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EMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Article Quote: "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1,32 Iraqi dinars instead of 1320 dinars. Implementing such a decision is likely to significantly increase Al-Sudani's popularity." I know everybody somehow, someway got that the exchange rate was going to be $1.32. That's not what this article says. It says the official cost of the US dollar will be 1.32 Iraqi dinars...What I'm hoping this means is $1 US will get you 132 Iraqi dinar. That would be pretty nice increase in the Iraqi exchange rate. That's a 90% increase. This is an AMAZING POST, especially coming from Pimpy...! 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 Frank26 Article: "Among them concerns the dinar... the outcomes of Parliament’s finance meeting with the Central Bank" ALL THEY TALK ABOUT IS THE 1.32 & THE INTRODUCTION OF THE LOWER NOTES!!! FINALLY... THE SOUND HEARD AROUND THE WORLD! This is actually happening. This is a reality. The monetary reform to add value to the currency and then to float internationally is a reality...because it's in print. Petra Early Monday morning was the article demonstrating the fact that Sudani was considering changing the rate of the dinar from 1310 to 1.32 which for us in the United States is $0.79... Then the very next day we get an article talking about the new small category notes. They're talking rate, they're talking notes. And then you got Tannini the Commerce Director there talking about a surprise could happen within hours in regards to their monetary reform... Samson Article: "Parliamentary Finance: We look forward to coordinating with the Central Bank to increase the value of the dinar and control the 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 Pimpy The Coordinating Framework is trying to remove Al-Sudani. The political scene is going to be very unstable. If Maliki does his job and causes protests, that means the country is going to be unstable which means the economy is unstable. All these things are going in the wrong direction. We went from being high as hell with lots of hope to now it's just looking terrible. Militia Man Al Sudani has told the citizens the dinar is going to be stronger. $0.76 is not stronger however once they delete the zeros then they can apply their Real Effective Exchange Rate. Totally different ball game. Totally different circumstances. Pay attention. Let's see how this turns out. Harlequinc3 It helps me to think of it this way. 1.32 IQD to 1 USD means it takes 1 whole dinar and .32 of ANOTHER dinar just to get $1. It's not QUITE at a dollar. That's $.76. So if it was .50 IQD to 1 USD, that means it only takes HALF of one whole dinar to equal a dollar -- so that's a $2 rate. If it was .33 IQD to 1 USD, that means it only takes 1/3 of a whole dinar to equal a dollar -- wow, that's a $3 rate! We're happy you could figure that out H3...It's already been explained numerous times.
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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 Paulette This is clearly what the article said... They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar. This is clearly 76 cents to 1 IQD...Currently the rate is 1,320 IQD to 1 USD. Looking it at the other way, this is 0.0007575 USD to 1 IQD. If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD. If they drop 2 zeros: 13.2 IQD to 1 USD or 0.07575 USD to 1 IQD. If they drop 3 zeros: 1.32 IQD to 1 USD or .7575 USD to 1 IQD. Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD. [Post 1 of 2....stay tuned - more to come.] Frank26 We were looking for 1,200 or 1,000 [to 1 USD] but I don't think we're going to see it...We haven't seen a single pip movement ...It's possible they may be looking at $1.10, $1.20 or $1.30...Let's see where they enter the basket. I'd love for them enter at 1320 because that means we're ready. I don't think there's any more preparation is required...I believe they have the potential to cap it at about $4.25 [in the float].
