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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 are issuance of currencies/ denominations coming and they're not triple zero notes...The triple zero notes [that exist today] are going to stick around for about 10 years. Those of you that think they're going to LOP...the zeros off the currency...the Central Bank of Iraq, IMF, World Bank, The Bank of International Settlements ...disagree with you because they say specifically...we'll use it to facilitate large banking transactions for 10 years. Frank26 The HCL is about to be born. If if was born at a program rate it would be like a preemie being born at 5 or 6 months. I just won't succeed... MarkZ There's a lot of pressure for Vietnam to increase the value of their currency in relation to the U.S. dollar.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 CBI, now you're telling all your banks to open as many banks as you can in the largest cities we've got because you're about to do something with your national currency and your exchange rate aren't you? Yep. This is logic. What you see before you is not a mirage. It's not an illusion. It's not a slight of hands. This is the monetary reform of the Iraqi dinar at its pinnacle. At its apex. At its crescendo. It's screaming from the top of the hill, 'We're coming.'. Sandy Ingram President Trump has hired an Iraqi-born christian to work on his civil legal team...Happy to see the ex-president maintaining his ties to Iraq. After all, he is our highest ranking Iraqi dinar investor. Nader From The Mid East You're going to see a lot of people coming out saying, 'Hey it's done. It's gonna be this, it's gonna be that, this' gonna be $0.60 cents, it's gonna be $2, gonna be $1.60, It's going to be $4, gonna be $3'. All this week you're gonna go through that but you won't know until the 1st of July or 2nd maybe... Paulette They continue to talk about the "parallel rate" when they have been talking about "a significant drop in the dollar". Saleh clearly noted "2% Required". They are still hovering around 10%. They have put many things in place and perhaps have used this as a cover/ excuse for the de-dollarization process that we all looked for...prior to them taking the next step to change their currency and bring out the NSCN's and Fils...I don't see it feasible to run their country very long on the current currency structure. All seems to be falling in place. I would be ecstatic if the "parallel rate" got to 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 Militia Man To be an observer component of the WTO you have to be responsible. You're supposed to pay your fees and dues. Iraq hasn't been paying their dues since 2018. Why would you pay your dues if you're not having any short-term need to have ascension? You don't. So they didn't pay. Guess what? They paid it all up to date. The World Trade Organization has got their dues...Why would you do that? Because you're looking forward towards the ascension into the World Trade Organization ...this isn't something that tells me we're going to be sitting here until 2024/2025... Frank26 [Bluestar bank story] I went to the 'Mother Ship' in the greater part of the D.C. area...I was invited by this lady [to meet], who turns out was an Iraqi woman, it was quite exciting. She had been a premier banker for 10 years. She knew all the...bigger wigs...anyway we're talking and I told her a little bit about my history, about how I've been following this for 15 years or thereabouts and I had...been in the room with Maliki, Abadi and Jabori and I heard them speak. I didn't say anything about Shabibi I guess I could have. But I said I've been following this closely..[Post 1 of 3] Frank26 [Bluestar bank story] I think you've got a great country, I know you're moving forward, I know things are modernizing, I heard JP Morgan is developing a presence there in Iraq and it's amazing but the general public has no idea what's going on and there's been a lot of disinformation. So I told her all this and she tried to play poker because you know I could tell I was hitting the right information points. She had a kind of interested look on her face. I mentioned about Iraq and the currency and she said, 'Well we've heard a lot of talk. We haven't seen anything yet. But we are, shall we say, are watching this closely.' [Post 2 of 3] Frank26 [Bluestar bank story] That was the first time in all these years that I had gotten anyone to say something like that. I said I've been with Wells a long time...she looked it up, she said wow you've been with us for 46 years...I said you know I have these minimums that I haven't been meeting ...and therefore I've been getting these charges...I'm wondering if you can take care of me because...I want to establish a relationship with you folks...Within a day or two all my charges had been taken off. That was a signal to me that they know that it's coming. They want to make sure I realize they value me because that had never happened before. She said she couldn't do it but then she ends up doing it....That's not the most outrageous and lightening bang story however I thought it would be of interest..[Post 3 of 3] The fact that she waived the charges is NOT necessarily an indication of anything. He was a long-time customer (who knows what he had in his accounts), and it was good customer service, and a goodwill gesture - Premier Bankers have some flexibility. I've gotten my Wells Fargo Personal Banker to waive fees numerous times. Just sayin'...! 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 Nader From The Mid East If he doesn't go on July we're not going until 2025. I'm sorry to give you this bad news but if it's fixed it's fixed. They are going to try to work on the economy, on the private sector and all that so it'll make it better. That's what's going to happen...I was telling you guys... every budget's a rate but it was a normal rate. It's 1300. Walkingstick What can avoid a recession [In Iraq] 1. Introduce the new currency with a comparable exchange rate. 2. Let your currency float in an International basket where many other currencies support each other... 3. Increase their exports... they need to start tapping into more of their natural resources...
