Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani’s speech he was talking to us about how to enhance a currency. They’re talking about stabilizing the currency.
Sandy Ingram It is widely believed Iraq will need to increase the value of its currency in order to fully take advantage of the international transportation hub [Development Road Project] it is building.
MarkZ [via PDK] …my expected window opens today…(11th through the 15th).
Pimpy They have to do something about that parallel market. The reason why it’s so successful is because people prefer to get the US dollars if they can. If businesses and travelers want to get more bang for their buck, they don’t have a problem with selling the US dollars for more Iraqi dinars, more than the official exchange rate. It puts Iraq in a pickle…Do they raise the rate of the Iraqi dinar or do they lower it?
Fnu Lnu [Response to Guru Pimpy’s 9-10-2024 analysis below of Article “The parallel market will be overturned.” PIMPY: When they say raise the dollar exchange rate, that’s not good for us. That means the dollar is rising up against the dinar…] FNU LNU: The solution is so basic and simple it defies this hand wringing. Why is it such a mystery? The way you control the “parallel market” is to raise the damned official rate such that there is no profit margin to be had. I will maintain that this is a red herring and some sort of stall tactic.
Above mentioned Post is below
Pimpy Article: “The parallel market will be overturned. Sources: Upcoming decisions from he central bank that will confuse the markets and raise exchange rate.” It’s interesting they don’t say which exchange rate… Quote: “He stated the decisions are likely to raise the dollar exchange rate in the parallel market…” When they say raise the dollar exchange rate, that’s not good for us. That means the dollar is rising up against the dinar…On the black market people are getting 1505 dinars for every $1.00… which is much higher than the 1320 for every dollar, the official exchange rate…It’s getting out of whack again. As it gets harder and harder to get the US dollar, you’re going to see the black market really start to increase. I’m curious to see what kind of decisions the central bank is going to make…
Clare Article: “Iraq’s financial revenues exceed 77 trillion dinars in 7 months of 2024″ Quote: “The Ministry of Finance revealed on Tuesday that the size of Iraqi revenues in the federal budget during 7 months exceeded 77 trillion dinars, confirming that the oil contribution to the budget remains around 89%.”
RayRen98 OKAY, WE DIDN’T WAKE UP WEALTHY…AT LEAST NOT YET. THEY’RE CLAIMING THAT IT IS DONE BUT I DON’T SEE IT – NOT HERE, NOT THERE, NOT ANYWHERE! LOL
Militia Man “…Understanding between the Iraq Federal Government and the Kurdistan Regional Government…” You have two entities coming together…They had a lot of turmoil in the past… Now they’ve come to an agreement…A huge delegation from Iraq has gone to the Kurdistan region – The highest executive authorities in Iraq, the Ministerial Council of Economics…Planning, Trade, Interior, Central Bank of Iraq, legal…finance, oil department. The whole list was immense…with their counterparts from the Kurdistan region…working it out, which reeks of national reconciliation…If they get National Reconciliation I can see Iraq is going to go so far. It’s phenomenal…Reconciliation is historic.
Frank26 Alaq, he’s back. He got back Friday…Where’d he go? Straight to Erbil…By the way, he’s happy…He’s got pep in his step…I’d be on cloud 9 right now too because of what they are about to give you [Iraqi citizens], the purchasing power. Your economic reform is going to explode in a nuclear fashion. Your country is poised to lead the world with its new monetary reform. The beauty is the whole world knows it. And the whole world wants it badly.
Mnt Goat …recently they have told us this electronic platform is going away at the end of 2024… corruption and money laundering is now all ending and has to end or we will not see any reinstatement. The instrument to do this is the Electronic Banking practices… Having the US Treasury inside of Iraq now helping with all these banking reforms is a VERY good thing not a negative issue. It is absolutely going to push the RV process for us…We might even say it is the LAST piece to put in place in the RV puzzle to clearly see the end to this RV saga.
MarkZ [via PDK] Question: Is your gut still screaming between the 11th and the 15th? MarkZ: Yes it is…. I know that chatter from Iraq has been fantastic.
