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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 All I want to know is what's inside of that piñata [budget]. It's loaded. What's inside of this cornucopia? ...I don't know but I hope it's a new exchange rate. I hope it's a launching point to a new exchange rate. Sandy Ingram Article: "Customs achieves the highest revenue rate during the first quarter of 2023" Customs department is proving to be a high stream of income for Iraq in he first quarter of 2023. Revenues amounting to more than 214 billion dinars from custom duty collections. This equals around $163 million US dollar. Now for some of Mark's exaggerated info..! MarkZ There is ...a lot of talk in Iraq about “Iraqi Parliament votes on largest financial budget in country’s history” ...its scheduled this week along with the HCL. My sources say HCL has already started. We are hopeful for a very exciting news week…including rates.
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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: "Kurdistan in Baghdad's footsteps: Demands to use the dinar exclusively in the real estate and car market" This is a big move. If you want to boost the confidence and value of your currency you really have to get out of the habit of using dual currencies. We know over in Iraq they use Iraqi dinar as well as the U.S. dollar. People trust the U.S. dollar more than Iraqi dinar. If you take that option away from them and force them to start using the dinar it will strengthen the dinar especially in the exchange rate against the U.S. dollar. How does that work? [Post 1 of 2] Pimpy If you're in the country and people prefer the US dollar they're willing to give up more Iraqi dinar to have the U.S. dollar. That's why there's a black market out there. That weakens the dinar. If you restrict the use of U.S. dollars then that means the demand for US dollars will decline and the demand for dinars will increase. This will give the value more to the Iraq dinar...I would love to see Iraq take the same approach that Russia has which is demanded everybody use Iraqi dinar to make purchases. This will seriously strengthen Iraqi dinar...[Post 2 of 2] Militia Man Why are they hiding the vote? Why are they hiding the 2023, 24, 25 budget if they're going to come out at 1310? ...It doesn't make make any sense...the 17th was suggested that they're going to have the vote...we all believe there's something that should happen from the CBI prior to that happening. 5-15-2023 Intel Guru Frank26 We need to see another movement on the exchange rate - maybe 1100 or 1000. That's rather important. Will they do it just before they announce the budget? Will they do it after they announce the budget? ...lets see what happens by the end of this week...it has great potential for our investment no doubt. But what level is it taking us to? Clare Article: "Planning: The Iraqi private sector is starting to feel its right steps, with great investment opportunities" Quote: "One of the priorities of the government program is to support the investment and service movement in Iraq, by supporting and encouraging the private sector and investment."
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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 As soon as we see the budget all hell is going to break loose... there will be another exchange rate announced. It will be around 1000 or 1100...in preparation for the float. And just where did you get this information Frank, or is it just another one of your opinions that you declare as fact..? Pimpy Money Laundering is a big issue for Iraq. If your government can't stop laundering money, you're going to stay on a so-called blacklist. Your money will never be traded internationally because nobody's going to trust you. Once again people have found out Iraq is funneling money to Iran, money laundering it. They find new, different ways and because of that the US dollars received are restricted. And because of that restriction it causes a huge black market and causes their currency to devalue.
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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 Yada Im of the mind that we are going to see this rate release just before they pass the budget...The rate is the driver of the budget, not the other way around..
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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 governor of the central bank is openly talking about a delegation of experts from the International Finance Corporation. Why is he talking about the International Financial Corporation if he's coming out at a program rate (that I call it) or the official rate of 1310? It makes absolutely no sense whatsoever...they could have done it at 1310...1460...1166 and never did.
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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 Henig Article: "International Monetary Fund: Iraq is third in the Arab world in terms of exports of goods and services last year" Quote: "Iraq exported goods and services in 2022 worth $ 140.7 billion, which increased from the years 2020 and 2021, which amounted to $54 and $ 94 billion, respectively...Iraq came third among the Arab oil-producing countries with the highest value of exports of goods and services after the UAE and Saudi Arabia"
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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 so many rumors out there when it comes to Iraqi dinar that you'll go insane, you'll pull your hair out trying to figure out what is BS and what isn't. The best I could tell you is listen to all the different news, don't get your hopes up about it, take everything with a grain of salt and watch what they do not what they say. Stay grounded and you'll be just fine. Wise words..! Yada Now the UN, IMF, US, World Bank, and even the CBI know the GOI can no longer stop the process. Best analogy would be the pitcher has sent the pitch and it is on the way to being received by the catcher. Pitcher is Iraq and the catcher is the rest of the world. Iraq can no long stop it, it's out of their control...I strongly believe we are in the last weekend of being broke...This would be great if it is true...only time will tell..!