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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 Implementation of Article 140 seems to be on the horizon... This is likely the bone that was thrown to the Kurds in order to get the Budget passed. Latif, a Kurd, wanted to make sure the Supreme Judicial Council is on board. This appears to be a key to him signing the budget along with resolution of the 400,000 barrels/day issue with Turkey. All seems to be coming together nicely! MarkZ Article: “Iraq Pays The Sums Of Its Membership In The World Trade Organization” Do you know one of the most important things to have to be in the WTO? An international tradeable currency. This article is very important. Iraq has paid off Iran and the dues for the World trade organization…we just need the “when” are they going to pull that trigger. Clare Article: "Iraq Pays The Sums Of Its Membership In The World Trade Organization" Quote: "The Minister of Commerce and Chairman of the National Committee on Iraq's accession to the organization had issued directives to give the issue the utmost importance."
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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 IMF keeps saying, 'You have currency inflation'. The way to combat currency inflation is by raising the value of their exchange rate. It is the economic conditions in Iraq that determine the exchange rate. Do you think the exchange rate should be a program rate right now based on that budget? No. That's why there are multiple exchange rates that were calculated due to the nature of their speed and currency inflation that they have now. Their inflation must not get out of hand... Frank26 Question: "It seems at some point there needs to be a public announcement in the U.S. to get the public up to speed. Are you hearing when that might be?" The United States of America will never publicize the Iraqi dinar. Never. Our media is communist. Our media, I don't even know if they're even going to announce what happens when they finally change the exchange rate. Our media is not good. They're evil. They don't tell you the truth. Don't expect any information from our media. Pimpy Article: "Iraq is witnessing remarkable growth in the world of e-commerce for the first time" Obviously this is good. It's another one of those things that helps strengthen the economy inside Iraq. As you are aware the stronger the economy the stronger the dinar. Sandy Ingram On the surface Iraq appears to have achieved a measure of stability. The country finally has a functioning government after a year-long political vacuum. Terrorist violence has fallen to its lowest rate since the 2003 US invasion...however %&*$ is happening behind the curtain...For those of us outside of Iraq looking in, everything appears to be fine and for the most part it is but let's get real with what's really happening... Article: "Iraq is Quietly Falling Apart" Iran is silently and quietly...setting up financial systems of failure for Iraq starting with the 2023 budget that Iraq cannot afford. Nader From The Mid East The ATM I cannot comment on it because I never saw a newer ATM, maybe operated like I told you before. But they're not loaded with smaller categories because they didn't even print it...They have picture of them but they didn't print it. It's a waiting game... MarkZ This is important guys…Article: ”THE CBI in cooperation with banks launches large financial projects.“ Their budget goes backwards with the current rate. Matter of fact they are working directly with Egypt to develop businesses: Article: “Egypt MSMEDA cooperation with Bank of Iraq to develop SME’s entreprenership”
