Frank26 The introduction of all these foreign currencies [to transact in for import/export] is the introduction of the international basket where [the dinar] will be paired and the new exchange rate will exist and grow. I’m excited because they’re stopping the CBI auctions and replacing them with value for your currency to deal with other currencies that have their own value…
Clare Article: “Did non-oil revenues contribute to Iraq’s budget?” Quote: “Advisor to the Prime Minister, Mazhar Mohammed Saleh, confirmed today, Saturday, that non-oil revenues have witnessed a significant change in their contribution to budget resources, while he indicated that the government program seeks to raise them to 20%.“
Militia Man Article: “The path to develop unending oil” Quote: “The Development Road Project is one of the most important strategic projects that will enhance Iraq’s position as a commercial link to the East and the West, describing it as the oil that never ends.” Iraq’s got a huge amount of oil. Massive amount of non-oil revenues, tourism, agriculture, add it all in and it’s going to be the oil that never ends…
MarkZ [via PDK] We did see rates pop up briefly again this weekend. Things are getting exciting. In Iraq we had $3.47 popping up on the forex sites and some currency sites over the weekend…Showing the IQD at $3.47. I wish I would have been sitting with a bank that was open and currency in hand when it popped. We were getting similar numbers from contractors that believe will be the rate for their contracts. It was exciting to see those rates popping up.
Nader I feel it’s very very, we are very very very very close. Very close. Like very close guys. I feel like once they stop the auctions everybody is going to be happy about it. I think it’s going to be stopping on the 28th…70% to 80% [chance].
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr. Sammy said with this auction stopping the value would have to be added to stop the chance of a collapse of the currency. FRANK: That’s brilliant simple words but so well said. Specific manicured words that defines it exactly…This is checkmate. There is no other move.
MarkZ [via PDK] I feel good about this week. My Iraqi contacts are telling me that this is the ideal time to do it now that their government is going on break.
Jeff The second half of December was a very critical period to Iraq. Why? During the second half of December is when Iraq pauses and suspends their credit and lending practices which work off the value of the country’s currency. If Iraq is going change the value of their currency, they would need to pause and suspend credit and lending practices. That’s why it’s important.
Clare Article: “The dollar market is on “one leg”.. A new mechanism and the exchange rate is threatened!” Quote: “The Central Bank of Iraq is preparing to stop dealing with the electronic platform for dollar transfers abroad, at a time when experts have warned against raising the exchange rate to a higher level in light of the news circulating about this…News has been raised about a move towards a new adjustment to the exchange rate, which has raised economists’ concerns about the potential impact of this move on the economic process in general.”
Militia Man Iraq has been working to delete the zeros on many occasions. When they finally do, it will bring value and the dinar maybe stronger than the dollar like the indicators suggest, as does the project itself.
Frank26 The banks are no longer saying it’s a scam. The banks are now looking at us and their eyes are popping wide open and they’re saying can we have your name and phone number please and then they pass that information up and the next thing you know those wealth management people are calling and saying, hey listen, you know I want to talk to you, I want to set an appointment, you have any question etc etc. You could have 5 cents in your account and they’re calling you because they know who you are.
yada …the contractors received their exchanges, Iraq has removed all the corruption, ISIS, and now they have digital banking in the banks taking the control of the money out of the hands of the CBI. The amendment for the rate changes was done last weekend and the Iraqi people know the rate is changing AND the banks in Iraq are operating with the basket of currencies for international business as we speak.
MarkZ [via PDK] I do have updates from different contractors and contractor groups. My personal friend over there says he will not give a rate as it would compromise the contracts. But I have heard from a couple others that the most common rate they are being told is $3.92 as they are redoing contracts. I do not know how accurate that is but thought it was worth sharing. I did hear it from a number of sources so it may be just circletel…but it does fit closely to what is expected. $3.92 would be awesome, but consider it a rumor for now.
