Frank26 They started [installing new ATMs] with the four major banks…These are the major banks that are receiving it [Lower denoms?] first. The overflow will be covered by the ATM machines because it is going to be an insanity…They’ve got seven different ways to distribute…
MarkZ [via PDK] Question: Are We “R. V ing“ this weekend Markz?? MarkZ: There is a lot of crazy anticipation again…stay calm…but it’s been a weird quiet news day…almost like the whole world is waiting.
Pimpy When you hear somebody tell you that, ‘Hey in one country you cannot move forward and rebuild with huge projects with an exchange rate of 1,320 of your currencies for $1 just say, ‘Oh yeah? Look at Vietnam who has 26,000 of their currencies for every $1 and they continue to move forward.’
Militia Man [via PDK] Iraq is still moving forward with their monetary reform and the project to delete the zeros. Alaq has stated this and Sudani refers to it. In the 2024 budget they mention numbers that mirrors what Al Sudani says. They are doing a $4.9 billion dollar pipeline to go through Jordan. If you do the math –the rate comes out real close to what Al Sudani said…which is about $1.32. This effectively deletes the zeros IMO… It is not a lop…
Clare Article: “For the first time in history…a direct air transport line was launched between Erbil and London”
MarkZ [via PDK] In Iraq I have numerous reports from contacts on the ground that the CBI has released a video in the last couple of days showing Iraqis how to put their old currency into the ATM so they can deposit money. Which to me is a great sign. This will make any value change much easier to do it electronically.
Mailman17 Some gurus state that Iraq has to have more than oil to export to be on par with Kuwait. Every export Kuwait has is from oil..oil, gas, alcohol etc..all made from oil. Iraq has all that and then some. Oil, gas, sulphur, dates, gold and a few more. Do not compare Kuwaiti exports with Iraq..Iraq wins hands down and has more of it..food for thought.
Militia Man Article: “The Iraqi government is currently weighing the question of changing the currency so the official cost of the US dollar will be 1.32 Iraqi dinars instead of 1320. Implementing such a decision is likely significantly increase Al-Sudani’s popularity.” That was March 11, 2024.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: My bank guy said…Sudani…sent Alaq out in February…to announce to everybody that we were going to have a change in our exchange rate. Then Sudani comes out and talks to us about it as well…in March…considering a change in our currency to 1.32 from 1320. Now that the budget is about to be revealed he strongly suggests to me that we will be seeing the new exchange rate at 1.32 instead of 1320. FRANK: They keep the exchange rate at 1320 to give you more purchasing power…They are about to give this power to you.
Bruce [via WiserNow] …we thought the Iraqi Budget for Iraq had been put in the Gazette last Saturday. Well, come to find out it was NOT in the Gazette Saturday…So even though Iraq is trading up the value of the dinar – they really were not quite at the position of locking in that rate for us...but I think based on the information we’ve had in the last few days…I believe they’re ready for this thing to go.
Mnt Goat Do they have to RV to make the budget work? If you take what the prime minister told us about the dropping of the zeros…in an April 2023 article, we can see that taking the 1320 rate and dropping the 3 zeros makes it $1.32. If we take the 6.5 billions dinars allocated for the new pipeline construction it is actually about $4.9 billion dollars. If we divide 6.5 / 4.9 we get 1.32…is this a coincidence? Can you see now why I am so excited...WOW! WOW1 WOW! …Many believe it is not coincidental and so I agree…Do they need the change in rate to build the pipeline? What about the other projects too like the 7 new refineries? …if it does they will have to get their act in gear real soon, as they also told us they plan to begin this new pipeline now NOT in 2025.