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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 Question: "What is the next step of monetary reform?" It depends on the exchange rate. If the budget comes out and it's 1300 to 1 the next step is to change that rate because 1300 to 1 was only to be used to carry it over into a budget...The workings of the budget cannot exist at 1300 to 1. Absolutely not. Pimpy People are going ape crazy about what the new exchange rate is going be. They told you already that they're not going to do anything with the exchange rate until 2025. Having said that, is it possible something could change between now and then that would have them either reduce or increase the value of the dinar? Of course there are. We've seen that happen... Frank26 The CBI tells all of its banks you have to open branches in the largest cities we have. What a better way to advertise the new national currency and the new exchange rate in these big cities. No sense in going to the little city, you're not going to get that much information to spread. Go to the big cities it'll spread very quickly and we'll let every citizen know with the app on the phones we game them...Build banks in all the largest cities of Iraq? I guess they have some kind of a big announcement or a big project or some big service that they're about to offer the citizens of Iraq. Fascinating... And now for some of Mark's off-the-wall remarks: MarkZ What I am hearing out of Iraq on the budget is the president has it – he signed it and it will be announced tomorrow in the Gazette and in the mosques. This is a big one...The Rumor from Iraqi financial circles…Is that they do plan on starting a float this weekend of about $1.00 and float to see what kind of stability it has before they pull the trigger for the rest of the world, and for us. So this will start “in-country only”...We are already seeing the numbers move. The official rate is around 1310 but it is showing in the markets at considerable better. This shows they are positioning for an immediate roll-out over the next few days. ...they are moving forward and moving forward quickly. If, and when, they pull the trigger to increase the value of the IQD, it will happen suddenly and be a single rate ... in-country & world-wide..! Mark is blowing smoke again..! 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 Militia Man The currency is not going to go into an international market as it is at 1310. It's going to have to have an International acceptable rate and calculation applied to it...buying materials at 1310 to build a country is going to take hundreds and hundreds of trillions of dinar but if you were to move it to a 1 to 1 basis it's so much cheaper. If you moved it to 2 to 1, 3 to 1, 4 to 1, 5 to 1, 6 to 1 you can see how cheap it's going to be to buy those products. The Real Effective Exchange Rate is going to be determined to see where were are as our investment... Frank26 We are in the middle of the month where [Walkingstick's bank friend] Aki told us those [new Iraqi ATM] machines would have a different currency in them... [Firefly - boots on the ground] is literally camping outside of those ATMs. We believe that's the next hot spot for our investment...the ATMs have a lot more than you can imagine. It's not just a different currency. Babysmom ...THE PRESIDENT OF THE REPUBLIC IS "REVIEWING" THE BUDGET. ...HE HAS 15 DAYS TO SIGN/ RATIFY THE BUDGET OR IT AUTOMATICALLY BECOMES LAW. HE HAS SAID ON NUMEROUS OCCASIONS HE PLANS TO SIGN IT.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Question: "Why Chase Bank?" Chase Bank was one of the four that was selected. There were 4 major banks that were involved in this IMO...the first one was the piggy bank of the United States, Bank of America...Chase...Wells Fargo...CitiBank. Their roles in the chain of command of the monetary reform are about to be disclosed. Paulette Comment [Thank you for your Application to join the WTO Iraq - just an FYI - 'You ain't getting in with a program rate of 1,300 to 1'..!] I disagree...the rate is irrelevant to the World... Very relevant to the CBI who has to supply the actual money...look at Vietnam... Instead, I believe 'You ain't getting in unless you are recognized by the IMF as Article VIII compliant' is the more appropriate statement. This brings the IQD back to FOREX and easily exchange worldwide. Militia Man They said in numerous articles that once we have the budget law done that the next step would be to expedite the oil and gas, which is the hydrocarbon law that takes care of the citizens. Lets get it done...! Kaperoni Passing the tripartite budget is more or less the beginning of events that will follow. They now have the ability to launch the rebuilding of their country, encourage foreign investment, continue to develop the banking system.
