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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... Especially if it's from Mark... RON ** Clare Article: "Central Bank of Euphrates News: No denomination will be withdrawn from the Iraqi currency, and the 20,000 is in the process of being designed" Quote: "It is noteworthy that Iraq has - so far - 7 categories of local currency issued by the Central Bank of Iraq, which are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10000 dinars, 25000 dinars, and 50000 dinars" ** Mark Article Quote: “The Kurdistan region proves its share of next years budget. How much?” 14 % of the budget is going to Kurdistan. This is huge. This is the first time since we have been watching this that they have agreed to HCL/140 . We were told this was key before they announced the rate according to my contacts over there. CBI have been waiting for this I was told...In print they have agreed to the oil and gas law. All money will get shared as it is supposed to get shared. ** Walkingstick [Walkingstick's Iraqi Bank partner/friend update] All the private banks and the CBI are meeting right now...the #1 thing we are discussing...is the money laundering. Most of this has been dealt with...we are constantly talking about the new small category notes - Where to store them. How to issue them...and we are in conversation about the exchange rate we are about to release. Also, we meet with the CBI to talk about the international float...the currency exchange process...
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... RON ** Frank26 [Iraq boots-on-the-ground report] FIREFLY: The CBI governor comes out and gives a statement on how it's illegal for him to discuss or even predict anything related to a rate change. He went on a rant. He talked like 5 minutes. FRANK: Isn't this something! ...the governor comes out and says according to our constitution and our laws I can't tell you we're going to raise the value... FIREFlY: Why even do this if something not about to happen. ** Pimpy Article: "Central Bank of Euphrates News: No denomination will be withdrawn from the Iraqi currency, and the 20,000 is in the process of being designed" I like the fact that it's definitely a lower denomination...they have the 250...500...1,000...5,000... 10,000 ...20,000 and 50,000 so now they want to create a 20,000 dinars. What I'm anticipating is...we're going to see the 25,000 and 50,000 dinars removed. Not right away but removed...they'll definitely be heading in the right direction. That'll definitely bring a lot of positive vibes to those individuals who've been waiting for the dinar to gain in value... ** Mnt Goat Article: "IRAQ’S OIL GENERATES MORE THAN 8 BILLION DOLLARS IN ONE MONTH" WOW! WOW! WOW! This is a filthy rich country! Yes, and the dinar is still 1/6 of a penny? ...The monthly revenue of the IQD is more than twice that of the economy of Kuwaiti KWD, their neighbor yet Kuwaiti dinar is KWD 1 equaling US$3.26 (up 26% today) and the Iraqi dinar IQD equaling only 1/6 of a $US0.01. Can you see the artificial suppression of the IQD. Why? When will they allow the true value of the IQD to be reflected in its rate and have the rate traded internationally like the KWD? ** BeeDeeDub [Reference Frank26 Well Fargo Bank post 11-30-2022 ] I PERSONALLY CALLED the...Wells Fargo Foreign Exchange telephone number...Wednesday, November 30, 2022, at exactly 7:45PM Eastern Time. The recording on that phone number explicitly stated "There are several currencies we currently do not offer, and have no plans of offering in the future, such as the Zimbabwe <<currency name>> and the Iraqi Dinar." [Also] the Iraqi Dinar STILL IS NOT LISTED ON THE WELLS FARGO FOREIGN CURRENCY WEB PAGES.
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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... Especially if it's from Mark... RON ** Pimpy I can't see them doing any kind of exchange rate on this budget. What do I think Iraq will do now? ...Find as much [stolen] money as possible. Get back on track as quickly as possible. Issue a new type of Iraq dinar and this could be their excuse when they go to issue the new Iraqi dinar to delete the zeros - kill two birds with one stone. Then go ahead and change the exchange rate...I don't know how much longer they're going to continue to move forward using the current currency that they have given the fact that trillions of dinars have been stolen. That's just not going to work. ** Mark Article: in Iraq: “Parliament announces the agenda for the next Saturday session (completion of the ministerial cabinet) “ This is 2 days from now. Some people think this is important and that the CBI wants to see this government properly sat and all squared away before they change the value of the dinar. I still think it is solely within the CBI’s powers …but this is an important article based on what I hear out of Iraq…that the CBI wants to make certain that the government is truly secure. ** Kaperoni Like every year, Iraq's budgets are created in dollars, then converted to dinar at whatever the exchange rate is. There is no significant RV of the Iraqi dinar ** Frank26 ...Once you see Article 140...HCL, the next thing you will see will be the new exchange rate...We've see Article 140...HCL is busting open the budget...In my opinion Article 140 activates HCL and that activation alone is what's going to bust open the budget. In the budget we'll see the birth of Article VIII to the reforms. Article VIII leads us to Forex...which then leads to a float.
