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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Walkingstick [Aki Iraqi bank manager friend in U.S update] I have just been given my latest orders. I am being told to stay close to home. I will not be able to go to Thanksgiving...Christmas with my friends. My orders tell me that I am to stay here in Dearborn. The CBI bank is going to make us very busy during these holidays. We are having a lot of Iraqi citizens coming into our banks here...They...are talking to us about the same thing you are asking us. They found out they're going to get their HCL. They found out about the cards. They want to know how they're going to get their retirement money outside of Iraq. They also what to know if they will also be able to receive the new lower notes. Militia Man A new [financial] system that is fast and effect - digitally. Hopefully they're talking about they're going to have to have an exchange rate to do that. A Real Effective Exchange Rate gets them across borders. From here on out a different playing field, a digital playing field. I think that's where we are. I think it's really powerful information. Clare Article: "Al-Sudani sends a message to the US President: We are on the verge of a dangerous slide" Quote: "Iraqi Prime Minister Mohammed Shia al-Sudani said in a letter addressed to US President Joe Biden and the European Union countries, on Sunday, that the region is on the verge of a dangerous slide that could drag it and the world into ongoing wars." Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is talking about what will happen once the currency auctions are stopped. They are talking about Iraq has a process to develop the infrastructure, this will protect us and give more security and stability to our currency through the CBI. FRANK: This is all part of the monetary reform education to you. When they stop those auctions it will completely freeze Iran from stealing and the corruption, and will open the door wide open for a new exchange rate and your lower notes. MarkZ Article “Al Rafidain: More the 4 Trillion dinars electronic collection amounts for government departments" this is a marked improvement to the government; a big increase in revenue from getting rid of graft and inefficiency by using electronic systems. They are very much streamlining their government. This has made a massive difference in stability in Iraq.
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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: We seeing in TV a special report show saying what if 1000 dinars became 1 dinar. They talking about deleting the zeros again. They've been showing this all day. They just repeat it over and over again. And they're saying it's all tied to the reforms. They talk about all the good and some of the bad...We never seen them talk like this before. FRANK: These are the commercials we talked to you about that were going to be educating you on the purchasing power...They are telling you they lifted 3 zeros from the exchange rate in order for that 1,000 note to become a 1 note...They are not lifting the 3 zeros from your physical cash.
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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 Everybody should be going, 'come on Iraq! Come on World Bank! Come on Bank of International Settlements, IMF, US Treasury, US Federal Reserve!' All those players have been involved and they still are. They are not going to have a 1310 exchange rate. They're going to move to a Real Effective Exchange Rate based on fundamentals based off their non-oil products, non-oil revenues that will exceed in may cases oil output. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr. Sammy told me a real rate international for us in his opinion is just north of $4.00. FRANK: Didn't we say that it would be somewhere between $3.86 up to $4.25? Of course it's only an opinion by Mr. Sammy and me but we both know Mr. Sammy's information has always been spot on. You are so close. Pimpy Article: "The International Coalition officially announces the end of its mission in Iraq within 12 months" It must be that time of the year. Every year they say the same thing, within 12 months. Clare Article: "The government-owned Rafidain Bank announced on Friday that it has collected more than four trillion dinars electronically for the benefit of 700 government departments... the total amounts that were settled and collected for the benefit of those government departments and deposited in their accounts at Rafidain Bank amounted to more than four trillion dinars."
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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 Samson Article: ”One of the most prominent dollar speculators was arrested in Ramadi" Newshound Guru Militia Man The market economy is coming together, the World Bank is addressing Iraq is moving toward a market economy. That means at some point, could be any day, any time, they're going to have to go into the international world.. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank guy Mr. Sammy still thinks maybe by the end of the year...but he's hoping November now. FRANK: My position has not changed...We feel this will be done this year...The evidence, action, mechanism that is needed for the new exchange rate and the lower notes to be introduced will all occur this year... Mnt Goat ...the dinar is not going to change in value IN THE COUNTRY OF IRAQ as a result of the project to delete the zeros. No one in Iraq is going to get rich off this swap out. So when we exchange, OUTSIDE of Iraq, we exchange our dinar we will get the rate of exchange for our OWN COUNTRY according to the exchange rate. The banks are going to be VERY strict on this.
