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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "Iraq increases its gold holdings and ranks third in the Arab world" Quote: "Iraq increased its gold holdings to 152.6 tons, after it had held 152.5 tons, which represents 11.5% of its remaining reserves." MarkZ Isn’t that interesting: Sudani was overheard saying they planned to have the revaluation completed, everything done by Victory Day; which is December 10th. This is from a number of folks in parliamentary finance who heard the comment. This means they have to go soon if it’s to be “completed by Dec. 10th. Militia Man Article: "Iraq intends to increase the International Monetary Fund by equivalent of 1.45 trillion dinar." They paid off their debt, inflation is down, interest rates have dropped, foreign currency reserves have increase, 152.6 tons of gold. Does that sound like a country that's still going to stay at 1310 with their exchange rate? Samson Article: "Al-Hakim to UN Representative: Iraq is experiencing unprecedented stability" Frank26 [Iraq boots-on-the-ground report] FIREFLY: They were praising Sudani on the television on what he has done...in our last two years. We all were going crazy because it's fantastic stuff everything that he has done...Remember what Shabibi said back in the day when he was alive, in order for the rate change Iraq must have both stability and security! FRANK: These are the tell-tale signs. This is the evidence that you seek... Mnt Goat My contact told me not to expect any move forward with the Project to Delete the Zeros until this new Trump administration signals, they will “fully” support it and the “process” and move to the end of the process, which is, as we all know, the reinstatement. Remember we don’t go to the bank until the reinstatement back on FOREX occurs, the end of the process. EVERYONE - Have a great Veterans' Day Weekend - Blessings - RON
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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 We know auctions for US dollars are due to stop this year. They have been very clear on that. From both the Governor of the Central Bank and Al-Sudani. The auctions right now are taking trillions of dinar out of circulation, which increases the purchasing power of their currency. It is a clear preparation for a change in value. Walkingstick Citibank and JP Morgan have been in Iraq for years...They've been working with the CBI. They've been working very closely with the digital platform for the foreign currency that will be coming in because there is no more foreign currency inside of Iraq although Iraq is now a currency hub...Iraq phased out the American dollar and all foreign currency in order for the dinar to be their dominant sovereign currency of their nation. Because of this action the dinar is no longer paired to the USD but it is pared with a basket of foreign currency. This is very good for the monetary reform policy. PompeyPeter Where are we? The have not seen the budget. But we have seen something very interesting that encourages me now to talk about the budget. [a new] article is an absolute doozy as far as I'm concerned because it's telling us quite a lot. It's telling us that Sunday the 10th of November is. Cultural Day when Iraq thinks about its great thinkers, feats of engineering, its natural beauty, its wonders and its historic wealth... this great nation which was the foundation for much in the world. This celebration is on Sunday. They moved it forward from its traditional date of the 18th. They're saying they moved it because of the census. They moved it. They moved it forward to Sunday. Frank26 [Iraq boots-on-the-ground report] FIREFLY: More and more each day videos from CBI being played on TV about the electronic platform system, saying how we are moving over and how the dinar is now stable and now stronger than ever, how the dinar will return to the 'glory days'. FRANK: Oh my God. These are the right people we want to hear from. These are the right words that we want to hear from these people...They're telling them these things IMO because they already have. All this is just the introduction.
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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 On the 10th there's going to be a collision of some very important 'heavy particles' that require the monetary reform exchange rate. On the 10th they're all coming into a collision. I think they're going to give birth to new elements. Maybe lower notes - maybe a float - maybe the digitalization of the electronic float. A lot of things might be happening but not before the 10th of this month... Clare Article: "Al-Fatlawi: The population census enumeration and numbering process exceeded 98% throughout Iraq" Quote: "...He indicated that the census will be conducted on its scheduled date on November 20." Militia Man They're going to need to expose their exchange rate so they can get on the Forex and they can open the doors so they can start paying for all those obligations...