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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 Question: "now that the 2 Kurdish ministers are agreed does this mean they have a seated gov?" THEY HAVE YET TO BE VOTED ON...DECEMBER 5TH...IT MAY BE A DAY TO SEE THE FULLY SEATED GOV- imo.! *** Frank26 Parliament is waiting for the new exchange rate from the CBI just like I told you...everybody waits for the exchange rate. They are all waiting for the exchange rate that is about to come from the CBI governor to the Prime Minister of Iraq Sudani... *** Walkingstick [Walkingstick's Iraqi Bank partner/friend update] BANK FRIEND: When they introduce the GOI that's when the exchange rate will be exposed in the budget. Because it will require laws to be voted on, to be passed, for the exchange rate to be used for the 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... Especially if it's Mark... RON ** Frank26 [ Iraq boots-on-the-ground report] FIREFLY: The budget will not be approved until 2023. We're being told again today that it will be in parliament by the 9th for review and will be voted on in early 2023. FRANK: As far as what they say about the 9th, if that happens January 1, 2023 will be very good for us. ** Pimpy Article: "Al-Sudani announces the recovery of large sums from the theft of the century" The smart thing the government should do is turn around and have new dinars created (I know you guys aren't going to like this...) and exchange them for that dinar that are out there. Thus eliminating the value of the dinars that were stolen. Make them obsolete...that appears to me to be the safest way...I'm not saying that's what they're going to do. I just think that's what they should do. ** Henig Article: "Central Bank of Euphrates News: No denomination will be withdrawn from the Iraqi currency, and the 20,000 is in the process of being designed" ** Frank26 Wells Fargo foreign currency main phone number - every time that you would call them they would tell you the currencies that they did not sell...the Iraqi dinar was always on that list. If you call that number now the Iraqi dinar is no longer on Wells Fargo's list [of not sold currency]. What happened Wells Fargo..? ** Samson Article: "For the fifth month in a row, the contribution of oil to the Iraqi budget reached 96%" Quote: "the high percentage of the oil sector's contribution to the budget is alarming, which means that the state has not tried or is trying to diversify its economy, which is still rentier, which will make international oil prices control Iraq's general budget." ** Militia Man The UST has closed access to 14 banks suspected of selling currency to countries with sanctions. That didn't go over well apparently.. I am under the impression the UST is still in Iraq... Fairly sure the country needs an international rate, just as will the 2023 Budget...Trading partners are going to need to be on the same page with contracts... Just as the borders are.. All digitized, hence, the UST involvement of late.. Looking 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... Especially if it's Mark... RON Sandy Ingram Article: "Opec+ decision did not reduce Iraq's exports" OPEC+ produces 43 million barrels of oil per day. Iraq produces 11% of this total...supply and demand is still king... next years prices per barrel...will be between $85 and $95 maybe less...OPEC controls and hold approximately 80% of the world's oil so for now Iraq's revenue is okay and for that we are grateful. Pimpy I got people out there talking [that] this next budget we're going to see a huge increase in the Iraqi dinar exchange rate. No you're not...Let me tell you why. For the same reason I stressed the first time you might not see the exchange rate happen, they were still missing a ton of money...you might indirectly end up financing a terrorist group who stole the money. Remember ISIS stole a big chunk of the Iraqi dinar so if they couldn't account for it then they weren't going to change the exchange rate in fear of accidentally financing a terrorist group. The same could be said for this right here..[Post 1 of 2] Pimpy Article: "Al-Sudani announces the recovery of large sums from the theft of the century" ...over 2.5 trillion dinar has been stolen. They recovered 182 billion of it. In your wildest dream you think these people are going to turn around and increase the exchange rate knowing that a huge amount of money out there...in the hands of criminals? And make these people even richer than they are? No it's not going to happen..