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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 & Militia Man Mark: There is no future for them without an improved exchange rate... Militia Man: If they have a REER (Real Effective Exchange Rate) based on true values…from oil, natural gas, borders, tourism, taxes and tariffs…it’s going to be phenomenal…and that is what they are working on. I think everyone should be excited as we are watching it unfold. We should all have confidence that what we are invested in is coming to fruition. That is my belief…everything is very positive. Frank26 We are in the waiting phase. Simply in a waiting phase. That's all. There isn't, this needs to be done, that needs to be done, That T crossed, That I dotted. No. We are in a waiting phase.
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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 Iraqi people that live in Iraq can't exchange, only people abroad ." Here's what would happen. We would change our dinars for the new rate, but the people in Iraq would have a much much stronger purchasing power. MarkZ Question: We keep hearing that Iraq cannot base the RV on just oil. Other than oil…what did Iraq export under Saddam when the dinar was $ 3.48? Mark: Their economy is far more diversified and robust then it was back then when their dinar value was the highest in the world. They used to burn off their natural gas and now it’s a huge commodity. Plus their rare and precious minerals in the ground. And their tourist industry visiting all the historic sites. They are located between some of the largest rivers in the region and used to be the breadbasket of the region. They have far more going for them now then they did when their currency was exponentially 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 ... RON Breitling Question: "Why do the [Iraqi] citizens want to keep using the dinar when the value is so low?" Not everybody has access to the US dollar for one thing. #2 It's artificially low. A lot of Iraqi's know this. They know what's going on. There's nothing they can do about it. That's one of the things, if you watch the parliamentary elections of Iraq one of the number one campaign promises all these guys make is we're going to add value to the dinar. They know it's artificially low. [They look around and think] we're selling more energy, the price per barrel is more, we have more customers and yet the dinar is [worthless] and we're all running around in poverty. Militia Man I highly recommend people pay attention to what we're talking about because this is not something to take lightly. If you're still on the fence I really think you should...start doing some research...I hate to see anyone miss out on an opportunity... Clare Article: "Selling an Iraqi currency dating back to the era of “King Ghazi” for 100 thousand pounds sterling" Quote: "A very rare Iraqi currency dating back to the royal era was sold in the country, today, Monday, at a fantastic price of 100,000 pounds sterling, or approximately 187 million Iraqi dinars." Henig ...The situation with the Iraqi Dinar is no longer limited to a few observers. It is getting world-wide attention... Frank26 2023 was the year of preparation for the monetary reform to be revealed. We are now in that position. We are now in the position that the monetary reform is being revealed to the citizens of Iraq. One of the things that is happening, and I pray that it happens faster, is the value of the Iraqi dinar is going up every day causing the dollar to go down...down...down... Once they reach a certain plateau that they're looking for then they're going to float the currency. That's why they've educated the citizens of Iraq about the float... MarkZ ...with the government forcing the use of dinar only from now on…they need to have a higher value…or these people who have the green light to come in and start building are not coming…I am being told from my folks on the street over there to watch in the coming days or weeks for the rate of dinar on the prices of goods to change. To me this signals there is going to be a substantial change. And they told us they are going to implement their economic reforms in the month of January. And the exchange rate is a key issue in those.
