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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 Article quote: "Iraq joins FEMOZA" It's the World Federation of Free Economic Zones. Why is this important? Iraq has accession to this...We have the accession law to join the European Bank and now we have the accession to the World Free and special economic zones federation...Both of these entities are about finance and building new industrial cities. If you don't think Iraq is going to go international, you might think again... Frank26 Article: "Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House On April 15" SUDANI IS NOT GOING TO DC TO GIVE A NEW EXCHANGE RATE... HE IS GOING TO ACTIVATE IT! Mnt Goat Wars, displacement, and sanctions have left Iraq’s economy underdeveloped and almost solely dependent on oil exports. But things have changed in Iraq and come this mid-year 2024 we are about to see the results of many years or reforms in an explosion of progress in many areas of development in Iraq. You see, all these reforms we all have been reading about in the many articles are all good but unless Iraq actually sees any impact they are meaningless. Oh…but we are about to see the impact and it is going to be HUGE $$$.
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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 "Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House" Quote "On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq." Frank26 When this blessing occurs don't run to the bank. Don't trip over yourself and others. Walk. Take your time. Learn. Look. Ask questions. Learn from other's mistakes. That's what a wise person does. Don't run to the bank. Take your time and understand exactly what you're doing. Pimpy Community Comment "Pimpy needs to understand outside investors of Iraq have absolutely nothing to do with project to delete the zeros. Our 25,000 note will be 25,000 note in America." I'm guessing you think that if they re-denominate the currency inside of Iraq and they change the exchange rate to $0.76, I guess you thought we could take the old currency and exchange it for the current exchange rate. That's not going to happen. I'm telling you right now that's not going to happen...25,000 dinar would be equivalent to the 25 dinar...What Iraq does in country to its currency affects the currency worldwide.. MilitiaMan Article Quote: "Al Sudani of Iraq to the White House to coordinate common priorities and reinforce the strong bilateral partnership between the United States and Iraq. The leaders will reaffirm the commitment to the Strategic framework agreement..." I like that part they will reaffirm it so in other words, if they reaffirm it as it is the United States isn't going anywhere... Quote "Al Sudani of Iraq to the White House on the 15th of April." Frank26 The only thing we're waiting for is the new exchange rate. The HCL is waiting for the new exchange rate. Jeff Article: "The White House announces the date of Sudanese's visit to Washington" Three articles tell you that on April 15th Iraq's prime minister Sudani will come to Washington DC to meet with Joe Biden and US official...Iraq has just officially give you the rate change date in these articles. No it is not April 15th. April 15 is not your rate change date... (Kuwait March 24,1991. Sunday.) Samson Article: ”Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House" Quote: "On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq." Clare Article: "For the first time, dollarization decreased by 20% in Iraqi markets" Frank26 You're not going to hear to much more about the 'deleting the dinars'. You're going to hear the word 'thinning' a lot...That's what they're using with the Iraqi citizens. They are thinning out the amount of dinars in the street. They are thinning out the zeros in the exchange rate. The CBI is already doing it. Mnt Goat Article Quote: “...Iraq will leave government cash dealing and switch to 100% electronic collection in mid-2024.” So, by reading today’s article on the surface it seems that Iraq would be doing away with all paper currency as they said “switch to 100% Electronic collection by mid-2024”. But I assure you this is NOT the case... it does NOT say they are doing way with cash altogether, as the Dr. Shabibi plan that I know and have been following very diligently does not indicate this either...this will be a huge milestone in the banking reform process...Iraq has been struggling to get the electronic payment process completed and now they are telling us it will be completed by mid-year 2024. WOW! WOW! WOW!