[Post 2 of 2] Mark Article: “KRG delegation in Baghdad to resolve outstanding issues” ...This is the Kurdistan regional government. Why is article 140 important? ...We were told years ago that when we saw 140 pass it would be very close to seeing the revaluation of the Iraqi dinar. Article 140 addresses sharing money with individual Iraqi citizens…of course this is oil and gas revenues for the Kurdish region as well. This was an enormous missing piece that got filled last night. I was reminded of this by folks last night that are way up the chain on this…They are very excited..[post 1 of 2] Mark The passing of article 140 is huge…and a big part of the excitement today. ...Iraqi chatter...from overnight…is they are going to announce to the world that they changed their rate on the 3rd of Dec...theoretically they need to RV a few days ahead of that… This would mean things need to happen very soon…seems the 140 implementation has shaken things loose over there and was a massive step forward for Iraq. I think it could be tomorrow…or it could be the 3rd…I think we are in the short end of it. No one knows the exact timing until it happens…we just know what they are expecting..[post 2 of 2] Frank26 Ladies and gentlemen drum roll..! We have Article 140...We have HCL...Now that equals Article VIII. Article VIII is what every contract...country...investor have been waiting for. Article VIII tells the people to bring their money into this country of Iraq. They are now secure. All the banking systems are international, modern, up-to-date. We're even about to add value to it with a new exchange rate. They know what's going on... Samson Article: Jordan: Baghdad supplied Amman with 3.4 million barrels of oil at a "preferential price" Quote: "The official Jordanian News Agency (Petra) reported that about 3.4 million barrels of Iraqi oil had arrived in the Kingdom as of Tuesday, according to a Jordanian-Iraqi agreement to buy oil "at a preferential price less than the price of a barrel of Brent by $16"
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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... Especially if it's Mark... RON ** Pimpy Article: "The State Administration Alliance decides to activate Article 140 of the Iraqi constitution" ...Al-Sudani has now activated the Article 140 which has been dormant since 2014. What that means is they have to form a committee...within 10 days they should have a committee together to review how to come up with an agreement with Kurdistan on how to handle Kirkuk. ** Frank26 Article Quote: "At the meeting it was decided to activate Article 140 of the Iraqi constitution provided that a committee would be formed...to begin its duties within a period of 10 days." Article: "The state Administration Coalition decides to activate Article 140 of the Iraqi Constitution" The button has been pushed...That means the exchange rate for the HCL is also activated and soon to be given... *** Mnt Goat ...Iraq is planning something in early 2023. There is just too many actions going on in the monetary reforms now all of a sudden since October to think otherwise. First, there is a new rate in the QFS and it is a fantastic rate. For months the rate for the IQD was blank now it is recalculated. Second, the new prime minister is pushing to get the 2023 budget out to parliament by the end of November then to have parliament vote and pass into law by the end of December...if they can do it, we have a very real possibility of a reinstatement in January 2023, at least I am hearing this is a target period for the CBI... Tuesday Midnight - 11/29/2022 ** Clare Article: "Turkmen Parliamentary Bloc holds a conference on 'attempts to activate Article 140" ** Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani appointed two ministers...he says it's to speedup the preparation of the budget to parliament...Sudani is becoming an amazing leader for us. He too says, he expects the budget to be approved in January of 2023. FRANK: that's Sudani. You also have February. You also have March. All these opinions. You also have me pleading the "5th"... ** Petra Article: "Al-Fatlawi: The torrent of anti-corruption will affect many names, most notably Al-Kazemi" I believe we heard $150B dinars were being returned to the people per the announcement by Al-Sadani. He didn’t hold that information back…for a reason. He wants not only the people to know his governments actions but also a message to the international market that they mean business! They will need the secondary markets soon and they need to demonstrate action specific to corruption…and yes, more $$$ to come. Anybody hear from Maliki? ** Kaperoni Frank26...claims...nobody is under an NDA because they're all talking about it. That's true, nobody is under an NDA regarding Iraq ... At all, for any reason - it's all BS.
