Clare Article: “The Central Bank signs a memorandum of cooperation with the European Union and Germany to enhance financial markets in Iraq” Quote “this agreement represents a new start for cooperation between the Iraqi banking sector and the German side, noting that it will contribute to the exchange of expertise and transfer of knowledge.”
Militia Man Sudani has been on a tear because he’s been doing for over two years methodically nothing but achievements…
Frank26 Question “Will there be taxes? 37% on short term – 20% on long term?” Yeah, that’s about right, somewhere in that ball park. Ask a professional because I certainly don’t know the exact tax code… Question “We had currency for a year or more and we decided to buy more, will we still have to pay 40%?” Yes, every time you buy whatever you buy, your receipt verifies your time frame. That’s why your receipt is so important. If you’re ever audited you need to prove your time frame.
MarkZ [via PDK] Article: “The Central Bank signs a memorandum of understanding with the European Union and Germany to strengthen the financial markets in Iraq.” This is big and clearly shows Iraq is International.
Samson Article: “The Council of Ministers decides to suspend official work next Tuesday in celebration of Victory Day”
Pimpy They’re still struggling to find the right formula to close that gap between the parallel market and the official exchange rate which is going to be really hard to do if the very people that are supposed to be closing that gap are responsible for the parallel market in the first place.
Fnu Lnu [Response to Guru Frank26 America 1st Credit Union post 12-2-2024] I am an American 1st Credit Union member…The branch manager in St. Johns, AZ is a personal friend…[she] gave me the actual bank policies: Every branch can exchange not “select” branches/locations. There is a flat fee of $10…period! Not if you exchange more than $300. There is an additional fee of $10 if you BUY under $300…NOT exchange. All sales are instant up to $5000 per transaction … $10. The additional fee for buying under $300 is because the Fed-X fee doesn’t change…Our members can buy and sell currency for over 100 countries at any America First branch. And when you convert your cash ahead of time, you won’t have to worry about finding an open exchange office when you arrive in a foreign country.
Above mentioned Post is below
Walkingstick Back in 2003 the reason why the auctions were put in was to stabilize the exchange rate of the Iraq dinar but it didn’t work because of the thievery and stealing. So we gave them the US dollar in order to do this but once again it got out of control. Now on December 31 of this year these auctions are going to die…What will they use to maintain their currency stability? IMO exactly what they’ve been teaching them…A basket of foreign currencies with a new exchange rate where the IQD will be paired against other foreign currencies, which they have already admitted to that they have…It means their currency will now be convertible in that basket with no restrictions…What would be an example of all of this? The new lower notes.
MarkZ [via PDK] ”Central Bank of Iraq is pleased to present the Iraqi banknotes in circulation” …an article yesterday highlighting the new lower denoms in Iraq with pictures…$250 notes are showing up in mass…The $250 notes are only worth .19 cents US right now. Why would they release these unless they were about to raise the value of their currency?
Clare Article: “Al-Sudani and his ministers in a “secret” session in Parliament” Quote: “The House of Representatives voted at the beginning of the hosting session that the session would be “secret” with regard to the security aspect…[Sudani] explained the reasons for amending the Federal General Budget Law.”
Militia Man Article quote: “There is a serious keenness to show the image of a bright strong disciplined state in front of other countries and other people.” They’re going to stand up and be proud. I think when they showcase their new currency, their real effective exchange rate and all the things that they’ve accomplished in the last few years…they’re going to have a lot of people from other countries and other peoples of the world being congratulatory…
Frank26 Article: “Trade Bank of Iraq launches first experimental Visa card” …International transaction, you can’t do that at a program rate. You understand these clues? These are not ‘hints’. These are facts. These facts are nothing more but clues of the truth of the monetary reform.
Mnt Goat …Remember there must be a Stable and Secure Iraq in order to conduct this process of deleting the zeros… Oh… and we know what the final outcome of this project is and it will lead to the reinstatement…It is early December and my CBI contact told me the committee in charge of this rollout of the newer lower denominations is still planned for soon.
MarkZ [via PDK] Article: “On the occasion of Victory Day. official working hours will be suspended in Iraq next Tuesday” They are celebrating the removal of Isis from their land…. It would be a great day to celebrate. We have had a number of reports from inside the Iraqi government saying they plan to have the value raised by Victory Day… There is a lot pointing to over the next 7 days to be across the finish line…I really hope its accurate…
tishwash Quote: “Report and discussion of the second reading of the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023-2024-2025)” the 2nd reading of the 2025 budget amendments is on the Parliament agenda for today… we shall see…