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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 Prime Minister is going to Washington DC ...He's going to talk to the U.S. Treasury about the new exchange rate...He's talking to it with everybody. Fnu Lnu On the issue of Old Notes (circulated) versus New Notes (uncirculated) I can tell you this. The "Oil for Dinar" program (a Paris Club item - coalition countries) is very real and those are called Private Placements. They require ONLY uncirculated notes to participate. Otherwise, if you aren't in such a Private Placement exchange then it doesn't matter at all. Also, new uncirculated notes of certain serial numbers are going to be used as Bonds. The new Dinar have all the info needed to be used as bonds and it was planned this way before the new notes were printed. They will be used on the unregulated trading platforms in Shanghai as part of certain trading packages. (Interesting...!) MarkZ I think things are in a mad dash to the finish line… We have an impending visit from Sudani here in the Us... We have Sudani on Friday mentioning the rate of $1.32…which is very specific... Comment: The $1.32 rate is actually .76 cents US for each dinar…. Al Sudani promised the Iraqi people the dinar would be stronger than the dollar. . 76 cents is NOT stronger. Mark: They may be floating the rates of $1.32 and .76 cents to get people ready for a change. I still think it will be more in the $3 or $4 range…but I could be wrong. IMO $1.32 and .76 cents rates would still be fantastic.. Pimpy Everyone is excited that Iraq has completed all the requirements to join the World Trade Organization but the bigger question is what's next for Iraq? ...There's this impression going on around the Iraqi dinar community that this is going to happen next week or next month. Is this true or could the process take longer? ...What's remaining for Iraq? Approval by the general council...which is composed of all WTO members. ...As of now they don't appear to be on the calendar to be voted in...We got between now and June to see if indeed Iraq is added to the calendar...unless for some reason the WTO holds a special session... Militia Man Article: "Parliamentary Finance: The federal budget is in the corridors of the Council of Ministers, and there is no specific date for sending it" Quote: "On June 12, 2023, the Iraqi Parliament approved the tripartite budget law for the years 2023, 2024, and 2025. Last year’s total budget amounted to 197 billion dinars, which is the largest in the country’s history." Take note that they used 197 Billion Dinars. That is a little over $150 million USD at the current exchange rate of 1,310 IQD... Seriously? I do not think so, unless they have done something we have yet to 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 Frank26 Question "Are the Saddam dinars worthless?" Yeah, they're worthless because they're no longer recognized by anybody. Pimpy Think about it. The current Iraqi dinar of 25,000 dinar - they delete the zeros off, now becomes 25 dinar and then all of a sudden they change the exchange rate from where it is to $3.22 per dinar. This is good for the Iraqi people, their purchasing power has changed. They can get a lot more things bought with their money. But that doesn't help us because they lopped the zeros off...so instead of getting a $3.22 rate against a 25000, we're only going to get that $3.22 rate against a 25 dinar. Instead of getting millions you get thousands...At least be aware that that's possible. Kaperoni If Iraq is unable to achieve diversity they will have no alternative but to simply just delete the zeros (LOP) which is a neutral event reducing the currency from around 80 trillion to 80 billion dinar. Any exchange rate gain would be minimal as a result. Sandy Ingram There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want. However, there is a catch. If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection. This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"...What happens if you don't report more than 10 thousand dollars in cash? Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry. Walkingstick The closer it gets to the reinstatement the more they will tell the citizens concerning the monetary steps...There's nothing like facts being told to the citizens with confidence. Frank26 [Iraq boots-on-the-ground report] FIREFLY: When it floats it's going to go up really fast. The demand is going to be big on our currency...This thing may have the ability to reach $4.25...probably they will cap it out and go back to settle just a little ahead of Kuwait... FRANK: I believe Kuwait will allow that to happen as well...Sudani made them happy... MarkZ Sudani is expressing the need to freeze all electronic transfers….basically freezing all banking and currencies. This is exactly what they would have to do to start the exchange process. I am a firm believer they are doing that to prepare people that the banking system may be funky for a day or two while they flip that switch. There is so much going on. The chatter has gone through the roof in Iraq with Sudani and the Central Banks movements. If only 10% of the people are right – we are within sight of the finish line.
