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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 Sudani said to his citizens, Quote: ''Before the end of Ramadan, before the start of EID it is my desire to make a major announcement.' Ramadan comes to an end on the 8th of April. On the 9th EID starts." From the 9th to the 11th we have an amazing window to study and to see what happens with our investment because on the 15th Sudani will go to Washington DC to see the president of the Untied States. Militia Man Raising the value of your currency is going to help make it easier for sustainable development and deducing the phenomenon of cash. In other words if you have a 1 to 1 ratio you have a significant reduction in cash do you not? I think you do. If it was at a previous era, for instance...$2.80, $3.22..wouldn't that be a phenomenon of less cash in the economy? Of course it would. MarkZ Question: Mark do you think this will happen before 2025? Mark: Yes I do…I don’t think we will get anywhere close to 2025 before it happens. But, nobody knows the exact timing. Guru Samson Article: "The office of the Grand Ayatollah Sistani expects next Wednesday, April 10, the first day of Eid al-Fitr"
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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 We're dealing with two different things... We have what's known as the nominal value, which is the numbers on the bank notes and then we have an exchange rate value. That's two different things. No kidding - And your point is...?? Militia Man The Iraqi dinar is not a scam. It's a real currency. It's a real country. It's a real government...It's going to be a real component to the international financial world...
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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 If we went from where it is now at .00077 all the way up to $3.22, you're looking at a 4,180% increase in value. The largest amount a currency ever revalued occurred January 1, 1948 when the Chinese government decided to revalue its currency the yuan as part of the efforts to stabilize the economy and recover from the devastation of World War II...The government set the new exchange rate at $1 US for every 1.4 yuan which was a 46.9% appreciation - The largest increase in value we have ever seen in the world is 46.9% in value...So Iraq is going to smash the old record of 46.9% increase in value by 4133%? Not going to happen. Breitling Question: "The difference between Kuwaiti revaluation and the Iraqi dinar - what's the difference?" It's a completely different model...Kuwaiti got invaded. Saddam Hussain stole the printing press, the Kuwaiti version of the Treasury. Stole everything...Iraqi dinar was completely different. It was planned. They knew the old Iraqi currency was going to collapse. We injected their economy with dollars and euros. That's when they took the old dinars off the streets and introduced the new dinar you and I have. It's a completely different model. There's no way to compare.
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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 CBI is talking about the American dollar... Look, stop using it. If you stop using it you don't have to worry about the exchange rate of the American dollar verse the Iraqi dinar...The value of the American dollar will drop like a meteor in the ocean. If you stop using the American dollars...the value of the dollar will go down and the value of the Iraqi dinar will go up. Common sense...! MarkZ Article: “The Text of the Baghdad-Kurdistan agreement on the implementation of the budget.” This is a massive move forward and it looks like they have worked through the last of the HCL hold up stuff. Money and agreements- looks like things are moving. Clare Article: "Parliamentary address to Al-Sudani calling for changing the head of the Central Bank (document)"
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Tuesday Morning Opinions & Rumors @ 11:35AM MDT - 4/25/2023
ronscarpa posted a topic in Dinar Rumors
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 I suggest if in fact they do what they say they're going to do, 'We're going to do it soon', 'We're going to do it in weeks', 'We're going to do it in days', 'We're going to do it now', 'We're going to do 1.5 times.' By that equation that Al-Sudani is giving you, not me...if that holds true what they've done is they have adjusted the rate again to squeeze the black market... Frank26 [Iraq boots-on-the-ground report] FIREFLY: Something is about to pop...it has to. After EID we expect some changes to the current rate. To more like 1000 to 1... FRANK: Pay attention to your prime minister. He is trying very hard to tell you your currency is at 1.5 to the American dollar. It is possible they may start the float at 1 to 1.5 instead of 1 to 1. And NOW for Mark's EXAGGERATED thinking & Rumors MarkZ We are hearing from Iraq that they are fully section 8 compliant…Its finished…. This is another key piece…its done..! I believe at this point they have already passed the budget…I think the GOI is sitting on some huge news and will simply announce it and a rate change soon…. I could be wrong …but that’s what I think. Iraq is doing everything they can to move this forward…- 4 replies