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ We still do not know the timing, but I am going to reiterate that the weekend before last they formed a committee to help inform businesses and citizens how to deal with the changing rate and changing prices that is going to occur. This is huge. Frank26 There was an announcement made by the Prime Minister Sudani...He told the Iraqi citizens, I'm going to add value to your currency. He used a solemn oath that swears upon Allah, their God. You don't go around breaking that promise. It was exciting to realize the Prime Minister told the people, I assure you, I give you a solemn holy oath were going to add value to the currency...Sudani told the citizens we're going to raise it to $1.32...He explained if we lift the 3-zeros from the exchange rate we'll be able to give you $1.32 in country. That's good purchasing power. Clare Article: "After hosting the Governor... Parliamentary Finance: We look forward to raising the value of the dinar" Quote: "...Thursday, the Parliamentary Finance Committee expressed its aspiration to coordinate with the Central Bank to increase the value of the dinar and control the market." Mnt Goat There are many who want to force the reinstatement which is like me telling you that on March 19th (first day of Spring) suddenly overnight everything will change and wamoo, we will have spring. But we all know it doesn’t work this way and so we must make this logical analogy / comparison to our investment the RV. Just like mother nature has a plan for Spring, the CBI too has a plan and it takes time to execute 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 MarkZ If any of you are questioning if this is ever going to happen …I want to give you some reassurance…. Here we are at Thursday and this is the second time this week …directly from the Iraqi Parliament: Article Quote: “Parliamantary Finance and CBI discuss increasing the DINAR and controlling the market”. In other words they need to remove restrictions on the banks and increase the value…that is how they control the market...They are still openly talking about it…again. Militia Man ...If they adjust the exchange rate and delete the zeroes who's going to need the dollar when they apply the new Real Effective Exchange Rate to it? Nobody is going to need the dollar because the dinar is going to be stronger than the dollar and that's my opinion. We are in a situation where ...a political crisis...or surprises could change the exchange rate and that could come within hours... Tishwash Article: "Parliamentary Finance: We look forward to coordinating with the Central Bank to increase the value of the dinar and control the market" MarkZ Question: Anyone heard anything about Iraq going by itself - not all countries? Mark: A person in our community had an interesting conversation. He has a personal relationship with a banker. Quote: "Met for dinner with a banking executive...the banker told me about the basket, or first round is going to be only the Iraqi dinar and the Iranian Rial. He said those countries are gold backed and their internal banking systems are more set up…more so then the others are. The dong should be ready to exchange by late fall...He did not know about the shotgun start and said it will be easier to roll them out piecemeal..." [post 1 of 2] MarkZ I take it as a very good sign...It is encouraging to hear an active conversation about it and that it’s going soon...I am still hearing that the majority of the currencies will be going all at once. But, its best to be prepared. Question: if Iraq and Iran go first and alone, I wonder- will the currency still be allowed to float? Mark: I would assume “YES” …I believe all currencies will be allowed to float after this. Because of the underlying asset values. [post 2 of 2] Babysmom ...THE DINAR RATE OF $1.32 IS WHAT THEY ARE HOPING WILL COME OUT IN IRAQ. BGG Article quote: “The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320. Implementing such a decision is likely to significantly increase Al-Sudani’s popularity.” ...The article was published yesterday & I am suspicious of it’s veracity and timing. It always seems to get tossed around during election season. Furthermore, how they decide to get from 1320:1 to 1.32:1 is another story entirely...Everyone will get all excited, when in reality… even if this is a legit move – it could still go 20 different ways. Mnt Goat Don’t be discouraged, the currency reform and banking process has come a very long way in a short period of time since January 2023 compared to waiting since 2011, when the plan originated with the IMF on how to turn the currency back on. So we went 11 years with not much progress then suddenly a huge jump which tells us something is up. This alone is all telling...If Iraq is to progress, as they say is their goal, they will need a globally recognized and traded currency once again and get it VERY SOON!
