillion VND from the last 5 trading sessions. Guys, this is almost like they are preparing for an event and I am excited about that.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Fnu Lnu [Response to Pimpy's HCL non-revenue sharing post from 3-31-2024] The notion of revenue-sharing is nothing new in the Middle East. Bruni and Kuwait both do it...Revenue Watch Middle East Director Yahia Said recently returned from several months in Iraq working on the International Compact with the UN...This USIPeace Briefing summarizes the discussion. Many Iraqi citizens look to the law for what it can contribute to reconciliation, security, and welfare. The three parts of the agreement will deal with the issues of 1) revenue sharing; 2) restructuring of the ministry of oil; and 3) establishing the Iraqi National Oil Company (INOC). [Post 1 of 2]{Reposted} Fnu Lnu It is quite clear that the HCL has intentions to codify the issue of welfare (not for government) and the number 1 issue is REVENUE SHARING. To be more specific; Section 1314 of the FY2007 Supplemental Appropriations Act [P.L.110-28] specifically identified the enactment and implementation of legislation “to ensure the equitable distribution of hydrocarbon resources of the people of Iraq without regard to the sect or ethnicity of recipients” and “to ensure that the energy resources of Iraq benefit Sunni Arabs, Shia Arabs, Kurds, and other Iraqi citizens in an equitable manner” as benchmarks. [Post 2 of 2] Pimpy It really looks good for the future of Iraq. Outside of the corruption that's in the government. If they can stay on the path, Al-Sudani gets a clear path to continue, the future for Iraq's economy looks really good. They should see some economic boom as long as the coordinating framework and those political people that are in power can somehow get out of the way or removed from office altogether... Militia Man Q? : Why in the world would anybody want to invest into Iraq if they were going to put their money into Iraq and then they were going to lose? Because if you invest your money in Iraq and they LOP their currency you're not going to make any money, it's a neutral event. Walkingstick [Report from #1 - his Iraqi bank owner friend in Iraq and in our opinion] The HCL has been long done! ....Article 140 and the disputed territories, done! The redenomination at the onset, that rate is done! Awaiting nothing but the release and implementation of all of this. MarkZ Question: Since Sudani has to go to US on April 15th does that mean nothing will happen on the RV until then or after? Mark: Many believe he could be coming to the US after the RV for his “victory lap”. But not very likely. I'm afraid we'll need to wait till late Summer or Fall. Clare Article: "Al-Shammari reveals the most prominent files of Sudanese’s visit to Washington and the government’s ambition regarding the dollar" Quote: "Al-Sudani's visit to Washington will be practical and will not be for taking pictures...The Iraqi delegation will ask the American side about the reasons for their decisions to impose sanctions on Iraqi banks... Our expectations are that the visit will be very successful." Frank26 [Iraq boots-on-the-ground report] FIREFLY: Ramadan is over on the 8th. Then we have EID holiday from the 8th to the 14th and then on the 15th Sudani is supposed to go to Washington D.C...It's time to get a little excited...
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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: My bank guy says the only way they would stop funding the budget and stop everything is to make a rate change in the budget...the new rate will produce excess funds to cover the reform projects...He says when that budget gets done this weekend and if it is amended the rate change will come real close in his opinion... FRANK: I agree 100%...once we see the budget amended and released it will expose a new exchange rate. I don't think that a simple rate of 1 to 1 is what Sudani is looking for anymore. Mnt Goat ...it is very significant to collect...dollars stashed in the homes of the citizens. This is the next step. But they told us the CBI would not take this next big step, to collect all this cash, unless they first got the parallel market under control. Now they are telling us it is under control. ...But how will the CBI get all these hordes of cash out of the homes and into the banks? ...Yes, more purchasing power...But how do you get more purchasing power? You must increase the rate of the dinar and I firmly believe this will be next step, and this is coming soon, VERY soon! [Post 1 of 2] Mnt Goat But slow down cowboy, I did not yet say reinstatement...this is going to be first an in-country revaluation... We don’t actually know the next “program” rate revaluation from 1320, but we do know with certainly it must be over a dollar. How much over to give enough incentive to turn in the dollars, we don’t know. ... We are not going to exchange at this rate anyhow. Later, after the reinstatement, If you live in the U.S. you will get the U.S. rate, if in Canada you will get the Canadian rate or if you live in the EU you will get the European rate. I'm told it will be significantly higher than the initial in-country rate by the time we see it and go to the bank..[Post 2 of 2]
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Fnu Lnu New notes will be a necessity. However, they will be used in the domestic market primarily, as almost everything else will be done electronically. The IMF will not allow member country's to "walk away" from their currency. This new note / delete the zeros paradigm is not complicated. The hand wringing can stop now. Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV is say when Sudani goes to Washington. OMG that's a long time off. Means nothing changing until after that probably, if it does this year. FRANK: I don't care if it happens on the 15th of April. I don't care if it happens tomorrow. I just know it's happening with all that we're seeing. The proof is there. There's no doubt about it. Pimpy Once they re-denominate the old currency is no longer any good. You can exchange it for the new lower bank notes but your higher bank note doesn't have any extra or more purchasing power or more valuable than the new notes.
