Frank26 They are on high alert starting this Monday…. Could be Tuesday…Wednesday…I don’t know…
Sandy Ingram No Article VIII status yet. Iraq does not yet have Article VIII status with the International Monetary Fund which would allow free convertibility of the IQD. Instead it still operates under Article XIV, meaning capital controls and restrictions are legal and expected.
Militia Man There’s been videos out that we’ve talked about that showed them destroying perfectly good currency post 2018. What was their game? To reduce the note count. The electronic platform is coming and sopping that extra currency up.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: They’re saying right now on TV the deal they were working on [with Kurdistan] is imminent and it will settle all disputes on oil and salaries. If that is true we have a new rate because that’s the only reason why there was a dispute. FRANK: The only thing that can settle all of these disputes in your country is the removal of Iran’s politicians which has been accomplished. The only way to settle it now is by making money.
Pimpy Article: “Central Bank: Iraq’s hard currency reserves are enough to cover 13 months of imports” Remember the standard is you got to have at least 4 to 6 months worth of reserves. Iraq is doing really good with 13 months.
Sandy Ingram My ex-husband retired from the Federal Reserve bank. He and his peers have always talked down about an IQD revalue or currency adjustment…Iraq is fixing these flaws…for global inclusion …Countries and International banks didn’t trust doing business with Iraq. Now Iraq’s central bank is working to fix these problems. They’re updating their systems…If Iraq continues on this path it has the potential to fully integrate into the global banking system…Now we know shy bankers said the IQD would never revalue. It looks like Iraq is plugging the holes and there will be sufficient economic gains for a higher currency value.
Militia Man Inflation is well below 3% [in Iraq]. That’s really good. It’s an indicator for a revaluation. Doesn’t mean it’s going to revalue...I’m telling you it is a component of a revaluation because it’s significant…Inflation is low. The stage is set.
Frank26 [Article of the budget] 12-2c the judge is holding on to it because he’s protecting the new exchange rate. Even the gazette, two of them, are holding 12-2c. Why? It’s the new exchange rate…This judge holds the future of Iraq’s monetary reform in his hands…
MarkZ [via PDK] I did finally get in touch with one of my redemption center/wealth management folks ….He was told they are not working this weekend but be in early on Monday…. They were told to enjoy the weekend because they would be working some very long hours over the next 2 weeks. I hope that means us.
Bruce [via WiserNow] yes, been a long ride. It’s not been an easy ride… I was told a long time ago…things can change at any moment. And I think that’s true…certainly I’ve seen changes happen, but we know that…It is ready to start.