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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 The United States Treasury, the US Federal Reserve Bank, the Bank of International Settlements, World Trade Organization, the EU, many different entities have been working with Iraq to get her to go to an international standard. The stage is set for Iraq to be international...Everybody should know that and it's not just a simple Dinar Guru situation, it's actually the largest financial entities in the world are the ones that are giving us this information. I hope you take that to heart and pay attention to it. Frank26 I told you IMO they would go one more major move. I think that's where they're going. Look where they're at. Look where they're going. When they get to 1000 to 1, talk about the perfect scenario to lift the 3-zeros...But remember there's a good chance we're not going to see the 1000 to 1. Walkingstick They didn't print new coins. The old coins they had are still good. That might be one of the reasons why IMO they're going to incorporate it along with the lower denoms at the same time...They have not manufactured any new coins. The CBI is going to use the old coins. Those coins are sitting in the CBI vault...You can throw away fiat. You can throw away paper, the 3-zero notes, but it would be dumb to throw away precious metals. It doesn't have Saddam on it...Coins don't. MarkZ It’s a painful nothing burger this evening with RV news…I ran into a brick wall everywhere I go this evening. I do not know if this is good/bad…but it is only Jan.2nd.and this is the first work day of the new year. Wow, and honest statement from Mark..! Nader From The Mid East Question: "Is the rate and the [lower] currency gonna come out together?" I think yes. This is why I think yes. First, because they cannot change an exchange rate with a big numbers [rate] and Second, they cannot change a [lower] currency with the small exchange rate...If you change, you've gotta change both. If you take the 3-zeros from the currency, you're gonna have to take the 3-zeros out of the exchange rate in the same time. That's what I think. Sandy Ingram People have been asking, 'Why is the Iraqi dinar one rate in Iraq and a different rate online...?' There are two major reasons for the different rates. 1. The Iraqi government imposes strict currency controls to limit the flow of dinars out of the country. This creates a dual exchange rate system: Official rate - fixed rate imposed by the Central Bank of Iraq...Market Rate - Freely fluctuating rate is used for private transactions and most imports... 2. The IQD is not widely traded internationally ...Limited demand for dinars outside Iraq weakens its value on the international market. But...they are now saying speculation about a potential revaluation of the Iraqi dinar sometimes influences online prices... Speculation investors, that's us. We are causing fluctuations in the currency value...
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Mnt Goat ...2023 was an outstanding year for progress in the currency monetary reforms in Iraq. I could hardly believe that so much was done in such a short period of time, if you compare the other 20 years since the 2003 invasion. In today’s news we read multiple articles talking about all this progress and how they have so far managed to get the parallel rate from 160,000 to 145,000. This is very close to the official CBI rate of 132,000, but not yet there as they expected. My CBI contact is telling me they still want to bring it closer and more stable...It’s all very good signs but now there yet. [Post 1 of 2] Mnt Goat My CBI contact tells me they do need it closer and stable and when it does, they will trigger another CBI official rate revaluation. But this will still be the program rate not what we want. We need to keep our eyes on the CBI “official” rate. When this rate drops again, I was told they will move ahead on the project to delete the zeros. They want to accomplish this in the month of January and are optimistic they can. So, this is the very good news for today to kick off the new year. [Post 2 of 2] Pimpy Question:"What's the difference between a dirty float and a managed float?" You have a fixed rate like we have now... where they come out and say you get 1320 dinar for a dollar, fixed. Then you have two types of floats...Free Float - that means a market determines the value no ifs, ands, or buts. The market determines the value. That's a free float. A managed float is the same as a dirty float. That means the Central Bank of Iraq will watch what happens in the free market, like Forex, but if it goes too far in one direction...then they intervene. They'll do something to control the exchange rate to keep it from getting out of whack. Frank26 Question: "...Some of the banks I called said they're going to send them to another bank and inspect them and then bring them back?" What happens if the Brink truck as it's driving to the the other bank gets robbed? 'We will replace the dinar.' No you won't. You'll replace the value, which is ka-ka right now. Don't ever lose site of your dinars. I told you take pictures. You just need pictures of the front of your dinar not necessarily the back. The front has the batch number and the serial numbers. That's what's important.
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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 Here's the thing that everybody is missing. Article: "Government adviser announces entry into force of 2024 budget" Quote: "...the exchange rule 12/1 does not currently exist under the Financial Management Law No. 6 of 2019, as amended until the beginning of 2026." What is Iraq's exchange rule 12/1? ...The 12/1 rule refers to the rate at which the Iraqi dinar is exchanged with the US dollar. 12 Iraqi dinars for every 1 US dollar...Over time the 12/1 rule has been revised several times...1160...in 2003...1170...in 2006...It looks to me like they're trying to say the exchange rate will change in the beginning of 2026. [Post 1 of 2...stay tuned]....still waiting for part 2..! Nevertheless, they can amend it, and change it again now, if they wish.. ! JMHO - RON Frank26 The monetary reform is successful. All they need to do now is give them the new exchange rate and the new currency that they've been talking to them about. It's successful. That's why everybody's signing contracts left and right and pouring into Iraq...You honestly think the contracts are being signed at a program rate? Of course not..!