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Thursday Early Afternoon Opinions - 2:45 PM MDT - 3/28/2024
ronscarpa posted a topic in Dinar Rumors
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Question: Do we have the green light yet Mark? I think we have the green light. I am looking forward to what the next few days bring. Pimpy When they re-denominate all currencies are going to have a new look. Most likely what you're going to see is the same thing you see here in the United States. We have a $100... $50...$20... $10...$5... and $1 bill. Most likely that's what you're going to see in the dinars... Militia Man Article Quote: "Advisor to the Prime Minister al-Sudani...the global economic community estimates as a stock capital at prevailing price today, Iraq's worth about $16 to $17 trillion U.S. dollar" It's a lot...Instead of having people come in and mine it, take it away and produce and sell it, Iraq's going to mine it, produce it and sell it. They're going to get both sides of the equation...That raises the income stream for Iraq... Frank26 [Iraq boots-on-the-ground report] FIREFLY: The foreign minister already in USA is a prelude to Sudani grand stand that's coming April 1st, our new fiscal year. FRANK: So much is now pointing for your 1st quarter. April the 1st or maybe the first week of April especially with Sudani going to see the President of the United States in Washington DC on the 15th of April. It seems to me he's going to go see the president with a new exchange rate under his belt...not the weak leadership of a program rate.- 10 replies
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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: Talked to bank friend. He told me it seems to be the quiet time but soon news on the amending budget will appear...Nothing will get done, so it's going to be soon. The dropping of the zeros is off the exchange rate...We were told on TV that during next week the 2024 amended budget will arrive at parliament for their vote. FRANK: Stay very close to your friend because at any moment IMO I believe he'll be able to give you what you're looking for, what they promised you. Tishwash Article: "The decline of the dollar.. Parliamentary Finance says that the crisis is on its way to ending “finally" Quotes: "The Finance Committee in the Iraqi Parliament confirmed, today, Sunday (March 24, 2024), that the dollar exchange rates in the parallel market will continue to decline until the official price fixed by the Central Bank of Iraq is reached."; "... this crisis are on their way to being resolved once and for all."; "The visit of Prime Minister Muhammad Shia Al-Sudani to Washington is very important at the level of financial and economic files, and Al-Sudani is discussing with the American side strengthening and strengthening the Iraqi dinar" Frank26 [Iraq boots-on-the-ground report] FIREFLY: Tv talked about parliament finance has been meeting...with the CBI officials talking about mechanisms to pay the salaries and all the project we have. This is a good sign. They are meeting right before the budget goes to parliament next week. FRANK: Firefly knows if it does go to parliament and they vote, it will expose an exchange rate. Certainly not a program rate.
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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 Question "Are the Saddam dinars worthless?" Yeah, they're worthless because they're no longer recognized by anybody. Pimpy Think about it. The current Iraqi dinar of 25,000 dinar - they delete the zeros off, now becomes 25 dinar and then all of a sudden they change the exchange rate from where it is to $3.22 per dinar. This is good for the Iraqi people, their purchasing power has changed. They can get a lot more things bought with their money. But that doesn't help us because they lopped the zeros off...so instead of getting a $3.22 rate against a 25000, we're only going to get that $3.22 rate against a 25 dinar. Instead of getting millions you get thousands...At least be aware that that's possible. Kaperoni If Iraq is unable to achieve diversity they will have no alternative but to simply just delete the zeros (LOP) which is a neutral event reducing the currency from around 80 trillion to 80 billion dinar. Any exchange rate gain would be minimal as a result. Sandy Ingram There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want. However, there is a catch. If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection. This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"...What happens if you don't report more than 10 thousand dollars in cash? Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry. Walkingstick The closer it gets to the reinstatement the more they will tell the citizens concerning the monetary steps...There's nothing like facts being told to the citizens with confidence. Frank26 [Iraq boots-on-the-ground report] FIREFLY: When it floats it's going to go up really fast. The demand is going to be big on our currency...This thing may have the ability to reach $4.25...probably they will cap it out and go back to settle just a little ahead of Kuwait... FRANK: I believe Kuwait will allow that to happen as well...Sudani made them happy... MarkZ Sudani is expressing the need to freeze all electronic transfers….basically freezing all banking and currencies. This is exactly what they would have to do to start the exchange process. I am a firm believer they are doing that to prepare people that the banking system may be funky for a day or two while they flip that switch. There is so much going on. The chatter has gone through the roof in Iraq with Sudani and the Central Banks movements. If only 10% of the people are right – we are within sight of the finish line.