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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 Article VIII compliant currency at this time. They're just not. And they're not going to be at 1310, which they are officially. They are going to do something different...IMO. We're all going to be paying attention to that. Frank26 Article "The Central Bank organizes a workshop to activate the mechanism of buying and selling real estate through the banking sector" THESE WORKSHOPS/MECHANISMS, HAVE NEVER BEEN OFFERED TO THE IRAQI CITIZENS. UNTIL...NOW. Nader From The Mid East A lot of questions like, 'Hey, the rate in-country do we have to travel to Iraq to change our money?' First... whoever has millions of them, my opinion they're not gonna let you travel with all that money...to change it in Iraq erase it...forget it completely. Second, when the rate changes...if the one is on Forex and if it's international in Forex the banks have to buy and sell it especially if it's stronger than the dollar. Pimpy We've been monitoring whether or not they're going to pass the budget as well as conclude and finally sign the oil agreement between Kurdistan and Baghdad...definitely the budget is important for many reasons... MarkZ We look at the progress they are making on electronic transfers, the ability to exchange, change value electronically and streamlining the process has been just awesome...Iraq is doing everything it needs to do to go with or without the rest of the world. They are telling us it is going. We don’t need to guess at it - just listen to their own words. I don’t know where we are at timing......but I do know that my contacts in wealth management are extremely upbeat...... Guru Clare Article: "After a hiatus of more than 12 years.. The Textile and Leather Company announces the resumption of work" Quote: "the process of tanning raw leather extracted from sheep, cows, and goats has begun, and has been transformed into leather prepared for the manufacture of shoes, bags of various kinds, leather gloves, and belts, in addition to leather requirements for institutions and security services of all kinds."
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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 Article VIII compliant currency at this time. They're just not. And they're not going to be at 1310, which they are officially. They are going to do something different...IMO. We're all going to be paying attention to that. Guru Clare THE BUDGET HAS BEEN APPROVED. THE 3RD VOTE IS A FORMALITY THAT WILL MAKE IT LAW. WHICH THEY ALSO REFER TO AS APPROVAL, BUT IT REALLY MEANS MADE INTO LAW- TO IMPLEMENT. IF THEY WERE NOT GOING TO AGREE TO PASS IT INTO LAW, IT WOULD'VE BEEN SENT BACK TO THE COM... WHICH IT NEVER WAS. THE PARLIAMENT SESSION WAS SUPPOSED TO END ON THE 9TH OF MAY - THEY ALREADY EXTENDED THE SESSION TO HAVE THE 3RD VOTE ON THE BUDGET AS PER ARTICLES.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Article: "Anti-money laundering and terrorist financing scenarios" Quote: "anti-money laundering and terrorist financing systems have been prepared, which are compatible with the financial work environment in Iraq, and the agents of (Western Union) and (Money Gram) can adopt them as a minimum for their electronic systems". THE CBI HAS MANY PLATFORMS TO USE AS MECHANISMS FOR THE NEW EXCHANGE RATE & NATIONAL CURRENCY! MarkZ Article: “Port rehabilitation in Basra is complete- From Iraq’s Transport ministry” Funded by funds coming out of Japan. This was a massive upgrade to the port there. Guys- they don’t need ports like that in a third world nation. But they do need ports like that in nations that are moving products, consuming products…. This is another article showing Iraq is up and moving and it currency will soon follow...I am praying this is our week... Pimpy There is some chatter about there being a new rate inside the budget. Just so you know that every time they talk about a budget that kind of chatter comes around...Here's what I say to anybody and everybody that hears that rumor...First, stay grounded. Second, just because they say that, that doesn't mean it's going to be in there. It doesn't mean it's not going to be there but what we're looking for is for it to actually be in there.
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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: “The governor of the central bank of Iraq receives experts from the international Finance Corporation“. They help nations do big projects…they see Iraq will be a massive player in the region and worldwide…. Iraq is moving forward on the world stage which means they need to have a more meaningful currency as well.
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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 They told us it's not going to happen [voting on the budget] until potentially the 17th. It's not very far off...they're gonna have a vote on it. Frank26 My prediction is that the 17th will reveal the budget. Will it reveal the new exchange rate? I don't know. But it will reveal the budget and the budget needs a new exchange rate. The citizens of Iraq need their new national currency, the lower notes and coins, and the new exchange rate for it...Right now the monetary reform is explaining how they are about to do all this and then float...
