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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 All systems for the monetary reform are in place, they're just not linked yet. The uplink is not on yet...Many months ago the CBI told her banks to be prepared to be ready on January 1, 2024 because of all the banking system would be in place before '24...What they're doing right now is they're telling the citizens what they need to hear for the next step of the monetary reform...Once the lower denoms are announced the exchange inside Iraq will move even more quickly. You know how - through a float. Citizens want this movement to occur now. Citizens want their purchasing power. Pimpy 12 to 1 exchange rate. Nobody was speaking about it. I showed an article, their article, not my article, their article saying they were considering the 12 to 1 exchange rate but they would not consider it until...2026. I didn't make it up. I'm just pointing this out in an article...I believe they are going to go up in increments between now and 2026. That's just my opinion.
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Saturday Early Afternoon Opinions @ 2:05 PM MDT - 4/06/2024
ronscarpa posted a topic in Dinar Rumors
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Question: Is this weekend still in play? Mark: I do not think this weekend is in play. But many others believe this weekend is still in play. Most of what I am hearing is they expect most of the historic bonds to start between the 15th-22nd. Then Currency exchanges following directly on its heels. But, none of us know the timing. They cloud it on purpose. Sandy Ingram Deleting the zeros will not change the currency's value, at least it has not changed the currency's value for any other country that has deleted the zeros. [We] could not find information on the Central Bank of Iraq's website or any other reliable Iraqi news blog on deleting the zeros the past 24 months. Pimpy Article: "Iraqi economy faces threat as US closes oil revenue account" This latest move by the United States is something I'd be a little concerned about...Why the hell would you do that...? Maybe Biden is going to tell Iraq, 'You don't need these accounts no more. We're going to go ahead and turn everything over to you. All this is now in your control.' Which would be good for Iraq...It would be a big move on the United States part to go ahead and turn over all of that money to Iraq... Frank26 I believe [Sudani] will see the president with authority, with confidence, with power in their reforms. I believe he will see him exactly the way the IMF, World Bank, BIS, United States Treasury has described the monetary reform... MarkZ Comment: Ramadan ends April 9th or 10th…then 3 days of Eid El Fitr…where they like to give each other gifts…. It would make sense for Sudani to give it to the people of Iraq before Eid El Fitr. Mark: That would make sense...that is the celebration at the end of Ramadan. It would make a lot of sense for Sudani to release it about then. I forgot to hit send @ 2:05, and it's now 3:10 ... a dumb move - RON -
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 Goldilocks Article: "Viet Nam's Minister of Finance and Central Bank Governor and other ASEAN counterparts engage in discussions with international business councils to strengthen financial ties and promote sustainable growth in the region" Quote: "As Vietnam continues to expand their economy, these new demands on their currency will justify new price actions on their currency." Militia Man They are ready to resume exports at any time. Why? Because they have the systems in place. Iraq's natural resources are phenomenal...these guys have so much natural resources it's not even funny.
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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 Central Bank of Iraq clarifies the mechanism for depositing oil revenues abroad" DFI was part of something called Executive order 13303. President Bush signed executive order 13303...Clinton... Trump...Biden...resigned it. Guess what, executive order 13303...has not been resigned... Pimpy ...If the Iraqi dinar is re-denominated, that's when they LOP off the zeros, delete the zeros, reduce the zeros, remove the zeros, call it whatever you want, they're all the same thing...Re-denomination of a currency involves changing the face value of the currency by dropping zeros from the existing notes and issuing new currency at a lower nominal value...The nominal value of the 25,000 is 25,000 single dinars on one note. If we do a re-denomination and we remove the zeros off the currency, then they have to make whole new...smaller denominations...most likely going to have 1, 5, 10, 20, 50 and 100 dinar...So instead of having 25,000 written across the bill it's only going to be 25...If Iraq increases the exchange rate of the Iraqi dinar...this is different. A re-denomiation will have a slight effect, if at all, verses changing the exchange rate, increases currency value...increases the purchasing power for Iraqis... Mnt Goat ...we read in the articles today that the post-war DFI fund and its process is also no longer in effect. WOW! This means that oil revenues no longer have to be placed under US Treasury accounts in NYC...These remaining dollars will now be transported from the Federal Reserve Bank in NYC to the Baghdad, Iraq CBI...Yet more signs of full sovereignty not just on paper but tangible evidence we can see by events. The sovereignty of their currency is also coming and on the near horizon... WOW! WOW! WOW! We have waited so long to hear this good news.
