Militia Man If you guys have the lop question, it’s totally uneducated as far as I’m concerned. 100%…Iraq said they were going to bring value to their currency. Doing a lop doesn’t bring value. It’s a reverse split. Stays the same. It’s total B.S., utter nonsense. It’s unstudied, uneducated and frankly, quackery as far as I’m concerned.
Samson Article: “PM Advisor: Al-Alaq upcoming visit to NY supports banking system stability”
Frank26 Question “Did Chase Bank place banks inside of Iraq?” Not that I know. Not Chase, no.
Pimpy If you’re planning on retiring sometime this year because of the Iraqi dinar exchange rate, well put a hold on your plans for just a little bit until we get past this next year IMO. With the election season coming up and we have no idea who’s going to be in charge of the country, we have no idea what kind of actions are going to be taken against Iraq…The fact that the United States Treasury has now taken up an entire floor in the Central Bank of Iraq is not a good thing at all…
Militia Man Article Quote: “Alaq confirmed… there will be meetings held with the Federal bank and US Treasury at the end of this August” What’s the date today? It’s not far off. The last meeting he had was unannounced…I think him coming back to the Untied States, he’s probably going to bring something he should have had done a long time ago.
MarkZ [via PDK] As far as RV related news – there is a lot of expectations in Iraq for this weekend. But no huge movement yet. We are waiting to get some news. Iraqi contacts are pretty hopeful they can force a dinar value change to reduce the use of US dollars . A lot of hopeful talk …and most are looking for a change on Sunday. That’s only a day away so guess we will soon find out.
Samson Article: “Is Iraq heading towards printing new paper currency?” Quote: “Baghdad The Parliamentary Finance Committee confirmed, on Thursday, that there is no intention to print new paper currency.”
Frank26 I don’t care about the WTO and HCL because it only waits for one thing, the new exchange rate. The only mechanism that everyone is waiting for is the new exchange rate. That is the simple fact. This fact is real because Sudani is constantly reinforcing that idea…by constantly coming out on TV and talking to you [Iraqi citizens] about you’re going to get purchasing power.
Militia Man Article: “Iraq is heading towards printing new paper currency” They’re not going to print new currency in the sense of triple zero notes…There’s no reason for it. They were destroying perfectly good triple zero notes. They did a video on it…destroying money, making little pellets. They had a whole show on it. Why would they be destroying good money? Granted, if they filmed that they were damaged with ink on them, all these different things, I understand that. That wasn’t the case. In 2018…they spent tens of millions of dollars on printing new currency… Bottom line is, why would they be printing triple zero notes at a time when inflation is low? That would create inflation. The whole idea is not to do that. Article quote: “There’s no intention to print new paper currency at the central bank…”
MarkZ [via PDK] COMMENT: …Iraqi Citizens are being shown the new lower denominations on the street level. They are being distributed in Iraq…If so, I assume this puts us in a short window until it’s on forex for us. MarkZ: If they are being distributed…yes. We do know they have printed them…we have seen the contracts with DeLaRue in 2018 when they were printed. We know they have sent “cut sheets” or samples to banks , large retailers etc…showing all the security features etc. So they have printed them, prepared everyone, educated the exchange houses. They have also formed a committee to educate people on price changes. It’s clear they are going to lower denominations. If they are finally releasing them at the street level… Well, that is huge news…
