MarkZ [via PDK] Comment: I think .76 cents is a sucker rate. MarkZ: I also believe .76 cents would be a sucker rate. Comment: Maybe .76 cents prepares the forex market for what is to come. So $3.50 to $4.25 won’t surprise them? MarkZ: I agree and it also prepares the people for a different rate. This big a change needs to be prepared for.
Frank26 Question: “Do you believe one more move to 1,000 or RI?” It looks like 1310 might be what they were seeking. Maybe a dollar is not enough.
Pimpy You can still see Iraq is taking the steps necessary to deal with corruption, update all their systems so they can keep better track of things and continue down the path to joining the international community…Iraq has taken all the steps necessary…It’s looking very good for Iraq as long as they stay on this path…
MarkZ [via PDK] Question: Are they going to knock it out this week? They need to knock it out this week…. A lot of people are expecting it this week in the banking world…we will see what happens.…
Clare Article: “Advisor to the Prime Minister: The stability of the exchange rate gives relative stability to gold prices” Quote: “The economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed the relative stability of gold prices in Iraq due to the value of the dinar… What determines gold prices today are the international gold exchanges, noting that the stability of the official Iraqi dinar exchange rate to the dollar gives relative stability to gold prices.”
Nader Article quote: “The Iraqi government and the Central Bank are dissatisfied with the nature of the US treasury’s dealings with Iraqi banks…There is an effort to lift the sanctions…” They need to take off the sanctions of Iraq IQD.
Sandy Ingram IMF’s report on Iraq’s economy. This is a critical report dealing with Iraq’s…financial future…Iraq could easily be on the path to a higher exchange rate depending on how the country responds to the IMF recommendations...Iraq’s non-oil economy is expected to continue to its growth in 2024 after expanding by 6% in 2023. The IMF also reported Iraq’s economy is projected to rebound in 2024…Iraq needs more sustainable non-oil growth according to…the IMF mission.
MarkZ [post 1 of 2…….] [via PDK] Article: “Iraq’s ruling coalition may call for early elections” The Iranian lined up divisions seem to be afraid of Sudani. But he has about a 78 percent approval rating from the people and has gotten a lot done. But this statement is what they fear the most right now: ”The Iraqi government is currently weighing the question to change the currency so that the official cost of the US dollar will be 1.32 Iraqi dinars instead of 1320.” Implementing such a decision is likely to significantly increase Al Sudani’s popularity.
MarkZ [post 2 of 2] [via PDK] What does this mean? It means they don’t need the zeros anymore. This means that each Iraqi dinar would be worth .76 cents. This was right from Iraq’s own paper. And they are “currently weighing this question” I still very much believe we will see a higher rate than that …but let’s say each dinar is worth .76 cents. They may be coming in at .76 and letting it float. We don’t know for sure…I still believe it will be higher… But to see it openly discussed in their news is huge.
Frank26 JP Morgan I think is going to be extremely important to us…Don’t just think that you’re going to be limited to Chase and JP Morgan. I used [them as example] only so that it could be of help to you. To guide you. At least you know where you can start. If you don’t like them go somewhere else.
Militia Man They’re not going to…build a country at 1310. The math doesn’t work. I don’t care how many times people try to figure that out. Think about it for a second…1310 dinars to buy a pencil but if you can buy 100 pencils for one dinar because the dinar is worth $3.00, $4.00 or more. How many pencils can you buy? Think about that in bricks, steel, sewer systems, infrastructure, lighting, military operations, airplanes, guns and weapons, grocery stores at 1310 as opposed to 2, 3, 4 bucks. They specifically bring up and invoke ‘previous eras’ not me. I just report that…
MarkZ [via PDK] Comment: Ramadan now…could be a while. MarkZ: If Kuwait is any kind of example…they don’t mind revaluing in Ramadan…I still think we could RV before April. But, nobody knows the exact timing.
Pimpy What is the difference between a mixed economy and a market economy? In a mixed economy the government plays a more active role in regulating and controlling certain aspects of the economy while in a market economy, the government’s role is limited to maintaining a level playing field and protecting property rights…We know right now Iraq has a mixed economy…[with] a lot of state ran businesses…
Frank26 The conditions of the monetary reform are perfect. All the waiting that we’ve been having forever and ever is also very perfect because what we’re waiting for is just one thing and one thing only, the new exchange rate. That’s it. The evidence is, banks know now.
Clare Article: “With its rise locally… Iraq’s gold reserves were revealed” Quote: “The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the size of the Iraqi gold reserve at the Central Bank of Iraq…Monetary gold falls within the diversification of the monetary authority’s investment portfolio, and the numbers indicate that it exceeds 132 tons of monetary gold and within the safe range of reserves.”
