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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 Last year we sent many of you to banks and you came back with the same story, 'They said it's a scam.' Towards the end of December, 'Some of them are telling us it's not a scam and they talk to us.' ...January more and more banks are saying, 'We know. We just don't know when.' That's why I believe that bringing you a bank story with the bank information can be helpful. Clare Article: "Netherlands: About 60 thousand Iraqis live in our country and we are waiting for the Sudanese to visit" Quote: "Dutch Foreign Minister Hanke Bruins-Sloot announced on Tuesday that about 60,000 people from the Iraqi community live in her country, while she confirmed that Amsterdam is awaiting an upcoming visit by Prime Minister Muhammad Shiaa Al-Sudani."
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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 Guru Clare Article: 'Approaching official'... Sudanese advisor reveals steps to reduce exchange rates in the parallel market" Quote: "He stressed that "there is a clear trend and encouraging beginnings in which the parallel market has begun to approach the official exchange market" MarkZ ARTICLE: “Vietnam pushes the Us to grant them market economy status” This could lead to the increase of the value of the Vietnamese dong. The US state dept has called upon Vietnam to raise the value of their currency.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Article: "8 Iraqi banks banned from participating in the window of buying and selling foreign currency" Eight banks were banned from the currency auctions...My guess is they got caught taking money over to Iran. That's usually what happens. Henig Reuters Article "Iraq bans 8 local banks from US dollar transactions" Quote: "Iraq has banned eight local commercial banks from engaging in U.S. dollar transactions, taking action to reduce fraud, money laundering and other illegal uses of U.S. currency days after a visit by a top U.S. Treasury official." Samson Article: ”Document... banning 8 Iraqi banks from participating in the foreign currency buying and selling window" MarkZ A lot of news coming out of Iraq this weekend. A lot of it about Iraq’s economic prowess. They are now ranked the 7th central bank in buying metals. Think about that. They are not in the G7 or the G20…but they are the 7th largest purchaser of gold bullion. This is amazing. They also point out that their oil revenues are now surpassing Saudi Arabia in exports to the US. There are a number of articles pointing out how financially secure is Iraq. To me this is a precursor to a change of value in their currency. Frank26 IMO this week they're giving the government of Iraq everything needed to fund the budget. The Central Bank of Iraq has finished with all its meeting... with all of its meeting with all of the people that are part of the monetary reform. All of the contracts are also in position, waiting for this to happen as well. Pimpy I'm sure by now you've heard already the United States is striking more targets...What we don't want to see is things escalating. There was an emergency meeting called to figure out what it is Iraq wants to do or needs to do. What we hope is their decision is not to enter into a conflict with the United States.
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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 ...News coming out of Iraq: Article: “Contract signed for new residential city near Baghdad” Will include more than 100,000 units. They are busy working on housing for their people. This is a large scale project worth big bucks…. How are they going to pay for it??? Walkingstick [Iraqi Bank Friend Aki update] Aki's orders for the month of January 1st to 31st were to establish all the electronic stuff for the monetary reform, to send the IQD internationally either via 1. a basket in a float 2. Stock Exchange. 3. Global supply and demand. Aki's role is strictly in three phases as well and he is ready. 1. Collect the IQDs for destruction by the CBI. 2. Exchange 3-zero notes into American currency. 3. He will not issue lower denoms. It is mathematically impossible... Militia Man Article: "Postponing Electronic Application for Housing Funds" They told us they were going to build hundreds of thousands of homes. They were going to have loans ready for them but they decided to postpone it. Quote "...until new mechanisms for getting loans is approved...' What's that about? You were going to open up for loans for hundreds of thousands of housing units but you posted it for a 'mechanism'. What's their definition of mechanism? They don't say but we have to think - Writing up a mortgage at 1310 exchange rate and that changing the next day creates a problem...They need to know how much.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 The month of January...was a month...to implement...restore...complete, the monetary mechanism that's being used to add value to the Iraqi dinar. That's what I sincerely felt January was about. Militia Man We all know the progress is amazing ... Article Quote: "Central Bank Governor says, we prevented banks and companies from obtaining the dollar and the work on the electronic platform will end during the current year." He didn't say at the end of the year. He said it's going to end during the currency year...The electronic platform is where you get the dollar that goes to the parallel market which is smuggled out of the country... He's going to cease that. Could that come any time? That very well could come at any time because tomorrow is during the current year...I believe Alaq is on a mission. Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. All the things that Aki [Iraqi bank friend] had to do in order to qualify to exchange the 3-zero notes into American dollars is done. International platforms that were needed in order to do electronic transfers is done... Sandy Ingram Reuters Article:"Iraq's Kataib Hezbollah says it suspends attacks on US forces" -"Iran-aligned Iraqi armed group Kataib Hezbollah announced on Tuesday the suspension of all its military operations against U.S. troops in the region, in a decision aimed at preventing 'embarrassment' of the Iraqi government, the group said."