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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 fact they are talking to you [Iraqi citizens] that the HCL is coming...means a new exchange rate is coming. MarkZ Article: “Sudani congratulates Trump and vice President on winning the White House race” Sudani believes it will bring stability to the middle east.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Walkingstick For decades, forever, the corruption in Iraq have stolen the future of the children of Iraq, let alone the Middle East...You'll find them in parliament, you'll also find them in the media - television, newspapers of Iraq...Sudani brought in Alaq with the permission of the board of directors of the CBI. When he did, things started to move forward. That's why a 10 year report has now been put out. Pimpy The dinar is not going to happen today or the next week as far as I know but this is a pretty big step [the restrictions removed from foreign currency exchange] for them because this allows a lot of liquidity which is necessary inside of Iraq. Liquidity has always been an issue for Iraq. This will change that. That means more businesses/people doing exchanges with the currencies. A lot of liquidity in Iraq is what they need. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq comes back on TV again and he's talking about we have in circulation 100 trillion dinars and in our reserves we have well over 100 trillion making our currency to be stable and low inflation. FRANK: The CBI has never even printed 100 trillion dinar so how is it possible? Because you're going to go digital and you have a new exchange rate. Samson Article: "Transport announces completion of initial design phase of development road with its land and rail routes" Militia Man I think they've got it to an exposer level. They haven't exposed the 2024 budget yet. They haven't exposed the hydrocarbon law yet. They haven't turned on oil in the Port [Into Turkey] yet. Why? Because I think the 2024 budget has something that we're waiting for. Walkingstick [Iraq bank friend Aki update] What are you doing in Michigan? I'm taking care of the CBI Bank. What else you doing in Michigan? Me and my 18 partners, we've got 93 currency center banks. Where? Michigan. The state is important. For who? The CBI. The Arab population is massive. There are cities that are just Arab 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 [Iraq boots-on-the-ground report] FIREFLY: Mr. Sammy said he has heard that Citibank and JP Morgan who have worked with Iraq for the last two years went to all the meetings...with the IMF, World Bank. It turns out Citibank have come out with something called CitiDirect program. It's...so banks can exchange foreign currency and deal with 135 different currencies. It is direct and all digital just like everything we're doing in Iraq...Mr. Sammy says these two banks will be leading the way but it will be banks all over the world too. FRANK: You can't be a central hub at a program rate! MarkZ Artic;e: “The election of the new speaker of Parliament will contribute to the legislation of important and obstructed laws” I have a few folks in Iraq that are convinced that sitting the new speaker was important and now I know why. They specifically name the HydroCarbon Law in this article…The HCL!!! There was a lot of meat to go with those potatoes.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Sudani the prime minister of Iraq is now in control of the auctions of their CBI. What's so important about that? Because... when the government sells their oil they get paid in dollars. That's the agreement with America and then those dollars go into the CBI auction and they get converted into dinars. That goes back to the government to pay their bills. But it wasn't. It was going from the CBI auctions to the hands of the corrupt profiteering evil people, the far left of Iraq...The auctions were the problem. Not anymore. MarkZ The new slogan “Made in Iraq” This is about what he needs to make a real impact. I do love the conversation going on in Iraq right now and the diversification and it is a nationwide effort. Walkingstick They used to have 130 trillion dinars in circulation. They tell you now it's 100 trillion dinars - It will be trillions to billions. 130, and now report at 100 trillion is a big clue of the direction of the exchange rate. The 100 trillion dinar they are talking about is the value of the IQD not the number of notes in circulation. The difference is extremely important. The clue is it's going in the right direction of adding purchasing power to the country's currency. Clare Article: "Al-Sudani directs to establish the concept of (Made in Iraq)" Quote: "The Prime Minister pointed the importance of establishing the concept of (Made in Iraq) as it represents a national goal shared by all..." Militia Man They're achieving bonds. They're soaking up money off the street. Here's another sign of the country that is setting the stage for internationalism. They've got bonds to get the hoarded money into circulation. That's another very good telling sign that Iraq is just about ready to open her doors... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq back in TV talking about stability and security saying Iraq have very low external debt and that's good because high external debt causes low credit rating and it can hurt a country's exchange...Alaq also said to us again the dinar would return to the 'glory days' of the past. FRANK: Doesn't get any better than that. These are the people we want to hear from and these words coming out of their mouth? This is exactly what we want our ears to hear form them.
