Frank26 It seems to me the pattern of these bank stories that I’ve been receiving are changing more in the direction that, ‘Yeah, we know. We don’t know when. We don’t know what to tell you. We don’t know how much…but yeah we know what’s going on.’
Clare Article: “Iraq ranks fourth as the best emerging market for investment in 2024”
Militia Man Article “Al-Sudani receives Washington the Chairman of JP Morgan” Those that say JP Morgan don’t know anything about it should read up.
Suzie I know with all the forthcoming intel/info we’ve had…, the promise made by Sudani to the people…we all are speculating the next move shortly from Iraq as the blessing we’ve all (including the Iraqis) long awaited, I hope and pray we’re not setting ourselves up for another disappointment from more of Iraq’s capabilities for another set back like we’ve been used to seeing….praying for all this to go well this time around with no more delays.
Pimpy Question: “So you’re telling me we should sell our dinar because it’s about to lose us a lot of money?” I’m saying we don’t know what’s going to happen. There’s a possibility we can wake up tomorrow and it’s 1 to 1 and they haven’t deleted the zeros a lot of people are millionaires. There’s a possibility we wake up tomorrow and they delete the zeros and we have to exchange it for the new currency and then they change it 1 to 1 and you’re not a millionaire.
Frank26 [Iraq boots-on-the-ground report] FIREFLY:
Some lady is on the television news saying once the delegation returns from the Untied States of American the budget amendment law will be sent to parliament. She’s saying one of the issues is about salaries and this will end all issues on salaries for the first time ever once and for all… FRANK: She’s correct. When Sudani comes back he will deal with the budget and you will have your new exchange rate because that’s the only way that the salaries are going to be paid. They’re tell you they’re going to be paid for the first time ever. They have never been paid because of a lack of good exchange rate…
Clare Article: “Al-Sudani stresses the necessity of dialogue with the US Treasury, the Federal Bank, and the International Monetary Fund” Quote: “Al-Sudani stressed that it is not possible to work in any development sector without reform steps for the banking sector, stressing the need to continue dialogue with the US Treasury, the US Federal Reserve, the International Monetary Fund, and other international financial institutions.”
MarkZ [via PDK] …Sudani just landed a few hours ago back in Iraq after a very interesting tour in the US. He took questions during a Q&A and was asked about the revaluation of the dinar. He said specifically that yes that was under the auspices of the CBI but we are very much working on that direction. That is paraphrasing and not exact because of the translation. But that is phenomenal news imo.
Militia Man [Post 1 of 2……] [Q&A portion of Al-Sudani interview] Question: “Is the government thinking of revaluing the dinar and readjusting the value of the dinar due to the current circumstances in the market or do you see it to stay the same?” Al-Sudani’s answer: “This policy is dictated by the central bank and the government abide by what the bank decides. I believe we are in the best status we could be in and we have actually had an assessment which has given much trust, higher trust at a higher level from different global parties…This is going to raise the level or value of the Iraqi dinar. There is policy that is consistent policy that the central bank is using…”
Militia Man [Post 2 of 2] MILITIA MAN: Deletion of the zeros project, is that what they’re talking about? If you’re going to raise the value of the currency you’re going to have to do something to it and that’s the exchange rate. You don’t just LOP three zeros off a currency and say, ‘Snip! Go use this’. It doesn’t work that way. They have to raise the value…We know their reserves are $110 to $112 billion, they have gold, they have all the new electronic systems, taxes and tariffs…tourism, agriculture, liquid gas, all that stuff added into this is going to benefit them. Basically what is he saying? They’re going to raise the level of the value of the Iraqi dinar. That’s really powerful…
Frank26 [Al-Sudani Q and A in Washington DC 1 hour 28 minute mark] Community Member: The question was asked…Is the government thinking of revaluing the dinar and reinstating the value of the dinar due to the current circumstances in the markets or do you see that it say the same? Sudani replies by saying ‘This policy is dedicated by the central bank and the governments abide by what the CBI decides. Right now I believe we are in the best status that we could be in…We started the reforms…this is going to raise the level of the value of the Iraqi dinar.’ He told the whole world…
Bruce [via WiserNow] …the rates are doing very well…trending upward…the new rate on the dinar…is going up in value – and should be out as an international rate… They already have an idea where they’re gonna land as far as rates on front screens at the redemption centers …gonna be very, very strong… I would say we should finally have an internationally exposed dinar rate Sunday evening…it will probably show up in our banks on Monday…