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Community comment: "They can change the rate anytime they want..." They can change it anytime they want. They have the ability to do that. The reason why you do it at the beginning of the year is because then you have the whole entire year you need to plan for. If. They're going to make any changes to the budget it's definitely going to be around the first of the year... Nader From The Mid East Happy New Year, best wishes and all that stuff...A lot of people are sending me messages going like do you see any changes? ...I don't know why you're asking me that. What you guys heard? Who told you anything? Some people wrote me tonight at midnight the currency will be launched. Some people said their new rate will come out tonight at midnight ...I didn't see anything like that. They didn't say they're going to change the rate tonight. They didn't say they're coming out with currency tonight... They'll never tell you they're coming out with it...I'm not expecting anything tonight... Militia Man All of this is coming together. There's no reason for any pessimism or snide remarks for anybody around in dinarland.. There's shouldn't be any doubt anymore that this is a real process and it's underway... Frank26 Question: "Is there a chance de-dollariztion could be delayed...and they keep using the dollar? No, no, no no no...You can't change the speed of light. Hope Everyone Had A Great New Years Day..! 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 Walkingstick By mid-January 2024 the CBI is giving a time frame where the IQD CBI exchange rate will be one in the same as the market rate. That's all that matters. Let's see what that rate is by mid-January. The black market rate will be no longer...that shows great control of the CBI official exchange rate for their currency... Clare Article: "Expectations that the decline in dollar prices will bring benefits to the Iraqi individual " Quote: "In order to reduce the price of the dollar in the local market, the Central Bank of Iraq specified, yesterday, Sunday, the entities covered by receiving their external transfers in cash in the dollar currency, starting from January 2, 2024."
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Article: "The central Bank determines the entities covered by obtaining their remittances in dollars starting Tuesday" As we all know...Iraq decided to de-dollarize. They're no longer going to use the dollar. Quote: "Central Bank of Iraq specified the parties covered by obtaining their foreign transfers and cash and dollar currency starting from January 2nd..." They are definitely going to drastically reduce the use of the US dollar. Frank26 Question: "What would be the punishment for using the dollar after the 1st?" First time a big fine. If you continue, a bigger fine and the third one, jail. Goldilocks Banking Announcement of the CBI in Iraq: In an official statement from the CBI of Iraq, customers inside Iraq can receive the dollar with the permission of investors involved in the transaction. Otherwise, all transactions are to be done in the Iraqi Dinar going forward in order to enhance confidence in the dinar. This official statement is the new monetary policy that has been decided to begin on January the 2nd, 2024 per the Council of Ministries. See: CBI.iq
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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 The goal to de-dollarize has been the goal all along of the monetary reform - to remove the American dollar from Iraq's banking structure. The fact that we are there is exciting. DataSteward A few minutes ago it turned midnight in IQD land, Jan 1, 2024 and the website still shows 1310.000 USD. Hope it changes soon. It won't change until the world get's over New Year's Day. Most of the World is shut down. Forex doesn't open till Tuesday. Iraq wouldn't telegraph any move until they are ready to make the move. Besides, as has been noted by several knowledgeable individuals, it could start at 1310. Not that I'd want it to, but they could start there and manage a float. Or, they could come out with an initial rate - hopefully, just over a Dollar US. No one knows the timing except the CBI, a very few in the GOI, and possibly a few in the IMF & UST. RON Militia Man Iraq is going to be interconnecting with international countries and they're going to be doing it by International standards and guess what they're not going to be doing that with a 1310 program, or I call it, a punishment rate...
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Happy New Year 2024 - Dinar Vets 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 was in a Chase bank last week and noticed an entrance for private banking services. In the bank I noticed cubicles and training ongoing. Mark: Clearly they are preparing for something. Frank26 Do we hold them, or do we fold them? We have a lot to consider... Pimpy Article "Iraq is ranked 4th in the list of the most dynamic countries with foreign investment" Quote"Iraq ranked 4th among 10 countries with the growth of foreign investment momentum until 2024 with a growth rate in expanse of more than 370% from 2021 until the end of 2023 according to a report by the Foreign Direct Investment (FDI) website." This is really good for Iraq.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 It's still at 1310...Right now. Don't you understand [the dinar] is being put into a position to change the rate? It's that simple. It's not complicated. It's that simple at this simple step...That's what you're seeing. That's what you're witnessing. Angel1 People are asking are they international? Are they gonna go international? ...They have two currencies trading in dinar...pegged to the dinar...They are already operating internationally in a controlled environment...It's not going to shock the market when they go on Forex and peg to six different currencies. They're already doing that now. The roll out has already begun. The markets are already accepting them. The markets are warming up for them to go on Forex officially. They are already doing what we want them to do on a small controlled scale...They've proven that they can do it. Nader From The Mid East I hope it gets 1 to 1. I'd be happy with that...Let's see what's going on with the budget and the elimination of the dollar. Let's wait for the best and expect the best. Pimpy Looks like Iraq has put their ducks in a row. They're getting ready to start the new year of 2024 doing exactly what they said they were going to do - stop using the US dollar, making sure the Iraqi dinar is stable before they do that.
