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By Adam Montana
Good day all! Today is Wednesday, 14th of August 2019.
Last week we had some good comments - let's keep that going this week.
We are at the end of Eid al-Adha, but that's not a holiday that brings business to a complete screeching halt like Ramadan. There is a lot of movement regarding the HCL, like the article below... I feel like handing out some awards this morning!
Two trophies go to @DinarThug - one for the hilarious crypto related GIF,
... and the next for a solid HCL related article:
@Pitcher takes a medal for the solid GOLD post:
This Iraqi dinar RV really looks like it's in the final stages, like the last swirling bits of something being poured through a funnel.
In your opinions, what's upcoming on the Iraqi RV schedule?
Comment below and let's hear what the group has to say on important upcoming events... there aren't many left.
P.S. If you subscribed to the brew's free newsletter, you'd already know about this salmon cannon... nothing makes my morning (check out the first response to that tweet) like some unnaturally flying fish!
By Adam Montana
Good morning all!
I have nothing to add to last week's update as far as my opinion goes.
This thread has the most recent relevant news:
One thing to note: we have a short "official" break next week. We will see if that actually affects anything... with our current momentum, I doubt it will make a difference.
There is a handful of fairly meaningful posts in that thread above, and it's all recent... I highly recommend taking a look at it!
Gold - hey hey! After yearrrrrrrs of flatlining, gold finally moved. Here's a good link. I know we have some diehard metalheads around here.
In the crypto world - things are rocking and rolling there too! This was posted last Saturday in the VIP crypto section - leverage your crypto with this service. Pretty cool concept! https://www.coindesk.com/mastercard-co-brands-xrp-capital-backed-nexos-crypto-card
So... what are your thoughts on dinar this week? How about precious metals, are we poised for a bull run? And don't forget the cryptosphere! BTC is at $11,772 as I write this... not too shabby!
Comments go below.
By Adam Montana
Good evening everyone!
It is currently Thursday, 1st of August 2019.
I started this yesterday and had a crash on my computer... by the time I got it sorted out, I realized I wanted to go a completely different direction with the update.
Then I got swamped with *life* and before I knew it, BAM! A whole day had gone by... I'll just get to the MEAT of it!
There's a lot of talk right now from the gurusphere... Article IV of the IMF, Article 140 with Iraq, HCL, Article VIII, August 2, Tiers of Tiers liquidating or being liquid or spilling liquid or...
The interesting thing about all this new Guru stuff out there? They are actually on the right path, for once.
Except for that garbage about "tiers" being "liquid"... but if the Gurus were getting it ALL right, we'd be in a pretty scary time!
The IMF, GOI, and a few other sources are putting out some VERY high profile talk right now, and it's too hot to ignore.
We all know I can't predict the date or the rate, so I won't try... but I'll say this again:
It's too hot to ignore right now. Sure hope you're in VIP!
The following thread is about to be locked due to exceeding the bajillion post limit... blame @Synopsis and posts like this:
Whether you're in VIP or not, now is probably a good time to throw out a couple friendly Public Service Announcements... my friends, be SAFE and SMART when this happens!
1. Don't hand your currencies to anyone outside of a financial institution or maybe a currency exchange! (Regarding currency exchanges, there's almost 0 chance you'll get the "best" rate there.)
2. NOBODY IS CASHING IN EARLY! I'll send an email to every member of DinarVets, and a text message to VIP members. VIP members will also get extra instructions, to actually get the best rates and the wisest next steps. VIP IS MONEY WELL SPENT.
3. You WILL pay taxes... or face the consequences. If you want to pay the least amount legally possible... I have three letters for you: V. I. P.
4. The initial rate *may* be the best we will get... or it may be wise to hold out for a subsequent raise. I'll inform the VIP members on all of this.
5. DinarVets will remain online, but it may be largely unmoderated... there's a chance that all topics will become "Read Only" while I'm busy working with the VIP members during the first couple weeks. You're going to be tempted to go elsewhere for information... you'll wish you were in VIP, with access to the VIP resources. I'll post as much information as I can, to help the general public, but I won't be able to take my time to monitor or post updates for those that didn't support the site pre-RV. BE CAREFUL OUT THERE.
There's more, as always... there is always more. There is very little chance that you will need to cash in immediately, and a very big chance that some guru will be saying you need to. Just be sure to keep a cool head when this goes down.
I am REALLY looking forward to some further developments on the latest, because I can't remember the last time we had THIS much good stuff brewing all at the same time.
By Adam Montana
Good morning good morning and happy 24th of July!
I posed a question last week, regarding the budget and how "necessary" it is to change the value on the currency.
Follow up... let's say the Department of Lawn Fertilization has 1 million IQD allocated to it. That's approximately $1000 (USD).
With an RV of 1:1 with the US dollar, the Lawn Fertilization Department now has 1 million USD, which is probably overfunded at that rate and wouldn't make sense, right?
I see this playing out one of two ways, and only one really stands a chance...
1. The previous budget stands, leaving a majority of departments overfunded to the point they have a surplus for many years.
2. Immediately following the announcement of the rate change, a decree is issued stating that the previous US Dollar amount allocated to the Departments is still being used, and Parliament gets to work with a different mindset on the next budget.
Iraq is currently operating on a budget fit for a pauper, even through by rights Iraq should be one of the wealthiest nations in the world.
