Militia Man Article quote: “The objectives of banking reforming Iraq will end with a high integration that achieves competitiveness, homogeneity, compliance and governance within the Iraqi banking market and achieves the integration of the national banking market with the global market.” They haven’t ever done that with an exchange rate of 1180, 1166, 1182, 1310, 1450…Never happened. Then why would they just all of a sudden say, ‘Now it’s okay’? …Integrating Iraq’s national banking market system with the global market system in my view will require a real effective exchange rate…
Frank26 What is it that the Central Bank of Iraq needed in order to bring forth a new exchange rate and the lower notes to the citizens? Security and stability. That was the key. You cannot do anything without security and stability…Article quote: “Alaq, the monetary situation in Iraq is excellent and our reserves support the stability of the exchange rate.“ …That’s a confession…you have stability!
MarkZ [via PDK] There are some golden articles out of Iraq overnight: “Finance Committee reveals the outline of amending the budget law” They are almost done. “The Oil Committee meets to discuss the text of the budget amendment regarding Kurdistan oil.” The Kurdish region will start exporting about 450,000 barrels of oil per month and a extra billion dollars from the Kurdish region for government revenues alone. These are huge numbers and would not be happening if HCL was not at least agreed too. I think they are still hiding that. It’s not been officially announced but there are some solid clues that it could be done.
Clare Article: “Al-Alaq: The monetary situation in Iraq is excellent and our reserves support the stability of the exchange rate” Quote: “Alaq, confirmed…the monetary situation in Iraq is very excellent, noting that the increase in the volume of reserves enables us to support the exchange rate and achieve monetary stability.”
Militia Man We’ve been waiting to hear some more information out of Alaq, the Central Bank Governor. Here’s Alaq – Article “The monetary situation in Iraq is excellent and our reserves support the stability of the exchange rate” That’s pretty powerful language from Alaq…They talked about the volume of their reserves and how much they have increased it to well over $110 billion. They’ve got gold reserves. They have that so they have the mechanisms in place to be able to have stability.
Pompey Peter [Post 1 of 2] A lot of people “called it”. A lot of people got egg on their faces. Everybody get’s it wrong from time to time and everybody has to take their turn. There are gurus out there with egos the size of a planet…who just can’t hold their hands out and say, ‘Oops, I got it wrong’…There was a slim chance, a slim chance, it could have gone but that chance depended on B320 which has to do with the bond auction…
Pompey Peter [Post 2 of 2] These are not the normal auctions these are the bond investment auctions which they were given 14 days to get onboard with…They would conclude the 26th…The purpose of those bonds was largely to give back IMO to the people…to invest, get their chunky dinars out, get some more of them off the streets and they could invest in their country. What it would mean is they get a nice interest rate when they matured in a very short time and it also meant they get the big lovely bonus of extra purchasing power when the RV occurred. They are due to complete [today 11/26/2024]
Samson Article: ”Al-Alaq: The monetary situation in Iraq is excellent and our reserves support the stability of the exchange rate“
MarkZ [via PDK] What are they saying the dinar will be worth now? MarkZ: …most people believe it will be in the high $3’s or low $4’s. On the dong we once again had new values show up again. Surprising rates on screens like $3.9003333 – I think it was. This was on late Sunday. Was it a glitch or hiccup or testing? We don’t know. But it is curious. If dong goes that high.
Frank26 [Post 1 of 2] [Chase Bank Story] FRANK: Does this wealth manager know you have dinars? BANK STORY PERSON: She does now! …I’m talking to the wealth manager and she wants to know what the investment is about. I said it’s about foreign currency. She said, what type? I said the Iraqi dinar and she said immediately, we don’t support that at this time. I was thinking in the back of my mind, Frank is right because when I spoke to her months ago she said, I don’t know anything about that…Now it’s, ‘we don’t support it at this time.’ I thought I was being kind of clever because I wanted her to realize how serious I was and I said to her…
Frank26 [Post 2 of 2] [Chase Bank Story Continued] You know Iraq is about to announce a new exchange rate and I’m looking for someone to take care of me…I looked at Wells Fargo…U.S. Bank and now I’m looking at you…I have Iraqi dinar and I’m looking to exchange. She said, well it has to be registered with a country and we don’t support it at this time but how much do you have. I didn’t tell her [exactly] how much, a ‘healthy amount’ and then she says to me, well, I want to get you in touch with a private banker. FRANK: Isn’t it amazing how their song changed as you were listening to her? What did she offer after that? BANK STORY PERSON: She said she’s going to put me in touch with a private banker. Now the next step is to wait for the private banker to call…
Militia Man All of those things over the last 21 years that they’ve been working on are now coming to a final end because they’re getting to that stage where Iraq is ready to hit the ground running. They have the saturation. They have the education for the citizens…well over $110 billion in reserves…153 tons of gold…Their coverage is completely well done for their currency that they have outstanding. That’s a really good sign.
Bruce [via WiserNow] …You’re going to get a contract rate offered to you on dinar… Dong is going to be a great rate, way better than certain people thought it would ever be.
MarkZ [via PDK] Article: “Iraq announces the results of its population census: More than 45 million” What does that mean? Many people are returning to Iraq that had left during the war. These results allow them to properly divide and move funds. The census being completed was another thing I was told they needed for the HCL…before they pull the trigger.