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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 Jeff Iraq technically does not need to amend the budget if they're not changing their rate. The budget already covers their operating expenses. But they would need surplus funds to cover the reforms. The reforms are contingent upon the rate changing. They can't bring these reform package forward if the rate does not change. The only reason they're amending the budget is because the rate is changing ...The step of amending the budget can happen either before or after the rate changes ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend... Militia Man If Al-Sudani says, the dinar hold on to it, it's going too be stronger than the dollar...$0.76 is not stronger than the dollar. Add the real effective exchange rate and you can easily get over a dollar... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friend says...Al-Sudani is making an announcement during Ramadan remember? He'll go to Washington DC but after he comes back I believe that this rate [1.32 dinar to $1.00} with the deletion of the zeros will coincide with the WTO. We are basically in a countdown. FRANK: ...The final countdown. Let's roll! I think when they finish with Washington DC and they come back, we may see what we're looking for. [Post 1 of 2] Frank26 Continued: I am crazy excited your prime minister Al-Sudani and the governor of the CBI Alaq and the board of directors are constantly telling you they're going to give you 1.32 dinars to $1 and a new exchange rate to match it with lower notes...It looks like the next two weeks will be very loud on the monetary reform education. Be ready to move quick. [Post 2 of 2] yada Be of good cheer folks, this is unfolding before our eyes...what we are are expecting is taking place...The articles last week regarding the 1.32 in Iraq was telling the people what to expect. The salaries, contracts, infrastructure are at a point the REER [Real Effective Exchange Rate] will activate it all...Today-tonight is very good for us. Pimpy Deleting of the zeros means a re-denomination. Article quote: "The Iraqi government is currently weighing the question of changing the currency..." CHANGING THE CURRENCY. It didn't say exchange rate. What it says is currency... Definition "Re-denomination is a government policy in simplifying currency values without changing the exchange rate." ...If we can get them to change the exchange rate without removing the zeros then we're sitting pretty...
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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: It's going to float once it gets to 1.32. FRANK: I disagree because it's already at 1.32. It will float IMO a little higher. The RI will take it to $3.22 IMO. But because it's been 20 years I strongly believe IMO they may cap it around $4.25...The other currencies around the Middle East will not complain if the Iraqi dinar is higher than their rate...Frank is out of his mind if he still thinks that the IQD will go that high. Times & circumstances have changed, but he still has his head where the sun doesn't shine. .... JMHO ....RON MarkZ I think the news is getting restricted as we get closer. I think the quiet is a positive sign. A number of sources were given cautionary notices to be quiet or NDA’s. So to me it’s a great sign that things are quiet...Contacts in Iraq and around the world still think we are within days…but they have thought that before….so not going to jump out of my skin just yet. The quiet is probably the thing that is the most encouraging to me right now.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Jeff One of the major things Iraq has to do before they can revalue the currency is they have to pause all of their money. They have to suspend it. Freeze it. As of Friday both the central bank and the government of Iraq paused and froze all their monies. What does that mean to us? ...By them suspending all of their monies between the central bank and the government that makes this [past] weekend...the first eligible weekend for Iraq to be able to revalue the currency... Militia Man Al-Sudani...talked about having the dinar be 1.32 dinars to the dollar...turns out to be around $0.76. That's a big bit of purchasing power for the citizens. Is it what they're going to end up with in the future based off all the natural resources that they...all the non-oil maximized income...tourism, all the extra stuff you never had when Saddam Hussein was in office? Saddam Hussein's $3.22 to 1 dinar was based off about $35 a barrel of oil. Oil is pushing $85 today...They have surplus money coming from all these different places... Frank26 [Iraq boots-on-the-ground report] FIREFLY: The funding for all of 2024, last Wednesday was suspended...and it was changed ...They must be using the new exchange rate. They said they changed it and then sent it to the Council of Ministers for the review. Then it is to be sent to the House for a vote...It should be going for a vote any time. We think it's going to move to 1.32 making it $0.76 which is not more than the dollar like Sudani promised, until they add the new exchange rate to it. That's what we're expecting. MarkZ ...I've been told absolutely clear that it does not matter, circulated or uncirculated, to participate and that makes sense...