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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 Can the Iraqi dinar get as valuable as a Kuwait dinar? Of course it could. There's a lot of hurdles there. Are they [Iraq] going to be reinstated? No. Two different stories. The invasion and occupation [of Kuwait] was about 7 months...The Kuwait government was still able to do business as usual outside of Kuwait, use the money they had in their reserve fund. Iraq did not have that, not to mention the fact that Saddam Hussein... printed the hell out of the Iraqi dinar causing the value of the Iraqi dinar to drop...You can't compare Iraq to Kuwait because there's no comparisons... MarkZ The market crash is looking closer and closer. More and more economists are saying it is likely …Jaime Diamond [CEO J.P. Morgan Chase] recently said the Iraqi dinar is going to save the worldwide financial system. So will we see the crash and then bam…they pull the trigger??? As we indicated before, when Mark made this statement, NOWHERE could it be verified that Jaime Diamond ever made that claim..! Paulette This is clearly what the article said... They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar. This is clearly 76 cents to 1 IQD...Currently the rate is 1,320 IQD to 1 USD. Looking it at the other way, this is 0.0007575 USD to 1 IQD. If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD. If they drop 2 zeros: 13.2 IQD to 1 USD or 0.07575 USD to 1 IQD. If they drop 3 zeros: 1.32 IQD to 1 USD or .7575 USD to 1 IQD. Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD. [Post 1 of 2...Reposted] Paulette ...What we want to see posted on the CBI website as to how many IQD are required to purchase 1 USD is 1.00 or less. If they post 3.22 IQD to 1 USD, this would mean 31 cents per 1 IQD. We want them to post .31 IQD to 1 USD which is then 3.22 USD to 1 IQD. Realize, they post how many IQD it takes to purchase 1 of another currency. [Post 2 of 2] -
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 I hold millions of dinar and people act like I don't want the $3.22 exchange rate with the current currency, 'No, Pimpy doesn't like it. He doesn't believe in it.' What the hell are you talking about? I own millions of dinars. Nothing would make me more happier than for them to jump up to a $3.22 rate and keep the same bank notes that we got now. Clare Article: "Al-Sistani: The beginning of the month of Ramadan is today, Tuesday”
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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 OPEC+ members agreed to extend voluntary production cuts by 2.2 million barrels per day in the second quarter of the year...Iraq is losing anywhere from $2 to $3 billion a month in OPEC's volunteer program to cut oil production. Militia Man Article: "Economics website: A new application enhances investment movement in Iraq" uote: “...The new index, called (RSISX Total Return), compares currency exchange rate changes and the returns achieved.” It is not surprising they have a new RSISX Total Returns index for currency exchange rate changes. With Al-Sudani's government mention of 1.32 dinars to the dollar yesterday and then today we see that there is talk of smaller denominations. Small enough to make change for 250 notes...Put all that with this new index being launched suggests for me, is that they are ready for change to come and not just in the exchange rate but...as in fils...This is another good sign Iraq is opening up to the world in a big way. Frank26 The banks are not saying as much that it's a scam. If you hear someone that says it's a scam it's probably someone at the very front line. But once you get past them we're finding they have JP Morgan representatives at every Chase Bank it seems like. Perfect timing...Not one bank story has been negative in 8 or 9 days or so...The resistance is getting less and less. The force field is no longer at 10, it's probably at 1 or 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 MarkZ Article: “Iraq’s ruling coalition may call for early elections” The Iranian lined up divisions seem to be afraid of Sudani. But he has about a 78 percent approval rating from the people and has gotten a lot done. But this statement is what they fear the most right now: ”The Iraqi government is currently weighing the question to change the currency so that the official cost of the US dollar will be 1.32 Iraqi dinars instead of 1320.” Implementing such a decision is likely to significantly increase Al Sudani’s popularity. [post 1 of 2] MarkZ What does this mean? It means they don’t need the zeros anymore. This means that each Iraqi dinar would be worth .76 cents. This was right from Iraq’s own paper. And they are “currently weighing this question” I still very much believe we will see a higher rate than that …but let’s say each dinar is worth .76 cents. They may be coming in at .76 and letting it float. We don’t know for sure...I still believe it will be higher... But to see it openly discussed in their news is huge. [post 2 of 2] This all sounds amazing. I hadn't seen the article, but ...Let's hope they pull the trigger.
