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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 Sudani's GOI continues working, and I believe will pass the Budget in December...It then goes to Parliament who will likely read it after reconvening approximately 1/07/23...This will be the "1st Reading"...It will then go to Parliament's Finance Committee for "study and observations"...this often can take 30 days or more...Parliament then does the "2nd Reading" ...changes may have to be made which legally requires it go back to Sudani and his GOI to make changes...Upon return to Parliament, if all is agreed by Parliament, it can go for third reading and vote which is usually done "line item by line item" Pimpy When it comes to Iraq we're always taking one step forward and three steps back...There's problems with the currency auctions...they just can't seem to get it together...the Federal Reserve has been auditing the currency sales...and they're not liking what they see. Some of the biggest issues that foreign investors and the International community had with Iraq - Money laundering and financing of terrorists...at least they're catching these things...working with the United States to fix the issues... Frank26 The CBI is having explosive meetings right now with many countries and entities in preparation of [Iraq's] budget and new exchange rate...the word 'mechanism' is being used to cover the new exchange rate in the budget...keep looking for that word because the governor of the CBI will be using it a lot from now on... Mark Article: From Iraq: “The democrat announces the formation of a committee titled (Article 40)” The Kurdistan democratic party announced today a committee to legislate the Oil and Gas Law. We were told a week or so ago that they had agreed to the framework…and this is it. It is now official and announced in Kurdistan. Long ago we were told that article 140 was one of the last stumbling blocks for revaluing the Iraqi currency and they have now worked out the differences with the Kurdistan region including profit sharing, taxes, revenues ect…For those of us that have been following this a long time…this is very 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 Nader From The Mid East The CBI or the government... didn't make a decision yet to support [the dinar] with anything. It's detached from the dollars but not completely. It should be detached by the end of this week or next week the beginning...the government have to support it with whatever they have reserve, gold...put if back on petroleum dinars...they have to attached it to something else. It's going to take a couple of weeks. [Post 1 of 2] Frank26 Article: "Al-Sudani and the International Monetary are discussing reforming the Iraqi banking system and efforts to combat corruption". THERE IS NO REASON TO REFORM IRAQ'S BANKS UNLESS YOU ARE REFORMING THE MONETARY REFORM... THAT'S WHY THE IMF MEETS WITH THE CBI DAILY..! Sunkissed Article: "Al-Sudani meets Al-Sisi and affirms Iraq's keenness to maintain relations with its Arab and regional milieu:" How can a country be a pioneer when they’re dependent upon another country’s currency because their currency is worthless? We all know that would be ridiculous! ...Iraq is telling us exactly what they are doing here. Getting investment promises so that the moment they go article 8, these agreements go live so the international monetary process succeeds! This article should give everyone the assurance that Iraq is serious and on the threshold to ACTIVATE everything they have put in place and set in motion.
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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 Mark Article: “Saudi Arabia gathers China’s Xi with Arab leaders in” new era” of ties “ One of those Arab leaders is from Iraq. Iraq is very well represented there for the first time in years. They are making their presence known in politics on the world stage. They cannot be on the world stage without a world recognized currency...it is important to notice these things….it shows you Iraq is heading this direction quickly and the nations around them are excepting that fact.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark... RON Sandy Ingram Article: "The Governor of the Central Bank of Iraq receives the IMF mission." The governor of the CBI met with the International Monetary Fund Minister of Finance...we know the IMF needs to sign off on financial recommendations for Iraq, meaning the IMF would need to approve or disapprove major financial issues pertaining to Iraq... Pimpy The lower the amount of dinars for every dollar the better for us. We want to go all the way to the point where you get more US dollars for every one dinar. That's the direction we want to go in. Frank26 Article: "The Governor of the Central Bank of Iraq receives the mission of the International Monetary Fund" THE CBI IS HAVING HOT MEETINGS RIGHT NOW WITH... EVERYONE! AND THESE MEETINGS WILL SOON EXPLODE WITH MORE INFORMATION TO THE CITIZENS ON THE 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... Especially if it comes from Mark... RON Clare Article: "In numbers... a new government comment on the draft budget law 2023" Quote “the delay came due to the delay in forming the current government and its approval of a new ministerial curriculum and development principles that take priorities, which requires longer time to prepare and present the 2023 budget.” Mark Articles in Iraq out today and excuses as to why they don’t have the 2023 budget done. But that they will tackle it the moment parliament gets back from recess. A tidbit from an article is they are no longer in bankruptcy so they can absolutely RV now. Once again though the CBI does not need the budget in order to change the value. Henig Article: "The Civil Aviation Authority issues an important decision regarding the vaccination certificate" Quote: “Based on the instructions issued by the Ministry of Health regarding the procedures of the Covid-19 pandemic, we advise all travelers and airlines operating in Iraqi airports not to ask arrivals or departures (Iraqis and foreigners). With a Covid-19 vaccination certificate..."