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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 Suzie With JP Morgan coming into Iraq now and countries pouring in to do business, everyone should be done frothing at the mouth over the budget by now, it's time to release the kracken and show the rate internationally if they're going to play ball and get on board with the rest of the world. Frank26 Article: "After approving the tripartite budget, will the dollar exchange rate decrease?" YES IT WILL... A DECREASE IN THE DOLLAR EXCHANGE RATE EQUALS AN INCREASE IN THE IQD EXCHANGE RATE... THAT'S THE GOAL. Quote: "After passing the general budget, citizens hope that the exchange rate of the dollar will decrease, especially after approving the largest budget in the country's history".
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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 People are claiming they can't do reconstruction and anything else with the 1300 exchange rate. Yeah...They sure the hell can. That's why the entire budget is based on that rate...The budget is the largest in history of Iraq. It's a 3-year budget. So for you to go, 'Oh, they can't do it at that exchange rate.' Is absolutely false. All the calculations were based on the exchange rate they came out with.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "Parliamentary Conquest: Passing the oil and gas law depends on a signal from the government " Quote: "the representative of the Al-Fateh Alliance, Muhammad Karim, had confirmed in a previous statement to Al-Maalouma that the decision to vote on the articles related to the Kurdistan region in the draft federal general budget would pave the way for the approval of the oil and gas law." MarkZ Some news today Article: “US permits Iraq to release billions to Iran” Why is this important? Even though Iran is under sanctions right now- Iraq has been allowed to finish paying them settlements left over from the Iraqi war. Also to pay for power and electricity that is coming from Iran. This is important because we were told this was one of the last things along with paying Kuwait before they could move forward with ascension to the World Trade Organization and change the value of their currency. Pimpy Delete the three zeros - What's it all mean pimpy? ...Let's say a 25,000 dinar [note] - remove the three zeros. What do you see left over? 25. So a 25,000 dinar would be exchanged for a 25 dinar note. Period. Has nothing to do with the exchange rate. I can already hear people asking, 'What happens to the millions and millions of dollars we thought we were gonna get?' The only way that's going to happen is if they change the exchange rate first while we still have this currency because once the delete the zeros takes place and we swap our higher dinars for a much lower looking dinar then it is what it is. 5,000,000 becomes 5,000 dinars. [Post 1 of 2] Pimpy Q: ? Could the exchange rate change before the deletion of the zeros? Yes, of course, that's possible. Q? : Could the deletion of the zeros happen before the rate change? Yep, that's possible as well. I want to remind you of something. Let's say they do the deletion of the zeros. You have 5,000,000 dinars now it becomes 5,000 Iraqi dinars. A couple weeks later they reinstate the Iraqi dinar exchange rate to $3.22...you would still get $16,100, which is still a phenomenal return on such a small investment. Now I get it, [you] had already calculated millions and millions of dollar...man I get that...I'm always the bad guy..[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 MarkZ Question: Why do some believe it will float and some believe it will be a sudden rate change? Mark: Certain parts of the float make sense. Allows them to get a lot off the streets …the problem is it does not return their currency to prominence anytime in the next years…it doesn’t cure any of their ills. They did not “float” the currency down when they devalued it…and throughout history they do not float currency back up once they reduce them. They re-instate them. Now if we see a substantial change like to $2 and then let it float, that might make sense.
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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 The President has now officially received the budget according to the Finance Committee.......15 days...is Saturday 7/1 Militia Man Article: "IRAQ DINAR: With the document.. the budget law reaches the Presidency of the Republic for approval" The completion phase is effectively done and now the implementation and distribution phase is to be upon us! I hope everyone realizes we have never been here before with a budget like this. All of those that have been in this investment should know the implications of this are huge. An investment oriented 3 year budget sets this stage for the likes of J.P. Morgan to facilitate foreign trade. We dinar holders are a part of this. Frank26 Question: "Will the dinar be taxed as capital gain or ordinary income?" I always say to you that our government is not going to let you get away with anything. Our government is not going to say, 'Oh, forget the taxes? You bet. no problem.' This is a major event. Our government knows very well. Probably they know how many American citizens have Iraqi dinars. You don't think they want to collect it? 87,000 IRS agents? I told you they would come after you long before they announced that. I told you...yes it will be taxed up the wazoo. [NOTE: Consult your tax professionals to determine the best tax strategies and correct taxes for your unique circumstances.]