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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: "Is Iraq going forward with only dinars as of January 1st?" Yes and that is the key...the next 24 hours is a very important key to see if they use it to unlock the monetary reform....If the Iraqi citizens have absolutely no other currency but the dinar to use in their country...how are they going to do it with a 3-zero note that has almost no value to it? MarkZ Question: Do you still expect all currencies to go at the same time? Mark: Yes…I still it expect it to all go at once. Mark has NO WAY of knowing, and always guessing. Why does everyone think other currencies (Dong) will have a value increase if Iraq does. All conjecture & BS. Sheila IMHO... We wait for ISX to open Tuesday... Then Tuesday evening Iraq said they will pay salaries out of budget? Hoping these are clues to going from program rate to international market rate.
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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 Article: "Parliament is awaiting the 2024 budget schedules...preparing for major changes in numbers" Remember I told you if they're going to make any kind of change to the exchange rate it would happen at the end of the year or before the beginning of this next year 2024. The reason for that is businesses in Iraq have to prepare their budgets ...based on what the government in Iraq does...The fact that they're saying they need to reconsider the total revenues and expenditures for the year make me wonder what it is they have up their sleeve. There's no guarantees that's what's going to happen but if they are going to make a change to the exchange rate this would be the time to do it. Frank26 This is not an RV like a lot of silly people say. This is a reinstatement. It's about the numbers of the reinstatement. They are talking about the fils...It's blowing my mind all the things they're telling you...We have landed on the shore of monetary reform. IMO because they are telling you so much in such a concentrated amount of time it's because they are in a hurry as January the 1st approaches us... Militia Man The facts are in the pudding. Anybody that says it's never going to happen has not done any study...When people do that I think it's reckless and I don't think they've done their research properly... Walkingstick 1310 is actually a really good rate right now because it's good to keep control of the IQD exchange rate. By keeping it at 1310 until they're ready to pull the trigger, there's no profiteering. There's no reason to steal a dinar. As the CBI maintains the exchange rate value of the IQD it is affecting the rate of the USD verses IQD...The CBI is controlling the dinar... Nader From The Mid East Don't worry about the budget. The budget has nothing to do with nothing. It has stuff to do with making the economy stronger and all that stuff but has nothing to do with the rates... Pimpy You guys keep forgetting they rely way way too much on oil revenues for their budget. That has got to change before you can really make any major changes to the Iraqi dinar exchange rate... MarkZ Everything still appears to be on track with a tremendous amount of anticipation for the next few days... There is a big push now to get the US military out of Iraq immediately. Article: “Iraq’s PM says government working to end presence of US led coalition forces in the country” Donald Trump once said that that when they reduced the numbers they would not completely leave the country until we have been paid for the war effort. So what does that tell us? They are trying to get us out in “the next coming days” which means the RV needs to happen…as I understand it. This could be an indicator of how close we are. Iraq is also indicating the problems with the parallel or black market selling the dollar would be done by the first. Buckle up for this week…We may not make it by the first…but I believe it will be very close to it. Kaperoni I hope each and every one of you find success in this investment...It may take time. It may be another 1 to 5 years. I certainly hope not but I believe things could happen quickly over the next 36 to 48 months. It all depends on Iraq. Frank26 Question "Do you think we will be limited to the exchange time?" ...They will give you the time frame. I'm hoping...they never stop. Now, Iraq will stop. They will eventually cancel their 3-zero notes but you'll be told way in advance. My only sadness is I hope they don't say you you got 3 months to exchange. I would love to see the float go into 6 months or a year...If we are stopped then the float is of no value to us any longer... Pimpy Community Comment "Pimpy last month said he believed the dinar will revalue in 3 years so I stopped listening..." I didn't say it was going to revalue in 3 years. I said it's going to go up in increments over three years. Big difference.