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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 Frank Question: "The deleting of the zeros, would that lessen our dinar that we have here in the U.S." Yes, because...the moment they delete the 3 zeros it's going to add value to the currency and that's what you're waiting for - For them to add value to the currency so you can take your 3-zeros to a bank and exchange them for American dollars. Clare Article: "Iraq will become an "alternative" to the Suez Canal" Quote: "Iraq will become, during the next few years, a 'center' for international trade between the East and the Middle East and the West.”
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 You know how close you are to this? If you're not as close to being prepared, good luck. Pimpy Question: "Do you think the war is finished with Iraq or not?" Because the war powers are still available to Biden, technically the war is not ended there...Until the war powers are removed from the president, technically we're still at war and you're still an occupied country...Technically we are still at war with Iraq. Mnt Goat What are the next steps? We know it is the in-country rate needed to support the Project to Delete the Zeros as the next steps and, by design, it is to retrieve all this stashed currency and get it into the banks from the hordes in the Iraqi homes. Common sense then dictates to us that the only way they will be successful in these next steps is to raise the program rate higher over the dollar to create an incentive for this purpose. This will be the second rate change we have been told would occur and have been waiting for. [Post 1 of 2....stay tuned] MarkZ I know a person in banking that helped to set up 3 redeeming locations. Now whether you want to call them redemption centers or redeeming banks …these are locations that have trained their personnel and has the equipment to handle the process. You can call it whatever you want. One location in N. Carolina borrowed my currency and me to help make certain their staff was trained. For me they are very real. Somehow, I find this comment hard to believe...!
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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 Sudani is not going to go see Biden with a resigned executive order 13303 because it means the monetary reforms new exchange rate is free as bird to come out. It means Iraq is a sovereign nation now with a sovereign currency...Sudani goes to Washington on the 15th...to announce a new sovereign and confident Iraq under new the new leadership of Sudani and his staff... MarkZ Comment: Praying this is the weekend we have been waiting for. Mark: I’m with you about this weekend. Either way I feel doggone good about April... A lot of people have been told its coming- It’s coming for so long that they don’t jump anymore when told its time for things… now suddenly it appears its time for things – so a bit of scrambling going on.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Nader From The Mid East In 2001 they declare war with Iraq...There is a difference between ceasefire and the war is finished. For now it's ceasefire. No one declared the end of the war in Iraq. You see the coalition forces still there. You see the army. Maybe not a lot but they're still there. For Iraq to be free everybody have to get out of there. Any decisions Iraq made, anything Iraq do or does the United States ...have to say yes you can do it or not... The war didn't end. That's why you see Sudani coming out in the 15th of this month coming up to talk about the coalition to get out of Iraq. Walkingstick Executive order 13303 was the protection of the DFI funds of their oil money. All protected by the United States of America...No one could sue Iraq. Now it's different, this executive order has come to an end...Iraq's new currency exchange rate is under the DFI funds ... 13303 was not sighed. This is good. It is fantastic because...as long as the executive order was in place Iraq could not reinstate its 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 Frank26 We're headed in the right direction...We've been heading in the right direction all along says my teams. But many of you are still anxious for it to happen instantly. That's not how it works... MarkZ I am hearing great things from Iraq. Comment: let’s pray we’ll start scheduling appointments next week! Mark: I think it’s highly possible that we could. There was a lot of expectations from my Iraqi contacts for today…but I haven't heard anything from them yet. Pimpy Re-denomination, that's only removing the zeros off of the Iraqi dinar. That's much more different than increasing the exchange rate of the Iraqi dinar. Two different things.. Militia Man IMO you're not going to see the Oil and Gas Law until you see an exchange rate change. They're going to have to have asset valuation for that and we have not seen anything other than 1310... Breitling Do I believe in their [Iraq's] business plan? Absolutely. Artificial inflation...They have more customers and they're selling even more energy. How can it be at a 10th of a penny? Nobody can tell me this. Well Tony they printed too much currency. Hallelujah, praise Jesus! Why did they print too much currency? Why do they have