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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 Everything they're saying and showing the Iraqi citizens is only for one reason - to increase the value of their currency. Sandy Ingram Breaking News coming out of Iraq. The Iraqi government is planning to complete the requirement for Iraq's acceptance to the World Trade Organization (WTO). This means financial contributions to the WTO have been settled. A statement issued by the Ministry of Trade said that work is underway to complete the requirements for joining the WTO...
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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 The President has now officially received the budget according to the Finance Committee...15 days...is Saturday 7/1. Militia Man We have never seen anybody say the project to delete the zeros from the exchange rate has ceased and stopped. We know they printed new small category notes in the past...and there's evidence of that...in the central bank's files...it's an amazing time to be invested with the Iraqi dinar and we're gonna see this come to fruition... Frank26 [Iraq boots-on-the-ground report] FIREFLY: They saying that implementation of those that were caught using the dollar have been arrested and how they're being punished and they're telling us that because they used the dollar this is what happened to them. They're telling us how the dinar will be stronger. They're saying how we should back the dinar and the CBI says are doing campaigns to show and grow the support. FRANK: Get ready... it's possible that they are preparing to tell you about your new currency and your new exchange rate and the ATMs... Henig Article: "Legal expert: The arrival of the budget to the Presidency of the Republic is considered approved even if it is not approved by the President" Quote: "based on the provisions of Article 73/III of the Constitution, which stipulates that laws enacted by the House of Representatives shall be ratified and issued after fifteen days from the date of their receipt."
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy The deletion of the zeros off the currency has nothing to do with the exchange rate. These are two different issues altogether...they just want to delete the zeros off the currency. That's it. Nothing more. Nothing less...Understand 'delete the zeros' is more of a psychological thing for the citizens. That's all it is...Now that things are getting back on track we're going to see the deletion of the zeros...So before the redenomination, 1000 dinars cost to buy an apple. After they delete the 3 zeros/redenomination you could buy the apple with 1 dinar. That's all this is...it gives the impression the currency is strong and has nothing to do with the exchange rate... That's called a LOP, Pimply..! If you recall, Shabibi said there would not be any LOP..! MarkZ Question: I wonder if the Kurdistans paying their employees back salaries on June 18 means the RV must go before then? Mark: it appears we will see it most likely by then…but, nobody knows for certain. We are all guessing at this point but, it would make sense... Paulette The budget value is the same at 1300 as it would be at 1-1. It is based predominantly on oil sales denominated in USD. It is just the amount of IQD that differs. The rate is just a number to the currency value. $1,000,000 USD value of IQD at 1300 is the same as a $1,000,000 USD value at .25. It is still $1,000,000 value. The value is the same but the amount of IQD is the only difference. It is just a number tally system. Militia Man Think about it - What's it going to take to rebuild a war torn country? At 1310 there's not enough dinar in the world to do so. You can do all the math calculations you want but their budget's not going to work at 1310. It's just not going to 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 Militia Man Investors do not want to come into Iraq at an official rate of 1310, to not have the freedom of capital movement. They [GOI and CBI] have been able to create that environment so when they have the process to change the exchange rate it's ready to go in a moment's notice...They don't say what day/what moment but they do tell us they have a specified time frame and that time is of the essences... Mnt Goat I had an interesting conversation with my CBI contact...I was told that the IMF, World Bank and the US Treasury has given the “green light” to reinstate the currency and liberate it back to the foreign currency exchanges A.k.A. FOREX. What does this mean? This means, as I was told, that they plan to move ahead with the redenomination beginning this week in preparation for FOREX...once they do the “project to delete the zeros” they will first monitor it for inflation for a few days or more. We just don’t know. Yes, they will have to change the rate close to $1USD per dinar inside Iraq first and see what happens. This may go on all next week even so be patient or it may not be so long. Frank26 Article: "The Iraqi Trade Bank and JPMorgan are discussing the development of banking operations". CHASE TOLD THE WORLD THE IRAQ DINAR IS A SCAM... NOW THEY TELL THE WORLD IT'S THE GREATEST CURRENCY IN THE WORLD. MarkZ Article: “Government movement to fulfill the requirements of iraq’s ascension to the World Trade Organization.” This is enormous. There is something very important they need to have to be a full member of the WTO…they need an international fully accepted currency. It is here in print…This means reinstatement or revaluation…not a float. Iraq is moving quickly.