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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 There's more to the story...It's not their job to tell you specifically we're going to do this, this, this and that tomorrow. They're not going to do that. But we're going to watch and see... Walkingstick Question: "Where is the new exchange rate?" You don't see it yet but they are telling you directly what you are about to see. They are in the process of making the new exchange rate public...This is the monetary reform education at its best. They are telling the Iraqi citizens while you investors listen.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Mnt Goat ...we can see what is slowly happening is that Iraq is moving back to a normalcy of their financial system an international normalcy. It takes much more than just putting in place the banking reforms, the means and the mechanisms to do it as we have witnessed over the past years. But now they are actually doing it. It may be slow but remember they are still under the strong arm of the US Treasury on this matter too, and are working very closely with them at their pace. In many ways this is good as we want the US to support this process when it comes time to give the “green light”. This is why so many visits by the US Treasury to Iraq.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy There's no float. It's fixed at 1320 for every dollar. Once it ends up on Forex then you'll see a float. Most likely it will be a managed float where if it starts to get crazy one way or the other then the government will intervene and control the rate...The most likely scenario..! Sandy Ingram In January 2024 foreign currencies will no longer be allowed inside Iraq and any violations will be criminalized. The Iraqi dinar will be used for all transitions. Angel1 They have met all international banking standards. That was something the US Treasury walked them through...That was a massive deal. Shortly there after the UST signed off on their part. Shortly after the UST signed off on their part they met with the IMF...On the IMF report is this, they approved the pass through from the exchange rate revaluation. In other words they approved for them to go international and allowed them to let it go, and the markets will determine what the exchange rate is...We're looking really really good.... I like it, but will it really happen..? Militia Man Anybody that's not thinking this is ever going to happen, it has absolutely been in track. The UN is having what they called...the fast track...Nobody's going to take the Iraqi dinar seriously at 1310...The UN assembly...talked about how Iraq's going to be a savior for the global financial system. If they're going to be such a savior...how is it that 1310 hasn't worked so far? Frank26 IMO the monetary reform will mature...They are trying their best to help you understand they are about to give you [Iraqi citizens] your monetary reform in the coming days. I don't care what rate it comes out at just release the tiger... Nader From The Mid East They're doing great. I can't wait for January to see what's next week to see what's gonna happen. I mean I can't wait, like the day get longer when you want to know, when you want to see what's happening there, the days got longer and longer. I wish to see what's the first step... MarkZ Well there is plenty of expectation for this weekend...things are highly possible by the first. No SH*T Sherlock, everybody is hoping, but very unlikely - sorry to say. Walkingstick The blackmarket rate verse the official rate is off by only 10%. They have made great strides with the monetary reform. It has been accomplished. It is done. It is in position to be freed up.