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REMEMBER, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... So, take everything with a grain of salt .... RON Nader From The Mid East The street demonstrations you see...First it's for the food baskets. Second is for what we call it ID - retired people want more money. Third is for the exchange rate...purchasing power. Power to purchase more things with their money. That's what they want to do. That's why you see there's a demonstration. Sandy Ingram How Iraq caused the currency crisis - Here's what happened. Iraq spends around $900 million a month on Iranian goods. $50...is for electricity and gas...Now the mistake - The U.S. and Iraq decided to pay Iran in Iraqi dinars. Surprisingly Iran said okay. Iran then proceeded to the Iraqi daily exchange auctions to trade the dinars for U.S dollars. [Post 1 of 2] Sandy Ingram The Federal Reserve Bank in New York City had a fit and began implementing restrictions...You see, the U.S. holds the money Iraq makes from oil sales...Iraq is caught between the U.S. massive amounts of oil revenue and OPEC controlling Iraq's oil exports and Iran controlling Iraq's electricity...the bottom line - Iran obtained large large amounts of the Iraqi currency that Iraq needs to pay government salaries and run the government...this is a global issue. [Post 2 of 2] Frank26 If the budget comes out at 1300 it will not stay at 1300 for long. I hope that you can tattoo this somewhere you can always remember it...there's another exchange rate coming...there's another rate change coming. It was 1750. It's 1300. There's another rate change coming. Pimpy A lot of people asking me if the Iraqi dinar exchange rate has changed again. No it has not. When you hear people out there whether it's from the news or people posting about the exchange rate they're usually talking about the open market rate which is different than the official rate. We know right now the official rate is 1300. We know the black market is somewhere around 1450 which is where they wanted it in the first place... Militia Man The Council of Ministers referred to dealing in dinars. It says there's no justification for citizens to use foreign currency in local transactions. In other words in their local transactions there's no reason to be doing anything outside of the dinar...if you're going to go buy a car - dinar. You're going to go buy a loaf of bread - dinar. Just the way it's going to be... Frank26 [Iraq boots-on-the-ground report] Firefly: My bank friend thinks soon we will see the CBI talk about the lower notes and the upcoming rates. It's all pointing to this. He says everything now being set at 1320 but he still thinks we will see another move soon on the exchange rate. Then to 1 to 1 ratio before the float internationally. FRANK: IMO everything your bank friend is telling you is 100% correct. This month of March will show you what he...told you. You will see your new small category notes and new exchange rate. Remember you will see it first in article print and then it will be given to you physically. These are exciting times as we cross the finish line together...
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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 They are increasing the value of the IQD against the American dollar. It will be a gradual float. They kicked the American dollar out of Iraq's markets/circulation last week...The IQD is being setup/poised/prepared to lead the Middle East as a currency hub... Pimpy Article: "The talk of the exchange rate invades the Iraqi sessions...and the currency auction is the window for whitening the dollar" We all know there's lots of individuals who are politically connected and pick up on information they most likely shouldn't have. There's been a lot of meetings with the governor of the Central Bank of Iraq. There's no doubt they've been talking about changing the Iraqi currency..[Post 1 of 2] Pimpy This article keeps touching bases on a group of speculators who continue to try...to drive the value of the dollar up while driving the value of the Iraqi dinar down...Why would they do that? Is it possible these people know there's going to be a change in the exchange rate...? So by stirring up all kinds of rumors...you can get more Iraqi dinars for your dollar...Is it possible some very corrupt people are trying to buy the Iraq dinar for cheaper dollars knowing in advance that their rate might change? [Post 2 of 2] Clare Article: "The application of international trade exchange for the Middle East transforms Iraq into an "electronic financial exchange center" Quote: "The pioneering services will provide new horizons for the Iraqi market in ten foreign currencies, including the US dollar and the Iraqi dinar."