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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... Especially if it's Mark... RON Frank26 The constitution of Iraq has laws in it...amendments that say you are not allowed to telegraph, to hint, suggest, to say that they are going to have an exchange rate change. Can't. It's against the law. I don't think any of these guys want to be arrested because they will be arrested... Mark [Frank26 post below: Lets see if we can get a seated government by the 9th of December because that would be so good for January 1, 2023.] I still think its sooner…but he may be right on the seated government. Remember they have told us- in print- multiple times that the CBI does not need the government in order to revalue. The government has already done all it needs. It is now in the hands of the CBI. Nader From The Mid East Article: "The Federal Ministry of Finance announced on Monday the start of preparing the federal budget law for the year 2023 - while it noted an issue related to the exchange rate of the dollar against the Iraqi dinar...this issue has not yet been raised." It's gonna be...like I told you 2023. Just be patient. Hang on there. Pimpy The whole talk about the change in the exchange rate seems to have died down. Like I said before, unless it comes directly from the Central Bank of Iraq all that is just hearsay, speculation, BS. Walkingstick In the budget lies the HCL. The HCL is to share oil and gas profits with the Iraqi citizens. This is part IMO of the monetary reform. This is simply another source of income to come to the citizens besides the Monetary Reform. They will have the Monetary reform...the HCL...plentiful jobs. All of this will go hand in hand. Both the HCL and the Monetary Reform strive for the same goal to give the citizens of Iraq more purchasing power and more value but most of all more respect. Frank26 The budget has line items, and one of the line items is the new exchange rate. Mark [Q? : Do you think we will see this before Christmas?] Yes I do. But, nobody knows the timing. I am surprised we have not already crossed the finish line. I can tell you there is a massive push right now for Wednesday of this week…This is from all of my contacts.. RVAlready Hopefully, there have been enough back room meetings already to ensure a majority vote on the budget in parliament. And, hopefully, the CBI is ready to hit the RV button at the earliest possible moment - maybe before the budget is passed...GO RV!!! Henig Article: "There are no developments in resolving the two vacant ministries, and we left the matter to the Sudanese" Frank26 Lets see if we can get a seated government by the 9th of December because that would be so good for January 1, 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 *** Frank26 [Iraq boots-on-the-ground report] FIREFLY: They say the budget will be in parliament by the end of November or the first part of December. FRANK: The goal is to have it in by the 9th of December. And the banks in the United States of America know that IMO. If we do see an announced government by the 9th then January 1st 2023 has great potential for what we've been waiting for... *** Mark Article: “Barzani’s Visit to Baghdad to follow up on agreements –including the legislation of the oil and gas law” Why is this important? This is a first that the Kurdish region is showing clear indication of wanting to work with the Iraqi government. They are getting along, they are agreeing to budgets…a major sticking point to not seeing our RV or RI has been they disagreements between these factions… I am excited to see them all getting along. *** Samson Article: "Iraq is fifth in the world in oil reserves, the cheapest to extract and the most profitable" Quote: "the oil reserves in Iraq and Saudi Arabia are close to the surface and on the ground, which makes access to oil more accessible and the extraction process more cost-effective and more profitable."
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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... Especially if it comes from Mark ... RON *** Frank26 Article: "A source in the Central Bank: It is too early to trade 20,000 dinars and no old denomination will be withdrawn". THE MONETARY REFORM TEACHING THE IRAQI CITIZENS MUCH MORE! THE CBI ADMITS THEY ARE GOING TO USE A 20K DINAR...IT'S ALREADY PRINTED...THE MONETARY REFORM EDUCATION AT ITS HIGHEST! *** Mark Here is the chatter I am hearing. DOD contacts are still very confident that this week that we are in right now is the week it happens. I have heard this from a couple of sources. I know they missed the 36 hour window on Monday Didn't I tell you so..! …but they reassure me they are still working to get it done this week. More hopium, but no substance to it. I am still being told by my banking sources here that they absolutely will not work tomorrow. So realistically I believe we are looking at Friday at the earliest. That's an UNDERSTATEMENT...LOL..! *** Samson Article: "Expectations of the dollar exchange rate in the 2023 budget" Quote: "The former director of the Office of Financial Supervision, Salah Nuri...There is no change in the exchange rate of the dollar in the 2023 budget, and this is the opinion of both the Ministry of Finance and the Central Bank." *** Kaperoni ...Going to a bank to cash out. There will be very little if any banks that exchange the dinar if and when it ever becomes traded amongst banks. The reason is simple, most banks are conservative by nature...If and when Iraq ever diversifies their economy is in a position to float the dinar it will rise gradually over time. Therefore, you would never want to exchange at a bank you would probably want to engage with some type of currency broker or market maker watching it rise. *** Mark Today the fact that Iraq is cleaning up corruption has now made it to main stream news. On AP (Associated press) Article: “Auditors in Iraq uncover a staggering $2.5 billion tax fraud” This is an older story out of Iraq that is suddenly getting international attention. Maybe this is some of the smoke we need…just like we saw in Kuwait before they RV’d… *** Frank26 Banks around the world are getting ready to receive the 3-zero notes. Private banks around the world are already ready. *** Walkingstick There was $800 million flowing per week out of Iraq from the CBI banks illegally. It was being done by the political thieves...money exchangers... Maliki... auctions...fake contacts or directly stealing it and not caring if they were caught. Only the CBI can supervise their banks and they have done a superior job. That is why the international world is willing to pour into Iraq with their currency converted into Iraqi 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 *** Frank26 Article: "The Governor of the Central Bank of Iraq receives the Ambassador of the United States of America" CBI GOV TELLS USA ALL BANKS IN IRAQ & OUTSIDE OF IRAQ, ARE READY TO GO..! *** Sandy Ingram Article: "Blaming Kurds for unrest, Iran threatens Iraq with offensive" Breaking news out of Iraq - Iran has made good on their threats. They have lit up Northern Iraq like a Christmas tree with drones and missiles...the United States condemns Iranian strikes in Northern Iraq...What is this administration going to do about it...??? Or will they just sit back and say conciliatory words..!