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark... RON Clare: Article: "Iraq.. The dollar continues to exceed the threshold of 1,500 dinars" Quote: "The selling price of the dollar was 150,200 dinars per 100 dollars, while the buying price of the dollar was 150,100 dinars per 100 dollars." Mark [Member: latest update from a banker is he has no specific date he is confident we will be exchanging before Christmas.] That is what we are all hearing…we are being told that everything is great …things are moving and we should be exchanging well within the month of December. Pimpy Article: "The dollar is approaching 151,000 dinars on the Baghdad Stock Exchange" It [the dinar rate] is going in the wrong direction. We need it to go in the other direction. Something is causing the Iraqi dinar to lose its value against the U.S. dollar...This obviously is a concern of the government. It is a concern of the banking industry.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark... RON Frank26 This is very important. The CBI said on Monday, 'We have started the process of lowing gradually the exchange rate of the Iraqi dinar against the American dollar.' You know what that is? Preparing to float. You know what that is also? ...it's a reinstatement process that allows them to reinstate their currency. Mark [Q? : Did Iraq pass its budget today?] I heard they did not…it would have delayed their legislation recess. So it looks like it won’t be passed until January. But, that does not mean they won't Rv. In fact it may be a better time to do it while parliament is not there. 2 ministers today said they could call an emergency session if the CBI did not move forward with a rate change. Walkingstick The CBI is having hot meetings with everyone, every three-letter agency you can think of along with every country...I have never seen meetings like these before. They're extremely hot. Extremely volatile...normally these meeting just go on to the next, to the next, to the next, but every meeting is accomplishing something... Sandy Ingram [Follow up to her 12-7-2022 exchange in Iraq post] Let me clarify...the need to travel for the revalue would only come "if" Iraq prints new money or goes digital with restrictions on the exchange. If Iraq prints new money they could do what Kuwait did and restrict where you can exchange the old currency, which we are holding, for the new 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... Especially if it comes from Mark... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani told us the U.S. Treasury says that our currency is off the high risk bank list and then he went on about how good the Iraq's banking sector has done with International instructions and guidelines and laws and rules. We've never seen this CBI and the US treasury talk like this... FRANK: The United States Treasury did everything they could to help the CBI have a new exchange rate...The U.S Treasury is making sure the CBI is linked up internationally with every bank in the world and not for a program rate... Clare Article: "Al-Maliki makes the approval of the oil and gas law conditional on this matter" THAT IS NOT NURI AL-MALIKI ..... IT IS A DIFFERENT GUY SAME LAST NAME Mark Not a nothing burger today…but not nearly the news I was hoping for overnight last night. Article: “Budget Law absent from Iraqi Parliament for 30 days'" This is playing out as we speak today. I am being told from some contacts on the ground that they are hoping to extend the parliamentary session through the 9th or 11th of December to get the budget squared away first. …but it is supposed to end tomorrow as parliament goes away for a 30 day recess. This is normal for the holidays. Kaperoni ...This [auction] action by the CBI will not only help the citizens but it will help them with the IMF to meet compliance. Further liberalization also helps encourage investment in Iraq . The real reason why they're doing it though is to try to get the exchange rate back in line with the 2% spread limits the IMF has imposed. The current exchange rate in the market is around 1490 which is on the cusp of exceeding that limit making them out of compliance. Frank26 [Iraq boots-on-the-ground report] FIREFLY: The Prime Minister came out and says we're going to have foreign currency in our market. FRANK: Yes, because you're going international.