too much currency? Did somebody tell them to do that? Was it Abraham Lincoln? Who was it? And why are they doing it? And now you can start putting this together. It's artificial inflation. They're selling their energy in the US dollar and that's what's backing up their currency. It's a massive opportunity. But that's the power of inflation. That's what happened to Iraq and they're going to get out of 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 Sandy Ingram In a startling development the United States has closed the account through which Iraq collects revenue form its oil sales...the Development Fund for Iraq (DFI). The DFI...served as a lifeline for Iraq to collect and manage its oil revenues. Iraq maintained this account with the US Federal Reserve Bank allowing it to receive oil revenues in dollars and use them to cover essential expenses in accordance with agreements with the United States...With the closure of the DFI account, Iraq's oil revenue is being directed to a new account, cryptically referred to as IraqQ2... Frank26 The contracts IMO they are renegotiating the exchange rate for the contracts. The issue is not whether to come out with a new exchange rate but which exchange rate to come out with... Pimpy Article: "The Minister of Finance and the World Bank are discussing support for the economic and financial reform program" Usually in the past I would say yeah, that all sounds good but we'll believe it when we see it. But now when you read this kind of news it's hard not to get a little excited because al-Sudani is doing a pretty good job considering his own political party is not working with him but against him. Militia Man Article: "The United States has closed the account through with the Iraq collects revenue from its oil sales" The DFI fund was closed on March 18th...Big change. We have not seen this before. Is it a smoking gun? ...If they were going to stop an account that had protection for all their oil money and they just now relinquished a couple weeks ago I think that's pretty big...They must have felt comfortable in a sense they could handle recourse on that debt...I'll tell you this, if they change the value from 1310 to a previous era, it'll become a lot cheaper to pay off their debts... MarkZ Question: Did Iraq get their bank accounts and money back from the US? Mark: YES. This is huge. This is enormous. Iraqs money for oil sales is no longer going through the United States. I was told this is what Iraq has been waiting on before they forced things to fruition...The closed DFI account is huge…And one of the things I was consistently told from government contacts in Iraq is how hard it has been for them with oil revenues going through the US. This has enormous repercussions for Iraq and their economic sovereignty. This is an important key piece that we just saw occur...Now we need the announcement on the HCL front, which I believe has already happened- we just need the announcement. Clare Article: "Iraqi economy faces threat as US closes oil revenue account" Quote "...with the closure of the DFI [Development Fund for Iraq] account, Iraq's oil revenue is now being directed to a new account, referred to as IRAQ2. This transition raises concerns...banking specialist Kamaran Qadir Yaqub...warns the protection previously afforded to Iraq's revenue may no longer be guaranteed." Mnt Goat In today’s news articles we learn about the expiration of the extension of the US President’s Executive Order 13303 put in place in 2003. So, there is no extension this year...Why is this so important to us investors? First, the expiration of 13303 shows to us once again that Iraq is slowly moving out of the sanctioned mindset altogether. But now we moved to a new level. We know that in December of 2022, Iraq completed its war reparations payments to Kuwait and thus followed that all the remaining UN sanctions were lifted. [Post 1 of 2] Mnt Goat What happened next was the VERY quick response by the CBI to begin the de-dollarization process in Iraq in 2023. Then the unanticipated length of resolving the issue of the stability with the parallel market which delayed the process we are now looking for. Last week they told us the parallel market is now under control...I verified this with my CBI contact...Many investors have been waiting for this news...and tell us that this is a VERY GOOD sign for us in that since we no longer will be needing this protection, since maybe the dinar is soon to be free to move into its full potential as a sovereign, global currency...Remember it is normally renewed on April 1st and so what is in stored for us in April? Just saying. [Post 2 0f 2]
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 The HCL simply waits for the new exchange rate to be released, just like everything else is waiting for it. You, me, contracts, investors, Forex, etc etc. Goldilocks Wikipedia: "Executive Order 13303 was issued on May 22, 2003, by United States President George W. Bush to protect the Development Fund for Iraq for the rebuilding of Iraq from any legal attachments or liens." this executive order 13303 is being lifted. MarkZ Question: Have they already decided on a rate and date? Mark: My contacts in the ministry in Iraq told me they have set the rate. We are just not privy to that or the date.