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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 Jeff Iraq technically does not need to amend the budget if they're not changing their rate. The budget already covers their operating expenses. But they would need surplus funds to cover the reforms. The reforms are contingent upon the rate changing. They can't bring these reform package forward if the rate does not change. The only reason they're amending the budget is because the rate is changing ...The step of amending the budget can happen either before or after the rate changes ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend... Militia Man If Al-Sudani says, the dinar hold on to it, it's going too be stronger than the dollar...$0.76 is not stronger than the dollar. Add the real effective exchange rate and you can easily get over a dollar... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friend says...Al-Sudani is making an announcement during Ramadan remember? He'll go to Washington DC but after he comes back I believe that this rate [1.32 dinar to $1.00} with the deletion of the zeros will coincide with the WTO. We are basically in a countdown. FRANK: ...The final countdown. Let's roll! I think when they finish with Washington DC and they come back, we may see what we're looking for. [Post 1 of 2] Frank26 Continued: I am crazy excited your prime minister Al-Sudani and the governor of the CBI Alaq and the board of directors are constantly telling you they're going to give you 1.32 dinars to $1 and a new exchange rate to match it with lower notes...It looks like the next two weeks will be very loud on the monetary reform education. Be ready to move quick. [Post 2 of 2] yada Be of good cheer folks, this is unfolding before our eyes...what we are are expecting is taking place...The articles last week regarding the 1.32 in Iraq was telling the people what to expect. The salaries, contracts, infrastructure are at a point the REER [Real Effective Exchange Rate] will activate it all...Today-tonight is very good for us. Pimpy Deleting of the zeros means a re-denomination. Article quote: "The Iraqi government is currently weighing the question of changing the currency..." CHANGING THE CURRENCY. It didn't say exchange rate. What it says is currency... Definition "Re-denomination is a government policy in simplifying currency values without changing the exchange rate." ...If we can get them to change the exchange rate without removing the zeros then we're sitting pretty...
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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: It's going to float once it gets to 1.32. FRANK: I disagree because it's already at 1.32. It will float IMO a little higher. The RI will take it to $3.22 IMO. But because it's been 20 years I strongly believe IMO they may cap it around $4.25...The other currencies around the Middle East will not complain if the Iraqi dinar is higher than their rate...Frank is out of his mind if he still thinks that the IQD will go that high. Times & circumstances have changed, but he still has his head where the sun doesn't shine. .... JMHO ....RON MarkZ I think the news is getting restricted as we get closer. I think the quiet is a positive sign. A number of sources were given cautionary notices to be quiet or NDA’s. So to me it’s a great sign that things are quiet...Contacts in Iraq and around the world still think we are within days…but they have thought that before….so not going to jump out of my skin just yet. The quiet is probably the thing that is the most encouraging to me right now.
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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 Jeff One of the major things Iraq has to do before they can revalue the currency is they have to pause all of their money. They have to suspend it. Freeze it. As of Friday both the central bank and the government of Iraq paused and froze all their monies. What does that mean to us? ...By them suspending all of their monies between the central bank and the government that makes this [past] weekend...the first eligible weekend for Iraq to be able to revalue the currency... Militia Man Al-Sudani...talked about having the dinar be 1.32 dinars to the dollar...turns out to be around $0.76. That's a big bit of purchasing power for the citizens. Is it what they're going to end up with in the future based off all the natural resources that they...all the non-oil maximized income...tourism, all the extra stuff you never had when Saddam Hussein was in office? Saddam Hussein's $3.22 to 1 dinar was based off about $35 a barrel of oil. Oil is pushing $85 today...They have surplus money coming from all these different places... Frank26 [Iraq boots-on-the-ground report] FIREFLY: The funding for all of 2024, last Wednesday was suspended...and it was changed ...They must be using the new exchange rate. They said they changed it and then sent it to the Council of Ministers for the review. Then it is to be sent to the House for a vote...It should be going for a vote any time. We think it's going to move to 1.32 making it $0.76 which is not more than the dollar like Sudani promised, until they add the new exchange rate to it. That's what we're expecting. MarkZ ...I've been told absolutely clear that it does not matter, circulated or uncirculated, to participate and that makes 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 Militia Man Oil is anywhere from $88 to $85 right now. Add in the tax revenues and customs duties and fees at the borders, the tourism you got to see the exchange rate of the Iraqi dinar is not going to be at $0.76. They're going to have to add that real effective exchange rate to it and that's probably...exactly why they haven't exposed it just yet. It's a sensitive issue. They need to keep it close to the chest... They can't go out and tell everyone on the street, 'Hey you know next week your exchange rate is going to be X.' It doesn't work that way...Eventually they will expose it... Pimpy [Response to Jeff's budget/ exchange rate posts 3-19-2024 below] They are going to amend the budget with or without a rate