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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 next person that tells you that it's a lop maybe you show them this...The exchange rate of the Iraqi dinar...is 1460...the goal is to drop the 3-zeros and to end the play at $1...let's say they take this rate to 1000 then they drop 3-zeros. It's $1. That's their goal to reach 1 to 1 exchange rate with the American dollar. [Post 1 of 2....stay tuned] *** Kaperoni Pimpy actually made a smart post when asked about Iraq changing the value of the dinar. He says it does not benefit them at this time as they rebuild their economy. That is correct! Pimpy's post is reposted below for context. *** Pimpy Article Quote: "The absence of the approval of the 2022 budget has hindered taking advantage of the rise in oil prices to implement new investment projects - In addition with weak business environment and efficiencies in public sector investment, mismanagement, corruption and the lack of adequate infrastructure. All these factors constitute major obstacles to attracting foreign investment despite some progress in the recent years." This is the big reason why you're not seeing any real increase in the Iraqi dinar exchange rate. Those are huge steps...that need to be taken before they can increase their purchasing power and before they can increase the value of the Iraqi dinar... So very true..! [Reposted] I hope everyone had a Wonderful & Blessed Thanksgiving. Give thanks to Almighty God for His abundant provision & blessings.
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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... Especially if it comes from Mark... RON *** Samson Article: "Basra Gas announces that its production has increased to 1000 million standard cubic meters per day" Quote: "Gas production has increased by four times, as the company produces 1,000 million standard cubic meters per day, after production did not exceed 200 million standard cubic meters per day" And now for Mark's Outrageous Rumor: ** MarkZ I am hearing $4.83 has started showing up on screens.
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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 "In numbers... an unprecedented value for Iraq's foreign reserves" Quote "Iraq's foreign reserves are the highest today in the country's financial history, which amounted to nearly 90 billion dollars...the exported Iraqi currency also amounted to about 150%, meaning that every dinar is exported to Trading in the economy is now covered by foreign exchange one and a half times." *** Mnt Goat ...the good new this period is that they are cracking down on the corrupt banks in Iraq as they already closed 14 of them. Next the US Treasury is in Iraq briefing over 35 of the existing banks how to conduct their banking practices and “best practices” for the banking sector...So why are they cracking down so heavily now? ...I am hearing from my CBI source that part of why the US Treasury is now in Iraq is also to review and implement measures for auditing the expenditures of the 2023 budget once it is opened.
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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... Especially if it comes from Mark ... RON Frank's Outrageous Bank Story - Continued from last night: ** Frank26 [Community Member bank experience Continued] And she said, 'Absolutely. The collection department will give you the rate of that day.' I said, 'Well over my dead body am I going to give you my currency without anything from you guys.' She said, 'Precisely, there are going to be banks out there that are not certified to do any of this and they will take your money and will not give you anything. You've got to remember to be very cautious about not just giving your investment to any bank out there. You want to go to the participating banks that are assisting you in this.' [Post 6 of 7] Frank26 [Community Member bank experience Continued] ...She says, 'You will receive a certificate and the minute that the collections department is complete with your currency they will put the finances into your account is what they told me.' Frank...is there another avenue? FRANK: I would much rather you tell that bank...'thank you manager and helping me but...with all due respect...what happens when you send those dinars to the other bank and they get stollen...or burned up and all my dinars are gone? ...Where are you sending my dinars? What main branch are you taking them to? ...thank you very much. That's where I'm going to go. That's what you should do IMO. [Post 7 of 7] And now for Mark's Nonsense: ** Mark [Q? : I wonder Is it True that it is 4.81 in Iraq NOW? Could this be factual?] That is what we are hearing for the international rate. I am actually hearing $4.83. We simply won’t know until we get through the door. [ Q? : Does it make sense at that rate?] Absolutely. Could it be? Absolutely.