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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 Many things are waiting for the new exchange rate. I sincerely believe that the very first domino that allows everything else that is waiting for the new exchange rate is the budget that allows everything to live and function. MarkZ Comment: [Remember Sudani is coming to the US on April 15th. I believe it will be a post RV victory lap.] Mark: A lot of my contacts believe that as well. Some contacts think tomorrow may be the day. We will see. It’s not coming from enough sources to put a lot of stock in it though. Pimpy Did we hear this rumor correctly? Did Iraq find a replacement for oil? ...It's been under their feet the whole time...What do you suppose that would do for their economy especially if it allows them to get away from relying so much on oil. It could be very very exciting... Article: "One more country ahead of us in the race for the 'most renewable fuel': this is a developing one and will replace oil" It looks like Iraq is going to start doing what they can to get away form oil and start producing green hydrogen... Yes, indeedy things still looking good for Iraq. Let's hope they stay on the straight and narrow and everything goes their way and we can see the Iraqi people have a prosperous life. Militia Man When Iraq adjusts their exchange rate...all boats rise with the tide. All those boats that own Iraqi dinar are going to rise. The United States is going to be part of that process with the Development Road project. See how cheap it's going to be to build that country by raising the value because they have a real effective exchange rate? You can see where the deals are going to be made. It's going to be phenomenal. Walkingstick There's nothing like the facts. Everything they're telling the Iraqi citizens is a fact, because it's coming from the right sources. MarkZ Member: I heard Iraq is going to do what Kuwait did and allow their people to party a few days before they release rate to the world? MarkZ: Kuwait managed to keep their RV a secret for 10 days before the world found out. With today’s internet they would have a difficult time burying it for very long. I don’t think they would get more than a day or two at most. Clare Article: "Iraq’s banking system grows 15.1% in 2023 to $156.7 billion"
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Fnu Lnu Article quote: "Al-Kadhimi indicated that increasing the budget’s overall amount, from 199 trillion Iraqi dinars (nearly $152 billion) to 228 trillion Iraqi dinars (approximately $174.04 billion), resulted in a rise in the deficit, revealing that the budget is still being discussed in the Council of Ministers and would likely be presented to the Iraqi Parliament next month." It would logically follow that a revaluation would be likely before next month's USA confab. Pimpy Community Request: "Please tell us about the smaller notes, 500s, 250 and 50s. Will they be a throwaway? What is the good and bad of them?" If they do a re-denomination there won't be a need for a 500 or 250 note...They're going to create the notes like the ones we have. You will see a 1, 5, 10, 20, 50 and 100 denomination...They don't lose the purchasing power. The 10 has the same purchasing power as a 10,000. The 5 has the same purchasing power as a 5,000. The one has the same purchasing power as the 1,000... That's so, only if we believe your understanding of what they intend to do. Which, of course, none of us believe it. Besides, The notes are already printed. Militia Man With the Central Bank taking measures to stop the exchange rate rise in the parallel market showed they attained a gradual decline in the exchange rate due to merchants gravitated to the new platform in significant numbers whereby the parallel market decreased to a mere $25 million a day compared to over $200+ million with the legitimate system. They say that decline will continue. Likely to disappear, imo.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Where did anybody get the information that the Iraqi citizens were going to be paid for the hydrocarbon law? ...I've heard that rumor so many times and still to this day cannot figure out where it comes from...Iraq's hydrocarbon law revenue sharing include the Council of Ministers ...[and]... Federal Oil and Gas council... Nowhere in the hydrocarbon law...does it say anywhere in there about disbursement to the Iraqi people...I haven't been able to find anything in which the Iraqi citizens are able to benefit from the hydrocarbon law. They're not getting payment whatsoever... Militia Man Article Quote: "Minister of Finance ...will launch funding for the government tomorrow Sunday...explained the value of salaries amounts to 69 trillion dinars." 69 trillion is over half what they've ever printed. It doesn't make any sense. How do you have a 228 trillion budget when you don't ever have that much money? Frank26 The CBI announcement - We believe it's about the currency. We believe it's about the auctions. We believe it's about a change in the auctions, a metamorphosis of the auctions which is exactly what the US Treasury wanted in order to have security and stability in the bank, which was exactly what was needed in order to bring forth a new exchange rate for their currency. May everyone here on DV have a Blessed & Joyous Easter - Jesus is Risen..!
