Militia Man I believe the Iraqi dinar is going to change value…and the citizens believe that too. I believe Sudani has literally spoken those words…the dinar, it’s going to be stronger than the dollar. He said those things on a couple of occasions.
MarkZ [via PDK] Question: Do you believe the new lower denominations have already been printed in Iraq? MarkZ: Yes I do…We have seen the contracts years ago and the paid receipts from the government of Iraq with DeLaRue to print them…Many contacts in Iraq have seen the cut sheets (samples of LD’s) in banks.
Fnu Lnu I do not buy this “Education Program” nor do I buy the “Adjusting of the Parallel Market”. The education is taking too long to be effective and it isn’t government’s job to adjust black markets. These are stall tactics while they placate the masses. But why?…
Clare Article: “Parliamentary Finance to Employees: Your Salaries Are Secured for This Year and Next Year Even if Oil Drops”
Wolverine [via Judy Byington] I was told this morning that the new rates presently put on the Bank Screen are not actual new bank rates. They are used for investments…
Mnt Goat Article: “AFTER THE DECLINE IN OIL, A GOVERNMENT ADVISOR: WE HAVE THE CAPABILITIES TO CONFRONT THE PROBLEMS OF THE GLOBAL ECONOMY” I consider this one of those WOW! articles. Quote: “the highest reserves in the country’s monetary and financial history” also “the growth indicators in the non-oil GDP have touched 6%” WOW!
Pimpy I just read an article not that long ago that said oil sales are now 89% of their budget which is good. Remember it was 96% of their budget…Iraq is going in the right direction but they still rely on oil sales way too much…If Iraq starts stumbling and the prices drop low for oil per barrel then they start operating in the deficit…If it keeps dropping and gets too low then they’re going to have no choice but to…devalue the Iraq dinar…No body said they’re doing it. I’m just saying we really got to pay attention to the price of oil per barrel because if it gets too low they don’t need to tell us what’s going to happen, you should already be aware that’s what they’re going to do…
MarkZ [via PDK] I …heard they [rates on bank screens] are changing and fluctuating. I am hoping this means they are priming the system again. My banking contacts say they are seeing many different rates…rates are rolling all over the place…Hopefully they are checking the system and priming the system….
Samson Article: “Private Banks Association: The number of electronic payment points in Iraq increased from 7 thousand to 30 thousand”
Militia Man Electronic payments…you can get this feeling it’s showtime because they’re really doing the development of the reality of financial inclusion. They’re spreading that financial culture around the country…It’s coming, the growth stage.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq is on TV and he’s singing like a bird with information. He’s talking to us an awful lot every day about what they’re going to do with this reform. He gives speech about how much money is in the digital system already. It’s growing. He said at the end of this year we will implement the initial plan to complete the reforms for the banking system… FRANK: The digital information is one of the main key parts of the monetary reform. It will allow your money to float freely not only inside of your country but outside…You are going to be internationally recognized. This is extremely exciting.
MarkZ [via PDK] “A parliamentary delegation to visit the Kurdistan region next week on the salaries of employees” This article came out before the weekend….so it’s this week…..This is one of the hiccups that is keeping HCL from passing. So they are in the Kurdish region supposedly working on this…what is supposedly one of the last hiccups with passing publically the HCL… Maybe?…..Finally? If we get the HCL we should get a new value on the dinar.
Mnt Goat “ECONOMIC RENAISSANCE AND UNPRECEDENTED PROGRESS.. IRAQ MAXIMIZES ITS NON-OIL REVENUES AND REDUCES ITS DEBTS”. They are telling us the national debt is only 9% of their reserves now at $108 billion and GDP growth is very good… words like “unprecedented” and “maximizes”…tells me our choo choo train is moving down the tracks at an accelerated pace now.