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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: These exchange centers, they are dealing in dinars right now. What they're doing is taking in the old three zero notes that we citizens have been holding on to for years, and putting that into the electronic platform. We have paper to show us what we have in the bank. It's the new electronic system. FRANK: The reason for it is because those numbers at a flip of a switch will be recalculated with the new exchange rate and credited to the citizens of Iraq. Dinar mattresses, you know very well what this means. The fact that they found a way to bring them in is just fantastic news. This just speeds it up. MarkZ Article: “Deputy: Smuggling of oil derivatives has shrunk by 80% in Iraq” This is also about the pending approval of the HCL. It is also about securing the borders. I think it is huge. They are securing the financial borders in Iraq. I was always told this would occur right before the revaluation. Mnt Goat ...when you go to the bank to exchange the US Treasury is going to fund the initial exchange for the bank. It is all electronic...The US Treasury will own then own dinar. These banks will then turn a profit with the US Treasury for being the broker in the exchange. It will benefit them to collect as much of the 3 zero notes as possible...The US Treasury will keep a certain amount of the three zero notes for inter-banking and global trade with Iraq... Iraq has already guaranteed oil credits at so much a barrel...The US Treasury fully intends to also sell these oil credits at a profit margin to other countries needing the Iraq oil. I have asked my CBI contact multiple times on the fixed credit rate and I got varied amounts from $30 – 35 a barrel. So, it is not like Iraq has to shell out trillions back to the US to cover the cost of the funds for the exchanges... MarkZ Question: No matter who wins in the election…do you still think they will release the RV? Mark: None of my sources think that this is going to go wrong. They will be waiting for the announcement then RV things are all going to rip forward. So much does seem to be waiting on the outcome of this election. But I continue to hear positive things...Iraq is moving forward with or without this election. They have paved the road and done their due diligence. I very much expect the announcement of Iraq and the WTO full membership ascension no later than sometime in December.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Walkingstick These [new exchange] centers were established because many Iraqi banks inside of Iraq were operating and acting outside of the CBI laws. So Sudani shut them [bad banks] down. ...Sudani all of a sudden started to reopen most, if not all, of the banks that he had shut down. Why? Because he controls the monetary reform. Sudani is the boss of the monetary reform with no interference from thievery, profiteering from political people like it always was. Militia Man They're not using the dinar today yet that we know of on the Forex. But what they're saying is to my understanding is as of the 15th to 18th of October, they're getting ready to use domestic currency to support the exchange rate peg, domestic liquidity management. I hope you guys understand that...because this is pretty powerful stuff coming from the CBI. Henig [See Dearborn Michigan Article from 11-2-2024 below] Article: "Expert: Trump promised voters to end Iranian influence in Iraq. The Iraqi community will decide the elections" Quote: "He said the Iraqi community in Michigan will determine who wins the U.S. election. US affairs expert, Kato Saadallah, revealed a promise from US presidential candidate Donald Trump to his voters to end Iranian influence in Iraq, expecting the Iraqi community to elect him against the other candidate, Kamala Harris, and determine the winner of the elections." [Note: Regardless who you vote for, cast your vote tomorrow.] 11-2-2024 [In reference Guru Walkingstick's Iraqi Bank manager friend in Dearborn Michigan] AP Article: "Trump meets with Arab Americans in Dearborn, Michigan, but top community leaders skipped the event" Quote: "Donald Trump on Friday met with Arab Americans in Dearborn, Michigan — the nation’s largest Arab-majority city...Metro Detroit is home to the nation’s largest concentration of Arab Americans, with a large chunk of them living in Dearborn." [REPOSTED]
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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: CBI governor Alaq on television saying our foreign reserves at 140% above our current issued currency. FRANK: Based on those words, can you just imagine the potential of your next exchange rate?! Militia Man In the eyes of the world, politically, all three presidencies are seated and that's beautiful. That's is really big time. I like that a lot. Samson Article: ”US report: Washington avoids escalation or disruption of the political and economic situation in Iraq" Walkingstick There are CBI laws and there are banking laws but Sudani is the man in control of the monetary reform. He is in control of the auctions. The auctions now only belong to the government of Iraq. They'll go through the CBI but only for the government of Iraq. MarkZ Article: “Sudanese arrives in Turkey on unannounced visit” ...this one is important... this means we are seeing serious progress in the HCL. (Hydro carbon Law) This is a pipeline to Turkey and part of the “Development Road Project”...There is a large portion of oil sales from Iraq will be going out through a pipeline through Turkey. Most of the oil from the Kurdish region of Iraq already goes through Turkey…So this is an important step for the HCL. Frank26 [Iraq boots-on-the-ground report] FIREFLY: On television they're saying the HCL will be approved on or before the end of this year. They're saying the budget investment side also will be revealed before the end of this year. And all that must happen first before the new 2025 budget can go to parliament in early 2025. FRANK: Do you have more confidence in me...? Are you now on my side when I tell you this year not next year? FIREFLY: Yes, we more than understand. Nader From The Mid East I read an article about the oil price ...Remember I told you the oil price is $70. It's really wrong...The Chairman of the CBI comes out and says, hey, we need to change the price of oil from $70 to $40 because they know the oil can reach $50 or $60 on the prices. In the budget if you put oil at $70, couple months from now you're losing especially when the war ends...Oil for sure going to go down. The next step on the oil prices will be $40 in the budget. That's very good because they know they're going to change the rate and they want oil price in the budget works with the rate. Clare Article: "Qusay Saddam seized $900 million and loaded it in trucks in 2003 - Central Bank Governor" Quote: "After 2003, we inherited an abnormal situation devoid of any real basis for stability. Our reserves that year were $900 million, and they were seized by Qusay Saddam Hussein and loaded onto a truck. This is documented by dates and numbers. So we started from scratch. The money supply in circulation was only 4 trillion dinars. Today, the volume in circulation exceeds 100 trillion dinars, and our reserves have exceeded 100 billion dollars." Militia Man They're maintaining control of the general level of pricing, they're controlling inflation, reducing both in the management of monetary mass. Reducing the monetary mass, what does that do? If you take money out of the system, there's less of it...You have more value. They're reducing the money supply. Inflation rate was at 7.5% now it's down about half of that 3.8%. If they reduced inflation by almost 50%, then wouldn't that likely be reasonable to presume that they reduce the monetary mass about the same amount? It sure seems like it.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is saying now the currency auctions were a mistake and the dinar should be link to a basket of currencies. They say it's the best thing for our economy. FRANK: This monetary reform education is off the hook isn't it?! They're telling them constantly. It won't stop! Mnt Goat Article: "AL-ALAQ: THE VOLUME OF CURRENCY IN CIRCULATION EXCEEDS 100 TRILLION DINARS" Quote: “Today, we have more than 100 trillion dinars in circulation (issued currency), not all of the money supply, and reserves of more than 100 billion dollars, which means that the Central Bank has achieved an important basis for monetary stability,” explaining that “inflation is the basic measure of the Central Bank’s ability to perform its mission and basic function. It is less than 3.8%, which is considered a typical percentage that actually achieves stability and prosperity.”