change....Does it make sense for you to release the budget before they increase the exchange rate because then you have to turn around and redo the budget and make all the changes to the budget using the new exchange rate. So no, it doesn't make sense to release the budget before you change the exchange rate. You would change the exchange rate then go through and amend all of your budget because the money you've allocated obviously has changed...The suspension of the funds has to do with corruption. The reforms can be activated without changing the rate. They're going to reallocate revenue from oil to help fund all these reforms Jeff Iraq technically does not need to amend the budget if they're not changing their rate. The budget already covers their operating expenses. But they would need surplus funds to cover the reforms. The reforms are contingent upon the rate changing. They can't bring these reform package forward if the rate does not change. The only reason they're amending the budget is because the rate is changing ...The step of amending the budget can happen either before or after the rate changes ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...{Reposted from Midnight} Jeff One of the major things Iraq has to do before they can revalue the currency is they have to pause all of their money. They have to suspend it. Freeze it. As of Friday both the central bank and the government of Iraq paused and froze all their monies. What does that mean to us? ...By them suspending all of their monies between the central bank and the government that makes this [past] weekend...the first eligible weekend for Iraq to be able to revalue the currency...{Reposted from Lunchtime}
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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 Vietnam became the 150th member of the World Trade Organization back in 2007...with the same icky exchange rate. Not only that but...Vietnam is currently trading on the Forex...In addition to that Vietnam is on the Swift System...When you try to look up Iraq there is no Iraq because they're not on the Swift System. So you have Vietnam with a way worse exchange rate than Iraq part of the World Trade Organization...on Swift and they're trading on the Forex...If Vietnam is there with their current exchange rate then there's no doubt ...Iraq ...can be on these programs as well [at their current exchange rate].But that's not what Sudani said, or is it his intention. Militia Man Al-Sudani talked about having $1.00 equaling 1.32 dinars...I believe in my view is when they drop the three zeros from the exchange rate, what you'll have is about .76 USD. Then they apply the Real Effect Exchange Rate to that. And that's going to be based off of their assets... That would be nice - I can go for that..! Samson Article: ”Al-Sudani: There are those who want to obstruct reconstruction, and they will not discourage the government from proceeding with its plans"Guess who...Maliki & his crowd..! Walkingstick WTO means currency restriction free, therefore all members can use multiple foreign currencies to buy, sell and trade but Iraq has decided...all...contracts that have been recently signed with Sudani must be converted into Iraqi dinars. Clare Article: "Al-Sudani intends to visit Washington to lift the ban on banks prohibited from dealing in dollars" Quote: "The head of the Iraqi Securities Commission, Faisal Al-Haimas, announced that three Iraqi banks were sanctioned by the US Treasury, and 25 banks were banned from dealing in dollars."
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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: "Iron and Steel Company: Iraq is on the verge of a major industrial revolution" Walkingstick Sudani is starting the monetary reform education by using the official rate, which is 1320. He's using 1320 in explaining the possible rate...1.32 to 1 American dollar. IMO the reinstatement could take that International rate further...
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Sandy Ingram Do not purchase any currency with Saddam's face on it unless you purchase it as a collector. Purchase currency that is now in circulation in Iraq. Clare Article: "The Central Bank announces an understanding with the US Treasury to reconsider sanctions and indicates 'illegal trade' " Samson Article: "Central Bank Governor Announces an Understanding with US Treasury to Review Sanctions on Banks" MarkZ It's been exceptionally quiet on the RV front overnight...Some have anticipation for this weekend...I hope they are right. Pimpy I was hoping you guys caught this part of this paragraph... Article Quote: "The Iraqi government is currently weighing the question of changing the currency." That should have told you everything you should have known right then and there...They're talking about deletion of the zeros. If they're deleting the zeros off of this (1.32) then they're also deleting the zeros off the currency...That's exactly doing critical thinking which is what you're going to need in order to get through this process. Frank26 [Iraq boots-on-the-ground report] FRANK: You are within arms length of receiving your new exchange rate with your lower notes because it is in print. More importantly these words come from the right people that you can trust...Coming to you with the holy solemn oath promised that your prime minister bears witness that you will receive purchasing power and lower notes... FIREFLY: Yes...it is exciting. When we saw Alaq come on television and talk to us we knew we were going to be told more... Babysmom THE ONLY DIFFERENCE BETWEEN CIRCULATED AND UNCIRCULATED CURRENCY REALLY ONLY APPEALS TO COLLECTORS. COLLECTORS WANT UNCIRCULATED CURRENCY BECAUSE IT'S IN PRISTINE CONDITION AND THEY CAN FRAME IT. FOR OUR PURPOSES WE ARE GOING TO BE EXCHANGING IT WITH THE BANK SO IT DOESN'T MATTER IF YOU PURCHASE CIRCULATED OR UNCIRCULATED AND OFTEN CIRCULATED IS LESS EXPENSIVE TO PURCHASE. Walkingstick There were a few statements released by the GOI officials regarding their currency. The coming value at the onset of the release was revealed. That value was disclosed at/in negotiations...
