Wolverine [via Judy Byington] The RV is imminent…It is coming.
Clare Article: “Prime Minister’s Advisor: 70% of the grey market” Quote: “The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, revealed the existence of a grey market that accounts for nearly 70% of the market or private sector activity, indicating that this percentage evades paying legal taxes”
Pimpy A redenomination is not going to take place anytime soon it looks like.
MarkZ [via PDK] Question: Will they release the RV on weekends or week days? MarkZ: I am told its easier to release it on a weekend- Saturday night to Sunday morning …but anytime is fair game.
Frank26 Article: “The Central Bank of Iraq reveals the mechanism for ending the electronic platform” IRAN… SAY BYE BYE TO YOUR CASH COW AND MOOOVE OVER! Quote: “During the year 2024 and until now, 95% of the transfer process from the electronic platform to the correspondent banking mechanism directly between it and Iraqi banks has been achieved” MONETARY REFORM HAS BEEN ACHIEVED!
Bruce [via Judy Byington] The Dinar is trading on the Forex, but the rate is not exchanging yet…My sources say that the days of Sept. 6, 7 and 8 will be important dates for us.
Walkingstick They got stability and security. Sudani has been bragging about it…Lift the three zeros has to do with the value, then not with the value, back and forth, back and forth, it has to do with the value and then, no it doesn’t have to do with the value. The articles are contradicting. They are lies. They are misleading with a purpose.
Militia Man Who is at the helm of the Central Bank of Iraq? He [Alaq] got a lot of bad press recently. People were trying to get rid of him. He’s probably doing such a good job they didn’t like it and they wanted him out because the cash cow which is the parallel market makes them billions and they aren’t going to have that anymore. That time Is over.
Sandy Ingram Community comment: “The large money supply means any attempt to revalue the currency would require a substantial reduction in the number of dinars in circulation which is logistically and economically unfeasible…The sheer volume of dinars makes a significant revaluation highly unlikely.” [I] agree with this assessment 100%. The sheer number of bank notes scattered around the world hampers any real hopes of the currency revaluing at a high rate. This is the number one reason for believing Iraq may decide to issue new money like Pakistan or Zimbabwe…No one has said this is what Iraq will do…however it is a possibility.
MarkZ [via PDK] Question: Any news on passing the HCL? MarkZ: There is movement on that. Some of the problems are tensions between Iran and the Kurds. I believe some of the meetings we are about to see between Iran and Sudani will address this.
Clare Article: “Parliamentary moves to withdraw the hand of the Central Bank Governor” Quote: “The Parliamentary Finance Committee confirmed…the existence of a parliamentary move to withdraw the hand of the Governor of the Central Bank…Ali Mohsen Al-Alaq for exceeding the legal age.”
Pimpy Article quote: “Saleh said in a statement…he ruled out the government currently removing zeros. Noting the removal of the 3 zeros from the currency is not related to the value of cash but to improve cash payment system.” Wait, what did he say? ‘Not related to the value of the cash’? Isn’t that what I’ve been saying all along? What do those other [gurus] say? It has to do with the exchange rate. They’re wrong…This is what they’re talking about…25,000 dinar [note] times the current exchange rate $0.00076 comes out to $19. You come over here and remove the 3 zeros, a 25 [dinar note] times $0.76 – it’s still $19. No change in the value…
yada …It has been a week since the 95% of the banks in Iraq were activated to handle all the foreign currencies for business and trade. Im of the mind they were monitoring the movements of the currencies for the region and hence the expectation for any moment of us to exchange.
Mike Cottrell The word I got earlier this week was that things are in progress…and to stand by…But I am very encouraged by what is going on. Whether it is in the next few days or the next few weeks…I see this coming to a climax. I really do. And I am very pleased.