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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 They are so so close. Our elections, we're down to what, five days. These five days will be concentrated with so many concluding thoughts. These remaining days of 2024 are so concentrated on the monetary reform policy. Guru Clare Article: "The CEO of the Iraq Stock Exchange has been relieved of his post" Quote: "The market's CEO, Taha Ahmed Abdul Salam, was dismissed from his position today, Thursday...The head of the Securities Commission, Faisal Al-Haimus, was also chosen to replace Abdul Salam." Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is saying Sudani and Saleh are telling Iraqi citizens our relationship with America needs and will turn to economic and will fade away from a military relationship. Militia Man Key point, Iraq has very little external debt based off her income streams, non-oil, oil, she's got a lot of money. $20 billion [external debt] isn't a whole lot of money in comparison to what they have income wise. Walkingstick [Iraqi Bank Manager Friend Aki Update - Reference Walkingstick's 10-31-2024 Aki update] It would behoove them to now put the pictures and the explanations of the lower denoms on the bulletin boards at these currency exchange centers. Aki owns 90 of these exchange centers with his conglomerate. You know why? Because it's all about the money. They don't get involved in politics. They don't care about parliament. They don't care about any delays. It's only about the bottom line. Frank26 The HCL cannot function at a program rate. That's why they're giving you the scientific interpretation of why they're lifting the three zeros, in order for this to make sense...and work for you Iraqi citizens. Clare Article: "Al-Mashhadani is the new speaker of the Iraqi parliament" Quote: "Mahmoud Daoud Salman Musa Al-Mashhadani (May 20, 1948-), an Iraqi politician and the first speaker of the Iraqi parliament after the US invasion of the country. He chaired the Iraqi Council of Representatives from 2006 to 2009 and was elected again today, October 31, 2024. He was also elected President of the Arab Parliamentary Union in 2008." Samson Article: "Al-Mashhadani is the new speaker of the Iraqi parliament" Quote: "The Iraqi Parliament elected Mahmoud Al-Mashhadani as its Speaker on Thursday evening, after nearly a full year..." Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr. Sammy said all branch bank managers have gone through and now completed international service standards in banking reforms as of yesterday morning. FRANK: Why? Because of the float. You have to have a new exchange rate if you're going to float it.
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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 Article: "Parliament reveals the secrets of 6 qualitative strikes against currency counterfeiting networks in Iraq" Pimpy We know Iraq relies too much on oil revenues for their money. At one time 96% of their budget relied on oil. I think it's down to 89%. Doesn't sound like a whole lot but that's a major jump for Iraq in the non-oil sector. The more they can get away from relying so much on oil the better off they are. The Development Road Project is going to be a biggie to help them generate a lot more non-oil revenue. MarkZ Article: “Hours before the session Sovereignty settles his position and “satisfied” Mushadanl as speaker of Parliament” There is a few more rubber stamps to finish, but we have a new speaker of parliament that has been agreed too. This is a big development in Iraq. Walkingstick [Iraqi Bank Manager Friend Aki Update] They are about to open many hundreds of ATM exchange enters outside of Iraqi borders. We call them currency exchange centers. Aki owns 90 of these centers. It is not him by himself. Aki is part of a conglomerate. His business partners, there's 18 of them, they own 90 of these 'currency exchange centers' around the world. The exchange centers are under the control of the GOI and CBI. They both control the exchange rate of the Iraqi dinar. Frank26 [Iraq boots-on-the-ground report] FIREFLY: They talked about about the deletion of the zeros project on the television today. FRANK: The monetary reform education is very loud. It's coming to you at an increased speed. So much is being thrown a you to prepare you. Again, I strongly feel this year not next year. I don't want to exaggerate but it's almost to the point that every day they are explaining to you Iraqi citizens why that are lifting the three zeros to give you purchasing power to your currency. This is a dream come true.