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark... RON ** Mark Pressure continues in Iraq as we see more and more local politicians join ranks. We now have well over 100 parliament members and leaders that are pushing for the CBI to make the decision and make it now…before the holidays. The push because of inflation and the market crunch in Iraq is to do it before the holiday season which is beginning within days over there. Yes it is in the hands of the CBI…parliament is really pushing them to release it before the holidays…and are willing to replace the leader or minister of the CBI in order to do it, if that is what it takes…. It is a open conversation over there. I spoke with some contacts on the ground …and they are hearing this as well. Mark always has contacts to speak with to support his statements or theories...LOL..! ** Pimpy I'm not saying it's not going to change come this budget, mostly likely it won't because the Central Bank said this is the rate it's going to be for the next 5 years. We are now 2 1/2 years into that 5 years. We'll wee what happens when this budget comes out... ** Frank26 The Paris Club agreement...paid off 80% of Iraq's debt to the world, then Iraq agreed to re-institute at a 1 to 1 rate at least...they're simply waiting, the Paris Club, for this announcement. The CBI says they want the rest of the money the Paris Club is holding. Iraq IMO tried to pull a fast one but the Paris Club said, nope! No recovered fund returned to you until you change your exchange rate in order to cover the rest of your debts. Actually, it's not to cover the rest of the debts (they were forgiven), but to allow the Paris Club countries to cash in the IQD they received as a result of forgiving the war debt. RON ** Mnt Goat One could almost say the news is once again just all about the currency. The pressure builds for the CBI to act now. Over 100 of the parliamentary members claim they will not even attend parliament sessions to vote on the new budget unless this issue is addressed in the budget. ...These are exciting times and personally I can’t see the CBI holding back this reinstatement much longer…. ** Mark [Q? : Are we anticipating the dinar rate change this week?] We are anticipating an announcement thereof and possibly a lower sucker rate. This is before the actual RV - The sucker rate is to get many to give up, and cash in at the lower rates and then go away.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark... RON Sandy Ingram So what would they [Iraq] need to do in order to...increase the value of their currency? One thing they could do would be to create a new currency like Kuwait did and provide a window of time when people could exchange the old Iraqi dinars for the new currency or they could go digital. But where does either of these options leave us as investors? ...Get a valid passport...there are ways you and I will be able to fly into the Middle East..we need to prepare for this option now... Mark Pressure continues in Iraq as we see more and more local politicians join ranks. We now have well over 100 parliament members and leaders that are pushing for the CBI to make the decision and make it now…before the holidays. The push because of inflation and the market crunch in Iraq is to do it before the holiday season which is beginning within days over there. Yes it is in the hands of the CBI…parliament is really pushing them to release it before the holidays…and are willing to replace the leader or minister of the CBI in order to do it if that is what it takes…. It is a open conversation over there. I spoke with some contacts on the ground …and they are hearing this as well. Pimpy I'm not saying it's not going to change come this budget, mostly likely it won't because the Central Bank said this is the rate it's going to be for the next 5 years. We are now 2 1/2 years into that 5 years. We'll wee what happens when this budget comes out... Frank26 The Paris Club agreement...paid off 80% of Iraq's debt to the world, then Iraq agreed to re-institute at a 1 to 1 rate at least...they're simply waiting, the Paris Club, for this announcement. The CBI says they want the rest of the money the Paris Club is holding. Iraq IMO tried to pull a fast one but the Paris Club said, nope! No recovered fund returned to you until you change your exchange rate in order to cover the rest of your debts. Not exactly Frankie, Actually there is NO rest of the debts (they were forgiven), but rather the Paris Club countries want to cash in the IQD they received when they cancelled the Iraqi war debt. (it's been said the US received almost 4 trillion IQD). RON Mnt Goat One could almost say the news is once again just all about the currency. The pressure builds for the CBI to act now. Over 100 of the parliamentary members claim they will not even attend parliament sessions to vote on the new budget unless this issue is addressed in the budget. ...These are exciting times and personally I can’t see the CBI holding back this reinstatement much longer…. Mark [Q? : Are we anticipating the dinar rate change this week?] We are anticipating an announcement thereof and possibly a lower sucker rate. This is before the actual RV. The sucker rate is to get many to give up, and cash in at the lower rates, and then go away.