Sandy Ingram Parallel or black market forex still exists in Iraq…where the US dollar is traded slightly higher rate than the official one. The US and Iraq are working to close this gap by putting anti-smuggling controls in place and digitizing transactions.
Frank26 There’s no reason for them to have 17 trillion reserves for their currency and have a value of 1310. That statement which is so illogical is what allows me to close my eyes and sleep at night. I smile because what I can see is not an optical illusion. It is a reality that’s happening right before our eyes.
Militia Man Getting rid of the parallel market sets them up for having the ability to accept Article VIII compliance... They’re not going to have a multi currency practice…If that’s the case, getting those pricing down to where that is so insignificant [difference between official and parallel rates] it’ll eventually be crushed. There’s a lot of people out there that have agendas from other countries that don’t want that to go [away] because it’s got corruption components to it (illicit trade). We all know that.
Sandy Ingram You cannot exchange foreign currency without your passport [at an international airport]. The amount determines reporting requirements. The limit is $10,000 per transaction per day. Therefore to exchange $100,000 you would need to exchange currency for approximately 10 days. The same hold true when activating transaction over $10,000 at your local bank. Many times small foreign currency exchange services will report the transaction [to the IRS] even if it’s under $10,000…
Frank26 Do I think this ‘scrimmage’, because it’s not a war, …is going to delay or hurt our monetary reform investment in the Iraqi dinar? No. Is it going to speed things up? I don’ know about speeding it up. I don’t know no date, no rate. I can tell you this, this is fantastic for it…You need this foundation to be established. Security and stability is what’s going to hold up the whole CBI building, the whole monetary reform. Yesterday, security and stability was born in the Middle East…
Militia Man Just because Iraq looks ready, sounds ready, is ready, does the IMF, World Bank, US Treasury, Bank of International Settlements feel they’re ready? …It’s about Iraq but it’s not all about Iraq…It isn’t just Iraq pushing the button. It’s going to have to be something to the effect of that inter-connectivity I’ve been talking about. They need to be allowed to be able to do that…Bottom line is what we see with all the things collectively to this date shows Iraq is ready…A lot of pressure on everybody to make sure they get it right.
Clare Article: “Iran criticizes Iraq: We are developing a plan to deal with anyone who chooses neutrality.” Quote: “Iranian Deputy Foreign Minister Majid Takht-Ravanchi held Iraq responsible for Israel’s violation of its airspace on Saturday evening, while stressing that Tehran will develop a plan to deal with anyone who chooses to ‘remain neutral.’ “
Sandy Ingram Iraq is witnessing a remarkable surge in stability and security...positioning Iraq as a regional hub for trade and investment.
Frank26 What we have now ladies and gentlemen is security and stability that was born yesterday…IMO Maliki was arrested and he is the head of the snake and the reason for security and stability that has not been in Iraq. We told you they were surrounding his house and it was at that time that he IMO was arrested. I don’t know if they’re going to tell you this today, tomorrow, whenever but when they tell you then you can say, ‘Yeah, we knew that. Next.’
MarkZ [via PDK] Comment: If the dinar is a scam, boy they sure are putting in a lot of work to keep up appearances. Lol MarkZ: And if it is…they somehow convinced Trump and Warren Buffet and the US Treasury to buy millions of it…along with JP Morgan Chase bank and other countries-who have loaded up on it. If it’s a scam…they have gone to a lot of effort…but it isn’t a scam. We don’t know the timing…but it is not a scam.
Bruce [via WiserNow] …the indicator is that things regarding the RV are moving forward for us…the most recent information for us is saying that we will get notified, quite possibly Monday and begin exchanges on Tuesday… I believe that could very well be the case…we know that redemption center personnel are going in Monday…exchanging Lord willing on Tuesday… that’s what it’s pointing to, because this is coming up to where this needs to go.
Mnt Goat I try to bring you the progress of the monetary reforms, mostly following the plan to get back to FOREX…This is a huge effort for Iraq as it is right in the middle of a very volatile area of the world right now…Unfortunately, Iraq is a centuries old, major trading partner with Iran. So, I hope now you can see the uphill challenge facing Iraq when the U.S. wants to sanction Iran. It is hard to do. This RV plan we watch is the Dr Shabibi’s plan from 2011. I am told the plan is still in effect and moving ahead…