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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... especially if it's coming from Mark... RON *** Mark [Q? : ...there is a rumor the Dinar rate has been released...] ...I am hearing similar news guys...I am not hearing those rates have been posted yet, and this is directly from the sandbox. I am hearing from my sources $4.81 and $11.90… We will not know for sure until we are exchanging…imo that seems like a very “pie in the sky“ rate. I do not believe we will see the rate of $11.90... I hope I am wrong. But, the $4.81 rate sounds very plausible…and spot on for the in country and international rate. [post 1 of 2] ** Mark I am hearing they have great expectations of it being posted in the next 36 hours or so…we do not control the timing. It could be sooner or a bit further off…we will see... we are hearing that the “oil for dinar” rate could be up to 3 times higher than the street rate...Starting yesterday afternoon we have been hearing these rumors from many sources. I can tell you conclusively that this rate is not available yet in Iraq at this present moment...Just do not make radical financial decisions on these rumors…[post 2 of 2] It would be nice if this were true, but I don't believe a word he says..! RON- 5 replies
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq...so, take everything with a grain of salt... Especially if it comes from Mark ... RON *** Mark Article: “The house of representatives adjourns its session and decides to hold another closed session tomorrow to discuss preserving Iraq’s sovereignty” What is the biggest hindrance to their sovereignty right now? It is their absolute dependence on the US dollar until they revalue their currency… They will never have true sovereignty until they do not have a US based currency…[post 1 of 2] *** Mark This means they need to reinstate their dinar value instead of using US dollars. This is an open conversation in politics over there right now guys. We know it is close…the CBI told us it is close… The Iraqi government told us it is close…the UN, IMF and World Bank has told us it is close. Every agency out there has told us this is close...[post 2 of 2] *** Nader From The Mid East People...keep saying the exchange rate that's in the budget. Me, I don't think its in a budget because the budget have nothing to do with the rate...Maybe I'm wrong. I hope I'm wrong, but I don't think I'm wrong.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq...so, take everything with a grain of salt... RON *** Sandy Ingram Article: "30% trading volume increase in Iraq Stock Exchange in October 2022" The banking sector experienced the highest share in trading at 46.9%...companies distributed dividends during October, the commercial bank of Iraq with a dividend yield of 18.4%, the Bank of Baghdad...3.6%... *** Kaperoni Remember, Iraq Imports nearly everything and until they build a diverse market economy that is manufacturing, agriculture, they will not be self-sufficient. This is critical. *** Pimpy [Q? : Does it benefit Iraq to have a higher exchange rate?] No, not right now. They have to rebuild. They have to rebuild their private sectors. They have to rebuild their public sectors. They have infrastructure...The cheaper currency gives them an advantage but we also know a cheaper currency affects...poor people and creates more poverty. As the economy strengthens, the infrastructure strengthens, stability is there..you can see them increasing 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 *** Samson Article: "A source in the Central Bank: It is too early to trade 20,000 dinars, and no old denomination will be withdrawn" Quote: "no old cash denominations will be withdrawn, and this denomination will be added to the rest of the denominations with the aim of improving and enriching cash circulation." *** Frank26 Question: "Are they going to show us the rate before the budget?" They can. I don't think it's smart...they are but only to the parliament and the cabinet.
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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... RON *** Samson Article: "US oil reserves fell to the lowest level in 38 years" Quote: "The strategic oil reserves in the United States decreased in the week ending November 11, by 4.1 million barrels, or 1%, to 392.1 million barrels, following the weekly review of the Energy Information Administration in the Ministry of Energy in the country. Since March 1984." *** Walkingstick The HCL and the census under article 140 and the INOC (Iraq's National Oil Company) and other entities too have agreed with Kurdistan on the HCL. There is no delay. There is no stopping it. That's why you're seeing things move so fast. There are no delays to the budget due to the HCL. All systems are go... *** Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friend said if the budget gets to parliament by the 9th that by the end of December it will be voted on and passed to the president to sign. This appears to put us in January, anywhere from the 1st on through the 1st quarter. FRANK: If they can get to parliament by the 9th and if they can review it up until the 30th of December then we've got a good chance for the 1st.
