Frank26 [Iraq boots-on-the-ground report] FIREFLY: Gazette number 4,805 was written and it is all about the amendment that they did in the budget…but it still has not been released to the public yet…
Militia Man Outside illicit trade have been warned about “SHOCKS”…The dollar auctions are going to cease and apparently within this year. They did say that is was not going to be specifically on any day. They suggested that timing was open, yet to be within this year. imo That could be anytime or any day they choose. Those that are not associated with a global correspondent bank or hooked up with system already have been warned all year long. It is on them now if they suffer losses. This shows there is no stopping Iraq’s Monetary Reforms…
Walkingstick The IQD is being introduced to its basket members. These foreign currencies that are coming in through the contracts, some of them, if not most of them, will be playing the part in the float of the Middle East basket. Why is it that this basket is the next chapter in our study? Because the CBI auctions are ending on December the 31st of this year and there will be no restrictions on the Iraqi dinar on an international level as it was before …This is article VIII compliance which allows them to stop the auctions…Once the float increases the international value of the Iraqi dinar it will start to pair to these currencies in this basket and IMO it will quickly rise in value due to the demand that we are seeing right now.
Kaperoni Article: “The Central Bank of Iraq decides to add the Saudi riyal and the Jordanian dinar”
Frank26 [Iraq boots-on-the-ground report] FIREFLY: The CBI shut down 49 more companies. They were those that were the ones who were doing money laundering and that should be the final 5% that they’ve been talking to us about everyday. All day we hear from the IMF praising Iraq and even Sudani talking about us being stable and strong. It’s all over here in Iraq. It looks like this all saying we are about to go international. FRANK: That is the key. That is the next step. Once we go international you won’t need me no more. You are about to go with a new exchange rate, God willing.
Militia Man I think they have the blessing of the United States Treasury. I think Iraq has the blessing of the World Bank. I think Iraq has go the blessing of the Bank of International Settlements. And I got have the feeling the World Trade Organization is just waiting and biting their knuckles because they know the amount of money that’s going to move through there is going to be unbelievable in trade…
Nader The thing I saw and made me very happy…When you see the Saudis coming with their money, now we can trade their monies, the UAE and all the Middle East countries, almost. Turkey, Saudis, Kuwait, Qatar. Now we can exchange our dinars with their dinars, durham, riyal, with anything like that. That’s very big guys cuz the dollar…yuan Chinese, the euro is already there. Now we have all continental of Europe…Middle East…United States and now it’s missing a little bit of Africa and we’re done. Other ones like Canada does whatever the United States do. Australia same thing. That made me very happy. That mean soon we’ll be in every bank in United States. It will be tradable. If it’s tradable it’s going to gain a lot of values and quick.
MarkZ [via PDK] I sure hope my Iraqi contacts are accurate…sometime between now and the first of the year for a REER (Real Effective Exchange Rate). I do have redemption personnel who have been trained on exchanging currencies – specifically the currencies we hold – and they are expected to work this weekend. This is odd going into Christmas. I hope this means something besides just finishing up end of year things.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: CBI is talking about expansion of money transfers to local new currencies…Mr. Sammy says it’s the Jordanian dinar and the Saudi riyal and the Turkey currency and the Chinese yuan. FRANK: None of these countries have ever dealt with Iraq the way they are now because of the program rate. To me it proves we have a new rate or they wouldn’t lift a finger to help Iraq.
Bruce [via Wisernow] They wanted us to have this before Christmas…So let’s hope that is the case...let’s see what happens…
Mnt Goat [post 1 of 2] Article: “CENTRAL BANK GOVERNOR: OPENING EXTERNAL CHANNELS WITH FOREIGN CURRENCIES ELIMINATES THE BLACK MARKET” Central Bank Governor Ali Al-Alaq confirmed on Thursday that opening channels in foreign and Arab currencies achieves stability in the exchange rate and gradually eliminates the black market. We were told of the issue of the parallel market and my CBI contact told me that this had to come in par with the “official” CBI rate in order to make the in-country revaluation of the dinar possible, before the project to delete the zeros could occur. They said that the new correspondent bank procedure should eliminate the parallel market…The RV is going to happen, but first things first…
Mnt Goat [post 2 of 2] This recent move with the correspondent banks should knock out the parallel market altogether first and put the dollar in line with the CBI “official” rate. This was needed first. Then the CBI plans to push out the new in-country CBI official rate we have been waiting for along with the project to delete the zeros. I just talked to my CBI contact…Wednesday and this is what I am told. We just have to sit tight and see what happens next. I wish I could tell you more positive news. Right now, this is a very sensitive time, things will be moving fast soon. I can’t think of better news at this time.
