Militia Man Iraq is filthy with assets. All non-oil income…natural resources…are taken into consideration when they figure a Real Effective Exchange rate which we haven’t seen. The original $3.22 was based off oil. It was not based off non-oil…taxes at the borders, income derived from phone bills, electronics, sales tax, things of that nature.
Frank26 Question: “Are we waiting for after our elections or IYO does it have anything to do with it?” No, our elections have nothing to do with the monetary reform of Iraq. No, those are completely two different tracks, two different directions…destinations. Although one is depending on the other. Why do you think the US Treasury told Sudani, get your butt back there and get this done?
Breitling When people were buying dinar from banks here in the United States there was a difference in the exchange rate. One bank was 1% another bank was 2%…I bought mine from an American Chase Bank. I asked them where did they get their dinar, they got it from Bank of America. It specifically came out of Saint Louis.
Clare Article: “To avoid major chaos… indirect negotiations between Tehran and Washington in Baghdad” Quote: “Baghdad has actually begun to arrange the atmosphere and seek to crystallize priority understandings that may be the beginning of upcoming meetings, especially since all parties are open to the negotiations file, even if they are indirect”
MarkZ [via PDK] We are watching key things like HCL, WTO, Auctions ending and final budget tables…. All of this needs a new rate. We are in the fun part. They need to let her rip by the end of they year…but believe we are much closer than that. I am staying warm and fuzzy.
Babysmom WAITING TO SEE WHAT HAPPENS WITH FOREX TO DETERMINE IF SOME WORK THAT WAS DONE LAST NIGHT WENT THROUGH...FOREX OPENS AT 5PM EST TODAY.
Samson Article: “Al-Mandlawi: Iraq is focusing today on strengthening economic and investment aspects and sparing the region the scourge of wars”
Walkingstick Question: “What does it mean to you when they say ‘In the coming days’ the Iraqi citizens?” IMO that means now. Question: “They’ve used that phrase before haven’t they?” Yes but not surrounded by all the information that they’re giving to the Iraq citizens about the monetary reform on a daily basis…‘In the coming days‘, yeah, now. In the coming days, very quickly, now.
Militia Man Article: “The Minister of Finance stresses the need to adhere to the timetables to achieve economic reforms” This cooperation…goes far beyond Iraq’s borders…The World Bank, the IMF, the Bank of International Settlements, the WTO, United States Treasury, etc….all have reached agreements with respect to Iraq’s reforms and sustainability towards economic growth…It shows the aforementioned entities…know what Iraq’s reforms will mean to the world and the impacts it will likely bring to many nations of the world! …They are now openly making sure they are on record in saying so..
Frank26 Question: “The exchange rate change should be the next step before the lower notes and everything else right?” The next step is to introduce the lower notes and the new exchange rate yes. But in that process it’s a chain of events – Picture a room with 100 mouse traps…if you throw one ping pong ball in that room…one mouse trap will cause a chain reaction…to fire off. That is what’s going to happen when you have the new exchange rate introduced to the world...
MarkZ [via PDK] In Iraq: “Economist: 2025 budget amendments are pending and the date of approval before the end of the year.” Why is this important. We are looking at WTO with all files done and paperwork finished…and we are waiting on the official announcement that Iraq has ascended…Then the budget tables are to be done by the end of the year…and auctions will be ending by the end of the year. We were told many years ago that at the time they ended the currency auctions…there would be a rise in value of the Iraqi dinar. Now they are ending them before the end of the year…thats not far off. We are in the window.