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Mnt Goat ...the hot topic in the CBI, as my contact told me...is that the CBI is working towards getting the parallel black market rate in check with the “official” CBI rate of the dinar. I asked my contact why the past plan to end this crisis has not yet ended it? I was told it is taking more than expected for the measures underway to take hold, but that they will eventually end the crisis and the rate will come down. [Post 1 of 2] MarkZ Article: “Urgent- The foreign ministry announces the success of the Iraqi-American negotiations on the presence of coalition forces in the country” This has really been some kind of week over there. Years ago Trump told us the troops would leave when Iraq gets revalued and we get paid.
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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 Iraq is again discussing the change in dinar value openly. This makes more than 4 articles etc…in the last week. They are expecting a major change in the valuation of their currency soon. Also still talking about pegging to a basket of middle eastern currencies in order to compete with the US dollar. Also in the news there seems to be big happenings in the Iraqi currency auctions. Bringing in much more dinar. They are making all the moves we expect to see just before a revaluation. They are telling us it is coming… it is very clear how close we are. Clare Article "Parliamentary Finance Committee: A surplus of more than 10 trillion in the 2023 budget” Quote "The total revenues of the Iraqi state, as of November 2023, amounted to more than 121 trillion dinars, while expenditures amounted to more than 110 trillion dinars, which means there is a surplus of more than 10 trillion dinars, according to the Iraqi Ministry of Finance. Frank26 For any Iraqi that lives outside of Iraq they will take advantage and exchange their 3-zero notes for American dollars. The monetary reform is getting louder and louder everyday and very direct. There is no confusion. There's no need to wonder when it's going to happen because they're telling you it's happening. IMO the lower denoms, new exchange rate and the float in the basket is the next phase of your monetary reform...Prime Minister Sudani is bragging about it 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 Frank26 Article "The International Monetary Fund welcomes Iraq's accession to a program that supports economic reforms" All I could say was Holy cow! That's huge. The IMF, remember who they are. They are the one who give Iraq/CBI permission to raise or lower the value of their currency, to print or to destroy currency. Everything they do in their banking structure is governed by the IMF...This is the announcement by the IMF that Iraq is international.
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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 Wolverine Iraqi Prime Minister Al Sudani and the Governor of the Central Bank of Iraq Al Allaq would both be attending the World Economic Forum in Davos Switzerland for the annual meeting January 14th to 19th. “Everyone is expecting the RV on Sun. 14 Jan” according to Sudani... The IMF, which is in charge of timing, said, “Anytime Friday to Sunday.” When & where did the IMF say that..? - And, if said, it is probably for next weekend...LOL ... Everything is ready to go. There is nothing more to do, we just have to sit back and wait for the Green Light. Well, it's the 14th and nothing has happened, and the CBI had another Auction today. Militia Man The Central Bank of Iraq...they're not going to be doing all the banking...JP Morgan Chase, CitiBank...those are the the banks that are going to be doing the correspondent work with the trade, cross border payments...That's what we've been waiting on. That's what happening. It looks like the international institutions have the green light. Looks like it's a pretty phenomenal time frame for 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 Pimpy IMO they'll go up in increments. One of the things Iraq needs to really start working on is non oil revenue...A lot of [construction] projects started in 2023, a huge chunk of them start in 2024. The deadlines are between the end of this year stretching out all the way to 2028 with the bulk of them having a deadline of 2025. This is a lot of job opportunities. This is a lot of infrastructure being done. This is a huge change in Iraq. All of this strengthens their economy and...strengthen the use of the Iraq dinar...This is not small by any stretch of the imagination...When Sudani said 2024 was going to be the time Iraq was going to change, this is what he's talking about. This is huge...This is what I'm focused on. There are hundreds and hundreds and hundreds of projects starting in Iraq... Frank26 [Iraq boots-on-the-ground report] FIREFLY: House of Representatives is talking today about what is needed in the final steps of the WTO. We are part of it now. They've told us this. Iraq can perform global trades. They're talking about this how it's needed for our monetary reform.. Militia Man Article: "The International Monetary Fund welcomes Iraq's accession to a program that supports economic reforms" Quote: "Thursday...the International Monetary Fund welcomed Iraq’s accession to a non-financing program to support economic reforms" After decades of involvement...the specificity of many things are likely to be known by the IMF, exchange rate regimes be sure. For Iraq to be moving forward with all reforms ...in that there is no financing needed should be eye opening for everyone. How does non-financing work with