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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 Breaking news out of Iraq. This is what we've been waiting on - Insight into Iraq's plans. Article: "First Iraqi Bank Announces Iraq's Fully Digital Bank, Gears for a Cashless Economy in the Country" ...Each customer will be assigned an IBAN (International Bank Account Number) to allow cross-border transactions...the article did not mention an RV...the key question is will you need to be an Iraqi citizen or have Iraqi identification to open up a bank account. I don't know yet...BUT..... Militia Man Article: "Blue to Debut a Fintech Super App for Iraq and the Middle East" This news out is massive. Iraq is going international before our very eyes....They tell us they will be able to top up accounts in the Bluepay app on mobile phones. Trade USA Listed Stocks and all approved by the Central Bank of Iraq. They can do that with both the USD and the IQD and then exchange their balances with 10 other countries. Wow...Multi - currency capabilities with the USD, the Yaun, IRAQ DINAR, etc, etc.. Soon to be Saudi Arabia too. For those that have been on the fence about Iraq ever going international, you can rest assured now we have been spot on. Walkingstick The budget is voted into law in parliament. Then it sent to the president of the republic for his John Hancock...then ta-da it's official. But if it's not sent to the president...then what happens? It becomes law automatically without the signature of the president of the republic within 15 days of 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... RON *** Breitling Inside Iraqi the Sunni and Shia want to expand their markets and their markets are in the West. Russia and China are not expanding, they're shrinking...the average person out there knows if I'm going to sell something I want as many customers as possible. That is what Iraq is looking at...That's all they're looking at nothing more than that. So it's all positive news coming out of Iraq for the Iraqi dinar. *** Frank26 Question: "When the ATMs start spitting out cash and the satellite banks open are we still waiting on the reforms?" We're waiting on the reforms. Actually we're waiting for when the government sits. Then they'll show you a budget that has the white papers that contains a new exchange rate...
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Frank26 Kazemi has been using the new exchange rate IMO all year from the CBI...Kazemi had to tell [the citizens] that there is a new exchange rate... [to] stop the protests... *** Jeff At the end of the day Iraq cannot go international if the rate remains below zero...it is a reinstatement. That means put it back to where it was in the $3+ range. Iraq has to put their rate back that's comparable to the region. None of the other middle eastern countries have a rate below zero. Some of the lowest rates in the Middle East are maybe down around where Saudi Arabia is - around a quarter. That's the low side. *** Tivon ...Purchasing Power for the citizens will come regardless of a new government or budget. Why do you think they have already completed the new salary scale? Because the EFSL covers what? All Contracts & Procedures. Not the GOI. Not the budget. At least for this year. *** Militiaman Article: "Iraq signs a memorandum of understanding with the United Nations on the digital transformation project" ...The CBI has hooked up to at least 3 key links to entities within the GOI for communication...It looks like we are in the READY, SET, GO... mode! ...I imagine that the GO part would be simultaneously with the FX. We surely can see the writing on the wall now.. imo
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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... RON *** Militiaman Article: "Iraqis hold their breath, waiting for Friday al-Sadr: a new government or a change in the rules of the game" I will bet there will be many fronts this next week that could be very surprising. Maybe even see the dissolution of parliament. EFSL gave "Necessary Powers" to Kahdimi and the White papers were said to be the corner stone if you will from the results of the World Bank and IMF mission in Iraq. The CBI knows that full well and has likely calculated it, as would Sadr too, Kahdimi, Saleh, Allawi, etc. Everyone in the need to know realm.. Knows what to expect now, surprises... *** Mnt Goat There was so much more in the news about forming the government...July 15 is a target date for Sadr...if the date passes without a government Sadr is going to change the terms of the process again. ..I believe they will leave Kazemi in place as prime minister and Salih as the president... By leaving Kazemi and Salih in place for another year this could give Iraq the...stability it needs thus the CBI might be able to sell the idea to the IMF and the USA. I do not know for sure how they will decide on this. We will just have to wait and watch it play out. *** Samson Article: "4 zeros were removed from it.. Iran launches new two-denomination banknotes" Quote:"In the upper part of these banknotes, the zeros are seen in a faint color, while in the lower part of these banknotes they have been completely deleted." *** Frank26 Article: "The Central Bank : There is no future plan that includes changing the exchange rate" ONCE AGAIN THE DEPUTY GOVERNOR OF THE CBI HAS NO AUTHORITY WITH ANY OF THESE WORDS HE IS USING...IMO...THE DEPUTY GOV OF THE CBI IS THE EQUIVALENT TO OUR LIZ CHENEY OR MITT ROMNEY WE HAVE TOLD YOU ONLY PAY ATTENTION TO PM KAZEMI AND GOV MUSTAFA OF THE CBI!...NOW YOU SEE WHY WE ONLY LISTEN TO THESE TWO LEADERS OF IRAQ.