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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: Mr Sammy...from what he's gathering and hearing in the rumor mill the currency swap out will be in November...But it's not official. He's not speaking for the bank. But what he's hearing, he's thinking this is pretty good. Mnt Goat Prime Minister Mohammed Shia al-Sudani confirmed from New York that the currency sale window will close at the end of this year, while revealing the government’s intention to establish a new bank that adopts the latest technologies. WOW! WOW! We have been waiting for this for decades. Now it Is reality. Finally!! Yada Article: "- The Central Bank of Iraq launched its financial transfers to Turkey in the euro currency." This means the business with Turkey, primarily the pipeline that was halted in March of 23 due to illegal usage is now opening back up with transfers in Euros. Add this to the Iraqis receiving their salaries from Jan 24 to Aug 24, we are in for great celebration with the rate release. IMO
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ [via PDK] There is some good stuff out of Iraq today. Article: “Parliamentary conquest reveals an agreement to pass two controversial laws today” this is very important news. This is the personal status law and the Return of real estate to its owners covered by some decisions of the dissolved revolutionary command council law. These are settlements for other things that we were told we would see right before they do the dinar change in value. For me this is huge. To me this shows us how close we are. Frank26 [Iraq boots-on-the-ground report] FIREFLY: On the news Alaq came in and talked again about the deletion of the three zeros and he said we have a process to enhance the dinar. He was explaining how they are going delete the three zeros and add value...Then this idiot comes on TV and he says to us dropping the zeros will not lead to a value increase. He's just a fool that hates this is happening. That's all Alaq talked about, again saying it's under constant review. FRANK: As far as the guy that comes out and says this is not good, that's it's negative; this is not being sent to you by Sudani. Don't pay attention to them. Only pay attention to your true leader Sudani. Mnt Goat Prime Minister Mohammed Shia al-Sudani expressed, on Thursday, Iraq’s readiness to enter into a partnership with American companies in the oil industry sector, revealing at the same time his government’s intention to establish a new Iraqi bank. This came during his participation in New York...can the news get any better? Finally the US is engaging Iraq and seriously taking on partnerships, especially in the energy sector. So we know if the US is invested in Iraq something is up.
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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: "Can you please share some details about why you stated that those in California will have to know what they are doing [when the time comes to exchange]?" Because you got a bad government there. They go with policies that are illogical let alone indecent. Yeah, California taxes are going to be insane. Militia Man If you do the math on it, if you drop the three zeros from the exchange rate of the nominal value of the currency. If the exchange rate is $1 divided by 1310 gets you .0007643 or real close, which is far less than a penny. If you drop the three zeros off the exchange rate you've done a big service. You've created value to that currency because if you drop three zeros from the exchange rate that is .76 ...They can then add the Real Effective Exchange Rate based off the non-oil revenue streams... Samson Article: ”International Finance: The Central Bank of Iraq is a model for developing strategies that serve the development of the banking sector" Walkingstick Question: "Are the new [Iraqi bank cards] based on the new exchange rate?" Yes. Jeff Article: "Iraq presents to the US Treasury date for abandoning the currency auctions" The auctions will end or be abandoned the day the rate changes. The rate will change on a Sunday morning. That's when the currency auctions will end, when the rate changes. This article's saying the currency auctions will end by year end. They're talking to US officials...They're just making a generalized statement, saying by year end...So by the end of December...the currency auctions will end meaning the rate would have to change allowing the auctions to end... Frank26 [Iraq boots-on-the-ground report] FIREFLY: There's a lot of good information coming out soon but won't be nothing about the rate yet. Mr. Sammy [Iraqi bank manager friend] still thinks it will be right after the end of the year when they stop the auctions. Pimpy Unfortunately it is everywhere. Protests are happening in