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    • By ronscarpa
      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 *** The president of the Republic of Iraq has signed off on the 2021 budget. They began implementing it Thursday...

       
      *** MilitiaMan *** I'm just glad to see that the central bank has been in the process of improving the exchange process. It looks good, really good...

       
      *** Frank26 *** Never in the history of Iraq have we ever seen a budget approved signed sealed and delivered and implemented.  Never.  The dictatorships of Iraq have always stolen the money.  Not only from the government but from the CBI auctions...what does the budget have to do with the monetary reform?  A lot.  The exchange rate is it.  The HCL is in there...
       
       
       

    • By ronscarpa
      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 *** Article: "The president of the Republic approves the 2021 budget and returns it to the government to implement it, starting tomorrow"  Yay - finally it's been ratified.  No rate change was in there unfortunately.  We'd love to see one...congrats - the budget is done...this is great. This is what we want to see...these are big steps in the right direction...



      *** Frank26 *** Allawi Video Quote: "We started with reforms, we started the process of automation, reform processes related to the currency and the exchange rate, and these are all measures aimed at straightening the Iraqi economy." ...amen, glory hallelujah, praise God..! ...this is it right here. 
       
       
       
      Happy Thursday everyone ... Blessings ... RON
    • By ronscarpa
      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


      *** Petra  Guess who's coming to Iraq in a couple days?  Barzani the head of Kurdistan...his deal is done.  He got his 13.97% which is a lot more than I thought he was going to get...he's coming to town.  Why would he be coming to town?  It's not to negotiate some more for his contract.  He's got it.  It's signed.  It's done...the timing...it makes a lot of sense.  


      *** MilitiaMan  Article: "US-Iraq strategic dialogue to take place on April 7"  Quote: "The relationship between the US and Iraq, including its military presence in the country, is based on a strategic framework agreement signed in 2008. It called for close defense co-operation to deter threats to Iraq's “sovereignty, security and territorial integrity."   The talks, due to take place next Wednesday, will focus on security, counterterrorism, economics and energy, political issues, and educational and cultural co-operation.  Gotta love the timing of things...The economics and energy has my attention for obvious reasons... The oil deals we see of late are all about economics, yet, security is a part of that and big time too. The Tripartite with Jordan and Egyptis the following day... Watch and see... This is all for a purpose... I like it! imo...

       
      *** Ray  A Shafq News source reported that President Saleh has ratified the 2021 Budget Law and returned it to the Ministry of Finance to start work on it for Thursday.

       
      *** Petra  This is the endgame.  This is what we've been waiting for...once that thing [the 2021 passed budget] is signed that is game over...it's gonna be the last second and they'll release the parade.  But they are officially on the clock so that's the good news.  It's getting sweeter and sweeter every day because every day we're getting closer and closer to what we're waiting for.  So yeah all very very exciting...

       
      *** Frank26  Article: "After weeks of delay, Iraq's council of representatives passes budget for 2021"  The fact that this budget has been passed is only because they have a new exchange rate.  They have never had one before...

       
      *** Pimpy  Again I have to bring this up because people are asking me.  Again, no, there is no 1 for 1 exchange rate happening in Iraq.  That's false.  I told you guys what that would create.  A huge large black market of the Iraqi dinar.  You would have people buying cheap out of country smuggling the in country exchange the 1 for 1 grabbing their profits and running back out of country buying more dinar and going back in.  When the exchange rate happens it happens inside country and out of country all at the same time...
       
       
       
      *** MilitiaMan  the main thing is, is that they tell us the budget will be applied retroactively for many many months.  Implementing that retroactively from the 31st tells you them stopping the auctions has all been timed...for this particular purpose because it's all about the exchange rate...it's awesome.  Good deal.
       