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Fnu Lnu [Response to Pimpy's HCL non-revenue sharing post from 3-31-2024] The notion of revenue-sharing is nothing new in the Middle East. Bruni and Kuwait both do it...Revenue Watch Middle East Director Yahia Said recently returned from several months in Iraq working on the International Compact with the UN...This USIPeace Briefing summarizes the discussion. Many Iraqi citizens look to the law for what it can contribute to reconciliation, security, and welfare. The three parts of the agreement will deal with the issues of 1) revenue sharing; 2) restructuring of the ministry of oil; and 3) establishing the Iraqi National Oil Company (INOC). [Post 1 of 2]{Reposted} Fnu Lnu It is quite clear that the HCL has intentions to codify the issue of welfare (not for government) and the number 1 issue is REVENUE SHARING. To be more specific; Section 1314 of the FY2007 Supplemental Appropriations Act [P.L.110-28] specifically identified the enactment and implementation of legislation “to ensure the equitable distribution of hydrocarbon resources of the people of Iraq without regard to the sect or ethnicity of recipients” and “to ensure that the energy resources of Iraq benefit Sunni Arabs, Shia Arabs, Kurds, and other Iraqi citizens in an equitable manner” as benchmarks. [Post 2 of 2] Pimpy It really looks good for the future of Iraq. Outside of the corruption that's in the government. If they can stay on the path, Al-Sudani gets a clear path to continue, the future for Iraq's economy looks really good. They should see some economic boom as long as the coordinating framework and those political people that are in power can somehow get out of the way or removed from office altogether... Militia Man Q? : Why in the world would anybody want to invest into Iraq if they were going to put their money into Iraq and then they were going to lose? Because if you invest your money in Iraq and they LOP their currency you're not going to make any money, it's a neutral event. Walkingstick [Report from #1 - his Iraqi bank owner friend in Iraq and in our opinion] The HCL has been long done! ....Article 140 and the disputed territories, done! The redenomination at the onset, that rate is done! Awaiting nothing but the release and implementation of all of this. MarkZ Question: Since Sudani has to go to US on April 15th does that mean nothing will happen on the RV until then or after? Mark: Many believe he could be coming to the US after the RV for his “victory lap”. But not very likely. I'm afraid we'll need to wait till late Summer or Fall. Clare Article: "Al-Shammari reveals the most prominent files of Sudanese’s visit to Washington and the government’s ambition regarding the dollar" Quote: "Al-Sudani's visit to Washington will be practical and will not be for taking pictures...The Iraqi delegation will ask the American side about the reasons for their decisions to impose sanctions on Iraqi banks... Our expectations are that the visit will be very successful." Frank26 [Iraq boots-on-the-ground report] FIREFLY: Ramadan is over on the 8th. Then we have EID holiday from the 8th to the 14th and then on the 15th Sudani is supposed to go to Washington D.C...It's time to get a little excited...
