Militia Man The council of Ministers, who we’ve been talking about a lot have been in the news with Al Sudani. He had two COM meetings in one day, which is unheard of…You can see where this is headed … What they’re painting a picture of is Iraq is imminently going into the international world.
MarkZ [via PDK] Sudani has said he wants to raise the purchasing price of the dinar for all Iraqis…both at home and abroad…He has also said he wants to restore the dinar to its former glory…
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Minister of Finance on TV saying they have activated the automation and digitalization process. FRANK: That’s important. Digitization…is the backbone of the monetary reform. That’s what’s going to move the currency in and out of the country but more so out there when it starts to float for us…That will add the Real Effective Exchange Rate to your currency.
Pimpy When they keep talking about returning to the ‘glory days’ they didn’t have inflated dollars. [Iraqi citizens] weren’t running around with 25,000 or 50,000 dinar notes. They were running around with much lower denominations. That is when the exchange rate was higher. It was against the lower Iraqi dinar denotations…At least be prepared for the fact that they’re going to delete the zeros and then change the exchange rate. That is more likely to happen. Is it possible to leave the zeros on? Yeah, of course it it. But think realistically about all this…
Henig Article: “Trump Organization to develop $1.5 billion golf course and hotel project in Vietnam” Quote: “In mid-September, representatives from the Trump Organization visited the province and met Hung Yen authorities to discuss investment opportunities, according to the provincial administration…We are excited to enter this dynamic market. Vietnam has potential in the luxury hotel and entertainment industry, Eric Trump, Executive Vice President of The Trump Organization, also the second son of former President Donald Trump, said in the statement.”
MarkZ [via PDK] Articles out how Iraq has completed all the steps needed to join the WTO: We knew they had completed all the steps and now this is an official statement saying they are done. Many experts besides myself including other intel providers…and members of the Iraqi finance ministry believe this will bring us their increased rate.
Wolverine …What I heard is that huge Whales have received their notifications and are flying to their destination to receive their blessing…I can’t say more until I’m allowed to speak. Nothing is guaranteed in this journey but I have absolute faith that any day we are going to receive the news we’ve been waiting for…
Militia Man They’re got e-government and their institutions doing payments electronically. 600 entities of the government already are doing it. That’s huge. There’s no turning back…The country of Iraq is embracing electronic digitization for the state institutions and the financial system progress has been massive…2 million cards the first year and 18 million more this year…It shows progress like no other…Turning on their new exchange rate will ignite the country into a digital revolution. The world will marvel over it…
Frank26 Sudani on Friday told the citizens [in an article] we’re lifting the three zeros to add value to your currency so you have purchasing power, all of this by the end of the year. Then the following day, Saturday, they [Barzani in Kurdistan] came out and they said word for word they’re going to lift the value, they’re going to add purchasing power, that’s what Baghdad..the central bank…Sudani’s people are saying. It looks like they want to get it done by the middle of October…
Clare Article: “The government completes the file to join the WTO” Quote: “Iraq has fulfilled all the requirements for joining the organization, through a package of legislation and laws currently being discussed to reform the current legal system to be in line with the requirements and controls of the international organization, such as coordinated trade policies throughout the country, including tariff rates and customs procedures.”
MarkZ [via PDK] If you follow most of their math on the REER (Real Effective Exchange Rate)…The worst case scenario or bare minimum it could possibly be is .76 cents… What we are expecting is in the high $3 range or low $4 range which makes the most economic sense. I am still being told to expect higher than that.
Bruce [via WiserNow] …as far as our timing for this…people are telling us…essentially it’s coming from three separate sources…Two of them are saying we could get notified anytime between Friday…and Monday, the 14th…One source is indicating…any time from…the ninth through the 14th.