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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: They say on the news the exchange rate is set to the budget for oil exchange is at 1300 dinars...that is a completely different exchange rate than what we had yesterday. 1320 was before the budget was given to us now that the budget is finished we're seeing 1300 to 1. FRANK: If that's what they are intending to do, that would be pointless because the exchange rate of 1300 would only give you pennies for the HCL. Remember, the exchange rate can be changed at the flip of a switch and back to January 1, 2023 when they determine it. Clare Article: "Chairman of the Securities Commission, Faisal Al-Haimus: Forex and trading in oil, commodities and international companies are prohibited in Iraq" Quote: "The Chairman of the Securities Commission, Faisal Al-Haimus, revealed that the next two months will witness the arrival of the Securities Law to the House of Representatives...the law will give the authority the legal support and tools to carry out its work properly. And its approval will lead to a qualitative leap in the work of the Iraq Stock Exchange." Walkingstick Everything we are seeing in the budget being shown to the citizens of Iraq...is an impossibility without a new exchange rate to match the reforms. 1300 was simply to carry it over into a new budget. Mnt Goat I feel we have been in a critical period of the currency reform program since January of this year. Now we are in a “vital” period since the three-year budget has been passed on Sunday June 11th. Anything could now happen and is going to happen. In fact, this week could be pivotal. Pimpy Article: "The government expects broad stability in the dollar exchange rates in the coming days" People out there saying, 'Oh, this means they're going to change the exchange rate.' They might or they might not, but people should not get excited and expect the exchange rate to change. I'm not saying it's not. What I'm saying to you is this - hang tight. Slow down. Be grounded. Wait until we hear 100% for sure that the exchange rate is going to change. They will not provide ANY information that the rate is going to change, They will simply make the change, then announce it..! Everyone will be caught off-guard...JMHO..! RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: JP Morgan is working with Iraqi Trade Bank...FRANK: JP Morgan is in Iraq and they're meeting with every bank that is in Iraq and then the governor of the Central Bank of Iraq says to all the banks you have to open more branches...I'm impressed. The #1 bank in the United States of America talking to every bank in Iraq. At this point it's logical they should. JP Morgan wants to take the Iraqi dinar on its back...where are we going? The International world. We're going to start on Forex...Wow...Can you say bye bye to the sanctioned rate? FIREFLY: We understand that and it's all been on television all day. Kaperoni More good news...everyone was wondering what's going to happen now that they pass the budget? Well it seems the next process for Iraq is for Parliament to pass a new Securities Law...Over the years we've talked many times about Iraq needing a new Securities Law in order for them to open their private sector internationally, trade and support the private sector...New Securities Law...should open the door for Iraq to float their currency. MarkZ The Iraqi people believe there is a revaluation imminent...Let’s talk about rates. We are seeing rates all over the board in Iraq. …The official rates have not changed yet. Iraqi people are holding onto their dinars…they are getting rid of US dollars and other foreign currencies and hanging onto their dinars. After the passed the budget in Iraq they wanted to see the dinar grow stronger. It seems the dinar is substantially stronger than the official CBI rate right now...Where in the world do you get that BS information Markie...The street exchange rates and the Al-Kifah Stock Exchange rates indicate that it's far weaker..! Militia Man Budget '23,'24,'25 Approved. Hasn't yet been signed by the president of the Republic. He's not in Iraq, but in Europe..!
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV keeps talking about the next 2 month the securities laws will allow all kinds of trade and Forex transactions. FRANK: Forex transactions is the reason why Chase Manhattan is now involved with the Iraqi dinar. It is part of the international float. Every day you get closer and closer to the announcement of your new exchange rate for your new national currency. So lets all stop speculating when the new rate will be released, and sit back and wait till the Securities Law is passed. And we can hope were surprised before then..LOL..! RON MarkZ Article out today and the President of Iraq is back in Iraq from a European tour. In a nutshell the President who has been out of country but needed to sign off on the Iraqi 3 year budget. He is now back in country…and he is expected to sign the budget so it is fully implemented tomorrow.