the IQD at 1,310 IQD to 1 USD for to pay for projects and commodities? It has not ever while with an IQD exchange rate of $.0006 or even $.0007 to the dollar. So why would it be any different now? It clearly wouldn't. MarkZ Article: “Iraq won the position of Director General of the Arab World Institute in Paris” This means they are on the world stage. What is going to be necessary for this? Full membership in the WTO and a new rate. That would make sense. Yesterday was a great news day from Iraq where they are openly talking about changing their value and a rate competing with the US dollar. Clare Article: "Al-Sudani concludes his visit to Switzerland and returns to Baghdad" Quote: "meetings were also held on its sidelines, which are the following: ■ Meeting with French President Emmanuel Macron ■ President of the Swiss Confederation, Viola Amherd ■ Secretary-General of the United Nations, António Guterres ■ Secretary General of the North Atlantic Treaty Organization (NATO) ■ US National Security Advisor ■ President of the World Bank Group ■ Director General of the International Monetary Fund ■ President of the European Commission ■ President of the European Bank for Reconstruction and Development (EBRD) ■ Saudi Ministers of Trade and Investment ■ International Finance Corporation (IFC). ■ regional CEO of JPMorgan ■ Secretary-General of the Organization for Digital Cooperation ■ President of HKN Energy Oil Company ■ 57 international companies specialized in oil, energy, and other economic fields ■ Interview with Bloomberg website ■ Interview with the Wall Street Journal..
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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 Tishwash Article: "Iraq returns to the World Trade Organization 14 years after its expulsion" Quotes: "Iraq is taking steps to return as a strong economic player by opening relations with Arab countries and all countries of the world..."; "...we accomplished in one year the equivalent of more than 15 years’ work..." Frank26 I don't think they're waiting for much of anything right now. They're moving fast. They're moving quickly in every aspect of the monetary reform. The next step is to show the lower denoms...new exchange rate and to allow it to float on an international platform...These are not subjects we are proposing to you, these are subjects that are in the articles themselves... Militia Man There's some very significant, big, big players exposed to this. We all know JP Morgan, CitiBank and others are 100% involved...See the picture of the Vice President of JP Morgan Chase doing deals with Iraq...You walk into the bank at Chase and your average guy doesn't know what we know, because what we know is - we study and we have the data to support and the articles that are public that present that information.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Mnt Goat ... We can clearly see that Iraq is moving to the normalization of how to do business with other countries and moving out of the sanctioned way of doing business with the world. They are already doing INTERNATIONAL. It is happening right now...Folks, I can not emphasize enough just how good all this news is today. WOW, WOW WOW!
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Iraq is still taking the steps necessary to stabilize their economy, stabilize their currency, give value and strength to the Iraqi dinar. Militia Man They're talking about reducing Iraq's dependence on oil. Dependence on oil is going to go away because they have non oil related products...services...and sectors. That's going to be from the taxes and tariffs at the borders, imports, exports, natural resources. They're going to have other than just oil. They're going to have other circumstances...They're talking about 350 million ton of sulfur...They're trying to achieve sustainability for the private sector... MarkZ The big news is the article and report...from the IMF...where they quite literally say that Iraq has a fantastic year ahead and much of that is due because of the passing of the exchange rate revaluation. The IMF released an actual bulletin discussing how well their meetings went with Iraqi officials…they talk about all the things Iraq did right and what the world is going to be…they even mention that part of what will make their economy so successful in 2024 is the exchange rate revaluation...I asked an Iraqi contact in government/finance his thoughts about if the revaluation they mention was the one in Feb where the dinar went from 1562 to about 1300 dinar per one dollar. …He said NO this is not what they are referencing. …so this is exiting straight from the IMF itself. Now we just need to cross the finish line. Nader From The Mid East When we told you new currency coming out, it is. When we told you the rate will change, it is. Now, it depends how it's going to go. If they continue to attack the embassy and continue the bull **** over there it can slow down things. But here's my expectation, I can be wrong, I can be right, my expectation the 1st of January will be no more [dollar]. Couple days later, a week later, new currency will come out. And maybe 2 or 3 days later a rate will come up...That's what I think. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank guy said the dinar inside our country has steadily being established with stability...Because of these efforts the dollar is dropping every day this whole week. It had a major decline...the dollar will continue to drop. Start the new year with no dollar actions allowed anywhere. FRANK:...I believe somewhere around the first they have no choice but to give you value...