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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 Q? : If Iraqs rate comes out at .76…Wonder what VND rate will be? Mark: ...that could mean...dong at .36 - .40 cents…we always thought the VND would be 3/4 of the value of the IQD. And I believe those rates are the worst case scenarios. So nobody panic. I still very much think that we could get up to $4 on the dinar…and closer to $2 on the dong... Walkingstick [Iraqi bank friend Aki Update] They had a zoom meeting. It was with the CBI, all other banks and US Treasury, IMF, everybody, they were all in this zoom meeting. They told him a lot but the only important thing...was I was told once again, 'We need you to be back at the bank because at anytime you are going to be very busy.' Aki is just like you and I, sitting there waiting... Frank26 The transitional period is what you're experiencing right now...in the monetary reform. Pimpy Does Iraq have the ability to be similar to what Kuwait has? Of course it does, but they got a long way to go...When I first started talking about the Iraqi dinar, I thought Iraq is going to be just like Kuwait. Until you actually start really digging into it and researching you find out they're nothing alike... Militia Man This is fascinating because this is coming from the Iraqi government today in the same context of Al-Sudani. Article Quote: "The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320. Implementing such a decision is likely to significantly increase Al-Sudani's popularity." You think!? Bring the purchasing power of $0.76 - that's what it equates to...deleting the zeros just like we've been talking about. Frank26 Article: "Coordination Framework seeks early election to curb al-Sudani's growing popularity: analysis" Quote: "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars." Now do you understand why they left it at 1320 even though we suggested that they would take it to 1200 or 1000? Samson Article: "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity" Mnt Goat Article: "THE NEW IRAQI OIL LAW UNDERMINES THE DREAM OF KURDISH INDEPENDENCE" Quote: "On February 21, the Federal Supreme Court ruled that the Iraqi Kurdistan Regional Government must hand over “all oil and non-oil revenues” to Baghdad." This is a solid start to getting the Oil and Gas Law completed and to parliament for a vote. This must be completed to finish a Constitutional requirement to fully implement the new 2005 Iraqi Constitution. This was told to me a decade ago that this is critical to normalizing Iraq. So this is all excellent news for us today...
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Comment: ..I am starting to think this is all bullcrap…please talk me off the cliff. Mark: Were you paying attention yesterday morning? Did you see the article yesterday where they are “OPENLY” talking about changing the rate [Reference MarkZ posts 1 & 2, 3-11-24] …and we know they have formed a committee to educate folks on the repricing because of changing rates. We know its going to happen…it’s the “when” that is still the monkey on our backs…. Mnt Goat This Saturday I had my normal call to my CBI contact in Iraq and was told they too are waiting for the signal to go ahead with the Project to Delete the Zeros. This is the next step. Everything from the Iraqi side has been cleared but the US Treasury has not yet given their assurance of the reinstatement once the process moves to the next step. The CBI now wants this in writing and a formal document stating the approvals. They are waiting for this to come. ...we know that what has been accomplished in the de-dollarization process is hard to undo at that point...So, there is no turning back and they must move ahead.
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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 [Three corners of Arkansas, Oklahoma, Missouri Chase Bank Story] I just walked in. I didn't at first tell them what was going on...I started saying I'm coming into some money, I made a couple investments that look like they're going to pay off. He flat out asked, is this the dinar?...Yes...He stood up at that point and was like, I'll be right back. He goes and gets the JP Morgan guy. FRANK: You are blessed. Not everyone is going to the banks with the JP Morgan reps. If you got one of those there, they'll talk to you. If not, they'll still treat you like an idiot. Interesting, if it's true. Paulette Sistani set...3/12/24 as the first day of Ramadan...Note, IMO, Kuwait Reinstated their currency during Ramadan in 1991...therefore, it appears that it very well can be possible to see Iraq change their currency structure during Ramadan. I like the way Paulette thinks - 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 Clare Article: "Advisor to the Prime Minister: The stability of the exchange rate gives relative stability to gold prices" Quote: "The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the relative stability of gold prices in Iraq due to the value of the dinar... What determines gold prices today are the international gold exchanges, noting that the stability of the official Iraqi dinar exchange rate to the dollar gives relative stability to gold prices.” Nader From The Mid East Article Quote: "The Iraqi government and the Central Bank are dissatisfied with the nature of the US treasury's dealings with Iraqi banks...There is an effort to lift the sanctions..." They need to take off the sanctions on Iraq IQD. MarkZ Question: Are they going to knock it out this week? They need to knock it out this week…. A lot of people are expecting it this week in the banking world…we will see what happens...They may need to, but it's not likely for several reasons..! Sandy Ingram IMF's report on Iraq's economy. This is a critical report dealing with Iraq's...financial future...Iraq could easily be on the path to a higher exchange rate depending on how the country responds to the IMF recommendations...Iraq's non-oil economy is expected to continue to its growth in 2024 after expanding by 6% in 2023. The IMF also reported Iraq's economy is projected to rebound in 2024...Iraq needs more sustainable non-oil growth according to...the IMF mission.
