Highlights: Iraq Monetary Reform Update (Frank26 FIREFLY Report)
💰 Over 20 years ago, the Iraqi dinar rate was $3.22, based mainly on oil prices.
🌟 Now, Iraq has diversified income sources including $16 trillion in rare minerals, tourism, and agriculture, making the economy very promising.
📈 Given neighboring Middle Eastern countries’ rates, an exchange rate around $3.80 to just over $4.00 seems realistic.
🏦 Iraqi banks are currently training employees on combating counterfeiting and smuggling to secure monetary reform.
❌ Training does not involve the “3-zero notes” (lower denomination dinar notes), indicating those notes will likely be removed or replaced.
⏳ The lower denomination notes and new exchange rate will likely be introduced simultaneously as part of the reform process.
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Frank26
Right now they're training the banks of Iraq, their employees, on how to deal with counterfeiting and smuggling...for the security and stability of their monetary reform.
But they're to using the 3-zero notes to train them with?
...This pattern is one that you have to respect...There's no crime against that currency because that currency won't exist. So what are you using, the lower notes?
No, they don't want to show the lower notes just yet. They're going to do the lower notes and exchange rate at pretty much the same time..
[Iraq boots-on-the-ground report]
FIREFLY:The rate over 20 years ago was $3.22 and that was just off the price of oil. Now we have non-oil revenues and $16 trillion alone in rare minerals... tourism... agriculture... This is very promising.
FRANK: $3.22 was over 20 years ago...When you look at the exchange rate of the other Middle Eastern countries around you, it's not too far-fetched that you could be somewhere around $3.80 to just a pinch over $4.00.