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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 Article Quote: "...Iraq today is at the highest level of foreign receivers in the financial history..." They've made changes to the issue of dealing with foreign currency. We all know what they have been doing...currency swaps. They've been populating corresponding banks with currency. They didn't say if it's triple zero notes or if it's small category notes but they said they've been populating countries with foreign currency. I think it's pretty exciting. Samson Article: "Advisor to the Prime Minister: Iraq today has the highest levels of foreign reserves in its financial history" Frank26 On the 1st of January, you citizens of Iraq will no longer be able to use any foreign currency...Nothing except their currency. Their currency is worthless. Obviously they are cleaning the floor of the CBI from terrorism, counterfeiting, those in parliament that think they were going to take everything over again like Iran was planning but didn't work. This monetary reform education right now is extremely successful. MarkZ ... an Article from the local news over there...says they have defeated the “parallel market” or the black market for currency. Why is this important? We were told this would be the next step before they released the new rate. So there is great expectation. They continue to tell the Iraqi people to watch for changes in the dinar values at stores and market places. Sandy Ingram Article: "Iraqi council elections: Almost 17 million voters head to polls on Monday" Iraqis have begun voting for the first time in a decade to select new provincial council members who in turn will appoint governors...results are expected to be announced on Tuesday. Jeff Today on Monday Iraq is holding their elections. What does this mean to us? According to Iraq's Central Bank removing corruption is the absolute minimum requirement for Iraq to be eligible to revalue their currency...These are the provincial level elections. It's the second half of the government. They already completed and held all their federal elections in October of last year...These elections are critical to the country to move it forward...
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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 They have a paragraph in the laws that may need an amendment. It has to deal with the average production cost per barrel [of oil]...it's used to be $8 but now it's $21...When they change the value of the currency it's going to need to be adjusted according for a fair valuation for how much money is it going to cost to get it out of the ground. That's going to be relevant to what's the dinar worth because we're not going to be using the dollar, we're going to be using the dinar... Guru Clare Article: "Chairman of the Board of Commissioners: The electoral process is proceeding smoothly, and the voting machines will stop at six in the evening" Babysmom ...IRAQI CITIZENS WILL BE VOTING TODAY AND TOMORROW.
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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 Comment: I saw where the World Bank basically acknowledged the imminent revaluation of the IQD. Mark: ...I did a deep dive this afternoon and reached out to boots on the ground over there and Well-Holy crap its confirmed. I guess they said to back off of Iraq as everything is settled and will soon be importing in a massive way. I am very tickled to find out this is accurate... I have verified that there was a slip of the tongue on Iraqi television about the dinar revaluing. But stay calm…it has not occurred yet. We do not know the timing. It could be a day or a week…but, this is absolutely huge. Frank26 Question/comment: "I recall you saying you're thinking about doing your exchange process at your home or attorney office." Yes I definitely plan to do my exchange more than likely in my own home. If a bank wants my dinars they are going to have to prove to me they want to take care of me and my dinars...They will not charge me anything to exchange it. How rude would that be? ...My attorney will come to my house. The bank will come to my house. They will collect my dinars we will sign papers, whatever, I have my account, paperwork. It's not that difficult. Militia Man Bilateral trade...Multilateral trade, Multilateral banking - all of these things show Iraq is going international...I believe I'm going to be 100% right. The evidence is clear as day. MarkZ A Member Story: Former US congressman at a function in North Carolina this past weekend…They point blank asked the politician about some of the banking changes and if he owned any foreign currencies and was he familiar with the revaluation? The former congressman said absolutely. I have some. I bought the currency and it is absolutely real...when asked by our community member (who I have great respect for) he said (when asked about the dinar) I have some and we are expecting it. This is somebody with a high level of knowledge from the inside. Kaperoni They...have to have the dinar stabilized within the country and within the 2% rule mandated by the IMF in order to then accept IMF article VIII and begin to float the dinar which would raise its value based on supply and demand. All of these processes and or steps required time. As I mentioned before, considering the unique circumstances, Iranian influence with moneychangers, Iraq's banking changes, and Iraq's considering joining BRICS - It's very likely that the IMF may consider waving the 2% because of extraordinary circumstances, and to their benefit. JMHO....RON Breitling Community Comment: "Obviously Iraq wants and is expanding their markets. The currency swaps with all these other countries are something new...Why now? Why would a country wish to participate with Iraq in a currency swap? For a currency worth 1/10th of a penny unless you saw the future of the dinar?" Bingo. Not just the future of the dinar, it's the future of the market that's inside of Iraq. The reason you're seeing the tempo of the currency swaps inside of Iraq is because they're pulling all the currencies out that are competing with the local currency, which is Iraqi dinar. From the local markets they're trying to pull every currency out - Euro, Dollar, it doesn't matter. They're pulling it all out. You can only use the Iraqi dinar. This is very very good news for us that this is happening... MarkZ (From Rod Steele) Article: “The IMF was the hold up with some things taking a bit longer than expected. Yesterday they predicted a completion and release in Iraq. I guess we will see shortly.“