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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: "Do you believe one more move to 1,000 or RI?" It looks like 1310 might be what they were seeking. Maybe a dollar is not enough. Pimpy You can still see Iraq is taking the steps necessary to deal with corruption, update all their systems so they can keep better track of things and continue down the path to joining the international community...Iraq has taken all the steps necessary...It's looking very good for Iraq as long as they stay on this path... MarkZ Comment: ...contacts in Iraq...think it will go between the 10th to the 24th of March. Mark: That’s the general consensus amongst my Iraqi contacts as well…. We will see how it plays out. MarkZ Comment: I think .76 cents is a sucker rate. Mark: I also believe .76 cents would be a sucker rate. Comment: Maybe .76 cents prepares the forex market for what is to come. So $3.50 to $4.25 won’t surprise them? Mark: I agree and it also prepares the people for a different rate. This big a change needs to be prepared for.
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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 JP Morgan I think is going to be extremely important to us...Don't just think that you're going to be limited to Chase and JP Morgan. I used [them as example] only so that it could be of help to you. To guide you. At least you know where you can start. If you don't like them go somewhere else. Militia Man They're not going to...build a country at 1310. The math doesn't work. I don't care how many times people try to figure that out. Think about it for a second...1310 dinars to buy a pencil but if you can buy 100 pencils for one dinar because the dinar is worth $3.00, $4.00 or more. How many pencils can you buy? Think about that in bricks, steel, sewer systems, infrastructure, lighting, military operations, airplanes, guns and weapons, grocery stores at 1310 as opposed to 2, 3, 4 bucks. They specifically bring up and invoke 'previous eras' not me. I just report that... MarkZ Comment: Ramadan now…could be a while. MarkZ: If Kuwait is any kind of example…they don’t mind revaluing in Ramadan...I still think we could RV before April. But, nobody knows the exact timing. Pimpy What is the difference between a mixed economy and a market economy? In a mixed economy the government plays a more active role in regulating and controlling certain aspects of the economy while in a market economy, the government's role is limited to maintaining a level playing field and protecting property rights...We know right now Iraq has a mixed economy...[with] a lot of state ran businesses...
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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 IMO This is an RI not and RV like the other people tell you. The RV was a long time ago...This is an RI. It is to be reinstated. I believe it's trying to reach $3.22 so he can be on par and then float in the basket and gain more value. Pimpy Deleting the zeros off the currency will not change the price on the ISX [Iraqi Stock Exchange]. Changing the exchange rate will have an impact on the ISX. Clare Article: "Central Bank: Inflation in Iraq decreased to 4%" Sandy Ingram Iraq's stock market - A joke to many, a profit for others. Article: "Nasdaq signs New Agreement with Iraq Stock Exchange". This new Iraqi dinar stock market is now electronic and instead of taking three weeks for a transaction to complete it takes only five minutes. Militia Man Everybody realized they have all these income streams. You realize it's not just going to be oil. The non-oil revenues, tourism, agriculture, liquid natural gas, natural resources, all those are going to be part of the future and so that's really powerful. Paulette Community Comment: "...The rate doesn't matter but "freedom of movement of capital" is important. That is Article 8 compliance." They cannot be Article 8 compliant if the country is functioning under a MCP. An MCP [Multiple Currency Practices] includes a parallel rate of greater than 2% of the official rate by IMF definition. Saleh said last year that the parallel rate is "REQUIRED" to be 2% or less of the official rate...This 2% or less needs to be maintained for a period of 90 days. The parallel rate is still around 14% difference. Frank26 Each one has done their job - BOA, Chase, CitiBank, Wells Fargo. They're all in the chain of command now. These banks are being informed of what's going on. I also believe...the ones [banks] inside of Iraq are receiving new machines that have the software for the new lower notes...Chase, they don't need that software because they will not be proving/inspecting it [lower notes] they're just the middle person who sends it to the others. The others at JP [Morgan] have the new technology...machines...software. They are the ones training and practicing 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 Frank26 In November, December we started sending you [to the banks]. You came back with, oh, man they don't know nothing. They say it's a scam. Even the banks you bought the dinars from say it's a scam. Then in January we started to see a different trend. It was more like, just go away. Last month we started to see them talking a little bit more and then toward the end of the month I said to you banks in Iraq can start answering questions of the Iraqi citizens...now you see what's going on. MarkZ Question: So is this the month? Mark: I very much think this could be our month, I do not have a magical ball…but going back to the Simply Linn bank story and remind you that bank manager said he does not know the timing but know it’s soon. And we may know before they do. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani is going to Washington in April about getting controversy of Iraqi allies and Washington.