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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 ***Dinar News Flash*** Al-Mashadani is the new speaker of the Iraqi parliament. Stay tuned to the many gurus chime in on what this important milestone means for Iraq and the future of the Iraqi dinar! Mnt Goat There is NOT going to any “big lines” or celebrations in Iraq when they revalue in country. The only thing that will happen is that they will go on with life and know they have more purchasing power, but only after the reinstatement happens...They are catching up to the rest of the developed world. Also, you must remember too that the government along with the CBI is constantly now telling the citizens they are going to raise the value of the dinar to the “glory days” of the dinar. [Post 1 of 2] Mnt Goat ...the CBI is now also broadcasting the videos they produced by the committee, in which my CBI contact told me earlier this year, were being produced and ready for showing, but back then we were told – not yet. Now they are being shown to the public. Yes, it is time and so yet another clue things are close...If you talk to almost any citizens now in Iraq, they will tell you that they expect this event to happen soon. [Post 2 of 2] MarkZ This is a fantastic Article: “The Governor of the Central Bank reveals important figures on Iraq’s economy and foreign reserves” They go into how much currency in circulation today and how much before it was devalued. Revenues are up massively and they can afford an increase in the valuation. Their financial position is beyond strong. Militia Man Article: "Central Bank governor, foreign reserves exceeded 140% of local currency issues which amounts to about 100 trillion dinars...Iraq's external debt currency amounts to only $20 billion." That's very good...Bottom line is they are moving forward. Wolverine Looks like this is it everyone! Tier4b (us, the Internet Group) should be getting notifications for the currencies... Wed. 30 Oct...onwards...All needs to be done before the election...I have been assured all is ready to go... Samson Article: "Central Bank Governor: Foreign reserves exceed 140% of local currency issued" Frank26 IMO early this month all banks were told [about the dinar] and that's why now IMO every bank that you go to is now singing a completely different tune because they just realized, oh my goodness there's a lot of Jed Clampetts out there that are about to come into our banks, we got to take care of them...They're employees. They did exactly what their boss told them to say, It's a scam, get out of here. But you know and I know it's not.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "Al-Sudani: $100 billion is the size of investment opportunities in Iraq" Quote: "Iraqi Prime Minister Mohammed Shia al-Sudani confirmed that the investment opportunities available in Iraq exceeded $100 billion in value, pointing to the expansion of economic cooperation between Iraq and Egypt." Pimpy Article: "Credit Bank of Iraq achieves a profit of 20.4 billion dinars" This article is definitely a very good one for those of us who are invested in the Iraqi Stock Exchange. I only anticipate the bank stocks going up more and more. They might be some of the fastest growing stocks in Iraq. The reason for that is because they keep expanding on the banks, putting them through reform. All that's going to do is drive up the value of the stocks... MarkZ In Iraq Article: "Parliamentary Finance sets the date for the 2025 budget to reach parliament” Very early next year. This is curious to me but think they may be avoiding releasing it until after they have the rate change and exchanges…so strangely enough this fits in very well to what I am hearing. That they need to get the rate change done soon. They need to change rates and do everything they need to do before approving that budget. Sandy Ingram [Reference Sandy's WTO post from 3-22-2024] What is the WTO and why does it matter? The World Trade Organization is an international group that helps countries trade with each other fairly and efficiently. Joining the World Trade Organization will help Iraq grow its economy by making it easier to buy and sell good with other countries.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV says the recommendations for Ernst and Young about banking reforms will be approved by the council of Ministers to proceed with the banking reforms. FRANK: Ernst and Young are playing a very important part in the Monetary Reform process with the CBI and United States Treasury. Their involvement is very deep. To see this report from them once again tells me we are running out of time... Samson Article: "Blinken in the Middle East next Tuesday" Quote: "US Secretary of State Anthony Blinken will arrive in the Middle East next Tuesday, on a new tour" Militia Man You have Al-Sudani calling on the House of Representatives to vote in their president. The optics of them having 3 presidencies available all at the same time when/if...they revalue their currency is a pretty big deal. The optics would really look good globally. You got a strong foundation: security and stability at the borders, knocking on the door of the WTO, the TIR contract they signed days ago, and international agreements. Everything is gearing up for what? Iraq going international. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy wants you to know the opening of these cash deposit centers that Sudani is bringing in with the CBI are a start of collecting and a start of the deletion of the zero notes. It gives us an avenue to trade in the notes instead of clogging up our regular banks. FRANK: These currency centers have been licensed by the CBI, Sudani and the US Treasury in the last few weeks. Things are moving very fast for you citizens to receive your monetary reform.
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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 I'm expecting an announcement this year, not next year. MarkZ Article: “Salaries will be delayed: Fundamental changes coming to the Iraqi money and financial system” Some are worried about the budget deficit. This is another reason we need the dinar value changed - to erase that. Militia Man They're preparing because they're going to have much of [the three zero currency] they weren't able to get off the street back coming into the banks. But what are they going to need for those folks that held that money...? The project to delete the zeros is going to bring value. It's going to bring purchasing power... Samson Article: ”China dominates the Iraqi market: exports exceed $65 billion in 2024!" Quote: "Chinese Customs Authority indicates that China continues to strengthen its economic dominance in Iraq..."
