Pimpy I’m going to tell you the truth. Here’s the truth, Iraq has taken major strides and getting their crap together. Is the Iraqi dinar going to go up in value? Yes it will. Is it going to happen tomorrow? Is is happening over in Europe? Is it happening over in Brazil or China? No, no it’s not. There is no in-county/out-country rate. No one group of people has had dinar exchanged. Nobody’s got their blessing…
Frank26 In articles…they have changed their sentence or wording “In the coming days” and “coming in the coming days” to “in the coming period”.
Militia Man Oil is in the budget for 2023 was at $70 but oil has been over $80 for quite some time. They’re gaining a lot of money. Then they’ve increased non-oil revenues at the borders, a lot of money. Liquid natural gas etc, a lot of money…This is happening…They’ve talked about sovereign funds…If all the stuff is what they’re saying it is…these guys are going to be popping with money.
Kaperoni Article: “Establishment of the Commercial Arbitration Center in Iraq” Article quote: “the importance of commercial communication with various countries around the world and organizing relations in a way that achieves mutual benefit for all parties, especially as Iraq is on the verge of rejoining the World Trade Organization (WTO). He explained that this project comes as one of the achievements within the file of Iraq’s accession to the International Chamber of Commerce (ICC).” WTO requirement. Establishment of the Commercial Arbitration Center in Iraq
Frank26 The float is to get to the cap. If I’m Sabibi I got a quagmire here. I’m in a catch 22, damned if I do, damned if I don’t. If I allow the Iraqi dinar to float freely, it’s going to gain in value and everybody outside is going to make some money with my money but I don’t know if I want it to float for a long time. But then again I have a lot of favors, a lot of contracts, a lot of people out there, there’s a lot of reserves with a lot of our currency in there. I’ve got to be careful, they’re counting on it…I don’t know what he’s going to do…
Samson Article: “Establishment of the Commercial Arbitration Center in Iraq“
Walkingstick Question: “Why haven’t we had a new exchange rate?” It’s always the same answer, it’s the corruption from Iran that steals from the auctions from the CBI…government through the political people that they have.
Militia Man That’s what we are waiting for as we speak [seeing what’s in the budget]. We haven’t seen them expose that rate or that information to us just yet but they’re going to. They don’t have much choice because June 12th it [The budget] became law…The court already said… just because they have an appeal doesn’t mean they have any weight to them.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Saleh is on TV. He’s saying we have no cash supply issue and Iraq is positioned as the strength of the Middle East. FRANK: Because they are about to flood you with lower notes. There’s no liquidity issue…He’s trying to tell you we’re about to give you purchasing power…
Mnt Goat [Post 1 of 2…..] She [my CBI contact] said that her committee was directed to be ready in June and did plan in June to begin the project to delete the zeros but the Central Bank as not yet received the assurances needed in writing from the US Treasury that they would support us fully all the way through the process. To me this meant to conduct the project to delete the zeros, swap out the notes and then onward to the reinstatement of the dinar. I was assured I was correct in my thinking. I already knew this as this was all in the Dr Shabibi plan anyway. This was just a confirmation that they are still closely following this part of the plan anyway… the US is still holding back and not fully supporting the financial reforms and the events that were supposed to happen at the end of the second phase of the reform process.
Mnt Goat [Post 2 of 2] So as investors where do we stand with the RV? Based on this information from my Saturday call to Iraq, I will summarize it for you. We are still waiting for the US to give assurances. The project to delete the zeros was scheduled for June and we will still have a week remaining in June. This is all I know and can tell everyone at this point… But I will tell you that I was told last month that for us to see the RV, there was only two phases and that they were completing the 2nd phase in June. So go figure… What would you now think?
MarkZ [via PDK] Question: Do we know for sure if we will be taxed at our exchange or not? MarkZ: We do not know for sure. Its best to plan on being taxed and hope you are not. I do not think we are going to be taxed. Most of my sources say we will not…but I am prepared if they are wrong. [Note: Check with your tax professional at the appropriate time to determine the right taxes for your unique situation.]