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark... RON ** Frank26 A change in the exchange rate...you want to see that number [1460] get smaller and smaller as it gets closer to a 1 to 1 rate. This is a gradual reduction and ladies and gentlemen they're telling you in the article that this has started today... ** Mark ...There are a number of politicians discussing where they should go on the rate. I also have a finance ministry contact mention that a higher NEER rate was tossed about today in some of their circles. In other words instead of going with the rate of 1162 and floating…it would start exponentially higher at the NEER rate of $1.60. They are also going back and forth with the pre-Sadaam Hussein rate of about $3.22. We don’t yet know what they will do. [post 1 of 2] ** Mark I hear the most likely scenario continues to be the full revaluation or reinstatement, but they will continue to throw the other lower rates out there to keep us guessing…it is part of the game. We saw this in Kuwait as well before they revalued…also in China. This has happened throughout history. It is very exciting for me to see us this close to the finish line. [post 2 of 2] ** Militia Man Article: "Baghdad & Kurdistan Region at the table of Constitutional Entitlements" The looks of things here are seriously on fire. They talk about budget and in detail, they went over the file with respect to key points that needed clarifications or reorganization, etc...IMO... Timing is ablaze with urgency.. ** Kaperoni ...The Central Bank announced they're going to liberalize the foreign exchange. Meaning they're going to spend more dollars in the auction. This of course has impact on the dinar exchange rate... the reality is all they're going to do is put it closer back to the rate it was a year ago around 1170 to $1... ** Frank26 Article: "The Iraqi Parliament completes the cabinet of the Sudanese government by granting confidence to two ministers" ARTICLE 140 = HCL, HCL = ARTICLE 8, ARTICLE 8 = THE BUDGET = THE MONETARY REFORM = A COMPLETED & SEATED GOV OF IRAQ... THE FOUNDATION OF THE MONETARY REFORM ** Mark As for the rumors - I have received a number of reach outs this morning…about a thousand or ten times improvement in Iraqi currency rates. They are saying this is the talk on the street that this is the starting point. I still think they will all go at once, but am prepared if Iraq does go slower. It looks like the overwhelming majority of people that hold it are going to make somewhere around 4 times or 10 times on their investment already. This is huge but not yet what we are looking for. They still want to restore their old rate pre-Kuwaiti invasion rate. ($3.22?) [NOTE: As of now the official CBI rate has not changed.] ** Nader From The Mid East They [the CBI] didn't say how much. They [the CBI] just said to the old numbers and then it's gonna go down gradually...that's good news. I'm happy about that. It will help me out a lot actually if it goes down to 1160. There's a new decision has been made...from here to maybe next week or the week later you're gonna see changes. Maybe this week we don't know. So get ready for it. ** Pimpy There is a lot of talk once again about the change in the exchange rate. I think some people are misinterpreting what they're reading... Article: "Government official: Dollar exchange rate will fall and its impact in a week" ...they're talking about controlling the actual market itself...they are going to do what they can to make sure they maintain a specific rate...Be careful with all the rumors...talking about the exchange rate going to happen. You got to hear directly from the Central Bank and no one else.
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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 Paris committee told them recently (a few days ago) that Iraq you have to honor our agreement...you have to change your exchange rate in the positive because the Paris Club is still holding some of Iraq's stolen funds...Remember 80% of Iraq's debt has been paid off through the Paris Accord Agreement...In order for Iraq to finish retrieving their stolen funds...they need to comply and change their exchange rate and go international.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark ... RON ** CandyKisses Article: "Parliamentary: Discussions and Dialogues to Review the Dollar Exchange Rate" Quote: "MP Najwa Hamid confirmed the House's move towards reconsidering the dollar exchange rate. Hamid told Mawazine News that "there are discussions and dialogues between members of the House of Representatives, and the Finance Committee specifically to reconsider the dollar exchange rate, and we believe that an appropriate price will be maintained." All they can do is recommend a rate change - only the CBI can make a new exchange rate.RON ** Nader From The Mid East The decision this morning has been made to change the exchange rate. They actually said to the old one...we don' know if it's the 1160...then they said it's gonna go down slowly...the decision is made...maybe a couple weeks maximum you're gonna see some changes. So get ready for it. ** Mark ... Warren Buffet put millions into the Iraqi Dinar. Many of the greatest financial minds have invested in the Iraqi dinar. The revaluation is a “when” not an “if”. You can doubt the timing…but, do not doubt it will be very lucrative at some point. This is the first I've ever heard that Warren Buffet invested in the IQD..!
