Militia Man At the end of the day Iraq is showing us they’re going international. We’re going to watch it happen.
MarkZ [via PDK] We do have some interesting news…Article: “Economic Researcher: The Iraqi budget enters the danger phase” This article is telling us we are about to see an exponential change.
Frank26 Community comment: “I believe it will RV before the time they gave.” The revaluation actually started in 2012… Revaluation is to revalue the currency…This is not to revalue the currency, they’re going to reinstate it. It was $3.22 when it was brought down… Because of inflation do you think $3.22 would be fair over 20 years later? No I don’t think so. Therefore the exchange rate is not going to 1000 is it? It’s saying at 1320/1310. When they lift the three zeros that’s be a little over a dollar for the citizens. Now that’s fair.
Clare Article: “Ministry of Oil announces the start of exporting jet fuel” Quote: The Undersecretary added that the export process is a step in the right direction, to enhance Iraq’s role globally among the countries producing and exporting oil and its derivatives, in addition to that it reflects the prospects for development in the Iraqi oil industry. He explained that the export operations of oil products contribute to increasing the financial revenues achieved from the activities of the oil sector, and thus supporting the national economy,”
Samson Article: “Kuwait withdraws citizenship from those accused of stealing the century in Iraq”
MarkZ [via PDK] “The Minister of Finance says we need to adhere to timetables to achieve Economic Reforms” He is pointing out they have done an exceptional job but want to speed things up. Part of those economic reforms is an increase in the purchasing power… And they are modernizing their stock market. It has been a booming success.
Militia Man We had numerous articles about the WTO. We already knew they had completed their requirements. Now they’re hammering it home again they’re gearing to go international. What are we waiting for? I think what we’re waiting for is the exposure of the 2024 tripartite budget. Why? Because it’s go components in it for…investment to pay for the development projects.
Wolverine [via Judy Byingston] The process has defiantly started…It is expected to happen within the next few days and [definitely] within this month.”
Pimpy [Post 1 of 2……] The Kuwaiti dinar has always been the same denominations. Nothing has changed. When Iraq invaded Kuwait…you had quarter…half…one…five…ten…twenty. After Iraq was chased out…Kuwait just redenominated their currency. They changed the way the bank notes looked is all they changed…They didn’t have to change the nominal value of the dollars….There never was a need to delete the zeros. Their currency was not inflated like Iraq’s was...There was no inflated dollars, there wasn’t a revalue, there was just a reinstatement. They just had new looking bank notes. That was it. When Iraq invaded Kuwait…[Iraq’s] currency were lower denominations and their rate was $3.22…
Pimpy [Post 2 of 2] The difference between Kuwait and Iraq is…Saddam Hussein printed so much money that their dollars were super inflated. They had to add zeros to their currency…Kuwait didn’t add any zeros…If [Iraq is] going to go to that exchange rate of $3.28 they’re not going to do it with these inflated dollars. They’re first going to delete the zeros, then they’ll change the exchange rate. That means your 25,000 dinar is only going to be 25 dinar…For us Americans when we go to make our exchange we now have a 25 note…times $3.28…Your 25 note is now worth $82…Is there a possibility they keep the zeros on there? Yeah, there’s a possibility. Anything is possible…But…the odds are they’re going to remove the zeros.
Frank26 Sometime in the 90s China decided they were going to raise the value of their currency by just a little bit. The speculation ran wild so the government of China decided to put out a full page ad in their newspaper that made it very clear, no our government is not in the process of adding value to our currency…3 Days later the Chinese yuan went up in value by a little small increment. Whoa. Why would you deny it?
MarkZ [via PDK] “Iraq is the third largest Arab Nation with gold holdings” Iraq’s possession of gold has reached 152 tons. Let’s think about the values of other currencies in the region…like Jordan and Kuwait…Iraq is trouncing most of them in resources, physical gold etc… Iraq is making their case to support their higher value. And Iraq is diversifying with non oil revenues to support their currency. This is for safety and stability. Dr. Shabibi always said that if Iraq was safe and stable…he would give them a more valuable dinar…Iraq is one of the most safe and stable countries in the region and they are working hard at it.
Mnt Goat I have to start off with…some really good news, actually some news…we can see the path now and very clearly. So, finally we get word that Iraq has met all it requirements to join the World Trade Organization (WTO)…This DOES NOT make the RV imminent…all these recent activities and events matter and the RV is a “by product” of all these events not a singular event in itself… The view is now in sight and the writing is on the wall. So much on the wall that I do not believe anything is going to stop it short of a major disaster.