Jordan, Turkey, Iraq...For those of us invested in the Iraqi dinar we're definitely paying attention to what's going on over there in Iraq because it could have an effect on the Iraqi dinar if we can't get things calmed down. We'll keep an eye on it and see what happens... Militia Man Alaq says we're going to enhance the confidence in the dinar. Remember what Sudani said. He warned the citizens twice at least, to be careful with your dinar. Don't get rid of it. It's going to be stronger. Openly, the two big guys, Iraq prime minister and Iraq Central Bank governor has told the citizens we're going to bring value. Sandy Ingram Tensions are soaring in Iraq following the reported death of Hezbollah leader Hassan Nasrallah...Thousands of angry Iraqi demonstrators converged on the US embassy in Baghdad, where they attempted to storm the compound, clashing with security forces armed in riot gear...Their fury has added to the growing unrest in Baghdad, where the situation has become increasingly volatile. In response to the escalating crisis, security measures have been significantly ramped up in the city's fortified Green Zone, but protests continue to intensify as anger spreads. The situation remains fluid with heightened fears of further violence. Frank26 They say that they wanted this monetary reform to be done at the beginning of the year, remember? Unfortunately no, they weren't ready. But they sure are ready now. Mnt Goat Article: “CENTRAL BANK GOVERNOR ANNOUNCES SUCCESS OF DIGITAL TRANSFORMATION PLAN IN IRAQ” ...the CBI has told us just recently that Electronic Banking is an important step in the currency reform and banking process. WOW! WOW! WOW! I do not think he is saying final success only that there is good success so far; we were told the goal is about 80% of the working citizens. Quote: “it clearly indicates the success of the digital transformation and electronic payment plan, and the percentage rose from 20 percent a few years ago to 48.5 percent” MarkZ Article: “KDP Mortgage census to apply article 140 to return displaced Kurds” This is really big and one of the things we were expecting...
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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 Quote: "Mazhar Mohammed Saleh, economic affairs advisor to Prime Minister Mohammed Shia al-Sudani, described the banking system in Iraq as rentier par excellence...noting that this requires a comprehensive reform process... Saleh stressed that this requires a comprehensive reform process to create market institutions, indicating that this enables the banking market to be integrated with the international financial and banking system and become attractive to global banks on a large scale." Kaperoni This is a good quote from that Article "The expected path of the Iraqi economy" Quote: "The most important indicator, in my opinion, is that despite all the attempts to put obstacles in the way of economic development, intentionally or unintentionally, the government is moving forward with its program, leaving all attempts at obstruction in its wake, and this is one of the secrets of success and the key to hope." Frank26 [Iraq boots-on-the-ground report] FIREFLY: The census is now...November 20th and the 21st. We will have a curfew during those days. Militia Man Article: "Minister of Transport announces the establishment of the Joint Maritime Authority between Iraq and Britain" ...Massive amounts of trade is coming to the ports of Iraq. I suspect Al-Sudani and his teams are fully aware of the priorities needed to make it all happen.
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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: There are TV commercials advertising that the Kuwait dinar is at $3.58. They are talking about our new border agreement with Kuwait. The fact they bring up this rate tells me they want to talk about our new rate against it. FRANK: They are talking to you about Kuwait because they need an example to show you what is about to happen to your currency, your purchasing power, to show you what is going to happen to your exchange rate. There will be a change coming.
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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: We have heard for the last five days all on the news about the deletion of the three zeros. That's all they talk to us about. FRANK: You say you've been hearing about lifting the three zeros in the last five days? In all honesty you have been hearing this for the last five months. It's just that it's very concentrated on a daily basis now... Mnt Goat ...my CBI contact told us the committee was planning to begin the roll out of the currency swap out in November. You will not see the US Treasury leave the CBI until this is done and the Project to Delete the Zeros (swap out) is completed.