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "Economist: Development Road Project Will Provide Iraq with Great Investment Opportunities" Quote: "The "Development Road" project consists of land and railway roads extending from Iraq to Turkey and its ports, with a length of 1,200 kilometers inside Iraq, and aims to transport goods between Europe and the Gulf countries" Frank26 I think [US] banks are feeling a little bit more relaxed because I believe the meetings are preparing them for something because time is running short...I'm grateful for the attitude, the change in the atmosphere how things are coming about now. Militia Man The Development Road Project is going be massive. It's going to create an environment that'll be seen for many decades long after I'm gone. I'm sure of it. MarkZ Article: “Washington supports Iraq’s efforts to achieve comprehensive economic development” Whenever a country is about to revalue- you will see this lady (Alina Romanowski) being an ambassador there. She had experience with Kuwait. Clare Article: "Kurdistan Finance Deposits More Than 77 Billion in Non-Oil Revenues into Baghdad Treasury" Quote: "This amount represents the share of the general federal treasury from the non-oil revenues of the Kurdistan Region of Iraq for the month of June." Frank26 Article 140 census was done many many years ago and used to calculate the HCL. They're doing the new census now because they're going to introduces a new rate. Breitling Just to be clear this is not an investment. It's speculation. I've used that in the past, it's an investment. That's incorrect. We are speculating. That's a completely different ballgame. Investing is something completely different. Sandy Ingram The average cost of living for one person in Iraq is $754/month. This amount includes rent therefore when Iraq creates a safe environment hundreds of thousands of travelers could easily spend $2,000 a month on average in Iraq. To understand how tourism can help change a country's GDP you only have to look at Mexico. Clare Article: "Counterfeiting currency in Iraq.. Is the responsibility of the Central Bank or the government?" Quote: "Two printers used in counterfeiting operations were also seized, as well as a yellow Renault wheel used in distributing counterfeit currency,” she continued, stressing that “legal measures were taken against the accused, and it was proven through the investigation that there is a person residing outside the country who visits the home of one of the accused from time to time and brings new and modern editions of counterfeit currency, which are distributed in Baghdad and Basra through one of the accused who has a relationship with one of the arrested accused"
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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: "The Trade Bank is opening depository accounts for deposits only..." That's the kicker right there... They're enticing the people to come in bring in their hoarded money...Why are they creating bank branches specifically for bringing in deposits? That's the hoarded money...If they're going to get it out...what's the incentive? Why bring all your money in at 1310? ...They're going to need incentive and I think the real effective exchange rate is going to be that incentive... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr. Sammy...knows someone that attended a big meeting with the Untied States Treasury and the CBI and they said Iraq is coming off the electronic platform. FRANK: The auctions. FIREFLY: And expanding the dinar to go outside of our borders and go international at the end of the year. So all we will see for now on, according to Mr. Sammy, are just steps taking place to get there. But the grand prize will not happen until the end of the year. Mr. Sammy said his friend was there and knows this first hand. FRANK: My heart still holds out for this year though but...these two months are important to make sure everything comes out in order for the citizens to be successful. Mnt Goat Article: "Finance Minister Taif Sami Mohammed stressed the need “to adhere to timetables to achieve economic reforms”." Yes, Iraq is on a timetable, and I don’t think they are going to mess this one up under Al-Sudani as they have in the past. MarkZ Article: “Financial Advisor: Increasing iraq’s share in the International Monetary Fund is a step to enhance the stability of the dinar” This is a big piece and now we are starting to feel that effect. It is increasing the stability and the prominence of Iraq. The dinar is becoming a “Special Drawing Rights “ (SDR) Currency, and recognized worldwide. Militia Man Those people [Who have 'hoarded mattress dinars'] are expecting the stock market to run big time when they change the value of their currency based off of a Real Effective Exchange Rate based off real assets, non-oil [revenue]. That's what's in focus right now. It's phenomenal. This is a good sign of things to come.