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Clare Article: "Apple to launch first online store in Vietnam" Quote: "Apple will launch its first online store in Vietnam next week, the company said Friday, hoping to cash in on the country’s young and tech-savvy population." Not Iraq news, but worth posting in any case..! Sandy Ingram The Central Bank of Iraq's website...you will find gold coins and nuggets that you can purchase using your Iraqi dinars. Gold is universal. You can exchange your gold for any currency in the world. International travelers travel with gold all the time, including myself, as long as the value of the gold is under $10,000 we do not have to declare it. Gold coins is one of the best ways to ensure you are liquid regardless of what the global economy does... Samson Article: ”Mr. Hakim to the American Ambassador: Iraq is experiencing an unprecedented state of stability”
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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 ...since January of this year...it has been absolutely amazing with all the changes made so far in the currency reform process. ...They have been moving ahead very aggressively with this process now. This is all fantastic news...so don’t get discouraged. The CBI is working towards a target and they are doing it with the full support of the GOI. This in itself is good news. Why do we keep seeing June 1st deadlines? Is June significant for some reason… hint, hint...[post 1 of 2] Mnt Goat There are many rumors floating around that the Reinstatement could happen any day now. Yes, I believe as we get closer and closer to June 1st we could actually see an end to this RV saga. There are all the signs of the progress that Iraq needed to make to allow the CBI to go forward with the currency reform program thus reinstate the dinar on FOREX and redenominate the dinar in this process. [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 Pimpy When you go through the news in Iraq all of it is talk about the budget. When it's going to be done. When they're going to vote on it. What is the holdup. I think where people are misunderstanding is it's not just one year. They're not trying to vote for a budget for 2023. They're voting for a budget for 2023, 24 and 25. It's not that easy. The committee had the budget. They look over it, they make their adjustments, they then send it over to the House of Representatives who...put their changes they want, they send it back to the committee and it goes back and forth like a boring game of ping-pong. Sometimes it happens really quick and they agree on the same thing. Other times times it doesn't... they're going to keep going back and forth. Clare Article: "The Sudanese advisor comments on the return of the dollar's rise: gangs are the reason" Quote: "Salih...organized crime gangs took advantage of (electronic) travelers' cards. These gangs illegally and legally use citizens' passports in order to issue electronic cards and smuggle them out of Iraq in order to finance black transfers and smuggle money."
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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 If these demonstrations happen today, Tuesday, I'm feeling that since Al-Sudani came out last night, he may have tamped that down. Because why? ...Because he's the one that said the dinar was going to be stronger to the dollar. I think the citizens believe in him and I think he wants to live up to that expectation...If they take to the streets it could be serious, it could also be something that's celebratory. We're going to have to watch and see...
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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 Al-Sudani's Quote: ''We reassure the citizens not to acquire the dollar because the dinar is the strongest." Those are his words. They're not mine. That was on April 17th. Fast forward it's about 3 weeks what was his statement, Quote: ''The Iraqi dinar will rise against the U.S. dollar in the next few weeks.''' Fascinating.
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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 Deepwoodz I know the expectation was 1:1 and now maybe 1:1.50 but I wouldn’t be surprised with all the build-up that they come out guns a blazin of 3+:1. Walkingstick The CBI took out a tender which we told you about 2 weeks ago. The tender bid is for the new small category notes. They will also have to be paid in IQDs. This tender was accepted. It was fulfilled. It is complete in the national currency and the contract was just paid in Iraqi dinars. MarkZ Iraq: They have announced that they are going to do the third reading of the budget and vote on it on May 17th- next Wednesday. I expect things to go before that.Why? …because I am hearing its already approved after the second reading automatically once you hit a certain time frame…and that’s how they were able to send the dollars to Kurdistan this week. It has already been approved twice with no objections. I believe they are giving us that date to look over there and IMO we should see the announcement between now and then. Sandy Ingram Article: "Iraqis Fly to Nearby Countries to Get Dollar as U.S. Cracks Down on Money Laundering" ...As the the US tries to stop the illegal flow of dollars into Iran, local money traders next door in Iraq are finding new ways to get hold of greenbacks as the local supply dries up in Iraq. They are flying to nearby countries with stacks of bank cards to withdraw hard cash...At least 24 Iraqis carrying around 1,200 bank cards loaded with more than $5 million have been arrested...On Friday authorities detained another Iraq traveler trying to sneak out 300 bank cards in cigarette packs at the international airport in the central Iraqi city of Najaf... Pimpy Article: "Iraqis Fly to Nearby Countries to Get Dollars as U.S. Cracks Down on Money Laundering" Here's where the problem lies. When your government is allies and backed by Iran where do you think this government's loyalty is going to go to? It's going to go to Iran. It always will. Until this type of government is removed there's always going to be a problem...Money traders next door in Iraq are finding new ways to get a hold of greenbacks as the local supply dries up... Clare Article: "Sharq: The collapse of the Tehran Stock Exchange caused a fifth of the liquidity to evaporate within two days" Quote: "...the significant decline in the Tehran Stock Exchange markets during the past few days as "amazing" and "shocking", as the equivalent of a fifth of the country's cash liquidity evaporated in just two days."