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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 You can see the excitement of what's going on is no longer a secret and it's being advertised and published and talked about and bragged about all over the world from New York, the United States Treasury, all the way back to Iraq. The whole Middle East is on pins and needles. They all know. They're excited and they know it's going to affect them as well too... Samson Article: "Treasury praises growth of non-oil economy in Iraq" MarkZ Article: “The goal of the census is developmental, economic and Kirkuk second in completing the numbering and inventory process” So they are doing a full census in November to figure out which money goes where. I do believe this occurs right after the HCL is wrapped up and the government can then distribute the new funds. I was told to look for a census, and now we are finally getting it. Clare Article: "A specialist details the negatives and positives of removing zeros from the Iraqi currency" Quote: "Al-Mawsumi said...The process of removing zeros from the currency means replacing a new currency with the old currency with the aim of simplifying the accounting process between consumers, and it is often resorted to by countries that suffer from high inflation and have become unable to deal with paper currencies of very weak value. Deleting zeros is an imaginary change in the value of the currency and does not change its purchasing power." Militia Man Article: "US support for Iraq’s reform steps.. Non-oil GDP indicators rise and exceed twice the population growth rate" They are clearly hammering the concept of Iraq's ability to reform her banking and financial sectors among the many other sectors, namely the non-oil sectors. They have had a significant focus on the 6% growth rate in revenues... There is also a focus on the international financial connectivity...Thus, with the focus they have on these topics we can see that they mean business... Jeff Iraq can only change the rate at one or two points in the year, beginning or the middle of the year. That was stated by Shabibi. If Iraq was going to revalue at any of those times you would see them increase their steps and actions preparing to revalue. In this month of September those steps has occurred. They have increased their actions getting critical steps...laws done. They have tremendously ramped up. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Successful meeting today with the United States Treasury with Sudani. It looks like the sanctions will be all off. FRANK: They're reporting to the Iraqi citizens what they're accomplishing at the United Nations with the US Treasury, but this stuff is old. It's ancient history. What you are seeing is nothing more but formalities. I am excited to see Sudani return back and talk to you Iraqi citizens.
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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 Samson Article: "The Central Bank of Iraq is required by the Federal Reserve to stop the platform, liquidate banks and merge others" Clare Article: "Al-Sudani concludes his visit to New York by meeting Guterres, who praised the discussions to end UNAMI’s work in Iraq" Frank26 [Iraq boots-on-the-ground report] FIREFLY: We see articles on the news, reporters saying the imminent change to our currency is coming. Then he talked about deleting the zeros and the good that this would do and the bad. Then said our dinar would be stronger than the Jordan dinar.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Samson Article: "Prime Minister discusses with US Secretary of State ending international coalition presence in Iraq" Militia Man We had three articles the other day and now we have another one out today. Article: "Removing zeros from the Iraqi dinar is back in the spotlight: Strengthening the currency or just changing its form?" Quote: "...Remove the zero...is done by removing specific number of zeros from the nominal value of the currency." They didn't say from the currency bills themselves. They're talking about the nominal value. For all you folks out there that have been talking about a lop, please just read and see...What is the value of your currency? Today it's .00076. If you take off 3 zeros what do you have? .76 Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr. Sammy [bank friend] expects by the end of this year or early '25 we will see what we're looking for, but he agrees with you it could happen at any time in the next three months of this year. FRANK: Mr. Sammy and I are on the same page. The only difference is he's truing the pages a little slower than I am. I do not see this going into next year. Fnu Lnu I would like to assure the Dinar investor community of a couple of things. There comes a time when common sense and logic must prevail. There will be NO travel necessary to exchange your Dinar for American dollars (USD). You will not have to go to Jordan, Egypt, or Syria. There will be NO $0.10 revaluation. It was already at the rate of $3.22 to 1 Dinar when the only resource was oil. Dr. Shabibi, the preeminent expert, stated publicly, that Iraq could sustain an $16 to 1 Dinar rate but lets not get greedy. $4.80 is just about right. Stay tuned because I will have a mind bender coming for you next time and it will really make you think. Jeff We had five of these articles talking about deleting the zeros, and then one today, so six total within 3 days. Very amazing. Removing zeros is getting rid of the large 3-zero notes and replacing them with smaller size currency notes but at an increased value. So when the rate changes the large notes have the same purchase power before the rate change as the smaller notes after the rate changes. They would have to increase the value for the currency, strengthen it, to delete the zeros. This news is looking really 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: Today the television here in Baghdad again is also talking about deleting the zero project just like the Kurds televisions yesterday. They're saying it is back in the spotlight. They're talking about the banking road map by Alaq. Mnt Goat ...we have been told many times that the Project to Delete the Zeros is not just a common project to redenominate but for Iraq it is also a steppingstone as part of the process to the reinstatement. This is the reason why I am so captivated on what just happened these last few days. We witnessed another onslaught of articles about the Project to Delete the Zeros once again; the news media reports what is going on in Iraq so someone, something must have reignited the spark for the Project to Delete the Zeros. Yes, it was the CBI and when the CBI talks, I listen - the CBI sets monetary policy.