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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 Paulette Question: "I thought they met all the requirements [to join the WTO]?" All the articles say they have legislation that needs to be passed and the next meeting is in the "middle of the year. Frank26 In my opinion the Iraqi dinar is going through an internal float...Something is going on. Sandy Ingram Vietnam Dong (VND): The reason for such a low rate is the transition from a centralized economy to a market-based one...We learned [Vietnam had] over 3 million international arrivals in the first 2 months of 2024, an increase of 68.7% year-on-year according to data released by The General Statistics Office.
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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 Does Iraq have the potential to have a more valuable currency than Kuwait? Yeah absolutely...They have way more resources. As a matter of fact...Iraq is in the top 5 worldwide for the most resources. So, yeah, they have the potential to be there. There just not there yet...They have a lot more things to export than Kuwait does but they have to get past these hurdles. I think they will. Militia Man They're not stopping. We don't have a date and rate but we can see the progress is before us...They're gearing to move Iraq to the private sector and to open up to the world...There's going to be money to be made and there's going to be a lot of it... Samson Article: "Iraq is the fourth in the Arab world and the 30th in the world in the reserves of Yellow Resonant" [Gold]
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Saturday Early-Afternoon Opinions @ 2:50 PM CDT - 3/09/2024
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 Pimpy We're staying grounded...about the possibility of getting a huge payday. Remember it's only a possibility, just like there's a possibility they could re-denominate before they change the exchange rate...Re-denomination has nothing to do with the exchange rate. We want the exchange rate to change, not the Iraqi currency to delete the zeros. We don't want that to happen...Stop rooting for the deletion of the zeros. You don't want that to happen. MarkZ Bank Story via Simply Linn: In a nutshell - a guy (Already sounds made-up) goes to a chase bank and they know nothing…. He goes to another and sits down with a personal banker who asked him what assets he had… and the guy says he has foreign currency…dinar and dong…they bring in a wealth manager… Whose eyes light up and the wealth manager shared some serious details about exchanging and the QFS...they suggested to him to exchange out of his area for anonymity and security and to avoid local tellers talking about his exchange. [Post 1 of 2] Everyone has to have a bank story now - Frankie really started something. MarkZ Simply Linn: I thought this was brilliant, and I plan on doing that as well. Not exchanging in my town. Anonymity is a good thing to have. He also mentioned our funds go into special accounts...When the man asked if it was the QFS - the lady (I suppose she was the wealth manager) smiled and nodded and said it was account that no one else can see it…even tellers will not be able to see it. Very safe. ...they also said they do now know “when” but know it’s coming soon and they have been preparing for it and equipped to exchange it right in front of your eyes…and there will be armed guards while you do the exchange. This was a fantastic bank story. [Post 2 of 2] -
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 IMO They've already deleted the three zeros from the exchange rate. IMO that exchange rate came from the RV phase of the monetary reform that was accepted in Washington DC and all these other banks. That's why Sudani has thousands and thousands of contracts all waiting for the new exchange rate. What in the world did Frank base that ridiculous statement 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 Frank26 [Indiana Chase Bank Story] A nice guy sat down with us asked us questions about opening accounts...In the process of that being done...He asked me a simple question how much are you planning on putting in here? I told him it was going to be a sizable amount. He said, give me a figure. I said 7 figures at least... He looks at me and says, dinar? ...I said absolutely. He said he had a meeting yesterday...It wasn't long after that a nice looking young man...shook my hand and said Hi, my name is so and so and I'm with JP Morgan. FRANK: Oh my word, you're the 5th one that's told me this. It seems like they're bringing in JP Morgan representatives inside of Chase Banks. That what I'm noticing. BANK STORY MAN: This guy from JP Morgan he says...we've been waiting for this a long