Frank26 [Iraq boots-on-the-ground report] FIREFLY: Alaq CBI governor said improving relations with international banks and amending the CBI bank Law. Alaq also saying about the $1.32 from 1320, if that’s the case then Iraq will need lower notes for change if we go under 250 notes. FRANK: They’re hinting to you what they’re about to give you. They’re having the conversation out in the open so you can prepare yourself...all of this is seeing the state to add value to your currency.
Pimpy The Coordinating Framework is trying to remove Al-Sudani. The political scene is going to be very unstable. If Maliki does his job and cause protest that means the country is going to be unstable which means the economy is unstable. All these things are going in the wrong direction. We went from being high as hell with lots of hope to now it’s just looking terrible.
Militia Man Al Sudani has told the citizens the dinar is going to be stronger. $0.76 is not stronger however once they delete the zeros then they can apply their Real Effective Exchange Rate. Totally different ball game. Totally different circumstances. Pay attention. Let’s see how this turns out.
Harlequinc3 It helps me to think of it this way. 1.32 IQD to 1 USD means it takes 1 whole dinar and .32 of ANOTHER dinar just to get $1. It’s not QUITE at a dollar. That’s $.76. So if it was .50 IQD to 1 USD, that means it only takes HALF of one whole dinar to equal a dollar — so that’s a $2 rate. If it was .33 IQD to 1 USD, that means it only takes 1/3 of a whole dinar to equal a dollar — wow, that’s a $3 rate!
Bruce [via WiserNow] …I feel like we’re making the final turn on the track. We’re getting ready – We’re in the homestretch before we cross the finish line…
Pimpy Article Quote: “The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1,32 Iraqi dinars instead of 1320 dinars. Implementing such a decision is likely to significantly increase Al-Sudani’s popularity.” I know everybody somehow, someway got that the exchange rate was going to be $1.32. That’s not what this article says. It says the official cost of the US dollar will be 1.32 Iraqi dinars…What I’m hoping this means is $1 US will get you 132 Iraqi dinar. That would be pretty nice increase in the Iraqi exchange rate. That’s a 90% increase.
Frank26 Article: “Among them concerns the dinar… the outcomes of Parliament’s finance meeting with the Central Bank” ALL THEY TALK ABOUT IS THE 1.32 & THE INTRODUCTION OF THE LOWER NOTES!!! FINALLY… THE SOUND HEARD AROUND THE WORLD! This is actually happening. This is a reality. The monetary reform to add value to the currency and then to float internationally is a reality…because it’s in print.
Petra Early Monday morning was the article demonstrating the fact that Sudani was considering changing the rate of the dinar from 1310 to 1.32 which for us in the United States is $0.79… Then the very next day we get an article talking about the new small category notes. They’re talking rate, they’re talking notes. And then you got Tannini the Commerce Director there talking about a surprise could happen within hours in regards to their monetary reform…
Samson “Parliamentary Finance: We look forward to coordinating with the Central Bank to increase the value of the dinar and control the market”
MarkZ [via PDK] We still do not know the timing but I am going to reiterate that the weekend before last they formed a committee to help inform businesses and citizens how to deal with the changing rate and changing prices that is going to occur. This is huge.
Frank26 There was an announcement made by the Prime Minister Sudani…He told the Iraqi citizens, I’m going to add value to your currency. He used a solemn oath that swears upon Allah their God. You don’t go around breaking that promise. It was exciting to realize the Prime Minister told the people, I assure you, I give you a solemn holy oath were going to add value to the currency…Sudani told the citizens we’re going to raise it to $1.32…He explained if we lift the 3-zeros from the exchange rate we’ll be able to give you $1.32 in country. That’s good purchasing power.
Clare Article: “After hosting the Governor… Parliamentary Finance: We look forward to raising the value of the dinar” Quote: “…Thursday, the Parliamentary Finance Committee expressed its aspiration to coordinate with the Central Bank to increase the value of the dinar and control the market.”
Mnt Goat There are many who want to force the reinstatement which is like me telling you that on March 19th (first day of Spring) suddenly overnight everything will chadenge and wamoo we will have spring. But we all know it doesn’t work this way and so we must make this logical analogy / comparison to our investment the RV. Just like mother nature has a plan for spring the CBI too has a plan and it takes time to execute it.
