RayRen98 [via Babysmom] “EAST COAST BANK CONTACTS ARE “VERY EXCITED” AND ANTICIPATE INITIATING EXCHANGES EITHER LATE TONIGHT OR EARLY IN THE MORNING. TIME WILL TELL…
Frank26 IMO This is an RI not and RV like the other people tell you. The RV was a long time ago…This is an RI. It is to be reinstated. I believe it’s trying to reach $3.22 so he can be on par and then float in the basket and gain more value.
Pimpy Deleting the zeros off the currency will not change the price on the ISX [Iraqi Stock Exchange]. Changing the exchange rate will have an impact on the ISX.
Clare Article: “Central Bank: Inflation in Iraq decreased to 4%“
Sandy Ingram Iraq’s stock market – A joke to many, a profit for others. Article: “Nasdaq signs New Agreement with Iraq Stock Exchange”. This new Iraqi dinar stock market is now electronic and instead of taking three weeks for a transaction to complete it takes only five minutes.
Militia Man Everybody realized they have all these income streams. You realize it’s not just going to be oil. The non-oil revenues, tourism, agriculture, liquid natural gas, natural resources, all those are going to be part of the future and so that’s really powerful.
Paulette Community Comment: “…The rate doesn’t matter but “freedom of movement of capital” is important. That is Article 8 compliance.” They cannot be Article 8 compliant if the country is functioning under a MCP. A MCP [Multiple Currency Practices] includes a parallel rate of greater than 2% of the official rate by IMF definition. Saleh said last year that the parallel rate is “REQUIRED” to be 2% or less of the official rate…This 2% or less needs to be maintained for a period of 90 days. The parallel rate is still around 14% difference.
Frank26 Each one has done their job – BOA, Chase, CitiBank, Wells Fargo. They’re all in the chain of command now. These banks are being informed of what’s going on. I also believe…the ones [banks] inside of Iraq are receiving new machines that have the software for the new lower notes…Chase, they don’t need that software because they will not be proving/inspecting it [lower notes] they’re just the middle person who sends it to the others. The others at JP [Morgan] have the new technology…machines…software. They are the ones training and practicing IMO…
Pimpy If we went from where it is now at .00077 all the way up to $3.22, you’re looking at a 4,180% increase in value. The largest amount a currency ever revalued occurred January 1, 1948 when the Chinese government decided to revalue its currency the yuan as part of the efforts to stabilize the economy and recover from the devastation of World War II…The government set the new exchange rate at $1 US for every 1.4 yuan which was a 46.9% appreciation – The largest increase in value we have ever seen in the world is 46.9% in value…So Iraq is going to smash the old record of 46.9% increase in value by 4133%? Not going to happen.
Breitling Question: “The difference between Kuwaiti revaluation and the Iraqi dinar – what’s the difference?” It’s a completely different model…Kuwaiti got invaded. Saddam Hussain stole the printing press, the Kuwaiti version of the Treasury. Stole everything…Iraqi dinar was completely different. It was planned. They knew the old Iraqi currency was going to collapse. We injected their economy with dollars and euros. That’s when they took the old dinars off the streets and introduced the new dinar you and I have. It’s a completely different model. There’s no way to compare.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Sudani is going to Washington in April about getting controversy of Iraqi allies and Washington.
MarkZ [via PDK] Question: So is this the month? MarkZ: I very much think this could be our month, I do not have a magical ball…but going back to the Simply Linn bank story and remind you that bank manager said he does not know the timing but know it’s soon. And we may know before they do. [Reference MarkZ’s Simpy Linn Bank story from 3-9-2024 below]
The MarkZ’s Simpy Linn Bank story is below.
MarkZ [Post 1 of 2……] Bank Story via Simply Linn: In a nutshell – a guy goes to a chase bank and they know nothing…. He goes to another and sits down with a personal banker who asked him what assets he had… and the guy says he has foreign currency…dinar and dong…they bring in a wealth manager… Whose eyes light up and the wealth manager shared some serious details about exchanging and the QFS…they suggested to him to exchange out of his area for anonymity and security and to avoid local tellers talking about his exchange.
MarkZ [Post 2 of 2] I thought this was brilliant and I plan on doing that as well. Not exchanging in my town. Anonymity is a good thing to have. He also mentioned our funds go into special accounts…When the man asked if it was the QFS – the lady smiled and nodded and said it was account that no one else can see it…even tellers will not be able to see it. Very safe. …they also said they do now know “when” but know it’s coming soon and they have been preparing for it and equipped to exchange it right in front of your eyes…and there will be armed guards while you do the exchange. This was a fantastic bank story.