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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 shows USA Treasury personnel and they're saying to us that Iraq is very close to competing their money transfers to electronic to offset money laundering. FRANK: To see it coming from the US Treasury is good...You ain't close dude! Horse shoes and grenades are close. This is pinpoint laser accurate. It is done! It is being announced. Clare Article: "Prime Minister: We are working to support investments that aim to diversify the economy away from oil" Kaperoni Community Comment "If Trump gets elected and the US digs baby digs. Oil price will drop like a rock. Then Iraq will be back to 'Austerity Measures' again." One can hope. Iraq needs motivation. Jeff They need to step away from oil. That's a World Trade requirement. They need additional forms of revenue streams to join the World Trade. They can't have just oil as a revenue stream. That's why they really have to roll out taxation and implement.
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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 Luigi1 (Our Very Own) Iraq is in a very good position right now, This is what Iraq & Dinarians were waiting for. Nations & corporations are lining up to get a piece of the pie. There's opportunities for those that get in early on the ground floor...IMHO MarkZ Article: “Iraq reviews the US Treasury the date of abandoning the currency auction” this is so important. I was told Oct 1st - no more foreign currency auctions. This is the one thing I was told to look for – When they are done with foreign currency auctions they would revalue. And this news just came out [Tuesday] that they are ending them. Frank26 [Iraq boots-on-the-ground report] FIREFLY: The television is running that report again along with commercials in this report about how we are reviewing the deletion of the zeros. It's on the news. It's been on the news all day. The same report over and over again. FRANK: Because that is exactly what they are about to do. Samson Article: "Iraq Plans Currency Redenomination Amid Economic Challenge" Militia Man Quote: "The process of removing the zeros from a currency means replacing the old currency with a new one in order to simplify the accounting process between consumers. It is often resorted to by countries that suffer from high inflation and have become unable to deal with paper currencies of very low value." Iraq doesn't have high inflation so it's not a lop. We've been over that time and time again. Jeff September has been the most active month and it's been the most informative with news, actions, everything. September has been their busiest month preparing for this rate change throughout this entire year. That's not coincidental. They're preparing for the rate change. And they're preparing to go international. MarkZ Article: ..."Treasury supports CBI of Iraq” I think this is important. The US Treasury is supporting the Central Bank of Iraq. Why is this important? Over the last few weeks articles states Iraq has full control of its money …and now the US Treasury is saying the CBI is doing a great job…Troops are getting moved out…and they are openly talking about their project to delete the zeros. Imo opinions things are warm and fuzzy in Iraq even if we do not know the timing yet. Pimpy Kuwait is not the same damn thing that's happening in Iraq. Iraq's money is inflated. Kuwait never had to inflate their dinars. They never had large bank notes like Iraq does. They never had to change them in for lower denominations. None of hat **** is true. Outside of the fact that they increased the value for the Kuwait dinar, nothing else matches...All Kuwait had to do was re-denominate their currency without deleting zeros. They just changed the way Kuwait dinar looked. That was it. Iraq's case is a little bit different...they added 3 zeros. They're talking about deletion of the zeros... Frank26 [Iraq boots-on-the-ground report] FIREFLY: On our television we're now seeing Kurdistan news on our television. We are seeing the Kurdish news is now talking about Iraq is planning on a currency redenomination. They're saying Iraq is going to delete the three zeros and this will bring value to the currency of Iraq and it will facilitate financial transactions. FRANK: ...Does it get any better than that?! ...Re-denomination means they will replace the 3-zero note with lower notes because the new exchange rate will only work with the new lower notes they're about to give you. Samson Article: "US Treasury: Iraq's non-oil economy grew by 6%"