       

    • By ronscarpa
      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 *** Only pay attention to the Prime Minister Kazemi.  Only pay attention to the Central Bank Governor Mustafa...all the negativity you see out there in those article you have been well trained how to decipher it...I saw a post from someone today that said I saw that article today it was from parliament, yeah it was his opinion so I flushed it.  I posted well done good student...that's how you get rid of these headaches.  If you really want to be aware of what you're doing with this investment you have to be a good student...

       
      *** Mark *** The good news coming out of Iraq is they shut down all foreign currency auctions on us dollar and Iraqi Dinar yesterday…they won’t sell any more in anticipation of the change in value. One article I read is (if translated right) sometimes in the next 10 days they expect a change in value. Why didn't he post the article...maybe because there wasn't one..!

       
      *** Petra ***  Stopping the auctions...nobody wants to be on the bad side of the equation.  I consider it like hot potatoes...You didn't want to be stuck with the hot potato when the music turns off.  The banks are feeling the same way.  They don't want to be stuck holding that hot potato and they lose on the transaction.  They're very very conservative.  IOO they are being very wise in holding off on those auction until  next week. There's got to be a reason for that.  Right now the budget has not formally become law because it has not been signed by the president to our knowledge and it has not gone into the gazette.  The president has between 3 and 15 days to sign that budget...we have until the 14th for that event to occur.  Again, rate before budget.  The rate has to be in that budget before it becomes law.  We're in quite a countdown now.  
       
       

    • By ronscarpa
      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  Aren't you impressed, now I know it's not signed but...we have a budget.  Do you realize that we've never had a budget since 2003 when we went in there to rescue them.  There was no budget.  Why?  There was no need.  Why?  There was no new rate.  Now all of sudden we have a new budget for the very first time.  The president is about to sign it.  It's about to come in and bring in the white papers.  Don't you just find it delicious..?   ***** From Monday 4/05/2021 *****
        *** MilitiaMan  Article: "The currency auction stops for a week as a result of banks’ fear of changing the dollar’s price"  They have enough dollar reserves to get them through until a new exchange rate is applied, hence the fear of buying now. We have been told that this would happen in the past. They told us dollars will get scarce before the new dollar will be used again. So by staying out of the market reduces risk.  With all the international contracts coming in, they’ll need an international exchange rate applied for to facilitate the foreign exchange with freedom of capital. They also note that the budget will be applied in a timely manner while dealing with the exchange rate. All within this week or so...(post 1 of 2)..    *** MilitiaMan  Will that rate leak out, maybe not? We shall see. There were articles to support that an exchange rate change is coming. The citizens are getting hammered in respect to goods services, pricing, etc...So, I feel comfortable knowing that the fear of the buying the dollar is a sign of a big change thus the closure of the auction. No one wants to be holding the bag and be on the wrong side of a trade with a big move expected to come.. That can be disastrous in magnitude...Therefore, the planning had to be done down to the wire and that wire got started Wednesday of last week so they say... 03/31/2021.  Let’s see what the next 24-96 hours brings!! Real close anyway!! imo, it shall be interesting to say the least! Imo...(post 2 of 2).. 

        *** Pimpy   ...there is a lot of chitter chatter going on with these middle eastern countries...there's some concern about the current administration being in there...what they hope doesn't happen is the same thing that happened under the O---- administration ...while the United States is having dialogue and meetings with Iraq at the same time they are also negotiating with Iran on their nuclear deal...I'm thinking that a lot of these countries over there...want some type of reassurance...
        *** Kaperoni  ...There is no RV, it's not how monetary policy works. All you have to do is read the IMF Article IV Consultation with Iraq to know there is no RV or change in the exchange rate expected...I assure you they'll be no change in the exchange rate in April, for that matter the entire year...
        *** Pimpy  ...It seems like every single day the exchange rate is in the news for one reason or another...just be careful about how you're reading these things...all it is simplified is they're trying to stop using dual currencies.  Just use the Iraqi dinar to help strengthen the dinar...I really strongly still feel that the rate will change before the end of the year...  
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