Frank26 Question: “Is the rate in the budget?” Yes ma’am. There’s a line item…
Kaperoni All of these changes that they’re talking about pertain to monetary policy. They have nothing to do with the exchange rate. Whether or not the exchange rate goes up or not is directly related to the economic success thereafter.
Sandy Ingram A [Community member] wrote and then deleted the following comment in response to…the results of the emergency budget meeting, ‘The rate is still 1310 for the next budget year. At least now everyone can shut down…until next year.‘ Sandy Ingram: No that is not true. Things are happening in the Middle East, and they are happening
fast.
Clare Article: “An International group removes Iraq from the “notorious” financial list” Quote: “On Wednesday, the Middle East and North Africa Financial Action Task Force (MENAFATF) classified Iraq as a country highly committed to the recommendations for combating money laundering and terrorist financing.”
Pimpy Another budget is getting ready to come and go and there is no talk of the rate change. Isn’t that what they told you? It would be in the new budget because there was no way for them to do large projects, there was no way for them to move forward without an exchange rate change…Why so secret now? Is this one of those things they’re trying to keep from the people? They didn’t keep it from the people last time [they increased the value] and there’s no mention of it this time…Keep your fingers crossed, it hasn’t passed yet so maybe they’ll change it between now and the time they pass it…You guys know what I think.
Militia Man and MarkZ Militia Man: Sudani…said in the past that the dinar was going to be stronger than the dollar. And, we are expecting that…an article yesterday he said they were about to strengthen the dinar. MarkZ: To strengthen the dinar is to add more purchasing power and be stronger than the dollar. For it to be stronger than the dollar it has to be worth more than a dollar...Things are finally getting tangible enough that I can be excited. Militia Man: This is an amazing event that we are watching unfold.
Paulette Many feel that if Iraq changes the rate, they will have tons of money just as they that hold IQD hopefully will. The difference between “dinar holders” and the government of Iraq is that we hold IQD and they hold USD. Where I think Iraq sees a windfall is if they pass the budget after the CBI ‘reveals’ the RD/RV to the world and thereafter RI’s. For example, if the CBI changes the rate to 1.30…and then the COM and Parliament pass the change to the budget tables, a 130 billion USD value budget will be 100 billion IQD. If they then RI after to 2.60USD, that same 100 billion IQD will have the purchasing power of 260 billion USD…deficit solved…
Militia Man Are they going to change the value of their currency…? I’m pretty sure they are going to need to to pay for all these [reconstruction] objects…rebar, the cement – all that stuff is expensive at 1310. It’s not so expensive if it’s back at a ‘previous era’….If they have the true value, their real effective exchange rate, it’s going to be far cheaper…
Frank26 A second set of books is a normal business action. Many companies, many firms for financial projections, for balances, for audit purposes, for changes whatever it may be, run a second set of books. The second set of books is simple business practice. It’s not illegal unless you’re doing it illegally under the table…This second set of books is not hidden…they [Iraq] expose it [their second second set of books] to the right people, IMF, World Bank, US Treasury…
RayRen98 [via Babysmom] Updates Wed Nite: …FEDERAL RESERVE STAFF SPENT LAST NIGHT WAITING TO OBSERVE THE “TRANSACTION”. THEY’LL DUPLICATE THAT PROCESS TONIGHT” “3 LTRS ARE WAITING ON AN EMAIL COMMUNICATION AND A CALL TELLING THEM TO “START UP”!! THEY ARE ON HIGH ALERT…”
Bruce [via WiserNow] … the rates are moving in the direction that we actually expect them to be …Rates are populating and…they were…moving at 90 miles an hour…I don’t know if we are going to have fixed rates when we go in or whether we’re going to have variable rates because they’re still being traded up or down…But whichever it is they’re going to be… very good. And I heard… that the contract rate on the dinar is going to be very very high... the contract rate is based on what a barrel of oil in Iraq can be sold to a buyer like Turkey who’s buying oil by the barrel from Iraq, that created a…contract rate for us…So I think we’re going to be very pleasantly surprised by that…we’re looking forward to getting this very soon.