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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 ...I was told by my CBI contact they must get the budget passed first, then ratified. I am hearing from my CBI contact that it does not have to be in the gazette, but that to get the green light for the reinstatement they need it passed in parliament and ratified. The Kurds must be happy! ...All I can say now is … Get that champagne in the frig! MarkZ The reports coming out of Iraq…the official rate is around 1310…. So a US dollar officially will buy 1 thousand 310 dinar…well that was true a few days ago. ...In the “parallel market” today [Wednesday] …and what they are seeing in the streets...is a rate of 1050…so one US dollar will only buy one thousand and 50 dinar. This is enormous news and coming from several regions in Iraq. This means it is stabilizing and correcting itself quickly. How the CBI responds to this will be interesting. That is almost a 10X change in value in 3 days. That is stunning progress out of Iraq. I have no idea where this clown Mark gets his information from, but here's the latest from Shafaq News: Our correspondent indicated that the buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 148,000 Iraqi dinars, while the purchase price reached 146,000 dinars for every 100 dollars. From Midnight Wednesday Frank26 Everybody, everyone, all banks around the world, they're not stupid. They're not throwing their money in a bottomless pit. They're throwing it in a county that is about to have a monetary reform explosion and you're seeing the shadow of the monetary reform explosion. And you know what that shadow is? The economic reform...the shadow of the economic reform is growing so big...that's why you should feel good, even with a recession looming over Iraq...the United States of America. There is a rescue... Walkingstick We've told you many times there's an announcement on the [New Iraqi] ATMs to the citizens basically saying, 'Hey, look, these ATMs right now are closed but coming soon you to you Iraqi citizens they will be open to you.' They are not activated. They are not turned on as of right now. Kaperoni Iraq truly cannot become the economy they want until they have created the conditions. This takes work...The passing of the budget to be some significant event for an RV. Not true! Monetary policy is not a random act. Until Iraq diversifies their economy and begins to have significant Improvement in their GDP nothing will happen with the dinar. GameofPatience Comment "The CBI changes the rate not the HOR" Iraq's budget is calculated off the currency value. So it's actually a coordinated effort between CBI & GOI. If the rate were to change, it requires the House of Reps to amend the budget changing its figures / calculations.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Kaperoni This is a very good first move for Iraq now that they passed this tripartite budget. It gives them a 3-year window to begin to diversify away from oil.
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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 Babysmom THE PRESIDENT OF THE REPUBLIC HAS NOT SIGNED THE DOCUMENT. HE MUST SIGN THE APPROVED BUDGET IT THEN GOES TO THE GAZETTE FOR PUBLICATION. HOWEVER THE CBI CAN CHANGE THE RATE ANYTIME THEY WANT. THE PRESIDENT OF THE REPUBLIC HAS 15 DAYS TO A FIX HIS SIGNATURE. THE PRESIDENT OF THE REPUBLIC IS STILL OUT OF THE COUNTRY IN BOLOGNA [ITALY]. ON FRIDAY THERE IS A LARGE CONFERENCE WHICH WILL BE HELD IN I BELIEVE LONDON AND THE TITLE OF IT IS, "IRAQ OPEN FOR BUSINESS". THIS IS QUITE GOOD NEWS... Walkingstick The exchange rate can be flipped liked that [snap]. 1320 to 1300 - you didn't even see it. If they want to go from 1300 to whatever other rate like that [snap] it can be done and it shall be done and it will be done. It is a fact even though this fact is IMO. The exchange rate can be flipped quickly because the RV calculation phase already has the numbers for the budget at any moment. MarkZ Question: What is your take on PPN Dallas saying he got an internal memo from Chase bank to all wealth managers? Answer: I got sent that memo several times as well…that they are expecting a lot of new millionaires over currency stuff…. I think it is accurate. I think it is true. I just don’t know what it means for us on timing. But, our best days are ahead….This is pure BS, because I have multiple Chase Accounts with significant holdings, and there has been NO word from my wealth managers in Las Vegas or in Florida, with whom I have close relations and know I