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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: Mr Sammy says they are way ahead of what they are telling us but they can't tell you everything. It's all for safety of our country, markets, speculators. FRANK: There are many things happening right now that are extremely good for our investment. It may seem like it's so far away but it's actually right in front of us. It's not a mirage and you are already touching it. Mnt Goat Here is the process of the reinstatement: Institute the reforms the “Pillars of Financial Reform” – Banking, Insurance, Stock Market; Get rid of the parallel market and demand for the dollar through the black market; Realize the Central Bank “official” rate of the dinar and overcome the dollar crisis.; Be able to raise the “official” rate of the dinar against to dollar to a sustainable, realistic rate that reflects the true economy of Iraq (just over a dollar in-country); Conduct the Project to Delete the Zeros: decrease the monetary mass by collecting these large three zero notes,stashes/hoards of dinars and dollars. Swap out the currency; Watch/monitor for inflationary pressures on the process; Reinstate the IQD back to the global currency exchanges ie. FOREX. Not just a placeholder on FOREX pointing to ISX but the ability of tradable buy and sell options.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq on TV now. He says even with the low oil prices we are stable and inflation in our county is low because we have strong reserves and we have non-oil revenues efficient enough now to also contribute...Then he talked again that the oil price drops have nothing to do with a high exchange rate. FRANK: He's trying to reassure you that the American dollar is not coming back in any shape or form into your country...Your currency is the future and its new exchange rate has been a success. That's why you're about to explode with your economic reforms... Mtn Goat Article Quote: “Iraqi banks have the qualifications to switch to the electronic system, noting that “the transformation of the financial sector to the electronic system with credit cards will pave the way for attracting international investments and increasing confidence in the Iraqi economy.” I have to say it is all just about implementing the Electronic Payment and Inclusion of the banks into this new process...the CBI and the Finance Committee...are committed now to complete this effort, and I believe they are way beyond our expectations of just where they currently stand in this effort...In short summary, is this not what we all want to happen so they can pull the trigger on this revaluation and reinstatement.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Samson Article: "No restrictions on our balances in America".. Al-Alaq: The number of bank cards has increased to 19.75 million cards" Frank26 [Iraq boots-on-the-ground report] FIREFLY: The crooks are also talking on TV. Every time a commercial comes out...They're saying changing the rate will be a disaster. FRANK: The crooks are Iran/parliament...The only reason they're saying this is because they know very well the rate is about to change. It's no secret. Sudani is preparing the whole Middle East and all his people for the change this year. Militia Man Purchasing power is deserved by this country. They have assets that are phenomenal. The non-oil revenues, gold reserves, foreign reserves, and other sources of income through taxes and tariffs etc is going to be phenomenal. Jeff Supplemental budget...that's all we're waiting on. Right now the actual budget for operating expenses is done. It will need to be amended though because it doesn't have the supplementary portion of it to fund the 5-year development plan and 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 [Iraq boots-on-the-ground report] FIREFLY: On November the 20th to the 21st we have a curfew for the very first census in the last 27 years. FRANK: ...It looks like Sudani ordered for this new census to occur for your HCL benefits as Iraqi citizens. It seems to me the only reason he's doing it now is because you have a new exchange rate that they can work with. If not...there wouldn't be a new census...as they determine the fair amount everyone is supposed to get. This new census IMO screens that there is a new exchange rate... Mnt Goat ...they are now telling us they can see light at the end of the proverbial tunnel. No, they do not directly tell us this but you can read into the articles and understand the tone...
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "The judiciary and the State Council confirm that the Governor of the Central Bank of Iraq is subject to the legal retirement age (documents)" Quote: "The two councils confirmed in documents...that the legal age for retirement is 60 years, and upon reaching it, the duties of the official assigned to it end." Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani comes out and he mentions that we are in the completion phase of the HCL. We know the HCL needs a rate. Sudani said the payments would be through the electronic cards, not cash. We think that's because cash would give us 1310 but through the cards we think it's going to be with a new rate. FRANK: I do not know this for a fact but I agree with you totally that your cards they are based on a new exchange rate. It makes no sense for them to be based on a restricted program rate... MarkZ What have we gotten this week? We have movement in the HCL, salaries are suddenly being agreed on, which imo - they could not agree on without knowing the new rates, we have them telling us the money laundering issue with Iran are taken care of, and the comment about 10 days ago from Sudani that they plan on lifting the value of the dinar during his term which is in the next couple of months. So buckle up and try not to lose faith.