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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 As we close out this year Iraq continues to take steps in a positive direction. Let's hope this continues. You guys keep asking about a rate change at the beginning of this year. If they're going to do it it's going to be done now, not later. I'm not saying it's going to. I'm just saying if it's going to be done, it's going to be done now so they can re-change all the budgets for the years. I don't think it's going to happen but we'll see what happens from here. Frank26 [Iraq boots-on-the-ground report] FIREFLY: Financial expert on TV saying there will be changes to the value to the Iraqi dinar after the new year. FRANK: The CBI, without any fear, without pulling any punches back, they flat out tell you the beginning for next year your currency will have value added to it. Of course, because you won't be able to use any other currency in your country. Therefore the sanctioned, punished program, used toilet paper rate of your 3-zero notes is going away...You are about to be a powerful linchpin in the financial theater of this world. Iraq is about to change as quickly as darkness turns into light. Get ready, you are about to walk with elegance and grace once again. Mark ...Bank Story...I am going to leave out the name of the bank so they do not get harassed.: “I went to my nearest ____ bank in California on Mon 12-18 to talk about the possibility of opening an account with them. I told the account rep I had a lot of foreign currency and have been reading that ______ bank was one of the banks doing deals in Iraq and were going to be one of the participating banks when the RV (Re-valuation) happened. I asked if that was accurate? The account rep lowered his voice a bit, smiled at me and said “Yes, they are going to be one of the participating banks when it happens but I would need to have an account in order to redeem” [Post 1 of 2] MarkZ I asked him if I opened an account today would it help with the process, and would this branch be where I would be exchanging? He said “Yes and No” Yes I could bring in my currencies here…but they would have to send them to a branch in a different city to verify the currencies are legitimate. I asked if I could just drive to that branch and redeem it myself there and he said “Absolutely” and that way you do not have to let your currency out of your sight. So what I call a redeeming bank or redemption center- are locations like that one that are set up to verify and exchange it right there in front of you with trained personnel. RC’s are banking facilities specifically set up with specially trained staff to verify your currency in front of you so you do not have to let it out of your sight. [Post 2 of 2]This all sounds like a contrived story to me - JMHO..! RON From Midnight Thursday - 12/28/2023 Walkingstick Remember Iraq is still under the umbrella of the IMF. They may not be under sanctions but they are under the umbrella/protection of the IMF. These were the meetings that were taking place in New York, then Dubai and then in Baghdad. Remember the two things the IMF said - The Iraqi dinar is adding value and they are very undervalued with their exchange rate.
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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 Iraq is not going to be at a pubished rate. They're going to have a real effective exchange rate (REER) coming in the future. That's what our expectations are and that's what the citizens of Iraq's expectations are. Pimpy The year is winding down. I would say Iraq did pretty good despite all the BS that's going. We are looking forward to 2024, hopefully with a lot of great news as Iraq continues to move forward to do what's best for the people of Iraq. MarkZ There seems to be a lot of fear about redemption centers. What I refer to as redemption centers are participating banking institutions. You can call them what you want. These are banking properties with banking personnel trained to handle foreign currency transaction and verify them on-site instead of sending them off somewhere... Nader From The Mid East I don't believe in redemption center. I don't believe in that. I believe in banks and exchange offices. I don't believe in redemption centers. Sandy Ingram Why are we seeing reports of a meeting with the IMF in Jordan and a meeting with the Department of the Treasury and the US Federal Reserve in Dubai? ...The meeting with the IMF had to do with the IMF staff team helping the Iraqi authorities reform the banking system...This meeting more than any other tells us Iraq may be preparing to join the global financial network, aka Forex Market...Here's the bottom line. Iraq has never really been on the Forex market. These reports IMPLY Iraq is headed in the direction of international currency inclusion while using its own currency for transactions within th country beginning January 1, 2024. MarkZ Question: What does you gut say Mark? Mark: My gut feels it will be at the bridge of 2023 to the first of January. Frank26 [Iraq boots-on-the-ground report] FIREFLY: The television is talking about how Iraq and a basket of currencies will help to reduce the dollar rate. They are already talking about the yuan and rupee... The government is saying we aspire to end the parallel