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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 A lot of the sites that study the Iraqi dinar they are on the same page that we are on now. We're at that point where it's a venturi effect. Everything is being squeezed into a narrow little opening and it's creating a lot of pressure, which is good. It's positive pressure. Pimpy All those gurus out there making the claim that because of the amount of oil they have, 'Oh, my God, they're going to be reinstated. The Iraqi dinar is going be extremely valuable. Pimpy doesn't know what he's talking about.' What did I say? I say, stay grounded. That's not true. Not true at all. There are other hurdles Iraq has to go through in order for the exchange rate to increase in value. I said this a million times, Iraq relies too much on oil to fund their government so it's not going to go up just because they got tons of oil. Militia Man Article: "The story of the Faili Kurds with the Central Bank of Iraq" This story is looking to be what they need to do. That is to educate the citizens. The recent talk shows that it is what is to be expected going on. The citizens will need to have confidence. Their confidence will build and will come more quickly with the realization of having purchasing power. Samson Article: "Iraq is looking to eliminate the dollar and buy imported goods in local currency" Walkingstick [Iraqi Bank friend Aki report] [lower note tests] are happening now. Where? North [Perhaps Kurdistan] ...He said it's happening right now. In fact he says it's been happening...for about a week...We're looking for any rumors or scuttlebutt in the markets. Look everywhere. We're looking for 6 currencies - 1, 5, 10, 20, 50 and 100. Do we have colors for them? Yes, yellow, green, blue, tan, orange and light red. And coins...they're going to come out with coins too. Frank26 There's going to be a meeting with the CBI and the US Treasury in Dubai. All you got to do is figure it out. The first [meeting in Washington] was for what? The American dollar. So you go to the US Treasury. This one is important for what? The Iraqi dinar. So you go to a place like Dubai. Would you go anywhere else? ...It is exciting times. It's amazing what's going on. MarkZ From Iraq: Article: “The dinar will recover: Iraq nears imminent end of dollar crisis before end of 2023” We all know only one thing that will cure the dollar crisis …and that’s a new higher dinar value. They are telling us this is coming…. Clare Article: "The dinar will recover.. Iraq is approaching an “imminent end” to the dollar crisis before the end of 2023” Quote: “The government and the central bank are working to end the dollar crisis once and for all, and there is great progress in this file and there is control over the market, as well as a gradual decline in exchange rates in the parallel market..." Pimpy I've heard people talk negatively about the Iraqi dinar several times...What you find out is a lot of these professionals, their reason for why the Iraq dinar will never revalue are not real reasons. Those are reasons why Iraqi dinar has not revalued YET. I've never heard a so-called professional come out and give a 100% reason why it's never ever going to happen... Militia Man Article: "Electronic Payment raises the value of the dinar" Quote: "electronic payments will in all circumstances restrict all local cash payments and currencies other than the dinar." The 'other than the dinar' part is really cool because all dollars and everything inside the country internally are not going to be used. You're going to have to use the dinar, not the dollar...yen or anything else... Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV saying CBI has come a long ways in battling the dollar and the battle is about to come to end. FRANK: Yeah, darn right! The theme, mantra, ambrosia in the taste of Iraq's monetary reform is repeating the same thing over and over, It's about to come to an end. What? The dollar. Which means our currency is going to blossom.
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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 To say it's never going to happen, is false. It can happen. But is it going to happen because they pass the three-year budget and they need the exchange rate to increase in order to do all the things they wanted to do? No. Is it going to increase because a hydro-carbon law has been singed...? No. Is it going to increase because it's impossible for them to get into the World Trade Organization with the current exchange rate that they have? No...Stay grounded. Let's watch how Iraq progresses. It's not going to happen overnight... Militia Man There's things happening as we speak - one thing after another. I can't imagine anybody being discouraged at this time because of the nature of what's happening. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television saying private banks and exchange companies are expressing the preparation in reducing the exchange rate. FRANK: Oooo, snap! Samson Article: "The Ministry of Transport intends to open direct airlines towards Australia, America and Malaysia" Sandy Ingram Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..[Post 1 of 2] Sandy Ingram The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution. He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023...There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents..[Post 2 of 2] Clare Article: "Central Bank Governor: Washington responds to all that Iraq needs in terms of dollars and a meeting with it next month" Quote: "Al-Alaq said in a press interview that “the Iraqi Central Bank will hold a meeting with the US Treasury and the Federal Reserve early next month in Dubai, noting that “radical steps will be taken within the framework of reorganizing trade on the right foundations,” noting that the electronic platform will be completed early next year.” Pimpy If you are being forced to rely on the US dollar that strengthens the US dollar. Think supply and demand. If the US keeps going around forcing these countries to have a dual currency and to take the US dollar, people will rather have the US dollars. They believe those dollars to be stronger but as people start to de-dollarize and get away from using the US dollars and start using their currencies that strengthens their currency and weakens the US dollar... Militia Man Article: "Ministry of Transport intends to open direct airlines towards Australia, America, Malaysia" It's not just about a few regional countries. It's about many different places. Once you start opening up the airports all the investors can gain access to the country to take charge of their investment, produce their businesses. It's a really big thing to have an international airport full...they have their capacity...what they're using today is at 100% and they're not even international yet...
