Frank26 [Iraq boots-on-the-ground report] FIREFLY: Saleh is saying the start of implementation of the government and banking reforms has started. FRANK: Woohoo! …The new exchange rate is the pivotal role they are about to give them…
Pimpy Community comment “Parliament doesn’t have to vote on a budget…” They do whenever you make amendments or changes...If you’re going to change something in there you have to vote on the amendments… Community Question “So you’re saying if they’re gonna change the exchange rate on a budget they have to vote on it?” That’s correct. Yes.
Clare Article: “On a tour that included Karbala, Babylon, and Ur… Two American tourists: We felt completely safe in Iraq” Quote: “Hudson and Emily Crider, travel the world on a mission to explore each country and document its cultural experiences…In a series of more than 20 videos, the Criders detail what it’s like to be an American tourist in Iraq, offer travel tips and debunk misconceptions about the country…They said: As Christians, we found (Karbala) a wonderful city to see and the people were very welcoming. It is really special that they allow people of all religions to come here and learn more about their beliefs.”
MarkZ [via PDK] I have had a number of contractors in the last day or two tell me that they were told to prepare for between $3.60 – $3.90 [for the dinar]…
Nader The budget have to be approved by the parliament…Sudani cannot make a decision by himself…The budget doesn’t have to be approved by parliament…it’s not true. They have pass by the parliament and parliament have to vote for it. Any changes on that budget the parliament have to agree into it and have to vote for it and have to sign it and send it to Sudani and then the president of Iraq…It is active yes but not completely active. Any changes have to be approved by the parliament of Iraq.
Frank26 The budget does not need parliament…The budget waits for the exchange rate. The exchange rate is not waiting for it or anything else…The budget is born without them…
Militia Man When you talk about drop the three zeros…Al-Sudani’s goal is to bring purchasing power to the his citizens. When he said $0.76 that’s purchasing power. It’s not a lop. It’s purchasing power. If you have a lop you don’t have purchasing power, you just have a change in denomination…They’re going to bring purchasing power to the citizens. All of that is happening before our eyes.
Pimpy Question: “If thy delete the zeros will our dinars drop in value?” If you’re in Iraq you don’t lose any value…People who are invested in the Iraq dinar…EXAMPLE: Let’s pretend like the new exchange rate has changed and you can get $1 US for every 1 dinar…If you had the 25,000 dinar, the 1 to 1 would be perfect without them deleting the zeros. That’s because you would get $25,000 for your 25,000 dinar. But if they delete the zeros…your 25,000 dinar is now reduced down to a 25 dinar. Even if they go 1 for 1 that means you’re 25 dinar is only worth $25. So yes, your dinar would drop in value if they delete the zeros before the change in the exchange rate happens.
Walkingstick and Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq the CBI governor is on the television and he’s talking about the banks and the financial inclusion. They are saying to us that there are changes coming…Iraq has just given us Identity Program. This will be launched next Thursday on the 6th…They called them Unified National Cards. WALKINGSTICK: Those are nothing more but identification cards because you’re going to be needed them when you go into the bank to get your new currency.
Mnt Goat …What will May bring us investors? I have to tell you that April’s news was amazing and I don’t know how the news can top last month except maybe give us what we are looking for. Am I saying its going to RV in May? Of course not…no one knows the date of this event…Does it seem that we are very close? Yes, it seems this is just around the bend and the finish line is in our sights. …there is a huge glimmer of hope we could see the RV very soon.
MarkZ [via PDK] Question: Anything new about the rate of the dong [Vietnam]…? MarkZ: I am hearing the dong rate could be in the $3+ range now. I hope this is accurate. When I first got in this I was hoping for .31 -.36 cents. Then I was consistently told it could be in the low $2 range…which would be spot on for a reinstatement. Now I am hearing it could be as high as $3.60 or so… That is what is showing on bank screens. I do not know if it’s a place holder rate…but it is showing up a lot.