market dollar in the coming days. Walkingstick They are telling the citizens in the middle of January the IQD exchange rate will finally match the official exchange rate of the CBI. What is the official exchange rate of the CBI high now? 1310. Do you think it will stay at 1310? No. No matter what the CBI exchange rate is in the middle of January the CBI is saying the market rate and the official exchange rate of the CBI will be the same. So it could be an RI rate. Or it could be at 1310...It really doesn't matter what the rate is. As long as they are the same... Militia Man We have been watching some of the most fantastic news articles...We can clearly say we have the confidence Iraq is going to be going international...We see evidence of that in a lot of different ways...They're doing things in a big way...The U.N. is saying Iraq has emerged... Pimpy Iraq has taken the necessary steps to strengthen the Iraqi dinar. We know there's restrictions on the amount of money Iraq is receiving from the US. But doing that has put the pressure on parallel market because they don't have enough dollars to trade...on the black market ...causing companies to have to use the official exchange rate instead of trying to be sneaky on the parallel market. That means they have a stronger Iraqi dinar... Because of that they have more purchasing power... This is why I think as time goes on you're going to see the Iraqi dinar go up in increments. Frank26 [Iraq boots-on-the-ground report] FIREFLY: They are talking about Fils and what they will mean to us. FRANK: What are fils? Coins. Because they're coins [REAL metals] and not fiat [paper currency or numbers on a screen] they are pip incremental increases FIREFLY: They're talking about coins they are going to give us along with the lower denoms. They're saying the battle with the dollar is soon coming to an end. Mnt Goat ...there is always one news article to grab my attention and stands out from the rest...WOW, WOW, WOW news. It says that the purpose of foreign currency in Iraq is to deal with it outside the [national] economy, so it is not possible to consider the existence of a price in the dollar and a price in the dinar: one rises and the other falls. No monetary policy can control such a situation...Folks this is just what we have been waiting for so long to hear...This is huge news. [Post 1 of 2...Reposted] Mnt Goat They are finally getting off the sanctioned use of ONLY US dollars for trade outside Iraq. Yes, they are beginning to act now like they are out of the UN 1991 & 2003 sanctions, that by the way, happened over a year ago. So, yes, it is about time. We all should be jumping for joy and maybe even taking a couple sips (I said just a couple) of that refrigerated champagne… lol.. lol.. lol. Save the rest for what is coming next and that includes going 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 [North West US Bank Story] BANK STORY WOMAN: All the way up until a few months ago, I kept buying dinar from this bank...The VP came into the office and says, 'Hey, we want to know why are you buying all this dinar? Is there something you know that we don't know?' FRANK: Oh, my goodness. BANK STORY WOMAN: I kind of gave them the foundation of it and then before you know it I end up walking into the bank [weeks later] they sort of shouted at me, so have you heard anything? This was in the lobby! I was looking around like oh, my gosh why are they talking so loud? [Post 1 of 2] Frank26 [North West US Bank Story continued] I have my fingers next to my lips. They said, oh it's okay everybody is invested here. FRANK: They got invested and now every time they see you they want to know more. Yeah, this is a small bank. That's why they don't know too much about it. But the fact that you planted a seed with them and you know very well they went and asked questions to the right people in the banking industry. Next thing you know they're waiting. BANK STORY WOMAN: ...They have a lot of branches in 5 or 6 states. They're big but they're not big like Well Fargo or other companies. [Post 2 of 2] Militia Man Multi-currency practices are using more than one currency. For instance if you're using the dinar and the dollar, that's multi-currency practice within internal circumstances. That's going to go away. Clare Article: "The Iraqi Dinar Overthrows The Dollar And Wins The Struggle To Control The Regular Market” Quote: “The US Treasury continues its cooperation with the Central Bank of Iraq, as many Iraqi banks have now formed relationships with international banks for the first time.” Babysmom WE WILL NOT KNOW WHAT THE RATES ARE UNTIL THE DAY WE GO TO EXCHANGE. THEY WILL BE BASED ON FOREX AND WITH THE DINAR IT WILL BE BASED ON WHAT THE PRICE OF A BARREL OF OIL IS AT THE TIME WE EXCHANGE MarkZ Article: “Iraq’s ports emerge as key transit points amidst international shipping route changes” With the unrest in the Red Sea…they have found alternative paths through Iraq using ports, rails and trucks. I think this one is big and solidifies Iraqs position in the international world. They are also shoring up their financial world and Iraq’s position as a trade hub. They are going to need a currency to go with it…especially once the de-dollarize. Question: What does your gut say? Mark: That we may be in the last week or the last days of this thing.
