Sandy Ingram
If the Iraqi dinar revalued next week are you ready? ...Understanding this one fact, you will do just fine. The wealthy never never ever spend their bases or the foundation of their wealth. In your case this would be the profits from your Iraqi dinars...Wealthy people invest their initial profits. The first person they hire is a financial advisor. The second...is a tax professional...to make sure Uncle Sam doesn't get large sums of their money. If you do anything else you are in the fast lane to going broke.
Sandy Ingram
Article: "Advisor to the Association of Banks:The third strategy of the Central Bank is a new methodology for financial and banking reform" The Central Bank is prepared to achieve all goals in the second half of 2024 and the years of 2025 and 2026. ...these are from the original white papers that we talked about a couple years back. This article is the first indication that the white papers are the guiding light to the CBI's progress toward financial stability and banking reforms that aligns with International banking standards.
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The four factors that have or can affect the Iraqi dinar currency...The first...is the '24 budget...presents a significant issue for Iraq. The World Bank's assessment that Iraq needs an oil price of $90/barrel to meet budget requirements is a stark contrast to the current oil price of around $80...This ongoing issue boils down to how the World Bank reviews financial data and how Iraq view the same data. The second factor...until 2014 Iraq almost always created jobs for college graduates...In the eyes of Iraq, a government career is part of the benefits of being an oil rich county...One reason the budget is so large is that Iraq is budgeting for over 700,000 new government jobs.
The third factor...there are two exchange rates in Iraq...The official rate is round 1310 to $1.00. The market rate...fluctuates higher around, 1450 to $1.00 and cause issues, even protests. The market rate is the rate at which people live day-to-day... Because Iran and Syria need and want US dollars the US Federal Reserve has encouraged Iraq to rely more on the Iraqi dinar than the US dollar. This effort keeps Iraq out of trouble with the US Federal Reserve and the Department of Treasury...The issue of the two exchange rates is expected to be resolved over time. As of January 1, 2024 all transactions are mandated to be conducted in Iraqi dinars and the gap between the official exchange rate and the market value is anticipated to decrease, offering a sense of stability
...This is the most concerning issue that is brewing. All oil revenue paid to OPEC is in US dollars...Iraq's oil revenue is received by the US Federal Reserve first and then allocated to Iraq...The fact there are backroom talks over the position of OPEC going forward leaves [us] concerned for Iraq's Financial safety especially if the country wants to receive oil revenues in the dinar currency. However this would be one of the best steps to strengthen Iraq's currency...OPECs power is being threatened from within and this could lead to an uncomfortable situation for Iraq.
https://dinarevaluation.blogspot.com/2024/06/rv-update-by-sandy-ingram-1-july.html
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