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Fnu Lnu [Response to Pimpy's HCL non-revenue sharing post from 3-31-2024] The notion of revenue-sharing is nothing new in the Middle East. Bruni and Kuwait both do it...Revenue Watch Middle East Director Yahia Said recently returned from several months in Iraq working on the International Compact with the UN...This USIPeace Briefing summarizes the discussion. Many Iraqi citizens look to the law for what it can contribute to reconciliation, security, and welfare. The three parts of the agreement will deal with the issues of 1) revenue sharing; 2) restructuring of the ministry of oil; and 3) establishing the Iraqi National Oil Company (INOC). [Post 1 of 2...stay tuned] Pimpy Community Comment: "It's the exchange rate. I don't know where they get taking zeros off the bills." Every study out there that talks about the deletion of the zeros tells you it comes off the bank notes...If they delete the zeros, your 25,000 becomes a 25 dinar. They're going to take the zeros off [the rate as well]. .00076 becomes .76...still the same value. You have a smaller denominated note but your purchasing power stays the same. Holy crap, Pimple can even do simple math - they are NOT the same. MarkZ Article Quote: “Iraq’s banking system grows 15.1 percent in 2023 to $158.7 Billion” That is an enormous jump. This is part of the process to reinstate their currency. Deposits continue to increase as more people keep their money in the bank instead of under mattresses. Militia Man Auctions are going to stop as we know them. They're suggesting they have a move... Article Quote: "The bank said it would stop the platform at the beginning of the year..." But then they moved to next April 1st. That's Monday...It's exciting times to be sure. If they're stopping those auctions as we know them something's going to change. Frank26 Article: "Al-Shammari reveals the most prominent files of Sudanese’s visit to Washington and the government’s ambition regarding the dollar" THE FINANCIAL FILES WILL REPLACE THE PROGRAM RATE Quote: "The government is planning to reduce the dollar to the official rate." This is certain, but it takes time. Texas Snake ...what my banker has just shared with me: “THE LATEST MESSAGE TO ALL REGIONAL CURRENCY EXCHANGE MANAGERS IS TO ADVISE YOUR SPECIALISTS TO BE AVAILABLE FOR DUTY IN THE WEEK FOLLOWING THE EASTER WEEKEND AS OUR INFORMATION IS ALL REQUIREMENTS HAVE BEEN SATISFIED GLOBALLY AND THE ANNOUNCEMENTS WILL OCCUR IN THE FORTHCOMING WEEK...PLEASE RECOGNIZE WE HAVE HAD SUCH NOTIFICATIONS BEFORE, SO HOPEFULLY FURTHER DELAYS WILL BE UNDERSTOOD.”
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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 head of the Parliamentary Finance confirmed the exchange rate will continue to decline according to current data." Exactly. Because once you guys go public and private and you adjust your real effective exchange rate the parallel market goes bye-bye...and the dollar's pricing is going to go down, the dinar is going to get stronger. Exactly what Sudani said...