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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: "An economist identifies the "ideal solution" to reduce the dollar difference between the official and the parallel" THE ONLY SOLUTION IS A NEW EXCHANGE RATE WITH LOWER NOTES... AND THAT'S EXACTLY WHAT SUDANI & ALAQ ARE SAYING TO THE CITIZENS OF IRAQ! Walkingstick Iraq is indeed ready, but the USA still has multiple conditions for release in the region which are presently being satisfied. We are getting to the end of the game which could monetarily finish as Iraq is going public to force a potential release. It is any minute, any second time frame. Frank26 ...JP Morgan representatives at a Chase Banks, why are they there? And why do they have all of these cubicles that they're setting up? ...They don't even say it's not a scam, they simply say when it happens we're ready for you. The whole mantra/attitude is changing but it doesn't change all at once. It's a slow process. It travels from the east to the west...north to the south. That information is slowly being given to everybody that is going to be involved in this exchange process. Mnt Goat So according to Shafaq News/ The Parliamentary Finance Committee discussed, on Thursday, with the Central Bank of Iraq, the monetary policy and banking system in the country and ways to increase the value of the Iraqi dinar. I Quote from the Article – “to discuss monetary policy, the banking system in the country, and ways to increase the value of the Iraqi dinar.” Folks I don’t know about you but this article was WOW!
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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 The calls out of Iraq...have been phenomenal. A couple of sources there are reaffirming that everything is finished on their side. They are waiting for the US Treasury assistance to release. They have told me it could be any moment to a couple weeks - but, they expect it very soon. But they stress that their end is done. Frank26 I've always said that when it would happen IMO it would be from a Saturday night when you're asleep to when you wake up on Sunday morning. Saturday into Sunday is what I've always said. Sunday into Monday is illogical because that's a second day of the week. The first day of the week is when you would officially kick the football and start the game.
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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: Alaq CBI governor said improving relations with international banks and amending the CBI bank Law. Alaq also saying about the $1.32 from 1320, if that's the case then Iraq will need lower notes for change if we go under 250 notes. FRANK: They're hinting to you what they're about to give you. They're having the conversation out in the open so you can prepare yourself...all of this is seeing the state to add value to your currency. Militia Man Iraq is going to go through that industrial revolution because they're going to rebuild the country. The evidence is quite clear. The fascinating part about it is we had Al-Sudani/his government say they were going to do the project to delete the zeros...They were going to have the Iraqi dinar be worth 1.32 dinars to the dollar. That equates to about $0.76. Those folks that talk about a LOP, how do they explain that? They can't because that's not what it is. Pimpy It [the article] doesn't say the exchange rate is $1.32, more likely what it is Al-Sudani will change the exchange rate where you can buy 132 dinar for $1. That's a 90% increase. I don't know about you but I'd be pretty happy with that. I'd be content with that. I know a lot of you are expecting million, that doesn't mean it can't happen but if we're allowed to keep this currency that we have right now with all the zero and they change the exchange rate I'm going to count my blessing and sell them because I'm not going to take the risk of hoping for a higher exchange rate and then turn around and delete the zeros. $37,000 is not too bad for less than a $2,000 investment. Frank26 I made a mistake...$0.76 was correct. I apologized...It's 1.32 to $1 which comes out to the $0.76. MarkZ Comment: There is currently a bond crisis brewing. Mark: Yes there is…and years ago one of the key players in the RV told us to keep our eyes on the bond market and when it finally gasps its last breath…that is when we go... It is certainly troubled enough to gasp its last breath. Mnt Goat ...the Chairman of the Finance Committee stressed, and I Quote: “the importance of following up on the economic file and monetary policy, based on the supervisory aspect, and finding appropriate solutions to the obstacles facing the work of the Central Bank.” What they are basically telling the CBI is to follow up and move more aggressively on this issue of increasing the value of the dinar...I believe there is enormous pressure to get the dinar revalued and conduct the 3 zero note changeout (The Project to Delete the Zeros).