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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 The Chatter in Iraq is extremely awesome right now... I am hearing today that they are educating folks and spreading lower denominations ...brand new lower denominations. They are more prominent in the Kurdish region now is what I heard. A number of ministers have said that the ”parallel market” will be fixed in the coming days. How are they going to fix that? A revaluation. Kaperoni A significant increase in the value of the dinar at or equal to its face value with 90 trillion dinar in circulation would, in essence, be six times the value of the entire countries wealth...This is why I have stated numerous times that if and when the dinar ever was to go up in value, it would have to go up gradually over time so that the dinar money supply could be reduced. But that only could occur if Iraq's economy began to significantly prosper. Clare Article: "Central Bank: There is no scarcity of dinar stocks and the monetary supply exceeds 100 trillion" Quote: “the size of the monetary mass or the exported currency amounts to more than 100 trillion dinars, 70 percent of which is in circulation.” Frank26 JP Morgan Chase is now actively involved with the Iraqi dinar. They may doubt it half the time but the other half they guide you. The Chief Executive Office of Chase Mr. Diamond released a document last month saying his bank is now supporting the Iraqi dinar 100% and he's building Chase Banks in Iraq. The employees of Chase do not know what's going on in order to protect the corporation that will soon be exchanging the Iraqi dinar in America... MarkZ There is so much happening…..Its shaking out to be an interesting few days. Article: “Iraq Financial Delegation heads to Ankara to discuss trade with Turkey” this is more Iraq coming on the International scene. They continue to function as if they are already a member of the World Trade Organization. They are busy making regional alliances. Militia Man The banks now have liquidity with all the currency swaps that we've seen that are completed...We've got all the meetings with all the different countries on currency swap. These currency swaps are phenomenal because...they're going to be clearing the Iraqi dinar with Article VIII compliant currencies... Nader From The Mid East Great news this morning...They start them leaving the country to discuss the exchange rates between countries. They're going to start with Turkey... Article "Delegation will head to Ankara Turkey tomorrow Monday to discuss regulating trade exchange between Iraq and Turkey" Pimpy There was a content creator who absolutely misinterpreted an article we need to clarify the mistakes that were made so people don't panic... Article "We are not thinking of returning the dollar to its previous price and the problem began under Saddam - Central Bank" When they say return it to the precious price, for some reason the individual thought that meant returning to the $3.22 rate. That's not what they're talking about. Nowhere in the article does it say the $3.22 rate. It just says return it to its previous price...that might mean the one before this one. That would be 1450 dinar. (or 1170) He's talking about they're not going to devalue the Iraq dinar. MarkZ In Iraq: Article: “Change of business dealings- Iraq replaced dollar with currencies to stabilize the dinar.” In other words “De-Dollarization” They want to be totally dollar free by Jan. 1st. All part of creating a basket of currencies that will help support the dinar. Something to measure against other than the dollar...
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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 Article: "The highest among the Gulf countries.. The Arab Monetary Fund expects the Iraqi economy to grow by 4.5%" There is likely no doubt that Iraq is about to have massive growth going forward. To be the highest just now among all middle eastern countries is going to be a big deal. I suspect the ISX is going to be on fire this next year even more so than ever before..