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 The next thing I want to see [After the restrictions are lifted on the one main Iraqi bank] is the budget being amended and released because then after that it's a domino effect. Everything else will follow it... Kaperoni It has been clearly stated that Iraq's net worth is about 16 trillion dollars including all minerals and oil in the ground. Iraq has over 100 trillion dinar in circulation. There can never be a significant RV. Fnu Lnu There is nowhere near 80 trillion Dinar in circulation. Much of it has been destroyed, huge sums are frozen in Nostro/Vostro accounts, and many banks have foreign reserves which are NOT circulating. 97% of the three zero notes have been taken off the streets in Iraq already and destroyed. It simply isn't true nor is it accurate on both counts.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: My bank guy says the only way they would stop funding the budget and stop everything is to make a rate change in the budget...the new rate will produce excess funds to cover the reform projects...He says when that budget gets done this weekend and if it is amended the rate change will come real close in his opinion... FRANK: I agree 100%...once we see the budget amended and released it will expose a new exchange rate. I don't think that a simple rate of 1 to 1 is what Sudani is looking for anymore. Mnt Goat ...it is very significant to collect...dollars stashed in the homes of the citizens. This is the next step. But they told us the CBI would not take this next big step, to collect all this cash, unless they first got the parallel market under control. Now they are telling us it is under control. ...But how will the CBI get all these hordes of cash out of the homes and into the banks? ...Yes, more purchasing power...But how do you get more purchasing power? You must increase the rate of the dinar and I firmly believe this will be next step, and this is coming soon, VERY soon! [Post 1 of 2] Mnt Goat But slow down cowboy, I did not yet say reinstatement...this is going to be first an in-country revaluation... We don’t actually know the next “program” rate revaluation from 1320, but we do know with certainly it must be over a dollar. How much over to give enough incentive to turn in the dollars, we don’t know. ... We are not going to exchange at this rate anyhow. Later, after the reinstatement, If you live in the U.S. you will get the U.S. rate, if in Canada you will get the Canadian rate or if you live in the EU you will get the European rate. I'm told it will be significantly higher than the initial in-country rate by the time we see it and go to the bank..[Post 2 of 2]
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON FRANK26 We are in the mode of anticipation. We're not in the mode of study. There's no more files to crack. We're sitting here waiting for them and the big thing I'm waiting for is the announcement that all the restrictions have been lifted. But it's only on one Iraqi bank. It's a lot closer than we realize... Fnu Lnu It is disingenuous to try to say that Iraq ONLY has a net worth of 16 trillion dollars. Those calculations do not account for many factors like tourism, a monumental gold deposit that is never spoken of, port revenues, tariffs...etc. Walkingstick The 228 trillion budget is going to turn into 22.8 billion dinars at 1 to 1 rate, along with the lower notes. Pimpy The IMF, WTO, World Bank and whoever don't have a say whether or not Iraq LOPS off their zeros. That is decided by the Central Bank of Iraq as well as the government of Iraq. You're confusing the 'lopping of the zeros', 'the deletion of the zeros', 'the reducing of the zeros', 'the removing of the zeros', as somehow a loss in value. It is a neutral event. It doesn't affect outside investment into the Iraqi dinar. I told you when you remove the zeros all you're doing is lowing the nominal value of the currency. Has nothing to do Iraq's exchange rate versus other wold currencies - noting whatsoever.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Question: "Should we exchange all our dinar at the first meeting or just a little amount at a time?" That's your prerogative. You have to make your own decisions. I'm not going to tell you what to do. Let's pretend you have a million dinars. I wouldn't exchange all of it. Why? Because the Iraqi dinar is going to float. It may float by itself or it may float in a basket but either way it's going to gain value in the international market. Whatever rate they come out at I'll exchange at that rate and I'll hold back some of it because as time goes by the rate will increase and I'll make more profit. [Note: Consult your financial advisor team to build the best exchange strategy for your unique circumstances.] Paulette They [Central Bank of Iraq] have 135 tons of gold which has a value of about 7.5 billion USD...not a whole lot to back trillions of IQD...I know Iraq has a lot of gold in the ground but that is not property of the CBI Sandy Ingram I would say [They] do not want us to have wealth from our investment in the Iraqi dinar. Why? Because it would become too difficult for them to continue to control us. We are the ones they do not want to give power to...When I...imply Iraq will go on to readjust its currency and we may not be privileged to participate in the profits this is where I am coming from. Iraq readjusting its currency does not mean the country will join the global financial platforms. Saddam never did and his currency was worth 1 dinar to 3 US dollars...Will they allow the people of Iraq to connect with the people outside of Iraq on the Forex market?