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark ... RON ** Pimpy When it comes to this new government in Iraq it is moving quickly and I mean very quickly. Not just locally but internationally... ** Mark The big talk today was “What is that rate going to be?” We do not know 100% for certain. All we know is it’s about to change. [Comment: I think it will start as a trickle and turn into a flood! ] I agree that this trickle will soon turn into a flood. ...we have not seen any change in rates…yet...I am still being told to expect the contract rate and a full RV.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it comes from Mark ... RON *** Militia Man Article: "In the document. The central bank decides to increase the weekly share of dollar sales" Are they about to make a big move? *** Frank26 Article: "Starting tomorrow... the Central Bank of Iraq is moving to reduce the price of the dollar (document)" THE CBI SAID THERE WILL BE GRADUAL DECREASES TO THE DOLLAR EXCHANGE RATE. *** Clare Article: "Starting tomorrow... the Central Bank of Iraq is moving to reduce the price of the dollar (document)" Quote: "The Central Bank of Iraq decided, on Sunday, to increase the weekly sales of the US dollar in the currency auction, in an attempt to restore the exchange rate to its previous state." Keep Praying Everyone, that it's substantial..! RON- 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... Especially if it comes from Mark ... RON ** Frank26 [Iraq boots-on-the-ground report] FIREFLY: If it floats is it going to go up really fast? And when is the best time for us to go in and exchange? FRANK: As far as when you exchange...that is a personal decision. You have to make that decision. At what rate you feel is good enough for you. 1 to 1, 1 to 2, 1 to 3 etc. You've got to know when to hold'm and know when to exchange'em. ** tlm724 Article: "Association Of Banks: Central Bank Measures Will Return Dollar Prices To Their Rates Quickly" Quote: "those who criticize the central bank must be aware that its measures announced yesterday by increasing the supply of dollars through its approved outlets and banks will inevitably lead to the return of the price to its target rates inevitably and quickly." ** Mark I am being told (told by whom) it is looking to start the float around 1160+ …and the rate will be looked at each day. This is massive progress coming out of Iraq. This makes sense as to whats best for the Iraqi people. This is a slow grind to the top and I am told it will not affect our contract rate as it is based on the “Oil for Dinar” contracts. So even if the rate takes awhile to get to where we want it…it has now started. They have now announced that it has started. There is no more “Waiting for this to go”...Expect the float to go fast. I am very excited about the news out of Iraq. [Q? : So its possible we could go to the banks this week?] it could be. We will have to wait and see. If the float rate kicks in Tues or Wed…we could see that rate start to run…very quickly. ** Walkingstick [Walkingstick's Iraqi Bank partner/friend update] BANK FRIEND: It is no secret to any Iraqi citizen at all. Any Iraqi citizen can come into our banks in Iraq or when we open our private banks and they will be able to see the training of the tellers...they see the new counting and sorting machines we have on our counters. They know they are not for the dinar they are using right now. It is for a currency that is new...they know the new ATM machines inside our banks and in the streets are still offline. It is not secret. ** Clare Article: "Government official: The exchange rate of the dollar will decrease and its impact will be after a week" Quote: "A government official confirmed, on Monday, that the exchange rates of the US dollar against the Iraqi dinar will decrease with the Central Bank's decision to increase the weekly share of banks, exchange and mediation companies, pointing out that the decline will have an impact next week. ** Mark ...I think its economic brilliance coming out of Iraq. From Iraq: ??…we have a rate. We do not have a fixed rate…we literally have a floating rate now. And based on the market at the end of each day now...A measured approach so they can soak yet more dinar off the streets before their bigger revaluation. I am very excited about it. They are going to allow the market to set the rate each day…This is enormous news. You should be like jumping out of your boots over this one.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it's from Mark... RON ** Frank26 [ Iraq boots-on-the-ground report] FIREFLY: All the main banks in Iraq are saying they are keeping up with modern technology and...lined up with International standards and acceptance proceedings. FRANK: Holy cow..! ** Pimpy History: What happened between Kuwait and Iraq? August 2, 1990 Iraq invaded Kuwait. They occupied the country around October of 1990. Saddam Hussein told the people in Kuwait they had until October 3rd to exchange their Kuwaiti dinars for the Iraqi dinars. After that the Kuwait dinars wouldn't have any value...Both currencies immediately were devalued. Kuwait's dinar was devalued to protect it from being stolen and sold on the black market. Iraqi dinars were devalued because of the invasion. [Post 1 of 2....REPOSTED] ** Pimpy The Iraqi dinar at the time was worth $3.22...Kuwait dinar...