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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 sure looks like it's happening in the next five minutes doesn't it? I need you to be realistic. This is the Middle East. Yes, what you're reading [Articles] is past tense. What they're doing is implementing it with the banks around the world. Pimpy People always think I'm being negative about the Iraqi dinar. I'm not. I'm trying to make sure people are grounded...I tell you guys this is what we need to look for, this is what we need to deal with and we don't want the deletion of the zeros. We do want the Iraqi dinar to continue to increase in value without deleting the zeros. That's how you're going to make your money. Frank26 We know Sudani came out, it's no longer a secret...We know the monetary reform is coming. We know they are suggesting 1.32. I suggested higher, but who knows. All of a sudden... parliament came out and said, "Oh...we look forward to our currency to have value, put on to it...we're passing the laws." That was interesting. Those that for decades have stopped the possibility of a new exchange rate to come out for the currency of Iraq are now finally saying, Uncle...! Even those that were against the Monetary Reform are now forced to tell the truth!
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EMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Article Quote: "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1,32 Iraqi dinars instead of 1320 dinars. Implementing such a decision is likely to significantly increase Al-Sudani's popularity." I know everybody somehow, someway got that the exchange rate was going to be $1.32. That's not what this article says. It says the official cost of the US dollar will be 1.32 Iraqi dinars...What I'm hoping this means is $1 US will get you 132 Iraqi dinar. That would be pretty nice increase in the Iraqi exchange rate. That's a 90% increase. This is an AMAZING POST, especially coming from Pimpy...! RON
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Frank26 Article: "Among them concerns the dinar... the outcomes of Parliament’s finance meeting with the Central Bank" ALL THEY TALK ABOUT IS THE 1.32 & THE INTRODUCTION OF THE LOWER NOTES!!! FINALLY... THE SOUND HEARD AROUND THE WORLD! This is actually happening. This is a reality. The monetary reform to add value to the currency and then to float internationally is a reality...because it's in print. Petra Early Monday morning was the article demonstrating the fact that Sudani was considering changing the rate of the dinar from 1310 to 1.32 which for us in the United States is $0.79... Then the very next day we get an article talking about the new small category notes. They're talking rate, they're talking notes. And then you got Tannini the Commerce Director there talking about a surprise could happen within hours in regards to their monetary reform... Samson Article: "Parliamentary Finance: We look forward to coordinating with the Central Bank to increase the value of the dinar and control the market"
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy The Coordinating Framework is trying to remove Al-Sudani. The political scene is going to be very unstable. If Maliki does his job and causes protests, that means the country is going to be unstable which means the economy is unstable. All these things are going in the wrong direction. We went from being high as hell with lots of hope to now it's just looking terrible. Militia Man Al Sudani has told the citizens the dinar is going to be stronger. $0.76 is not stronger however once they delete the zeros then they can apply their Real Effective Exchange Rate. Totally different ball game. Totally different circumstances. Pay attention. Let's see how this turns out. Harlequinc3 It helps me to think of it this way. 1.32 IQD to 1 USD means it takes 1 whole dinar and .32 of ANOTHER dinar just to get $1. It's not QUITE at a dollar. That's $.76. So if it was .50 IQD to 1 USD, that means it only takes HALF of one whole dinar to equal a dollar -- so that's a $2 rate. If it was .33 IQD to 1 USD, that means it only takes 1/3 of a whole dinar to equal a dollar -- wow, that's a $3 rate! We're happy you could figure that out H3...It's already been explained numerous times.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Paulette This is clearly what the article said... They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar. This is clearly 76 cents to 1 IQD...Currently the rate is 1,320 IQD to 1 USD. Looking it at the other way, this is 0.0007575 USD to 1 IQD. If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD. If they drop 2 zeros: 13.2 IQD to 1 USD or 0.07575 USD to 1 IQD. If they drop 3 zeros: 1.32 IQD to 1 USD or .7575 USD to 1 IQD. Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD. [Post 1 of 2....stay tuned - more to come.] Frank26 We were looking for 1,200 or 1,000 [to 1 USD] but I don't think we're going to see it...We haven't seen a single pip movement ...It's possible they may be looking at $1.10, $1.20 or $1.30...Let's see where they enter the basket. I'd love for them enter at 1320 because that means we're ready. I don't think there's any more preparation is required...I believe they have the potential to cap it at about $4.25 [in the float].