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq... RON *** Pimpy Things are really starting to look good for Iraq in many different ways. If they could just get past this political blockage, get a government formed...stick to the white papers - then I think they're going to do really good. The World Bank and IMF have been making some really strong predictions for Iraq's economy and if they can stick to where they are it's going to be really good for them...Iraq is recovering way faster than they thought. I haven't changed my mind, when Iraqi dinar goes up it's going to go up in increments... *** Godlover Community comment: "the parliament votes on the budget, then send it to the President to be implemented. So far Parliament has not done anything in regards to approving it, it does seem that they have not even received it yet...imo" Yes imo parliament will need to vote on the budget, with or without a new rate prior...Of course, a new government is needed prior to any monetary reform...if Kazemi gets to continue, it needs an official announcement. With that said, this new food security law seems to be an option they are trying to pass with urgency, anticipating the process for a new government seating could take awhile, as well as the budget approval.
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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... RON Kaperoni So what are we waiting for? That is a question that everyone asks. The truth is... Iraq was devastated in the war and their infrastructure was completely demolished. This is a complete rebuild from the ground up...They also need to implement and encourage latest technology throughout the government, banking system, and educational system to educate the citizens. Not an easy task. And then you need to bring multiple global businesses, organizations into Iraq to facilitate. [Post 1 of 2].. Kaperoni It is a huge undertaking. And like I said numerous times, until Iraq's economy prospers the Iraqi dinar will not go up in value. So we need the newly-elected parliamentary members to be sworn in and begin to pass the necessary laws to encourage foreign investment. We need stability in Iraq to continue. We need the new prime minister to continue to implement reforms... Sometimes I get nasty messages from people telling me that I'm ruining their dreams. Wouldn't you rather know the truth...? [Post 2 of 2].. Pimpy I'm not saying that an RI or an RV won't be announced. I'm saying that it makes more sense to me they're going to let it go up in increments. In fact it says something similar in here. Article quote: "...it is possible for the state to gradually improve the Iraqi dinar exchange rate because the shock method adopted and change in the exchange rate was not appropriate..." More talk about the rate change. That's good...there you have it the talk about the rate change happening once again... Vital Brad Article: "Iraqi banks get a rating from international agencies" Article quote: "19 licensed banks in Iraq have obtained a rating from the accredited International rating of agencies - Capital Intelligence, Fitch, Moody's Standard and Poor..." Wow! Article quote: "reflects the development and the performance of the banking sector in Iraq and the solvency of banks and is evidence of their compliance with local and international standards..." That changes everything. Holy ****. It's saying Iraq is international standards. I think it's only a matter of time...I think it's closer than ever... Frank26 Article: "Expo 2020 Dubai is an opportunity to boost investment in Iraq" Quote: "Assurances of the role of Expo 2020 Dubai in enhancing the reality of investment in Iraq, through the portal of openness to the world, where the wide participation of major international companies that represent a sober effort around the world." NOT AT A PROGRAM RATE... Breitling Question: "Is it a fact that Iraq has lower notes in their banks?" No...unless the CBI talks about it or one of the banks in Iraq talking about it why would you even contemplate 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. RON *** MilitiaMan Globally…didn’t the cbi just show us a 33 page announcement? "The second strategic plan…" It has all items in place to go to a market economy...we are game on and about game over!...We are days into the RI, imo... *** Frank26 Article: "Al-Kazemi's advisor reveals the goals of his visit to Kuwait: Attracting investment in the foreground" The international world pours into Iraq because of a sanctioned program rate for their currency...NOT!!! They know what you do not know...two years ago they did not pour in. Last year they did not pour in. This year you can't stop them... The Financial system = The economic prosperity! Good Morning Dinar Vets ... Blessings ... 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. RON *** Mnt Goat *** Article: "PARLIAMENTARY ECONOMY: THE STREET WILL EXPLODE IN THE FACE OF THE GOVERNMENT IF THE DOLLAR CONTINUES TO RISE" Quote: "...the Iraqi market has been witnessing great confusion for days due to the instability of the dollar exchange rate..." ...How long will this devaluation continue? When will they finally delete the zeros and issue the lower denominations? When will they realize this is part of the problem and holding them back. *** Pimpy *** Do I think the rate is going to stay where it's at? Hell no it's not. Not for no damn three years. Is it possible? Of course it is but I don't see 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. RON *** Frank26 *** Something has happened and what I believe is happening is that there are many codes that are being established and are being implemented with the Iraqi banks. I believe they are for imports, exports. I believe it's for an exchange rate that is not public yet... *** MilitiaMan *** Article: "Nechirvan Barzani discloses "significant" external support for Erbil and Baghdad to resolve their differences" Quote: "there is "great" international support for Erbil and Baghdad in order to solve the differences and pending issues between them" There is a Digital Summit going on through tomorrow. The mechanism that Baghdad and Erbil are to disclose is about to reshape the way they do things and in a big way...imo The world is watching and reacting now. imo There would not be 500 global bankers and Central Bankers over a two to three week period discussing digital clearing and compliance. That does not get done with out massive logistics... imo...We are in a good place... Good Morning Dinar Vets....