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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 are still waiting for the 3-year budget to pass in parliament and for them to open it. I don’t care what rate is in it since they have told us the rate is flexible and they designed the budget accordingly. Of course, the higher the cost of oil the better.
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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: "The Council of Ministers decides to increase the capital of the Rafidain Bank and to pay Iraq's share in the World Bank" Quote: "the Council approved, Within the course of financial and economic relations with international financial and banking institutions... Ninety-eight million nine hundred and twenty-five thousand six hundred and forty-two dinars in cash, after the approval of the Federal General Budget Law for the year 2023, taking into account the new exchange rate, between the date of the claim and the date of payment." WOW...! Exciting News...!
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Article "The Council of Ministers decides to increase the capital of the Rafidain Bank and to pay Iraq's share in the World Bank" Quote "after the approval of the Federal General Budget Law for the year 2023, taking into account the new exchange rate, between the date of the claim and the date of payment" FROM THE CORRECT HORSES MOUTH... TAKING INTO ACCOUNT THE NEW EXCHANGE RATE... WELL ALRIGHT, ALRIGHT THEN! Clare Article "Al-Sudani surprises the ministries with 3 work shifts to complete the projects" Quote "Based on the approval of the Prime Minister and for the purpose of accelerating work on all projects to take what is necessary by instructing that work be done in three shifts to ensure speed Completion of projects and increase the employment of manpower." Pimpy Article: "International Monetary Fund Expects Iraq 's External Debt to Fall by $1.2 Billion" It's really been amazing to watch Iraq pay off all their debt both external and internal and they're doing it in huge leaps and bounds. That just goes to show you if they didn't have all these fines and things they had to settle out of court and pay, like Kuwait and anybody else, and they had these external debts paid off this country would be a very rich country...
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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 {CBI's private bank meeting minutes continued} [8. Currency swaps with many countries in motion.] It means the international community, the investors of the economic reform, finally have faith, have confidence, like the citizens do, in the CBI and the prime minister of Iraq. These IQD swaps are being done right now electronically. They are not being done physically...at this point of the monetary reform they are swapping with all the banks around the world the new national currency electronically. Why? Because the tender is for the citizens inside Iraq when they exchange. And because you do not want to flood the market back with 3 zero notes. [Post 8 of 8] Militia Man There's apparently lesser demand for dollars in the parallel market now and the exchange rate is going to go up. The electronic platform is working its magic...the nefarious folks that are doing a dollar exchange outside the platform they're going to find it tougher and tougher...
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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 2 important articles out of Iraq today Article: “Kurdistan Region Finance announces the release of 200 million dinar from Baghdad” and Article: ”Kurdistan regional government to start distributing April salaries next week.” For that to happen it means they have the funding from the budget and the HCL…as we understand it. And this means this thing will be completed. This is a good indicator as to what to expect timing wise. Sudani has told us that the dinar is ready to be the father of the dollar- meaning it is going to be worth more. This is all over middle eastern news...that the value of the dinar is about to change. There is no keeping the cat in the bag anymore. We are very close to the end of this thing. Frank26 [Iraq boots-on-the-ground report] FIREFLY: They're back on channel one saying it will be weeks now that the street rates should match the official rate...they went from weeks to soon and now they're back to weeks again...FRANK:...Rumors are rampant. One minute they say one thing, the next minute they say something else. That's why we tell you only pay attention to Sudani and the governor of the CBI...
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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 call my CBI contact almost every Saturday and get the full scoop of what is really happening in Iraq and the efforts of the CBI. Since we have NOT heard of any official word of progress about the redenomination process it is not yet happening I can assure you. However, we can sit still and know it is still in the plan because I know it is and it has to happen sooner than later, just not yet.
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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: Bank friend says he thinks they are finishing up all the loose ends and soon we will see a change in the rate. He personally think with everything in dinars now it's so close and that we probably will start at $1.50 and float but who knows it could be more... FRANK: I agree with him 1000%. He is spot on. GameofPatience Iraq is implementing new banking reform steps IN JUNE to control their citizens and their money (POS, Cashless, Financial Transactions in front of their government)...These steps in June REQUIRE their currency to be TRADEABLE & RECOGNIZED AROUND THE WORLD. Didn't Iraq recently state the back wall for the budget was at the End of May (3rd reading comes after the rate change)! Pimpy In case you're wondering why it is that they might change the exchange rate... - To have more purchasing power. If they're importing a lot of goods...this would help the people stretch their means out. This would allow them to purchase things a little cheaper because the purchasing power of the dinar would be a little bit stronger... Walkingstick {CBI's private bank meeting minutes continued} [7. IMF, AMF, EMF rolling in again] International Monetary Fund, Arab Monetary Fund and the European Monetary Fund these three are escorting the Iraqi dinar, the central bank's new exchange rate and their new currency to the International platforms, to the world. [Post 7 of 8]
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