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ We still do not know the timing, but I am going to reiterate that the weekend before last they formed a committee to help inform businesses and citizens how to deal with the changing rate and changing prices that is going to occur. This is huge. Frank26 There was an announcement made by the Prime Minister Sudani...He told the Iraqi citizens, I'm going to add value to your currency. He used a solemn oath that swears upon Allah, their God. You don't go around breaking that promise. It was exciting to realize the Prime Minister told the people, I assure you, I give you a solemn holy oath were going to add value to the currency...Sudani told the citizens we're going to raise it to $1.32...He explained if we lift the 3-zeros from the exchange rate we'll be able to give you $1.32 in country. That's good purchasing power. Clare Article: "After hosting the Governor... Parliamentary Finance: We look forward to raising the value of the dinar" Quote: "...Thursday, the Parliamentary Finance Committee expressed its aspiration to coordinate with the Central Bank to increase the value of the dinar and control the market." Mnt Goat There are many who want to force the reinstatement which is like me telling you that on March 19th (first day of Spring) suddenly overnight everything will change and wamoo, we will have spring. But we all know it doesn’t work this way and so we must make this logical analogy / comparison to our investment the RV. Just like mother nature has a plan for Spring, the CBI too has a plan and it takes time to execute it.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ If any of you are questioning if this is ever going to happen …I want to give you some reassurance…. Here we are at Thursday and this is the second time this week …directly from the Iraqi Parliament: Article Quote: “Parliamantary Finance and CBI discuss increasing the DINAR and controlling the market”. In other words they need to remove restrictions on the banks and increase the value…that is how they control the market...They are still openly talking about it…again. Militia Man ...If they adjust the exchange rate and delete the zeroes who's going to need the dollar when they apply the new Real Effective Exchange Rate to it? Nobody is going to need the dollar because the dinar is going to be stronger than the dollar and that's my opinion. We are in a situation where ...a political crisis...or surprises could change the exchange rate and that could come within hours... Tishwash Article: "Parliamentary Finance: We look forward to coordinating with the Central Bank to increase the value of the dinar and control the market" MarkZ Question: Anyone heard anything about Iraq going by itself - not all countries? Mark: A person in our community had an interesting conversation. He has a personal relationship with a banker. Quote: "Met for dinner with a banking executive...the banker told me about the basket, or first round is going to be only the Iraqi dinar and the Iranian Rial. He said those countries are gold backed and their internal banking systems are more set up…more so then the others are. The dong should be ready to exchange by late fall...He did not know about the shotgun start and said it will be easier to roll them out piecemeal..." [post 1 of 2] MarkZ I take it as a very good sign...It is encouraging to hear an active conversation about it and that it’s going soon...I am still hearing that the majority of the currencies will be going all at once. But, its best to be prepared. Question: if Iraq and Iran go first and alone, I wonder- will the currency still be allowed to float? Mark: I would assume “YES” …I believe all currencies will be allowed to float after this. Because of the underlying asset values. [post 2 of 2] Babysmom ...THE DINAR RATE OF $1.32 IS WHAT THEY ARE HOPING WILL COME OUT IN IRAQ. BGG Article quote: “The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320. Implementing such a decision is likely to significantly increase Al-Sudani’s popularity.” ...The article was published yesterday & I am suspicious of it’s veracity and timing. It always seems to get tossed around during election season. Furthermore, how they decide to get from 1320:1 to 1.32:1 is another story entirely...Everyone will get all excited, when in reality… even if this is a legit move – it could still go 20 different ways. Mnt Goat Don’t be discouraged, the currency reform and banking process has come a very long way in a short period of time since January 2023 compared to waiting since 2011, when the plan originated with the IMF on how to turn the currency back on. So we went 11 years with not much progress then suddenly a huge jump which tells us something is up. This alone is all telling...If Iraq is to progress, as they say is their goal, they will need a globally recognized and traded currency once again and get it VERY SOON!