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. RON *** Kaperoni *** An Article...came out from economic adviser Saleh stating Iraq cannot float the dinar because is using the daily currency auctions. He mentions several reason. This is true. They cannot float while they continue to use the currency auctions. Iraq is only one of a few if even that left in the world using a currency auction. Central banks manage their currency by freedom of movement of capital and supply and demand selling blocks of currency to balance the exchange rate on the global financial system..(post 1 of 2).. *** Kaperoni *** Remember, the currency auction was created to not only maintain stability but to provide a source of dollars to merchants in Iraq because the dinar had not been recognized internationally for trading and exchange. Not only the dinar but the financial system in Iraq was completely rebuilt from the ground up. That is why they went into IMF Article XIV. Giving them several years to build confidence and stability prior to accepting Article VIII engaging with the world financial system. We expect the currency auctions to end when they accept IMF Article VIII. They will end the auctions, and begin to float the currency which will contribute to the success/growth of the private sector market economy..(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. RON *** Breitling *** The reality is...they are passing laws for a higher rate. In other words to be able to manage a rate in their own currency. They are trying to pay off as much debt as they can with the value of the currency that they have today so when it does add value they don't owe as much. They gain that much more...Iraq is doing all these things that supports their infrastructure that is going to add value to their currency - that supports adding value to their currency. That's how you know. No country on the planet is going to tell you they're adding value to their currency because it would literally stop the supply times velocity... *** Pimpy *** We need to figure out what the hell these [PM Kazemi] amendments are going to be in the budget. I'm curious to see...don't let people run you rugged...that the rate change was going to be in there. We don't know. Cross your fingers and hope it's true but until they announce it then we'll know...it looks like Al-Kazemi is going to appeal the budget and make some amendments, some changes to the budget. So cross your fingers...we'll 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. RON *** Footforward *** I'm not following the budget. I'll leave it at that... The...next excuse in Iraq will likely be that they need to have elections...Everything going on in Iraq is a distraction in my opinion...There are people who want to wear us out and have us sell our dinar before the revaluation takes place...They want fatigue to set in... if you listened closely I've been telling people for 4 years what the minimum rate on the dinar would be. [reference Footforward post 3-31-2021] In my opinion of course. And it's never been financial or investment advice. *** Mark *** A couple things were happening over the weekend. One- they have agreed to a budget implementation meeting which is occurring as we speak. It started 11 AM Iraqi time. They are going over the implementation of this budget. This is cool because we expect the rate change. *** sandyf *** The latest issue of the legal gazette which included the budget was issued 12th April and posted to the website today 19th April. Not that it will change anything.
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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. RON *** Frank26 *** Article: [Adapt to the exchange rate] Quote: 'to adopt the method of "flotation" Al-Madar - in the next step, in conjunction with the increase in the central reserves...' You now understand - Phase One: Solid date 1 to 1 fixed rate. Phase Two: Bring in enough zeros...and we will give you [CBI] the opportunity to raise the value again. How about $1.19 or $1.46? Outside of the country the same thing is happening. Strengths and stability is being added to your currency...because of the investors...they recognize that Iraq now qualifies for the international rate of their currency. When it enters Phase Three: Maybe 6,7,8 months later as it floats...that's the next step after we do phase 1 and 2...these phases are upon us. *** Mark *** [Q? What’s your predecition?] My best guess is “anyday” could be today…could be tomorrow …could be a week…we simply do not know. [Q? Do you think we will have it in April?] I thought we would have in March. But yes I think we will see it in April. Also...more statements from the finance minister over there saying they will soon have the best currency in the region. *** Frank26 *** The goal is to change the rate again. These articles are coming out and they're saying 'we're changing the rate of the American dollar. No. The CBI has no authority to do anything with the exchange rate - only the U.S. Treasury...not understanding the translation properly really applies to these articles. That's why they get you depressed and confused...they are talking about the exchange rate of the Iraqi dinar AGAINST the American dollar...that's the only way they can talk about it...these articles are not saying they're going to decrease the value [of the dinar]...
