Samson Article “Adopting a new mechanism for citizens to obtain their oil share electronically”
Kaperoni One of the options in Iraq has been to create a new currency that will replace the existing dinar. This is in essence a LOP or near neutral event. Not what we want to see.
Pimpy Community Comment “An old 1000 dinar will be worth $3.21 x 1000 dinar = $3,210.” No it won’t. Not at all. They’ll just look at [your 1000 note] and know this is the old currency and you have to exchange it for the new currency and if you don’t want the new dinars that fine but they’re not going to give you a $3.21 rate time this full amount. They [will] know the re-denomination has already taken place…They’ll give you $3.21. That’s what you get.
Wolverine [via Judy Byington] …There are things I cannot say due to confidentiality and people being under NDA. I want to tell you the gates are opened!! I am praying that by the end of the month we will all be blessed… This is not hopium. This is real and from the boots on the ground.
Jeff When they said the rate is going to be 1 to 1, they’re not telling you the value is going to be a dollar…They will never tell you what the exchange rate is going to be. 1 to 1 means the purchase power before the rate changes is going to be the same after the rate changes. Before the rate changes a 25,000 dinar note will have the same purchase power as a 25 note after the rate changes…The exchange rate against the dollar is your multiplier. Let’s say after the rate changes the new exchange rate is $3.00 for easy math…After the rate changes since all the currency has a value of $3…25,000 note times $3.00 would be worth $75,000 and after the rate changes a 25 note is worth $75. It’s that simple.
Samson Article: ”MP rules out finalizing oil and gas law in 2024”
Militia Man Iraq’s got a massive amount of dollar reserves/foreign reserves. They’ve increased their gold supply…That suggests they’re in good shape. They’ve got some security and…stability. I think everybody’s starting to realize security and stability has been a big focus…It is coming to that stage where we’re going to see more resulting in a far bigger way.
Frank26 The HCL is the…mechanism the bad guys in Iraq are using to delay the monetary reform. They used the budget but they got caught on that. They changed the numbers.
MarkZ [via PDK] Question: Is acceptance in the WTO necessary for Iraq to RI/RV? MarkZ: No it is not necessary…but it is expected to occur simultaneously.
Bruce [via WiserNow] …It looks very possible that we …begin exchanges Saturday and go through the weekend and through next week…I think we are very close…I just look forward to us getting to the other side… let’s see how things progress for us.