$3.45...internationally the currencies were not usable. Central banks refused to acknowledge the currency and therefore it had no value. The U.S. liberated Kuwait February 28, 1991 and shortly after Kuwait redenominated their currency. So it's not so much the currency was revalued as much as it was re-denominated, which is different...I'm anticipating [Iraq] is going to do the same thing Kuwait did...you'll be able to exchange your old dinars for the new dinars and they'll just reinstate the rate. [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 [Iraq boots-on-the-ground report] FIREFLY: The TV is talking all the gold they now have. They're tying it in with the Monetary Reform. FRANK: Yes, they have told you in the past that you have a tremendous amount of gold to back up your reserves for your currency but you also have so much untapped reserve potential in the ground...Iraq is extremely rich...you will become a Mecca in the east. ** Pimpy There's some interesting developments involving the exchange rate. I was impressed when Al-Kazemi was prime minister but I'm super impressed so far by the speed in which Al-Sudani is moving... ** Kaperoni People always wonder why Iraq can't significantly RV the Iraqi dinar and often compare it to other Middle East countries. The difference is Iraq has over 83 trillion dinar in circulation compared to between 40 to 80 billion dinar and many other Arab states.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it's from Mark... RON ** Sandy Ingram The money auctions that happen in Iraq daily...Iraq has an account with the Federal Reserve Bank in New York which draws down money on Iraq's oil reserves. Pallets of hundred dollar bills are flown into Baghdad where the Central Bank of Iraq takes possession...The CBI then sells these dollars in daily auctions to Iraqi Bank and money transferring firms in exchange for Iraqi dinars. [Post 1 of 2] ** Sandy Ingram What I want you to focus on is the Central Bank of Iraq collects Iraqi dinars left and right every day in the auctions. Never ever forget this fact. What is the CBI doing with all the Iraqi dinars? ...the Iraqi [central] bank is collecting millions of Iraq dinar daily...they are making their money scarce. [Post 2 of 2] ** Frank26 They're gonna have a 1, 5, 10, 20, 50 and a 100. How are they going to get those? Well the 5,000 they lift the 3-zeros and it's a 5. The 10,000 they lift the 3-zeros and it's a ten...they're printing a 20,000 note...remove the 3-zeros we go the 20. They're well prepared. They have things well calculated. ** Militia Man Article: "A deputy reveals the developments of the budget and calls for it to be sent before this day" Quote: "revealed the latest developments in approving the general budget, calling on the government to send it to the House of Representatives before the sixth day of this month...If the government succeeds in sending the general budget to the House of Representatives, the latter will continue to hold sessions until it is approved without going to the legislative recess." There are no coincidences to the on goings. The are pointing to a key date. 12/06/2022. ** Samson Article: "The House of Representatives adjourns its session to next Monday" CABINET is SEATED...
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it's from Mark... RON ** Mnt Goat Welcome to the month of December! This is a very critical month for us investors in the IQD for if we are going to see any action by the CBI to reinstate the dinar anytime in January 2023. We must begin to hear news from them over the change out of the paper currency in circulation to the lower denominations to accommodate the new rate which they call the “project to delete the zeros”, which we all hope will be finally out of the program rate and to a much higher once on FOREX. Yes, a rate reflecting the true VALUE of the IQD, a rate we are all looking for. ** RVAlready Article: "The Iraqi Parliament completes the cabinet of the Sudanese government by granting confidence to two ministers" Now, we just need a surprise announcement from the CBI. ** Clare Article: "The Central Reserve exceeded $90 billion, and revealed the date for offering the 20,000 class" Quote "the value of the Iraqi currency or the balance exceeded 160%, as the value of the Iraqi dinar amounted to more than one and a half dinars...He expected, The 20,000 dinars coin will be offered at the end of next year 2023." ** Mark [Q? : Is the NEER (Nominal Effective Exchange Rate) rate possible $1.60…or full RV? ($3+) ] The Neer rate is always possible…But, I am looking for the full RV or a reinstatement rate...The reinstatement rate would be around $3.20 something...unless they factor in inflation would make it considerably higher...