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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 ...A new exchange rate...will likely be coming quickly now. The salaries will need it, the budget spending for projects will need it, getting into the international global financial system will require it. Frank26 Our time is coming to an end in my strong opinion. I'm excited about the fact that 2024 is around the corner. Pimpy There's people out there making the claim that if you all put your dinars together then you can get a better rate. That's not true. You're not gonna get a better rate. There's a rate for everybody. There is no 'getting together'. And they're sending their serial numbers on their dinars to these people. What you don't understand is these people are counterfeiting the dinars and they're using your serial numbers. Don't be sending your serial numbers into people. Don't fall for any of that crap. Walkingstick It's all about the accounting in order to make the exchange rate easier to transition for the accounting. It's all about...the numbers...once they are done with the accounting, once the rate is at 1000 to 1 stand by. Frank26 Article: "The dollar in Iraq.. Baghdad is planning “permanent solutions” with Washington, and Parliament describes the dialogues as “successful”. THE SOLUTION IS NOT A PROGRAM RATE! Militia Man Article: "The dollar exchange rates are subject to the forces of supply and demand in the market" By adding other currencies from around the world they're going do diminish the need for the dollar and therefore it's basically going to go away...these guys are not playing games anymore...The US Treasury, Central Bank of Iraq, US Federal Reserve they are all working towards going one direction and that's to enhance the Global Financial System... Samson Article: "Central Bank Governor: Washington responds to all that Iraq needs in terms of dollars and a meeting with it next month" Clare Article: "The media advisor to the Prime Minister, Hisham Al-Rikabi, confirmed...Friday, that the dollar battle is nearing its end" X Tweet: "The reform plans for the financial and banking system undertaken by the government and the Central Bank of Iraq aim to build strong foundations for the stability of the economy and pave the way for creating a suitable climate for investment, and end the eras of illegal trade, dollar smuggling, and speculative operations in market. In short, the battle for the dollar is nearing its end." Pimpy Why is it that countries were willing to exchange more Iraqi dinar for US dollars? There's a black market out there. It isn't just the citizens that are taking advantage of it...There are countries that one way or another...get their hand on Iraqi dinar and then they swap them on the black market for US dollars. Yes, they are sacrificing more Iraqi dinar than what the official rate is but to them it's worth it...Iran has agreed to be paid in Iraqi dinars from Iraq to counter depreciation or the real. They then exchange Iraqi dinar for US dollars on the black market. Iran is one of a few countries under sanctions that do 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 Militia Man They're saying it's done. I really like that. I think you guys should be happy about it because if all the currency swaps are taken care of...I think it's a precursor to an exchange rate change in the future. Nader From The Mid East It has to revalue. If you talk about the assets and how much Iraq has...Look at Kuwait doesn't have anything. No agriculture. They have a little bit of tourism. When Kuwait hits your mind? Almost never. Here's the thing though, Iraq is more richer than Kuwait. It's 100x, 1000x richer than Kuwait. Of course because it's bigger than Kuwait... When you hear the head of state saying the dinar is stronger than the dollar you got to believe him. It is stronger. Pimpy [Response to Nader above] What I'm about to talk about proves Iraq has potential to be much much richer than Kuwait and could have much more valuable currency than a Kuwait dinar... Nader is stating Iraq is 100, no, 1000 times richer than Kuwait. I've done a side-by-side comprising...What makes Kuwait such a rich nation, Iraq absolutely has a lot more. But what's keeping Iraq behind is the following - ...Nader is right, when it comes to oil. Iraq has so much more than Kuwait does and Kuwait relies on their export of oil to make their country rich. The difference between Kuwait and Iraq is Kuwait has other things bringing money into their country besides oil. [Post 1 of 2] Pimpy They have things they can fall back on...GDP per capita...according to World Bank data Kuwait had a GDP per capita of approximately $29,000 in 2019 while Iraq was $5,000...Kuwait does share the wealth with the citizens, Iraq was not doing that. This substantial difference in GDP per capita clearly indicates Kuwait is wealthier on a person basis than Iraq. Even thought that's true it doesn't mean Iraq can't turn around get their crap together because if they did they would easily smash Kuwait...Once the Iraqi people are becoming prosperous as well you're going see Iraq pass up Kuwait as far as being a rich nation...Kuwait's got their act together. We need Iraq to do the same thing. [Post 2 of 2] Militia Man Article: "With the participation of 120 companies...the launch of the Iraq International Building, Construction and Infrastructure Exhibition" This...being launched in Baghdad for the next few days is not surprising at all on the back of all the WTO meetings...since Oct 31st regarding Iraq's accession to the organization. The 2023-2024-2025 budget is about investment primarily into infrastructure. It takes a lot of capital to build a country back...It will take massive amounts. It is far too expensive with 1310 exchange rate. An internationally accepted REER will likely make it far cheaper. Clare Article: "US approval to increase the dollar balances of 10 Iraqi banks" Quote: "The source explained that this agreement came in light of the recent meetings held by the Central Bank of Iraq with the American side, which resulted in an increase in the number of banks that can directly enhance their dollar balance to 10 banks, 5 of which are through Citibank, and the other five are through JP Morgan Bank." Pimpy I started thinking about something. Right now Iraq is mostly importing. This is a time when a country would want to increase their exchange rate. This gives them more purchasing power. But that's not what is happening over there in Iraq...I was wondering why don't they just increase the exchange rate? This would give them more purchasing power and would help them as far as dealing with the deficit because if your exchange rate if higher then you have more purchasing power...Increase in the value of the Iraqi dinar means the imports that they pay for would be cheaper because they would have purchasing power... Militia Man What's the exchange rate crisis? It's been at 1310 since the early part of 2023. They devalued to 1460 then they adjusted it by 10%. What's not good about that? What did it prove? That adjustment the World Bank was talking about of 10.3% is actually a positive sign because what did it do? It staved off inflation...There's some positive aspects to some of these things...Revaluations happen. They need to be tested.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 The Iraqi dinar is now going to enter a basket in a float and that's why the CBI has been talking...about the basket and coins... All they talk about is the exchange rate of the Iraqi dinar, about the black market going away and the only way that all of this can happen is if we have a new exchange rate and a new currency to match it. They are preparing [Iraqi citizens]. This is the monetary reform at its highest point... MarkZ Article: “Iraqi Prime Minister orders a reform of the Iraqi banking sector” He goes on to address exchange rates. Quote: “Iraqi financial expert predicts decline in dollar exchange rate.” He expects the dinar to continue to gain strength against the US dollar. “BRICS: Iraq to ditch US dollar for imported goods” They are looking to start their own “free trade zone” for selling local goods in their own currency. With a steep discount for the goods. So by using the dinar they get a better deal on these products. This is part of de-dollarization.