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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 Question: "What does Iraq need to do right now to reinstate their old rate of $3.22?" Professor Boskin [of economics] graciously shared the following information which I am pleased to relay to you. It should be able to give you an idea of how far away this thing might be. The first thing he's talking about is implementing monetary reforms. PIMPY: We've been hearing about that for years so we know they definitely are implementing monetary reforms. PROFESSOR: ...The Central Bank of Iraq may consider removing zeros. PIMPY: Obviously if they're going to remove the zeros off the currency, they're going to re-denominate and print new bank notes. PROFESSOR: Establish a currency basket system, the value of the dinar would be determined against a weighted average of several currencies. [Post 1 of 2] Pimpy PROFESSOR Continued: Reduce their dependency on the dollar. PIMPY: At the beginning of this year they were not supposed to use the US dollar anymore. PROFESSOR: ...Focus on diversifying its economy beyond oil dependency. PIMPY: Right now...only 89% of [the budget] is dependent on oil sales. A lot better than where it was. PROFESSOR: Improve trade balance, Enhancing exports, Reducing unnecessary imports, thereby supporting a stronger dinar. PIMPY: They have things to trade but not a whole lot of options. PROFESSOR: Maintain internal stability. Monitor inflation rates. PIMPY: Right now Iraq is somewhere around 5%. He's saying if they want to reinstate the $3.22 rate these things have to be taken care of. I do find it interesting we've been listening to them talk about deleting the zeros and he's put that in here. A lot of this stuff Iraq has already started. Kudos to Al-Sudani. [Post 2 of 2] Frank26 [Iraq boots-on-the-ground report] FIREFLY: Saleh on television saying we will have more digital banks in Iraq than the entire surrounding region of the Middle East. They're saying the new banking reform will eliminate the black market. FRANK: BOOM! There it is. There it is. There it is. Militia Man The digital transformation is here and it's only going to grow and grow and grow in totality...When they're going from a cash economy to a digitized cashless economy, is going to have what? Article VIII compliant currency on an international global Forex market. That's what we should expect at any time...
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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 Electronic payments...you can get this feeling it's showtime because they're really doing the development of the reality of financial inclusion. They're spreading that financial culture around the country...It's coming, the growth stage. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq is on TV and he's singing like a bird with information. He's talking to us an awful lot every day about what they're going to do with this reform. He gives speech about how much money is in the digital system already. It's growing. He said at the end of this year we will implement the initial plan to complete the reforms for the banking system. FRANK: The digital information is one of the main key parts of the monetary reform. It will allow your money to float freely not only inside of your country but outside. You are going to be internationally recognized. This is extremely exciting. MarkZ Article: “A parliamentary delegation to visit the Kurdistan region next week on the salaries of employees” This article came out before the weekend… so it’s this week. This is one of the hiccups that is keeping HCL from passing. So they are in the Kurdish region supposedly working on this, and what is supposedly one of the last hiccups with passing publically the HCL. Maybe? Finally? If we get the HCL we should get a new value on the dinar. Mnt Goat Article: “ECONOMIC RENAISSANCE AND UNPRECEDENTED PROGRESS.. IRAQ MAXIMIZES ITS NON-OIL REVENUES AND REDUCES ITS DEBTS”. They are telling us the national debt is only 9% of their reserves now at $108 billion and GDP growth is very good... words like “unprecedented” and “maximizes”...tells me our choo choo train is moving down the tracks at an accelerated pace 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 Walkingstick Aki was sent over there 3 months ago to Michigan to take care of one of the CBI satellite banks. He's still sitting there. You know why? Because he's waiting for his next orders to open up that bank. That tells me this is very close to popping at any moment. If not they would not have sent Aki to sit there and wait all these months. They would have sent him more towards the end of this year...To refresh your memory Aki will run one of the banks for the CBI in Dearborn Michigan representing the CBI...The CBI will have many of their private banks around the world collecting the 3 zero notes. Pimpy All kinds of changes happening over in Iraq. People have been bombarding me with questions. Let's go over this because this is something I mentioned earlier and then again I'm the bad guy. It's something you should be aware of that it might happen...Take a look at