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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. RON *** Frank26 *** Bank Story from community member: He calls his brother and says 'You know what that guy Frank26 told us, to go to the bank and ask questions? I did it...They [Chase bank] told me yeah...we see the Iraqi dinar. It's on our computer screens and when it's accepted worldwide bring it in...by the way what kind of denominations do you have? [Frank: they wanted to know what the denominations and how much you had and everything?] 'yeah I didn't divulge how much of it I had, I was so excited I called my brother...he decided to call BOA [Bank of America] down in Texas...and lo and behold the same thing happened to him. He says do y'all exchange foreign currency?' ..(Post 1 of 2)... *** Frank26 *** [Bank story continued] 'He [Banker] says yes what foreign currency do you have and he [his brother] says the Iraqi dinar and he [bank] says yes it's on our list and soon you'll be able to bring it in, but we can't help you right now...when it is recognized we will be able to bring you in.' - This is a pattern. A lot of banks are saying this. Not every bank...most banks are still being quiet about it. But the big banks. Don't be calling a mom and pop place...they aren't going to tell me that oh it's about to revalue or we know about it and what's about to happen. They're not going to be bold about it. But they're not being nasty. Isn't that interesting? I think so...(Post 2 of 2).. *** sandyf *** When the budget is ratified it will be published by the MOJ and will appear on their ...The only official English version of a budget I have ever seen is from the Iraq Law Library and that usually takes some time. The budget will be applied retrospectively to the 1st Jan, start of the financial year. The budget is a summary of income and expenditure and their is no exchange rate involved, the only exchange rate is the conversion of the budget from IQD to USD for interested parties such as the IMF.
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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. RON *** Pimpy *** I know you guys were jumping up and down. You heard rumors that the dinar had been changing in Iraq 1 to 1 and I told you that wasn't true because if it was true then you would see people bringing their currency that are out of country taking to people in country and getting that 1 for 1 exchange - taking their newfound fortune...buying more dinar cheap then running it back into the country...so when people tell you oh, in country this and out county that, that's a lie. They go at the same time for that specific reason...use common sense...be careful about the information no matter where it comes from. Even from me. Question it. There's nothing wrong with it - question it..! *** BobTheTaxMan *** We are coming to a real possible window in April...obviously I'm not saying this is it, glory hallelujah you can count on $3.27... No it's none of that nonsense. But there are some things that need to be looked at carefully just in case this does come to fruition in this particular time frame...things have got to be done prior to the RV in order to take advantage of the taxes that are going to be imposed on this particular transaction we're looking at...(Note: Consult your tax and financial experts at the appropriate time to set a strategy that's right your family's particular circumstances.).. *** Mike Cottrell ***...I do believe we are very, very close…whether it is this weekend, next weekend or next month…I have no idea. I know they are running out of time if they want to get their books straight. I was told they are trying day to day to get this done… That's all for today ... Have a Blessed Easter / and Passover ... RON
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Remember, no one really knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. RON *** Jeff *** IMO Vietnam needs more time...easily another year...IMO no other currencies will go with the Iraq dinar...the Iraq dinar is the only currency you're going to see change their rate at this time. Really..?? WHEN..?? *** Footforward *** [Q? : Frank26...said the rate will be 1$ internationally...]...as things stand there is something in place that make it actually illegal for them to come out that low. And Frank doesn't know about this. And no one else does either. Frank may also be getting misinformation. I know I have the best source on the rate? I like Frank. This isn't anti-Frank. In my opinion is the rate will be at least 3.50 and more likely 5.00. ...But, it would be nice, but highly unlikely..! *** Mark *** I'm hearing the HCL will pass in Iraq on Wednesday or early Thursday…this is profit sharing for the oilfields in Iraq and Kurdistan. When this passes…I am told “BOOM” budget is done and we should have a new rate…so I am watching this very closely…. *** Pimpy *** There's nobody from an official capacity who said, 'Hey, we're going to be swapping lower denominations for higher denominations.' That usually happens when we do what's called a LOP. That's when they knock the 3 zeros off the dinar, not the rate exchange, the dinar. That's devaluing the dinar. In other words on million dinar all of sudden becomes worth a thousand in ours [dollars] because they took 3 zeros off. That's not a good thing...I never seen an official announcement that lower denomination were coming out yet. I do know for a fact that they exist. I got confirmation on that and I was allowed to share that information...It's just a matter of when. That's what everybody has been waiting for. *** Jeff *** I've been telling you that if they're going to do the rate change this month in March, their back wall for March has to be Sunday the 21st to do it. The reason why is because...they would need the last week of March to complete the suspended laws...they just need one reading and they're done...we're in great shape... *** Frank26 *** We have a date. It's a solid date. At the onset it will come out at a rate 1 to 1 IMO. That rate will be domestically and internationally recognized. This is the process of monetary reform - the lava flow that we call the redenomination, the revaluation and now finally the reinstatement...this phase is approaching us in the near proximal future..(Post 1 of 1).. *** Frank26 *** 1 to 1 ... Inside of Iraq you're going to have one dinar. What are you going to have in the the other hand? A dollar..? NO..! They base it on the exchange rate of the dollar. They don't have any dollars in their country...a dinar is a dinar inside the country of Iraq. The value of that dinar is equivalent of an American dollar. Not bad. You got purchasing power. Outside of Iraq it depends on what you want to convert it into...Let me ask you this. Outside of Iraq I have a 25K note in my hand - What do I have in my other hand and I'm an American citizen? $25,000 dollars... Internationally it's a completely different ball game..(Post 2 of 2)..
