Militia Man What we’re seeing and witnessing is something we’ve never seen before and not at this level…Something’s a foot and I think it’s a powerful time frame for us to see something different with Iraq.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sadr…has been talking to us and telling us we were all going to go out and protest because we haven’t received all the things that have been promised to us but this morning Sadr came on television and said the million man march has been cancelled, no longer useful he says. FRANK: Why are we not going to do it? Because they’re going to give us what they promised us? …IMO he’s calling off the march because Sudani asked him not to do the march.
MarkZ [via PDK] Article: “Fed and Powell unleash chaos across markets with a “Not a crisis at all” rate cut of 50 basis points” I like this article from Iraq…They are saying they have a lot of foreign currency and ways to defend their exchange rate. Why is this important? They are telling us Iraq is ready.
Samson Article: ”Al-Sudani leaves for New York early next week to participate in the UN General Assembly meetings”
Sandy Ingram If the IQD were revalued to $0.25 to 1 Iraq dinar, based on 1 million IQD you would profit $250,000. Your tax liability just on the $250,000 would place you at a 35% tax rate… Your tax would be $83,188 [Single/No Dependents]…You would only receive $166,812…Let’s say the IQD readjusts to $0.80 to 1…That would be a profit of $800,000 minus the fees to exchange…You would be taxed at 37%…This would be $284,901 owed in taxes. You would only receive $515,000. This does not include your state taxes…This is not a game…No one said it was fair. [I] do not want to hear about what a new president will do because if this happens within the next year a new president cannot help you. Congress has to vote on new tax laws. [Note: Consult your tax professionals at the appropriate time to create a tax strategy specific to your unique circumstances.]
Pimpy I want the same thing you do. Trust me, I would love nothing better to wake up in the morning and find out that the zeros are still on the dinar but they’ve magically changed the exchange rate to $3.22. That would be awesome.
MarkZ [via PDK] I would rate my warm and fuzzy feeling at about a 9.9 right now. It’s very warm and very fuzzy…it was a fantastic news week from Iraq. They are being told budget tables are approved and HCL is coming… Redemption center/banking folks on a shortened “on call” for this weekend in case they are needed. These are people that work in wealth management for large banks…. Comment: I am still hearing RV in September. MarkZ: I am still hearing that as well. I hope it’s accurate.
Clare Article: ”Al-Sudani leaves for New York early next week to participate in the UN General Assembly meetings”
Wolverine [via Judy Byington] Redemption Center staff have been trained. The QFS is fully integrated… Things are defiantly happening behind the scenes. We are going to be celebrating this week.
Militia Man Article Quote: “Alaq…points out the decline in the price of oil has nothing to do with the rise in the exchange rate because Iraq has reserves for foreign currencies which enables it to defend the exchange rate.” That’s what central banks do my friends. They defend the exchange rate. That does not matter whether it’s at 1310, which they’ve done, or if it’s going to be at whatever the Real Effective Exchange Rate is going to be in the future. They’ve worked this out. This isn’t something brand new. They know what they’re doing. The drop the 3-zeros project is still…going to be applied.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: They’re going to the streets with Sadr on the 25th. We will hit the streets in millions. We do this weekly until we are paid, starting on the 25th. Sadr has organized this and we will back him for our constitutional rights. FRANK: Sadr is a good leader. He will not do anything violent. Make sure you don’t protest because you will retard the whole monetary process for you. FIREFLY: We know there’s got to be a new rate coming and we going to help speed this up… [NOTE: Stay tuned for FIREFLY protest update later today.]
Mnt Goat …Most already tell us Iraq is filthy rich and they are…Right now the Kuwaiti dinar is one of the highest valued currencies in the world…If you proportionately look at Iraq and compare its ability to generate wealth it can far out produce Kuwait. Why then is the KWD at $3+ and the IQD at about $.006?
MarkZ [via PDK] What have we gotten this week? We have movement in the HCL…salaries are suddenly being agreed on…which imo – they could not agree on without knowing the new rates…we have them telling us the money laundering issue with Iran are taken care of…and the comment about 10 days ago from Sudani that they plan on lifting the value of the dinar during his term…which is in the next couple of months…So buckle up and try not to lose faith