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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 I believe we are just waiting on a REER (Real Effective Exchange rate) right now. The question is what are they waiting for on the timing? I hear (????) from banking contacts, government contacts, A Ministry of Finance contact in Iraq…that they just need the announcement of the REER. Question: So we wait for the REER- and then it will float up? Mark: Not necessarily. If the rate is high enough …and we believe it will come in higher and not float...We believe the REER is coming in strong. Pimpy This is [from] the World Bank data bank - Real Effective Exchange Rate is the nominal effective exchange rate in measure of the value of a currency against a weighted average of several foreign currencies divided by a price denominator or index of costs... Iraq already reports a real effective exchange rate. They report it all the time...It's reported to the IMF regularly... Yada We are practically sitting on it, all things in Iraq are in place, markets are set to explode with the increased spending in Iraq, and the REER is about to be seen. Before 4-1-24 Now that's wishful thinking..! Militia Man The 15th of April, I'll tell you this, most likely what...Sudani, Alaq, all those folks in the Ministerial Council of Economics, they're working their tails off to make sure to make sure they're ready, if not done, well before Al-Sudani shows. Because if he's coming to town and he wants bargaining chips and I'm pretty sure a real effect exchange rate is going to be one of those bargaining chips. Mnt Goat I know it’s been a very long road for us investors but we will get to the end of this and we can now see the writing is on the wall...we must...follow the 2011 plan and it is going to lead us to the RV, whenever that occurs. We can see now their next step ...we can clearly see it is VERY, VERY close, according to the interview with Salih. Frank26 Minister of Finance..in Washington DC. He's not there to see the president of the United States. He's there to deal with the exchange rate of their country not with the American dollar.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Fnu Lnu New notes will be a necessity. However, they will be used in the domestic market primarily, as almost everything else will be done electronically. The IMF will not allow member country's to "walk away" from their currency. This new note / delete the zeros paradigm is not complicated. The hand wringing can stop now. Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV is say when Sudani goes to Washington. OMG that's a long time off. Means nothing changing until after that probably, if it does this year. FRANK: I don't care if it happens on the 15th of April. I don't care if it happens tomorrow. I just know it's happening with all that we're seeing. The proof is there. There's no doubt about it. Pimpy Once they re-denominate the old currency is no longer any good. You can exchange it for the new lower bank notes but your higher bank note doesn't have any extra or more purchasing power or more valuable than the new notes.
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Thursday Early Afternoon Opinions - 2:45 PM MDT - 3/28/2024
ronscarpa posted a topic in Dinar Rumors
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Question: Do we have the green light yet Mark? I think we have the green light. I am looking forward to what the next few days bring. Pimpy When they re-denominate all currencies are going to have a new look. Most likely what you're going to see is the same thing you see here in the United States. We have a $100... $50...$20... $10...$5... and $1 bill. Most likely that's what you're going to see in the dinars... Militia Man Article Quote: "Advisor to the Prime Minister al-Sudani...the global economic community estimates as a stock capital at prevailing price today, Iraq's worth about $16 to $17 trillion U.S. dollar" It's a lot...Instead of having people come in and mine it, take it away and produce and sell it, Iraq's going to mine it, produce it and sell it. They're going to get both sides of the equation...That raises the income stream for Iraq... Frank26 [Iraq boots-on-the-ground report] FIREFLY: The foreign minister already in USA is a prelude to Sudani grand stand that's coming April 1st, our new fiscal year. FRANK: So much is now pointing for your 1st quarter. April the 1st or maybe the first week of April especially with Sudani going to see the President of the United States in Washington DC on the 15th of April. It seems to me he's going to go see the president with a new exchange rate under his belt...not the weak leadership of a program rate.- 10 replies
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Militia Man Article quote: "...in addition to the possibility of achieving a significant increase in its Financial incomes that would raise the purchasing power of the Iraqi individual..." To me that's massive because...they're talking about raising the purchasing power of the Iraqi dinar. How do you raise the purchasing power of the Iraqi dinar without changing the exchange rate? Obviously...they can't. MarkZ COMMENT: Sudani is supposed to be in the US on April 15th. MARK: Personally I think Sudani may be here for a “victory lap” after we have already started doing out exchange. Kaperoni Iraq only has a net worth of about $16 trillion dollars including all minerals and oil in the ground. With over 80 trillion dinar in circulation they could never significantly RV the Iraqi dinar...We shall see soon enough Kaperoni..!