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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 rocking and rolling on infrastructure. This is going provide a lot of jobs. This is going to start really opening up the economy for Iraq...Things are starting to rock and roll, let's hope nothing spoils it... Frank26 Question: "If you just have a small amount of dinars would you just go to the bank manager [to exchange]?" Yeah. You got a small amount... 100,000, quarter of a million whatever, yeah, go up to the teller and have them take care of you. They won't take care of you at the counter, they'll move you over. That's why they're building these cubicles all over the place. Sandy Ingram The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history... Jeff The reason why there's no news coming out of Iraq is because Iraq is done with everything. They finished everything needed to revalue. They're ready to revalue but they can't and they're not going revalue immediately because they have to clean up corruption. Article: "Al-Halbousi faces 4 criminal charges after the end of his presidency" Boom!... Halabousi is going to be facing 4 criminal charges. Pimpy Article: "Iraqi banks begin straightening their accounts in UAE dirhams next week" There you go next week they start a different currency swap. This one is now going to be with the UAE. They're currently working on India as well...This is...necessary for them to do business with one another...These currency swaps can start happening but in order for us to see any real results it's going to take at least the rest of the year for this thing to get ironed out and implemented...The end of the first quarter of 2024...we'll start to see some results. Samson Article: "Source: Iraqi banks will begin strengthening their accounts in UAE dirhams next week" Frank26 [Call the bank experiment results] Of about 300 people...half of them told me Mr. Frank, they said it's a scam. And the other half told me, Mr Frank, they told me everything and more...The experiment worked. I didn't give you a phone number for a bank...I gave you an 800 number for Chase Financial call center...Of nearly 300 phone calls we were able to find a pattern...the names of these operators. We found the operators that were negative...Yet there were these other operators that were...educated or maybe students of the Iraqi dinar said, oh, yes you need to talk to our Wealth Management Department let me transfer you over there right away...The experiment was a success! [See yesterday's Spain Bank Story Below 11-18-2023]
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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 11-19-2023 Newshound Guru Militia Man The Bank of International Settlements is the central banks of all central banks. They move markets. Commercial traders fear central banks because of the amount of money they have to be able to throw at markets. The Bank of International Settlements talked with language I've never heard before in my 30 years of trading. When central banks have to be very very careful on how they say things because what they say will move markets. People can lose and make money. Article "The Arab Monetary Fund of the International Settlements organized a meeting...on Wednesday and Tuesday November 15th 16th of 2023" This article did not come out until the 16th. The 15th they never mentioned it...Why not tell you in advance they're having a meeting...? [Post 1 of 2] Militia Man Quote: "the meeting comes under highly complex economic conditions...discussing a number of aspects related to the role of monetary policy in facing risks resulted from the repercussions of possible macroeconomic shocks..." In other words, something is going to happen and they're telling the largest entities in the world that they're facing risks resulting from repercussions of possible macroeconomic shocks. In other words if something happens in a small country, something else could happen in a big country...If the bank of International Settlements is telling this to other central banks who does business with other central banks, those that need to know this information just got told something's up. [Post 2 of 2] MarkZ In Iraq: Article: “Iraq joins EBRD, becoming the 74th shareholder announces foreign ministry” This is the European bank for Reconstructions and Development. This is a major worldwide organization and bank. They are not doing this for some third world country. Iraq applied to be a member in 2018. But, they waited until now to bring them on board. Does this tell you anything? I believe it tells us we are about to see a currency change. If they are joining an international organization they are going to need an international currency.