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Good Evening DV, here's a few opinions & comments that might be of interest to you. 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. RON *** Frank26 ...what more is there to tell you? I already told you that the upper echelon executive level of the banks met with the CBI and they discussed with the citizens about the new small category notes and the new exchange rate...I don't know if it's going to happen this week, next week or whenever...you are always ahead of the learning curve with us. I'm not trying to boast... *** MilitiaMan Article quote: "...Using various monetary policy tools in order to control inflation and restore the Iraqi dinar exchange rate to a good level, as it was before the Iraq - Iran war (1 dinar pound equals $ 3.30) by activating and activating the monetary tools of the Central Bank with Increasing the activity of the stock market and the banking sector." ...articles today and recently talk about the stock exchanges and the secondary markets...They want it back at a good level too!! Their words and not mine.. imo. Lets not forget and it is key, that they can and will be able to internally borrow with an exchange rate like they had in the past. My view is if and when they do get back to where they were, that could usher in the stolen monies in the tune of $150 billion. That along with a new exchange rate would help establish a better credit rating, just as automation at the borders and ports will... Iraq is in the drivers seat, now to just buckle up and put her in gear now!!
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Good Evening Dinar Vets, here's several opinions & comments that might be of interest to you. 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. RON *** MilitiaMan We see that in...articles that are out lately that the reform papers and budgets are being talked about. They talk about not only the 2019, 2020 and 2021. They will not hopscotch around any of them... They are to be in-sync and in order. They feed off each other. The Finance Minister has shown the 2020 Draft to the parliament days ago. The draft has the exchange rate at a program rate, as it has been not voted on it yet, a not normal thing at all. But they tell us that the budget can be changed or delayed. In other words the 2020 budget can be amended. I believe there is support that it will be amended away from a program rate. Because, they are not able to borrow at a program rate or they would have already. They have exhausted all avenues with the IMF, WB, countries, etc...imo... *** Jeff ...there is no rate inside the budget...because the reforms are in the budget that makes the budget married to the rate change. Because the reforms require the currency to become internationally recognized... that's whey the budget is married to the rate change. That's also why the reforms are inside the budget, that makes everything married to the rate change and dependent on the rate change. They're showing you that they couldn't implement these reforms and push forward with them until the currency is internationally recognized...that's what we're waiting for... *** Mnt Goat Article: "The Independent: Iraq has no choice but to take austerity measures or float the currency" Finally!!! We have some news we wanted to hear for almost a year now. Yes, this is HUGE and WOW...news for us. *** Jeff Why is Iraq in the process of approving a 3-year budget? Why 3? Why no just the '21 budget? It's because of the reforms. They told you the reforms can only be implemented in stages and phases. So they can only implement the reforms over an extended period of time. They're showing you they're starting the reforms in this year of 2020 - in the second half of the year...they're going to span the reforms over almost a 4-year period...from 2020 through '23... *** Pimpy Article: "Iraqi Politician Calls For Normalization of Ties with Israel" ...more possible peace in the Middle East...now Iraq politicians are indeed wanting to normalize ties with Israel...you're gonna see more of this. More and more. Then of course the media is going to keep trying to find ways to keep you distracted from all the great things that Trump has done...who does not want peace? ...I would love to see peace in the Middle East. I would love to see them flourish. I really would. I want to go there and visit.