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it's from Mark... RON *** Dinar News Flash *** Early reports indicate the Iraqi parliament has vote for the final 2 Minister seats. This would mean Prime Minister Sudani's goverment is complete and has the confidence of parlimanent. Many gurus have been looking for this to signal a 'stable Iraqi government'. ** Pimpy History: What happened between Kuwait and Iraq? August 2, 1990 Iraq invaded Kuwait. They occupied the country around October of 1990. Saddam Hussein told the people in Kuwait they had until October 3rd to exchange their Kuwaiti dinars for the Iraqi dinars. After that the Kuwait dinars wouldn't have any value...Both currencies immediately were devalued. Kuwait's dinar was devalued to protect it from being stolen and sold on the black market. Iraqi dinars were devalued because of the invasion. [Post 1 of 2....stay tuned] ** Frank26 Notice how they constantly talk about the exchange rate. I don't care if they deny it or once again repeat it. None of this is important...The most important thing is that they are talking about it and doing it. That is a pattern not to be ignored. Like I told you 2 weeks ago the CBI would be talking a lot from now on and they are aren't they... ** Mark Great News out of the sandbox... The Iraqi cabinet is nearly completely seated now. 2 key seatings have just occurred. It appears the entire cabinet will be done before the sun sets today...Now we just need "the" news we are looking for... There is a lot of speculation out there that we should then see our RV within a few days of the completion of this cabinet. At least that is the chatter. I do believe the CBI had been waiting to make sure the government of Iraq has their ducks in a row before they change that rate. The CBI is firmly in charge of changing the rate in Iraq. So to me the news is pretty exciting coming out of Iraq. We are seeing it all come together. ** Walkingstick [Walkingstick's Iraqi Bank partner/friend update] Iraqi BANK FRIEND: When they announce the government of Iraq is finally seated the new budget will be introduced to parliament...The budget is a number of laws within a law. It is at that time that they will expose the laws. These laws will be read upon the receiving the budget to parliament. The reading of the budget laws by line item...will reveal the exchange rate. ** Clare Article: "The Iraqi Parliament completes the cabinet of the Sudanese government by granting confidence to two ministers" Quote "the Media Department of the House of Representatives stated that an absolute majority voted to grant confidence to the two ministers, and thus the ministerial cabinet of the current federal government headed by Prime Minister Mohamed Shia Al-Sudani has been completed." ** UncleVersi Article:"In the document Al-Sudani presents candidates for the presidency of the House of Representatives for the two vacant ministries in his government" Quote "The Presidency of the Council decided to vote on the candidates in a session on Saturday."
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it's from Mark... RON ** Frank26 Article: "Al-Salhi Announces The Date Of Raising The Budget To The House Of Representatives And Voting On It" THEY SAY BUDGET BY TUESDAY... MISSED THE 5TH BY 1 DAY. ** Kaperoni Parliament will complete the cabinet this weekend, and then they can RV the dinar. Not going to happen. That's not how monetary policy works. ** Pimpy Every time I read the news...it's not like I'm standing around clapping, going 'oh, good I gotta wait even longer to see any kind of real change in the exchange rate.'...it's to the point now where I cannot picture them [Iraq] moving forward with the same currency knowing that there's that much out there in the hands of some corrupt people. Maybe the international community won't care. I doubt it...Most likely what's going to happen is they're going to have to issue new currencies making the stolen currency obsolete... ** Frank26 Article: "Parliament announces the agenda for the next Saturday session (completion of the ministerial cabinet)". A GOVERNMENT BY NEXT SATURDAY... THEN THE BUDGET, AND ALL THE LINE ITEMS REVEALED. ** Militia Man ...We saw meetings with the International Monetary Fund (IMF), Central Bank of Iraq (CBI). Finance Ministry of Iraq (FM), Federal Audit Bureau (FAB), etc...They have the 2003 Budget in the news today too...That meeting with the IMF had auditors at the Federal level... Then we see them talk today about the budget draft to be voted on in the late hours prior to 12/08/022 with the Parliament...the data necessary for a rate change is likely upon us sooner than later. ** Mark its exceptionally quiet right now on the RV front…even out of Iraq…There is nothing negative. Everyone is still very upbeat...It could be at anytime…we do not know the timing…No sh-t sherlock - more BS just to hear himself talk. ** BeeDeeDub [Follow up #2 to Guru Frank26 Wells Fargo Bank post 11-30-2022]. I just called the Wells Fargo foreign exchange Thursday, December 1, 2022 at 11:27AM EST. When I called last night, I called (apparently) after business hours at 7:45PM EST...I asked if I had the Foreign Exchange people, and she said "Yes". I told her I had some foreign currency which I might like to exchange for U.S. Dollars. She asked which currency, and I told her the Iraqi Dinar. She explicitly stated "No, I'm sorry, we don't handle the Iraqi dinar. We do not exchange that particular currency." So there you have it. I got the exact same message from a LIVE PERSON as I had received last night from a recorded message. ** Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friend at the bank thinks if Iraq gets this budget approved in December that no doubt you will see a rate change in January. He's saying it's just his opinion. FRANK: Yes the budget draft law will open the reforms...
