Jeff Their budget period would start October 1st…that’s why the news has increased significantly as we’re approaching October.
Samson Article: “First smartphone factory opens in Erbil”
Frank26 Article: “The government forms a higher committee to adapt Iraq banks to International financial requirements” What does that mean? It means the Iraq dinar is going to float internationally in international markets. But it’s at a program rate? No it’s not. But it has sanctions on the country? No it doesn’t. Wells Fargo says it’s on the OFAC list,
that it’s on the ‘bad currency’ list? No it’s not…That going international requires a new exchange rate. Yes it does.
RayRen98 UH OH!! BANK SCREENS WENT BLANK TODAY ACCORDING TO SOME REPORTS…WHAT COULD CAUSE THAT TO HAPPEN NOW, TODAY, AT THIS PHASE OF THE PROJECT?” I’M BEING TOLD WHEN THE RATES RETURN TO THE SCREENS…IT’S COWABUNGA TIME (DEFINITION OF COWABUNGA TO EXPRESS THE LIGHT OR SATISFACTION). BANKS ARE EXPECTING TO BE ” FULLY STAFFED” ON FRIDAY…..HMMMMMMMM WONDER WHAT’S UP?
Pimpy They don’t plan on removing any zeros at the moment. Although my feeling is they will remove the 3 zeros and then change the exchange rate. What I’m hoping for is that they leave the zeros on and then change the exchange rate. Anything is possible, but unlikely. But so far we’ve got the first part we wanted, they are not removing the zeros.
Militia Man I’m not sure how many articles but it’s been five in the last few days, maybe even six that talk about deletion of the zeros. Article quote: “Prices involves eliminating a certain number of zeros from the nominal value of the currency…” That’s the exchange rate…Don’t make it any different…They’re going to take 3 zeros off the nominal value of the currency …That’s been beat to death but it’s cool that they’re still talking about it.
Walkingstick They [Iraq/CBI] are no longer under the umbrella for the US Treasury nor are they under any sanctions. That’s nice!
Jeff September is the month where you have seen and heard more from the Central Bank ever throughout this entire year… They have been more vocal and have completed more steps in the month of September than any other month…Critical things are happening. They’re preparing to go international.
Samson Article: “MP: Iraq is heading towards ‘major’ economic changes and a global urban revolution”
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Today the television here in Baghdad again is also talking about deleting the zero project just like the Kurds televisions yesterday…They’re saying it is back in the spotlight. They’re talking about the banking road map by Alaq…
Mnt Goat …we have been told many times that the Project to Delete the Zeros is not just a common project to redenominate but for Iraq it is also a steppingstone as part of the process to the reinstatement. This is the reason why I am so captivated on what just happened these last few days…We witnessed another onslaught of articles about the Project to Delete the Zeros once again…the news media reports what is going on in Iraq so someone, something must have reignited the spark for the Project to Delete the Zeros…Yes, it was the CBI and when the CBI talks, I listen…the CBI sets monetary policy.
MarkZ [via PDK] Question: Can you talk about the rate changes bankers were seeing…? MarkZ: Most of what my bankers saw… they think is a little low. Could be a place holder rate or a test rate or in-country rate…but they are once again starting to see rates that are close to what we expect. [Reference MarkZ post 9-24-2024]
Reference MarkZ post 9-24-2024 is below
MarkZ [via PDK] The chatter coming out of the banking side has been pretty severe today – in a good way. They say rates are being seen…but I haven’t confirmed them …But I am hearing this from 3-4 different sources that work at different banking institutions…and they all agree on the rate of $3.57 on the screens…It’s certainly interesting this is being seen by so many …and the same rate.
Bruce [via WiserNow] Some people believe, Oh, it’s all going to go it’s going to start on the first of October. That’s not what we’re getting. That’s not what my sources are saying. They’re saying we’re going to get this before the end of the month, or by the end of the month…