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy Can the Iraqi dinar get as valuable as a Kuwait dinar? Of course it could. There's a lot of hurdles there. Are they [Iraq] going to be reinstated? No. Two different stories. The invasion and occupation [of Kuwait] was about 7 months...The Kuwait government was still able to do business as usual outside of Kuwait, use the money they had in their reserve fund. Iraq did not have that, not to mention the fact that Saddam Hussein... printed the hell out of the Iraqi dinar causing the value of the Iraqi dinar to drop...You can't compare Iraq to Kuwait because there's no comparisons... MarkZ The market crash is looking closer and closer. More and more economists are saying it is likely …Jaime Diamond [CEO J.P. Morgan Chase] recently said the Iraqi dinar is going to save the worldwide financial system. So will we see the crash and then bam…they pull the trigger??? As we indicated before, when Mark made this statement, NOWHERE could it be verified that Jaime Diamond ever made that claim..! Paulette This is clearly what the article said... They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar. This is clearly 76 cents to 1 IQD...Currently the rate is 1,320 IQD to 1 USD. Looking it at the other way, this is 0.0007575 USD to 1 IQD. If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD. If they drop 2 zeros: 13.2 IQD to 1 USD or 0.07575 USD to 1 IQD. If they drop 3 zeros: 1.32 IQD to 1 USD or .7575 USD to 1 IQD. Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD. [Post 1 of 2...Reposted] Paulette ...What we want to see posted on the CBI website as to how many IQD are required to purchase 1 USD is 1.00 or less. If they post 3.22 IQD to 1 USD, this would mean 31 cents per 1 IQD. We want them to post .31 IQD to 1 USD which is then 3.22 USD to 1 IQD. Realize, they post how many IQD it takes to purchase 1 of another currency. [Post 2 of 2] -
REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Pimpy I hold millions of dinar and people act like I don't want the $3.22 exchange rate with the current currency, 'No, Pimpy doesn't like it. He doesn't believe in it.' What the hell are you talking about? I own millions of dinars. Nothing would make me more happier than for them to jump up to a $3.22 rate and keep the same bank notes that we got now. Clare Article: "Al-Sistani: The beginning of the month of Ramadan is today, Tuesday”
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON Sandy Ingram OPEC+ members agreed to extend voluntary production cuts by 2.2 million barrels per day in the second quarter of the year...Iraq is losing anywhere from $2 to $3 billion a month in OPEC's volunteer program to cut oil production. Militia Man Article: "Economics website: A new application enhances investment movement in Iraq" uote: “...The new index, called (RSISX Total Return), compares currency exchange rate changes and the returns achieved.” It is not surprising they have a new RSISX Total Returns index for currency exchange rate changes. With Al-Sudani's government mention of 1.32 dinars to the dollar yesterday and then today we see that there is talk of smaller denominations. Small enough to make change for 250 notes...Put all that with this new index being launched suggests for me, is that they are ready for change to come and not just in the exchange rate but...as in fils...This is another good sign Iraq is opening up to the world in a big way. Frank26 The banks are not saying as much that it's a scam. If you hear someone that says it's a scam it's probably someone at the very front line. But once you get past them we're finding they have JP Morgan representatives at every Chase Bank it seems like. Perfect timing...Not one bank story has been negative in 8 or 9 days or so...The resistance is getting less and less. The force field is no longer at 10, it's probably at 1 or 2.
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt ... RON MarkZ Article: “Iraq’s ruling coalition may call for early elections” The Iranian lined up divisions seem to be afraid of Sudani. But he has about a 78 percent approval rating from the people and has gotten a lot done. But this statement is what they fear the most right now: ”The Iraqi government is currently weighing the question to change the currency so that the official cost of the US dollar will be 1.32 Iraqi dinars instead of 1320.” Implementing such a decision is likely to significantly increase Al Sudani’s popularity. [post 1 of 2] MarkZ What does this mean? It means they don’t need the zeros anymore. This means that each Iraqi dinar would be worth .76 cents. This was right from Iraq’s own paper. And they are “currently weighing this question” I still very much believe we will see a higher rate than that …but let’s say each dinar is worth .76 cents. They may be coming in at .76 and letting it float. We don’t know for sure...I still believe it will be higher... But to see it openly discussed in their news is huge. [post 2 of 2] This all sounds amazing. I hadn't seen the article, but ...Let's hope they pull the trigger.