Frank26 [Iraq boots-on-the-ground report] FIREFLY: CBI governor Alaq on television saying our foreign reserves at 140% above our current issued currency. FRANK: Based on those words, can you just imagine the potential of your next exchange rate?!
Militia Man In the eyes of the world, politically, all three presidencies are seated and that’s beautiful. That’s is really big time. I like that a lot.
Samson Article: ”US report: Washington avoids escalation or disruption of the political and economic situation in Iraq”
Walkingstick There are CBI laws and there are banking laws but Sudani is the man in control of the monetary reform. He is in control of the auctions. The auctions now only belong to the government of Iraq. They’ll go through the CBI but only for the government of Iraq.
MarkZ [via PDK] Article: “Sudanese arrives in Turkey on unannounced visit” …this one is important… this means we are seeing serious progress in the HCL. (Hydro carbon Law) This is a pipeline to Turkey and part of the “Development Road Project”…There is a large portion of oil sales from Iraq will be going out through a pipeline through Turkey. Most of the oil from the Kurdish region of Iraq already goes through Turkey…So this is an important step for the HCL.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: On television they’re saying the HCL will be approved on or before the end of this year. They’re saying the budget investment side also will be revealed before the end of this year. And all that must happen first before the new 2025 budget can go to parliament in early 2025. FRANK: Do you have more confidence in me…? Are you now on my side when I tell you this year not next year? FIREFLY: Yes, we more than understand.
Nader I read an article about the oil price …Remember I told you the oil price is $70. It’s really wrong…The Chairman of the CBI comes out and says, hey, we need to change the price of oil from $70 to $40 because they know the oil can reach $50 or $60 on the prices. In the budget if you put oil at $70, couple months from now you’re losing especially when the war ends…Oil for sure going to go down. The next step on the oil prices will be $40 in the budget. That’s very good because they know they’re going to change the rate and they want oil price in the budget works with the rate.
Clare Article: “Qusay Saddam seized $900 million and loaded it in trucks in 2003 – Central Bank Governor” Quote: “After 2003, we inherited an abnormal situation devoid of any real basis for stability. Our reserves that year were $900 million, and they were seized by Qusay Saddam Hussein and loaded onto a truck. This is documented by dates and numbers.
So we started from scratch. The money supply in circulation was only 4 trillion dinars. Today, the volume in circulation exceeds 100 trillion dinars, and our reserves have exceeded 100 billion dollars.”
Militia Man They’re maintaining control of the general level of pricing, they’re controlling inflation, reducing both in the management of monetary mass. Reducing the monetary mass, what does that do? If you take money out of the system, there’s less of it…You have more value. They’re reducing the money supply. Inflation rate was at 7.5% now it’s down about half of that 3.8%. If they reduced inflation by almost 50%, then wouldn’t that likely be reasonable to presume that they reduce the monetary mass about the same amount? It sure seems like it.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is saying now the currency auctions were a mistake and the dinar should be link to a basket of currencies. They say it’s the best thing for our economy. FRANK: This monetary reform education is off the hook isn’t it?! They’re telling them constantly. It won’t stop!
MarkZ [via PDK] Question: What do you think the rate is going to be Mark. MarkZ: Just a guess…But, I think it could be $3.91.
Mnt Goat Article: “AL-ALAQ: THE VOLUME OF CURRENCY IN CIRCULATION EXCEEDS 100 TRILLION DINARS” Quote: “Today, we have more than 100 trillion dinars in circulation (issued currency), not all of the money supply, and reserves of more than 100 billion dollars, which means that the Central Bank has achieved an important basis for monetary stability,” explaining that “inflation is the basic measure of the Central Bank’s ability to perform its mission and basic function. It is less than 3.8%, which is considered a typical percentage that actually achieves stability and prosperity.”
