Frank26 The demand on the dinar is so great right now that I think it demands a reinstatement of $3.22.
Pimpy Question: “So you’re saying there will not be a reevaluation?” I never said that. That’s one of those fake rumors that are going on around about me, that I said that’ll never revalue. I never ever ever ever said that it’s never going to revalue. What I told people is, it might not happen the way people think and that’s what people don’t like.
Sandy Ingram If the Iraqi dinar revalued next week are you ready? …Understanding this one fact, you will do just fine. The wealthy never never ever spend their bases or the foundation of their wealth. In your case this would be the profits from your Iraqi dinars...Wealthy people invest their initial profits. The first person they hire is a financial advisor. The second…is a tax professional…to make sure Uncle Sam doesn’t get large sums of their money. If you do anything else you are in the fast lane to going broke.
Clare Article: “Iraq announces the start of direct flights between Baghdad and Beijing”
MarkZ [via PDK] I keep getting loaded up on the Rumor side …There is a lot going on and they are saying that we hit the banks sometime around July 12th. We will see what is accurate as we get closer…but my goodness, the enthusiasm from the banking side and the group side is nuts. It’s exciting but I don’t want it to be another let down.
Frank26 Question: “Have the new smaller notes been revealed to the citizens of the public?” No.
Walkingstick [Iraqi bank friend Aki update] The CBI board of directors decided…to hold meeting with only all of their executives of all their banks…These two or three meeting are going on… This is on the subject of the monetary reform, lower notes, exchange rate, budget … These next few days are going to be very silent. The press will not cover
it. No one will know anything about it. They will suppress this information…This silence is normal and to be expected right now. [Aki] has seen this quietness before when the CBI was getting ready to make a major move.
Militia Man Key players are ready to get this thing done. It’s a very good sign. I honestly believe we’re watching history in the making…We’re seeing progress like no other…If you’re paying attention I think you guys should be really pumped and excited that things are happening.
Pimpy Article quote: “Saleh showed in the news that the fixed exchange rate system in Iraq is based on the international reserve base that is the highest in Iraq’s history and monetary policy as their foreign currency covers more than 100% of its total currencies issued.” I spoke about this before saying that the more Iraq has in foreign currency reserves the stronger its currency will be. Right now they’re at the highest it’s ever been.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Saleh is on TV and his is saying…our reserves are strong and there’s no problem of the dollar in the market…By July 14th all will be fine with the parallel market rate. FRANK: Your reserves to back up your new exchange rate, your new national currency, is off the hook. It can not only back up your currency but probably other currencies at the same time…
Mnt Goat “In light of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level…” Saleh… financial advisor to the Prime Minister…is telling us…the parallel market versus the official rate are under control and no longer an issue for stability. It also tells me they have their inflation problem under control. This is amazing because my CBI contact told me this one of a few other issues was the reason why the Project to Delete the Zeros was not kicking off…
MarkZ [via PDK] …in Iraq they are working with the Saudi’s directly to complete undersea cable agreement for internet connectivity. Iraq is becoming a central hub for communications in the middle east. Big news for Iraq. If you are going to be a regional leader- Iraq is going to need some higher valued dinar…imo
