Frank26 This information of the monetary reform it’s like a wildfire that’s slowly growing and spreading.
Clare Article: “Parliamentary Committee to Al-Eqtisad News: The Oil and Gas Law is Almost Complete, and This is What We Hope for from Barzani’s Visit to Baghdad”
Sandy Ingram Article: “JSC: The government has successfully completed the sale of securities” Quote: “The government has successfully completed the sale of financial bonds…all the financial bonds that were sold, were all subscribed…This reflects the strength and stability of the State of Iraq.” Government bonds are a type of debt-based investment, where you lend money to the government at an agreed interest rate. Governments use them to raise funds that can be spent on infrastructure or new projects and investors can use them to get specific returns paid at regular intervals…
Pimpy Are you going to tell me July 18th is coming up Pimpy…They have to change the exchange rate in order to be a member of the World Trade Organization. As I explained before, Iraq has been a member of the World Trade Organization since 2004. They’re just going through to re-qualify. That’s it. The World Trade Organization has nothing to do with Iraq’s official exchange rate. That has to do with the IMF and the World Bank…Just because they have a meeting on the 18th, that’s just for them to go to the next step… The WTO has nothing to do with the exchange rate.
Frank26 Question: “Do they have to pass the HCL before it RIs?” The HCL is already passed. The HCL has no need for anything. It sits there. Now, parliament is coming out and saying, we need to pass some laws in order for you to have the HCL and that might be.
MarkZ [via PDK] There is a lot of chatter as of yesterday over the HCL in Iraq. Article: “Parliamentary committee for “Economy News” The Oil and Gas law is almost complete-this is what we hope from Barzani’s visit to Baghdad.” They want you to know they are almost done with HCL. From day one I was told to look for HCL being completed and then BAM you are headed to the bank!
Militia Man Al-Sudani told us what? The project to delete the zeros is on the table. He said $1 will equal 1.32 dinars…If you look at the math, that’s dropping the 3-zeros.
Samson Article: “Official: Iraq’s accession to the World Trade Organization is imminent”
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Bank friend said something strange and interesting. Don’t be surprised when this does come out it will come out pretty close to the cap or just maybe a fixed rate…It is possible they come out just right away at $3.22 because remember this is the reinstatement of our currency. FRANK: Boom! Boom! FIREFLY: They have so much riding on this with investment and any setback in the market could lead to a disaster of our monetary reform. Let’s just say it comes out at $3.22 and it starts to move in the float or it could be fixed rate for a special period of time…
MarkZ [via PDK] I have been told by a number of different sources that the system [QFS – quantum financial system] is fully in place and tested. Nothing left to do but trigger it…with a possibility (treat as rumor- as we have heard this before) of money moving for us/ currencies as early as next week. This is all coming from many, many different sources right now. Reputable sources. This is very consistent chatter with big expectations. The system is in place and they hope to trigger it. I am pretty excited…
Mnt Goat I want to quote from the financial advisor to the Prime Minister, Mazhar Muhammad Saleh from one of the articles – “The fixed exchange rate system in Iraq is based on the highest international reserves in the history of Iraq and its monetary policy, as foreign currency covers more than 100% of the total currency currently issued.” So, this is telling us that the foreign reserves can back the dinar now in circulation by 100%… This is amazing. What wealth. But the dinar is still at 1/6 of a penny?