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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 Iraq has experienced multiple devaluations and revaluations of the currency...From 1988 to currently where we are these are the major events that affected currency. 1988 the IQD as introduced. This was replacing the IQP (Iraqi pound). This was done at a fixed rate of 1 to 1. You could exchange your IQP straight across 1 for 1 for the Iraqi dinar (IQD). 1990 when Bush went to war with Iraq of course the gulf war caused significant devaluation of the IQD. The currency lost about 80% of its value against the US dollar. You could exchange 1 Iraqi dinar for $0.31 cents US. [Post 1 of 3] Pimpy The funny thing is I would take that right about now because I have about four or five million Iraqi dinars. If it jumped up to $0.31, woo, I'd be happy with that because I'd get over a million dollars back. 1995 the IQD was officially pegged to the US dollar at a fixed rate of 1 IQD for $2.85 USD. 2003 we know the US led an invasion of Iraq...This led to economic instability and currency fluctuations. The Iraqi dinar was devalued to around 1 IQD for $1.30 USD, then to pennies...Got rid of the ones with the faces of Saddam Hussein... 1 new IQD was equivalent to 1,000 old IQDs (3,000 to $1US). In 2012 (before 2012) the central bank...allowed the IQD to float freely. This led to a significant devaluation of the currency with the IQD losing 20% of its value.(this is a gross misrepresentation - The CBI lowered the value several times since late 2020...see chart: https://tradingeconomics.com/iraq/currency select "all" )..[Post 2 of 3..stay tuned] Pimpy 2014 IQD experienced another devaluation. This time it was due to the decline in oil prices and conflict with ISIS. The currency lost about 15% of its value against the USD. [Later] the CBI implemented a new exchange regime allowing the IQD to float freely against the basket of currencies. I think a lot of what Pimple wroth was from memory - again, check the chart. This led to further devaluation of the currency with the IQD losing another 10% of its value against the US dollar and then not even a year later to turn around and...increase the value of the Iraqi dinar exchange rate...So yeah at one time the Iraqi dinar was more valuable than the US dollar. Do I think it can get there again? Of course I believe that absolutely but there are hurdles that Iraq has to get over. [Post 3 of 3] 12-26-2023 Newshound/Intel Guru Walkingstick At what rate will the IQD go into the [Middle East] basket? I don't know...This is an RI. This is the reinstatement phase. The goal is to reinstate the value that the Iraqi dinar once was proud of...It's a reinstatement to get to the Real Effective Exchange Rate (REER) to a float. The key is to let them get to that number.
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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 IMF regulates all banks around the world. If a bank wants to come out with a new currency they will talk to the IMF about it...Whatever it might be concerning the financial structure of a country with its banks the IMF has to give the okay...Why? Because you're dealing with every country internationally. Well, Iraq isn't. They're about to! And that's the point...They're about to do what big boys do, what big banks do. The IMF has worked with them...This is the conclusion of those meetings. Wolverine (Bank Story from a member) I live in a very small town and called my local banker at Wells Fargo. I asked the bank manager if the bank was ready for re-evaluation of currency. He said they were all ready and fully trained and when the green light goes on his bank will be able to take any currency in any denomination. He said he was waiting on the green light. Frank26 Right now it's an illusion to many banks because they don't know. But the banks that do know, are the ones that are being primed.
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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 80% of Iraqi use the dollar. That means when I carry $100 I carry 1390. If I carry 10 $100 which is $1000 I'm carrying 1,460,000. In January, the 80% of people are going to carry 1,460,000 dinars. Do you think really going to carry that? ...Guys like me, I'm not going to go to Iraq and carry 1,460,000. That's a lot of money in my pocket...If they taking off the dollar from the market, they're going to have to match the dollar...They're going to have to come with small category of dinars...100, 20s, 25s, 5s like everybody else. Pimpy You're not going to see new currency come out. Not yet. And you're not going to see them change the exchange rate. Not yet. Remember they put together a 3 year budget...that was calculated using the exchange rate of 1,310 dinars. Militia Man They've met their new international compliance requirements. The banks are facilitating currency movements and international trade going forward. Really this is a very good sign that what we've been dealing with and what we've been waiting for is knocking on the doorsteps. It is really good.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Petra Patterns over the last couple weeks have been nothing but exciting...Their focus has been on tightening up their relationships and activities...with their new partners globally...Now they're reaching out to countries and corresponded banks...which is critical for their currency to do what it needs to do. What we're seeing very clearly is a very focused and direct effort to get them over this finish line and to get them Article VIII compliant...all of these things line up...It's basically done...Now they're ready to go. Frank26 You [the bank] are not going to be charging me because I'm going to be depositing my money in your bank...If they say no, go to another bank. You are in control. If you had a million, 4% they want. I don't want to give up $40,000 to nobody. Especially if it's not necessary. It's an insult to be charged to put your money in a bank. It's like a tax upon a tax. -
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 Article: "A government source reveals the Sudanese measures to reduce the dollar to its official price" IT'S BECAUSE THE IQD IS GOING UP IN VALUE AGAINST THE USD...NOT THE OTHER WAY AROUND! It's been a really quiet day so far..! Merry Christmas Everyone...Ron