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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...especially from Mark... RON *** Mark They expect the 2023 Iraqi budget by the end of this month or early in Dec. We were told by many sources in Iraq that they expect the new value of the dinar by the CBI before the new budget. This gives us a very short window. I think it’s good news and gives us something to look for. In the last week they have told us that now it falls totally with the CBI. The government has told us they need the new rate for the new budget. I think we are looking at the magical confluence of events to see the value change of at least the Iraqi dinar if not the entire reset. Hopium from Mark..! Plus, I don't recall the government telling us they need the new rate for the new budget. There are members of the GOI who are for a value increase, and those opposed to it. RON *** BobTheTaxMan Let's talk taxes...[changes] are hidden inside what they call "The Green Book"...when the RV comes to fruition it's going to move you up. It's going to catapult you right into the net they're setting out in front of us...There's going to be "surcharges" on certain high-income taxpayers..The green book proposal would raise the top tax bracket to 39.6% from the current 37% and reduce the applicable income threshold to 400,000 for individuals...$450,000 for married couples filing a joint return.
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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 *** Kaperoni Iraq literally imports everything into their country for their economy to operate. Until that changes and Iraq diversifies, creates their own economy, begins manufacturing, agriculture, etc. there will be no change in the dinar value. And if and when that day comes it will not change overnight, it will rise gradually over time based on the success of that economy. *** Pimpy When the exchange rate takes place it isn't going to be for like 7 days and 10 days like I heard some people say. No. When a rate changes that's the rate. You'll have plenty of time once the rate change happens. If it's anything major, make no doubt about it, you're going to hear about it one way or another...
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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 was a two hour program on our Channel 1 news...they said they did an oil exploration and it has confirmed Iraq is basically floating on oil. FRANK: NASA did aerial shots of the territory...and they were able to find out Iraq sits on a lake of oil bigger than Lake Michigan. Bigger than Lake Eire. The whole country is nothing but oil...everywhere you walk the oil squirts out of the sand...oil makes the world go round. Wow...that's one of the reasons why I invested in the Iraqi dinar... *** Sandy Ingram Article: "30% trading volume increase in Iraq Stock Exchange in October 2022" ...the percentage of foreign shares in total trading volume increased from 8.2% in September to 11.3% in October. What this statement means is there was a lot more international money reaching the doorstep of Iraq other than the oil industry.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq...so, take everything with a grain of salt... RON *** Mnt Goat Article: "CENTRAL BANK INITIATIVES.. WIDE ACCLAIM AND TANGIBLE RESULTS FOR IRAQ’S ECONOMY" There is no doubt that the CBI has a long-term plan that began with the devaluation in 2021. It is in the White Paper. But will they continue with the progress they have made or will Al-Sudani give up on the White Paper? He has not mentioned it at all since taking office. Let’s see what he does. He does seem to have some good policies so far, if he carries them all out.
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*** Samson Article: "Iraq ranks fourth in the world in the production of dates" Quote: "raising the production of dates to 735,000 tons, after which Iraq jumped to fourth place in the world in the production of dates, and other achievements in the sector." *** Frank26 [Iraq boots-on-the-ground report] FIREFLY: We see the United States of America money department has put 14 of our banks on a black list. They are being investigated for corruption. FRANK: Only because the governor of the CBI did it first... FIREFLY: These banks were smuggling money from the auctions to other countries...this is extremely good for us... *** Pimpy They're not going to tell people when they actually change the rate...they're not going to announce it. It's illegal for them to do this. What we see is a lot of articles speculating. *** Kaperoni Iraqi Parliament is not passed a significant law in over 4 years. There are close to 100 outstanding laws that are related to the economy that need to be passed. They are encouraging investment, but investors are staying away until those laws are passed. *** Nader From The Mid East Don't be surprised if the rate is not in the budget. If they don't pass the budget from here to December it's gonna take them 2 or 3 months to try again...I'm 99% sure they're going to pass the budget before 2023 *** Samson Article: "Parliamentary Finance expects the date of the 2023 budget to arrive in Parliament and confirms: the 2022 budget is a creature that was not born" Quote: "We expect that the general budget law for the year 2023 will reach the House of Representatives either at the end of this month or early next month."
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