hold a substantial quantity of IQD..! RON Pimpy There was a change to the exchange rate. Yes you heard it. They changed the Iraq exchange rate. Sure enough it was in there and yes it went in the right direction. Article quote "...the budget set the exchange rate for oil revenue in US dollars at 1300 dinars per dollar." So we shaved another 20 dinars off the exchange rate. I know 20 dinars is not that big of a deal but anytime we're taking a step in that direction I'm going to celebrate it no matter how small...Keep removing the amount of dinars you get per dollar, that's what we want...like I said it's going to happen in increments. Hopefully a much bigger step next time but I'll take it...take the W and be happy with it.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Nader From The Mid East With it's approval, the budget now awaits the signature of the President of Iraq, after which it will be sent to the Gazette to be enacted into law... MarkZ Pretty Quiet on the RV front. We are still hearing great things out of Iraq. Clare Article: "International Monetary comments on Iraq's budget and re-warns of inflation in the currency" Quote: "international monetary concern is due to fears that large government spending will lead to"inflation" in the Iraqi currency, which in turn leads to a spiral of economic deterioration affecting the future of the country" Pimpy Oh yeah! It's done. Finally. A 3 year budget has finally passed the House of Representatives. Is this a good thing? Is this a bad thing? It really depends on the government that's in place. Now we're going to see Maliki and his people's true colors come out. The budget has been passed. They don't have to kiss anybody's butt. The money has been allocated. This is definitely going to be interesting and this is what I've been waiting for. Let's see this government's true colors. Mnt Goat ...we are in a “vital” period since the three-year budget has been passed on Sunday June 11th. On Tuesday it was announced that the approved budget would [go?] to the president to be ratified. So now we sit and wait. Literally, anything could now happen and is going to happen very quick from this point. In fact, this week could be pivotal. Frank26 What's the first line item in the budget IMO..? The exchange rate. They changed the rate...it was 1320...what is it now? 1300. Remember what I suggested? ...1200 to 1. Firefly's bank friend thinks it's going to get to 1000...I missed it by 100...that's huge. That's exactly what we told you was going to happen. It's positioning itself to expose the full monty...they're soon to show you everything. Kaperoni I want to remind everyone despite the fact that Iraq past a 3-year budget yesterday, Iraq still has a lot of work to do. Parliament needs to pass several laws to encourage and support investment. Samson Article: "Al-Hakim: Urges the House of Representatives to proceed with the entitlements that follow, such as the oil and gas law and other laws that have direct contact with the lives of citizens." Paulette Finally! I have waited nearly 14 years to see what just happened...Stage is set. Bring on the Oil and Gas Law NOW!! The underlying basis is established by the Tripartite Budget...The arguments and fight should be over... Militia Man The 2023, 2024, 2025 budget having been very contentious took about 4 days to finish the reading and getting it done...but they were successful...it was about 5 in the wee hours of the morning they finished it and hammered it out. What they're going to do now from that point on is they're looking to proceed with the entitlements that follow the budget which is the oil and gas law.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Article: “Monday Briefing: Iraq passes a massive controversial budget bill” It is massive. They have the dollars for it and it requires oil stays at about $70 a barrel. They have the mechanism in it to change the value if their currency. Frank26 Apparently they are done with the budget. It's a tripartite budget...It's not just for one year, it's for 3 years. That's amazing. I don't think Iraq has ever seen a budget, I mean truly truly seen a budget open, disclosed and shown to the world, and to the citizens in probably 50 years...has it been shown to the world? No. But it's going to be. RVAlready Iraq got a lot done. They have a modern budget. They have a POS system. Their markets are internationally linked. They are less dependent on paper money. They are ready for new projects. It took quite a while, but all that is done...Don’t forget, the CBI can release the rate any day.