time haven't we... FRANK: This is exciting what's going on...I often wonder if Frank makes up these stories. Pimpy People are pissed at me because I'm telling them of the possibility they should at least be aware of...What I'm talking to people about are the possibilities in the directions the IQD can go. I'm not saying it's one way or the other. I'm just saying these are the possibilities...These are just possibilities, we don't know. We can wake up tomorrow and the exchange rate is now $3.22...they have not...redenominated [LOP]. Then everybody is happy... Militia Man Article: "We will soon announce Iraq accession to the World Trade Organization" They haven't quite said it yet but they're saying it. Isn't that telling? Sandy Ingram On Monday of this week the president of Iraq Adbul Latif Jamal Rashid, met with the special representative of the Secretary General of the United Nations in Iraq, Jeanine Hennis-Plasschaert. In that meeting the President of Iraq...stated Iraq is keen to work with international organizations to confront challenges in the field of environment, climate, health, and education in a way that ensures a decent living for Iraqis. It is our hope as investors that a 'decent living' means an increase in the value of the currency. Clare Article: "Iraq completes requirements to join WTO” ALL REQUIREMENTS HAVE BEEN MET FOR THE WTO ACCESSION... IT CAN HAPPEN ANY TIME, DON'T LET THEM FOOL YOU. Pimpy If you want to see an increase in the value of the Iraq dinar then there are things that need to happen in Iraq in order for the dinar to increase in value. One of them is they have to have a stable and robust economy. Then there are things Iraq need to do that continues to support, stabilize and strengthen the Iraqi dinar. One of those big steps is joining the World Trade Organization... Frank26 A lot of you are asking me, 'Do you think they'll do this new exchange rate during Ramadan?' I would prefer before or after Ramadan, not during. Ramadan is a holy time. You don't go around celebrating that you go purchasing power. No. You go around worshiping and honoring God. Paulette Question: "When is Iraq supposed to be in the WTO?" Not before they pass needed legislation, eliminate the MCP [Multiple Currency Practices] and are recognized as having accepted IMF Article 8 obligations. Accession Committee next meeting with Iraq is planned for the "middle of the 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 Ministerial Council of Economics... Ministry of Planning, Industry, Trade, Central Bank of Iraq, Prime Minister, Deputy Prime Minister, advisers, all of those folks that are involved...have been knocking it out of the park themselves and showing why they are bringing Iraq to be the financial savior...The world expectations are Iraq is going to be a key component into the global financial system...When they say it's imminent that's a broadcast to the world... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Saleh is on television talking about Iraq's financial situation. He said...we have enough reserves to back a stable exchange rate... FRANK: That's the reinstatement of your currency. That's going to be the float eventually too. FIREFLY: ...He says we are capably of many other things besides oil, our country is powerful, growing and the world knows it. FRANK: Have you noticed the only topic in Iraq is about the exchange rate of a new currency that is coming to you?
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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 Community Comment "...The IQDs are oil credits. Our currency will go to the banks and then then the Untied States Treasury. The US will use the currency to trade with Iraq for oil or other commodities." ...No it's not an oil credit, it's just a currency. I've heard that rumor before. It's just a normal currency Iraq has. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Economic experts on television saying Iraq has a lofty exchange rate to uncover... FRANK: Do you understand the word lofty? ...The word lofty means at its highest, at a pinnacle. They are telling you they have an exchange rate they are about to give you that will be lofty for your currency and for you...that is the opposite of a program rate... Militia Man Financing a country to rebuild at 1310 is not going to happen. There's not enough money...90 trillion dinar divided by 1310 is somewhere around $68 billion. Building a country with all its components with that value is probably not going to happen...Can you imagine how much it's going to cost at 1310 to build 15 industrial cities? 3 to 4 million houses, infrastructure, roads, sewer systems, water systems, their military all those things on $68 billion? I shake my head. An excellent point MM..!