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... RON ** Frank26 [Iraq boots-on-the-ground report] FIREFLY: The CBI governor comes out and gives a statement on how it's illegal for him to discuss or even predict anything related to a rate change. He went on a rant. He talked like 5 minutes. FRANK: Isn't this something! ...the governor comes out and says according to our constitution and our laws I can't tell you we're going to raise the value... FIREFlY: Why even do this if something not about to happen. ** Pimpy Article: "Central Bank of Euphrates News: No denomination will be withdrawn from the Iraqi currency, and the 20,000 is in the process of being designed" I like the fact that it's definitely a lower denomination...they have the 250...500...1,000...5,000... 10,000 ...20,000 and 50,000 so now they want to create a 20,000 dinars. What I'm anticipating is...we're going to see the 25,000 and 50,000 dinars removed. Not right away but removed...they'll definitely be heading in the right direction. That'll definitely bring a lot of positive vibes to those individuals who've been waiting for the dinar to gain in value... ** Mnt Goat Article: "IRAQ’S OIL GENERATES MORE THAN 8 BILLION DOLLARS IN ONE MONTH" WOW! WOW! WOW! This is a filthy rich country! Yes, and the dinar is still 1/6 of a penny? ...The monthly revenue of the IQD is more than twice that of the economy of Kuwaiti KWD, their neighbor yet Kuwaiti dinar is KWD 1 equaling US$3.26 (up 26% today) and the Iraqi dinar IQD equaling only 1/6 of a $US0.01. Can you see the artificial suppression of the IQD. Why? When will they allow the true value of the IQD to be reflected in its rate and have the rate traded internationally like the KWD? ** BeeDeeDub [Reference Frank26 Well Fargo Bank post 11-30-2022 ] I PERSONALLY CALLED the...Wells Fargo Foreign Exchange telephone number...Wednesday, November 30, 2022, at exactly 7:45PM Eastern Time. The recording on that phone number explicitly stated "There are several currencies we currently do not offer, and have no plans of offering in the future, such as the Zimbabwe <<currency name>> and the Iraqi Dinar." [Also] the Iraqi Dinar STILL IS NOT LISTED ON THE WELLS FARGO FOREIGN CURRENCY WEB PAGES.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it's from Mark... RON ** Clare Article: "Central Bank of Euphrates News: No denomination will be withdrawn from the Iraqi currency, and the 20,000 is in the process of being designed" Quote: "It is noteworthy that Iraq has - so far - 7 categories of local currency issued by the Central Bank of Iraq, which are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10000 dinars, 25000 dinars, and 50000 dinars" ** Mark Article Quote: “The Kurdistan region proves its share of next years budget. How much?” 14 % of the budget is going to Kurdistan. This is huge. This is the first time since we have been watching this that they have agreed to HCL/140 . We were told this was key before they announced the rate according to my contacts over there. CBI have been waiting for this I was told...In print they have agreed to the oil and gas law. All money will get shared as it is supposed to get shared. ** Walkingstick [Walkingstick's Iraqi Bank partner/friend update] All the private banks and the CBI are meeting right now...the #1 thing we are discussing...is the money laundering. Most of this has been dealt with...we are constantly talking about the new small category notes - Where to store them. How to issue them...and we are in conversation about the exchange rate we are about to release. Also, we meet with the CBI to talk about the international float...the currency exchange process...
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt... Especially if it's from Mark... RON ** Pimpy I can't see them doing any kind of exchange rate on this budget. What do I think Iraq will do now? ...Find as much [stolen] money as possible. Get back on track as quickly as possible. Issue a new type of Iraq dinar and this could be their excuse when they go to issue the new Iraqi dinar to delete the zeros - kill two birds with one stone. Then go ahead and change the exchange rate...I don't know how much longer they're going to continue to move forward using the current currency that they have given the fact that trillions of dinars have been stolen. That's just not going to work. ** Mark Article: in Iraq: “Parliament announces the agenda for the next Saturday session (completion of the ministerial cabinet) “ This is 2 days from now. Some people think this is important and that the CBI wants to see this government properly sat and all squared away before they change the value of the dinar. I still think it is solely within the CBI’s powers …but this is an important article based on what I hear out of Iraq…that the CBI wants to make certain that the government is truly secure. ** Kaperoni Like every year, Iraq's budgets are created in dollars, then converted to dinar at whatever the exchange rate is. There is no significant RV of the Iraqi dinar ** Frank26 ...Once you see Article 140...HCL, the next thing you will see will be the new exchange rate...We've see Article 140...HCL is busting open the budget...In my opinion Article 140 activates HCL and that activation alone is what's going to bust open the budget. In the budget we'll see the birth of Article VIII to the reforms. Article VIII leads us to Forex...which then leads to a float.