the price of Brent Crude - $74 a barrel. What is the budget set by Iraq for the cost? $70. They're okay but it has dipped slightly below there. It's back up above $71 which is good but man, that particular cost per barrel IMO I thought was too high and I expressed my opinion back when they first did it. What does that mean for Iraq? If they don't have enough money to cover the budget, they're going to have no choice but to, yep, I'm going to say it, just like I warned you, devalue the Iraqi dinar. Fnu Lnu [Reference Guru Bruce 9-14-2024 post] PLEASE understand, all contracts were closed in 2011 and there will not be any "contract rate" offered to you unless you were invited to join with a contract buyer, pre-2011. Remember "THE RULE OF ONE PRICE". It is against the law to offer different prices for the same financial instrument. NOT HAPPENING! Militia Man They're talking about Iraq as going global and to the international financial system. With that has responsibility and that responsibility will be defended by the central bank. That responsibility is to have a stable exchange rate and to provide commerce throughout the country in and out and across borders, with efficiency and transparency. That's what they're going to have and that's what they're doing. There's looking to be no stopping it. It's brilliant. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy [Iraqi bank manager friend] says we are in charge of our own money. It's not being overseen by the US Treasury. FRANK: This is the most powerful thing I can share with you tonight...IMO when Alaq came back he told everybody there's no more sanctions on the banks of Iraq...That means your program rate does not exist anymore. FIREFLY: Mr Sammy says they are running the new system. This new system will remain for the rest of the year. This monetary reform education phase we're in right now will last for this whole year. FRANK: Mr. Sammy and I are on the same page. The only difference is he's turning the page a little slower than I am. I do not see this going into next year. Actually it's impossible. I see the monetary reform education, commercials, US Treasury revealing to you all sanctions have been release, which tells me we are extremely close. Mr Sammy tells you it's coming at the end of the year or beginning, I tell you it's now. Mnt Goat ... there are not any of the newer lower denominations out in circulation in Iraq if the newer lower denominations were already in circulation. Without the revaluation of the dinar at least inside Iraq, the economy would crash because the money would be totally worthless ...How could anyone...buy anything with the newer lower denominations dinar notes without first a revaluation? It would take truck loads of money just to buy groceries the CBI would have formally announced the Project to Delete the Zeros as this is the ONLY way the lower denominations can come out. There will be NO SECRET when they come out. The project to delete the zeros has NOT yet begun. Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV had the crooks on saying changing the exchange rates will lead to deep corruption and smuggling. They are trying everything to stop this. FRANK: Yes, they're crooks...They are so angry there's no more auctions. There's no more ability for them to steal what they have been stealing from you...You have great leadership with Sudani...They cant's steal anymore, isn't it fantastic?
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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's speech he was talking to us about how to enhance a currency. They're talking about stabilizing the currency. Sandy Ingram It is widely believed Iraq will need to increase the value of its currency in order to fully take advantage of the international transportation hub [Development Road Project] it is building. Fnu Lnu [Response to Guru Pimpy's 9-10-2024 Article "The parallel market will be overturned." PIMPY: When they say raise the dollar exchange rate, that's not good for us. That means the dollar is rising up against the dinar...] FNU LNU: The solution is so basic and simple it defies this hand wringing. Why is it such a mystery? The way you control the "parallel market" is to raise the damned official rate such that there is no profit margin to be had. I will maintain that this is a red herring and some sort of stall tactic. Pimpy They have to do something about that parallel market. The reason why it's so successful is because people prefer to get the US dollars if they can. If businesses and travelers want to get more bang for their buck, they don't have a problem with selling the US dollars for more Iraqi dinars, more than the official exchange rate. It puts Iraq in a pickle. Do they raise the rate of the Iraqi dinar or do they lower it? Clare Article: "Iraq's financial revenues exceed 77 trillion dinars in 7 months of 2024" Quote: "The Ministry of Finance revealed on Tuesday that the size of Iraqi revenues in the federal budget during 7 months exceeded 77 trillion dinars, confirming that the oil contribution to the budget remains around 89%."
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