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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: “Salaries will be delayed. Fundamental changes coming to the Iraqi monetary and financial system" Frank26 Many people pose the question, I don't have my receipt. If I'm ever audited what am I going to do? If I don't have my receipt I'm going to be in the 40% [tax bracket]. I don't want to pay that much taxes. What do I do? Did you write a check? Your canceled check is your receipt. Did you use a credit card? You bank statement from your credit card is your receipt... Clare Article: "Financial Advisor: Increasing Iraq’s IMF Share Is a Step to Strengthen Dinar Stability" Quote: "The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, confirmed today, Saturday, that increasing Iraq's share in the International Monetary Fund represents an important step in confronting the economic challenges facing the country and stabilizing the value of the Iraqi dinar. He explained that this increase constitutes an effective tool against exchange rate fluctuations and inflation problems, and contributes to enhancing investor confidence in the Iraqi economy." MarkZ Bank Story: “Spoke to the teller at my Chase bank this morning in Arizona. I asked if this branch would be a RV center. He didn’t know what I meant so I told him about the dinar. He said he was from Iraq and still has family there. He told me that Iraq was in a Renaissance and is a very prosperous nation. He also confirmed Iraq has gone to a new digital banking system.“ Iraq dinar will not keep that low value long. Militia Man The evidence is abundant. Iraq is finalizing her reforms. With what? The support of American partnerships especially with large economic reforms and financial aspects in Iraq. These things are going to be linking the East to the West and they told you, via what? Iraq's Development Road Program. They're going to need the freedom of capital movement. That's going to be the Real Effective Exchange Rate. Frank26 Remember when Alaq went to the United States Treasury and then he came back and then Sudani went to the Untied States Treasury in New York. Do you know where the United States Treasury is right now? In Baghdad at the CBI, during this meeting, IMF probably, WTO, well of course, they're there. What did they discuss? The financial inclusion plans in Iraq and about the digital transformation. This is all part of the monetary reform... Mnt Goat Have they reached some sort of benchmark in the electronic digital banking reformation? Probably...it seems they have made so much progress. Also remember all this liquidity in the banks from the stashes and hordes of currency now being deposited. Please connect the dots and see the oncoming storm of prosperity coming to Iraq. Remember that we investors partake in this wealth when it comes to Iraq, but only when it comes as a byproduct of all these reforms. Yes, when they finally move to FOREX the plan and thus the execution of the process for the plan is moving forward nicely, it seems at a more rapid pace as we near the end of this year.
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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 What are we waiting for? We're waiting for Alaq to make an announcement I believe in some shape or form. It's going to be his job. He's the Central Bank of Iraq governor. Frank26 [Banks] know better than to keep lying to you. They're not going to admit anything but they're not going to lie to you anymore and say it's a scam because that was a flat out lie...The atmosphere in the banks [has changed], stop telling them it's a scam. Samson Article: "Washington: We support the economic reform agenda in Iraq, including updating the budget and enhancing transparency"
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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 Question: With the HCL funded is the RV imminent? Mark: HCL- We keep seeing rumors but they have not announced it. I believe they have done everything but just not announced it. Clare Article: "This evening.. Baghdad hosts the first round of indirect talks between Washington and Tehran - Urgent" Pimpy What is Iraq's Hydrocarbon Law? ...Iraq Hydrocarbon Law (HCL) also known as Iraq's oil Law is aimed to create a legal framework for the management of oil production and revenue sharing amounts various stakeholders in Iraq. Stakeholders are the Iraqi government, the companies that are involved, the different provinces, the different governments. Remember you got some very corrupt politicians, if they had it their way, they'd keep it all for themselves but the money is going to be distributed based on the per capita of each province. That makes it a lot more fair. Each territory is going to decide what they want to do with their version of the funds. Militia Man Article Quote: "The Minister of Finance and The US ambassador today discuss efforts to achieve economic reforms...They strengthened bilateral relationships between the two United States and Iraq with a focus on economic cooperation." I like that part. "The meeting discussed the development road project that connects Iraq to Europe through Turkey and is one of the largest strategic and vital project making Iraq the link between Asia and Europe." That is unbelievable and it's given a finality to it. I like it. Mnt Goat Q? : Does the CBI have a time table to their plan of reforms and are they following it? They are now targeting early 2025 for the reinstatement. Everything they are doing from now to the end of year is geared towards this target is on a timetable. Frank26 Article: "Iraq Increases Reserves at IMF by 50%" MANY CENTRAL BANKS AROUND THE WORLD INCREASE THEIR RESERVES WITH THE IQD... BECAUSE IT'S NO SECRET. See Clare's Post following from last night..! Clare Article: "Iraq Increases Reserves at IMF by 50%" Quote: "Iraqi Cabinet...approved an increase in Iraq's quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR), equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024. This 50-percet increase...will enhance the country's voting power within the IMF...The IMF created SDRs as an international reserve asset to supplement member countries' official reserves...They serve as a potential source of liquidity for IMF member nations." {Reposted}