Iraq has, in the past, operated on budgets and status befitting their actual situation - that situation being one of the wealthiest nations in the world.
This is such a basic and fundamental concept that it doesn't even need to be explained in detail. The natural question most of us have at that point is something like this: "When the rate changes, how is the Department of Lawn Fertilization (and every other Department) going to be happy with $1000 while there's obviously more money available? Won't this cause immediate civil unrest, throwing the country into chaos again, and immediately devalue the dinar again?"
That would indeed be a problem!
There's an easy solution: All Departments get an immediate credit, or "loan", equal to their portion of the budget X the RV rate. If it's a 10X RV, then the Lawn Fertilization gets access to 10X their original budgeted amount, to be reconciled and adjusted prior to the next Budget.
The list of Departments that need to be accounted for is not so long that this would cause any problems.
The Departments having access to a greater amount will curb excess spending and abuse... the Department of Lawn Fertilization may not need 10X, so as they utilize their "credit", a cap can be applied to individual Departments throughout the remainder of the budget year.
The People who hold physical Dinar simply benefit by the increase in value, just like we will.
A new printed currency comes out within weeks or even days of the rate change, and we're all aware that the new notes are ready to be printed, if not already printed and being held for distribution.
Iraq is currently in the final stages of preparation to return to their previous status in the world. They are not a country that has been in poverty for centuries... the are barely over a decade into their current situation. They have had a short setback in their financial situation, but at their core they are a rich country and this is not a huge mental shift for them to return to prosperity.
The budget, in my opinion, is not something that will hold them back. A few strokes of the pen and some clicks of a mouse and the Budget is adjusted... bada boom, bada bing. Easy peasy lemon squeezy, no matter how they decide to handle it.
It's not a complicated path.
@presence made a fantastic post in last week's thread - I think it's worth repeating:
"Theres been tremendous progress since the elimination of the dasholes (despite the lack of elimination of a former PM.). SWIFT codes and.KPMG werent even a thiught a decade ago, nor was president Trump. I mention the latter because a proper 'deal' could and would eliminate the entire US debt - which is possible mathematically and would be structurally sound.
I find it interesting that Trump.made a relevant reference in the news this week; while referring to the fact that the Iranian fiasco setup by Obama (Aka Valerie Jared) was only supposed to be 5 years in duration, he stated that agreements should be much longer when working with countries- in excess of 50 years in length. I recall reading an article prior to his election in which he said we should just take the oil from Iraq for what we've done for them; I'm sure Iraq and all other nations involved would agree that a lengthy deal.would be and is preferable.
Recent events (just to name a few) such as the recent visit - and followup meeting just yesterday- of KRG with Baghdad, public comments regarding the completion of article 140, Mahdi's visit to the White House on or about the 15th of July, the yet to be released statement and conclusion by the IMF (I'm pretty sure we would've heard something by now if their summation was negative), the stability and strength of the IQD's market rate and a sustained fluctuation of less than 2%, stability and duration of the current price of oil, the development of digital technology and the coordination between NASD.and the Iraqi stock exchange, the recent "Fire Drill" at the IQD, continued unrest and public demonstrations by the Iraqi citizens - all point in the direction that a positive change in rate of the IQD is coming - this year (I personally won't be surprised if it comes by Aug. 2nd.)
The most encouraging thing I left out are previous comments from the CBI that state a change in rate was supposed to have aleeady happened -years ago- and that it didn't due to problems in Iraq that have since been resolved- which further proves the current state of stability and security in Iraq.
I don't know how much more I can add to that! Nice post, @presence
One more thought before I wrap this up - a lot of our news threads here have exceeded thousands of posts. Those threads will be locked (mods, please help me out here) in an effort to bring the most current news to the attention of those of us interested in reading. If you see a locked thread in the news sections, this does not mean we don't want to continue the conversation! It just means it's time to start a new thread on the topic.
Have a fantastic day, everyone!
By Adam Montana
Happy Saturday all!
The week was long, my apologies for getting this up so late...
... fortunately, I do not have to apologize for anything in Iraq. I know most of you don’t read the entirety of all the threads (who has time??), so I’ll bring a couple of important notes here.
This one, in particular, spells out EVERYTHING.
Iraq needs HCL (oil law) to really kick things into high gear. The oil law is many things, but of extreme importance is it’s scope regarding Kurdish relations with Baghdad inside the country.
You don’t have to do more than skim the following to see that this is ALL about that... and pretty much 100% positive.
That’s excellent stuff regarding the HCL, so I’ll leave that one for now. I have a question for the members here - I have my own opinion, and I’ll share that in an upcoming update.
The “budget” - specifically, this:
There are a few “known” budgets. The operating budget that’s currently in place and a supplemental budget scheduled for September. We can argue that there are more than that, but let’s keep it simple.
I’ve seen a few comments regarding the possibility, or even impossibility, of a change in the rate without the “next” budget in place. This seems to suggest that people think a budget must be released that accurately accounts for an increased exchange rate.
This means Iraq would give the world a large notice that they intend to change the exchange rate before they actually do it... am I reading the comments wrong, or is that really a belief held by some of the members? If it is, I just want to understand your logic.
That's enough for now, I’ll follow up on that somewhat loaded question in a couple days.