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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 A parallel market refers to the trade of goods or currencies through distribution channels that are not authorized by the original manufacturer or the official regulatory body, and it's legal. A black market refers to the illegal trade of good and services that are either prohibited by law or sold to avoid taxes and regulations. Iraq has serious currency controls and this automatically facilitates the black market. Iraqi citizens are banned from drinking alcohol, so yes the alcohol black market is probably huge. Iraq has another black market product, oil smuggling. [Post 1 of 2...stay tuned] MarkZ Article: "Iraq Parlianment expects to vote on Economic Reform laws soon” This has to do with the Industrial investment law, and to me this is very important and one of the clear signs that we saw in their “white papers”. They are spelling out everything they have to do to support a higher rate. They are doing the economic reforms to support this higher rate and lift up all Iraqis. Clare Article: "US delegation arrives in Baghdad to prepare draft for "indirect" negotiations with Iran" Quote "America is exerting strong pressure through Iraqi mediators to conduct negotiations with Iran regarding the future of the region. It wants to adopt the principle of a single basket in resolving all issues, unlike Tehran, which believes that each issue is separate..." Frank26 [Bank Story] BRAD: Huntington Bank in Pennsylvania, I funded my account with a small amount of money and I said I'd like to place an order for Iraqi dinar but before I do I want to see how much I can get for my money. To make a long story short they sell them at the program rate, which you know is nothing special. By the time I left I realized all I had to do was have her remove money from my account. I was on top of the world. I came home and called Gary. I said you live in Indianapolis, Do you have any Huntington Banks where you are? [Post 1] Frank26 [Bank Story Continues] He goes yeah. I said, you want to call them and see if you can purchase the dinar and dong? He goes sure thing. He text me back half hour later, he goes, Brad I can get them here in Indianapolis too. They come out of Miami. Why would Huntington Bank all of a sudden be selling dinar and dong at 970 branches in 11 states? Boom! FRANK: I have a Huntington Bank here in Toledo Ohio, they wouldn't sell dinars in the past. Why are they doing it now? The reason why, IMO, is because it opens the door for them to exchange the three zero notes. [Post 2] MarkZ Slim news coming out of Iraq...But this is a good one: Article: “Erbil provides Baghdad’s Treasury with 77 billion dinars” this means look for that HCL (Hydro Carbon Law) at any moment. They are trying to keep things under wraps until they pull the trigger; but they are behaving like it’s already done. Mnt Goat Iraq is going to experience a “redenomination” of their currency meaning to execute the process of swapping out larger three zero notes for newer lower denominations. When you take money out of circulation, you cause deflation, which is revaluing your currency or making it worth more. There is also all the other assets and variables involved that will FORCE the system to bring back the dinar to its nominal value, finally. They are doing this redenomination to “normalize” their currency back to their “normal” denominations, as before the sanctions took place. They will also need a “normalized” rate and not this current “suppressed" rate.- 7 replies
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Sandy Ingram A parallel market refers to the trade of goods or currencies through distribution channels that are not authorized by the original manufacturer or the official regulatory body, and is legal. A black market refers to the illegal trade of good and services that are either prohibited by law or sold to avoid taxes and regulations. Iraq has serious currency controls and this automatically facilitates the black market. Iraqi citizens are banned from drinking alcohol, so yes the alcohol black market is probably huge. Iraq has another black market product, oil smuggling. [Post 1 of 2] REPOSTED Sandy Ingram Iraq is one of the world's largest oil producers yet the country struggles with shortages in fuel supply. The central bank vice governor said in March 2024 that Iraq is fighting a booming currency black market. He made this statement...three months after it became illegal to use dollars in transactions in Iraq...Some economists propose a bold strategy to address these twin challenges by introducing currency flotation. The would essentially remove the CBI's peg to the dollar allowing the dinars exchange rate to be determined by market forces. It appears the more controls a country has the more room there is for a parallel market or a black market. [Post 2 of 2] MarkZ Article: “Today Kurdistan government announces September salary payments” they used to be a year or 6 months behind, but now in October they announce paying September salaries. To me this means money is moving. This is an HCL requirement that is happening. I think HCL is done and they are hiding the announcement. Samson Article: "Government advisor prefers maximizing non-oil revenues by 2024"
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "Parliamentary Finance Committee praises Al-Sudani: He has a real will to boost non-oil revenues" MarkZ Let’s start with this Article from the WTO: “Congratulations to 23 participants (Iraq being one of those) for completing WTO ascension training and market access negotiations on goods” This tells us Iraq is preparing for that ascension. I continue to hear out of Iraq that they hope for that announcement this week. Militia Man The efforts are just absolutely I think phenomenal. We don't have a date and rate, but we can see Iraq is going to a market economy in the private sector. Frank26 Question: "What happened to the unpublished Gazette edition [possibly containing the 2024 budget]?" It's still in the top drawer and next to the blue box with the red bow tie on it that says HCL. Pimpy The difference between the exchange rate and the effective exchange rate is this: An exchange rate is a price at which one currency can be exchange for another. It reflects the current market value of a currency in relation to another currency. The Real Effective Exchange Rate on the other hand is a more comprehensive measure that evaluates a country's currency relative to a basket of other major currencies adjusted for inflation. The REER provides insights into a country's international competitiveness by considering how much goods and services cost in different countries...They have a Real Effective Exchange Rate already. It's being used...