Great Anticipation Oct 3rd - 4th?💣This is It?!🤔Iraq Dinar RV Updates | 9...

"RV UPDATE" BY MILITIAMAN, 28 SEPT

 Militia Man 

 Article quote:  "All state contracts inside Iraq shall be in Iraq dinars."  I don't know what else to say.

 Alaq the central bank governor he's posting some things on the CBI website that's pretty powerful.. .24 pages of instructions talking about international banking...He also put a piece out specifically talking about a new system of external transfers...This particular piece is phenomenal because he's working with the Central Bank of Iraq and the United States Federal Bank...They're talking about different currencies...UAE dirham, Turkish lira, European euro, Indian rupee...He's been knocking it out of the park.

  Article:  "Alaq pointed out the new system of external transfer and the sale of dollars provides protection from risk to all parties to operations and enjoys international acceptance."  There you go.  I think that's kind of almost a drop the mic situation...

Early Elections and Reform Plans: An Insight into Iraq’s Future, 28 SEPT

 Early Elections and Reform Plans: An Insight into Iraq’s Future, 27 SEPT

According to a recent press interaction with Iraqi Prime Minister Mohammed S. Al-Sudani, the prospects of early elections in Iraq hinge on the Council of Representatives’ decision to dissolve itself. The Prime Minister further assured that the government is ready for such elections. During the interaction, Al-Sudani discussed a myriad of issues ranging from political and economic reforms to social welfare initiatives.

He pointed out that the country has observed a shift in political forces emphasizing more on service delivery and economic development rather than sectarianism and identity politics. This change is evident in the over 300 registered parties contesting in the Provincial Council Elections, demonstrating a rise in political stability.

Social Protection and Economic Reforms

Al-Sudani shed light on the new Social Protection Law geared towards addressing multidimensional poverty. The law aims to assign $4 billion in 2023, with particular measures such as cash subsidies for students and children from low-income families, and an increase in ration card packages for those within the social protection network. The Prime Minister believes that these strategies, combined with a three-year budget plan for poverty, could drastically reduce poverty rates in Iraq within five years.

Furthermore, the Prime Minister affirmed the government’s pledge to support the private sector and battle corruption through systematic policies. These policies include reclaiming stolen public money, pursuing corruption suspects, and implementing tax, customs, and electronic payment reforms.

The Prime Minister also discussed the country’s currency and banking sector, highlighting the connection between the US dollar price and the crucial banking and financial sector reforms being carried out by the government. He indicated that exchange rate fluctuations represent a struggle between legitimate transactions and groups reliant on US dollar trading.

Regional Dialogue and Human Rights

In the regional context, Al-Sudani emphasized Iraq’s leading role in promoting regional dialogue and its active involvement in the Development Road Project. He expressed concern about the stability of Syria, suggesting that any instability in Syria could risk a resurgence of ISIS and pose a threat to regional security.

On human rights, the Prime Minister reassured that no individual is detained without a judicial order, and that stringent legal procedures are observed. He also stressed the provision of retrials for all criminals, including those sentenced to death, under Iraq’s amnesty laws.

Finally, the Prime Minister revealed that the Baghdad Conference is poised to expand due to requests from the United Kingdom, Germany, Spain, and Italy to attend and participate. He also mentioned the government’s commitment to maintaining a strong bilateral relationship with the United States for security cooperation.

Coffee with MarkZ 09/28/2023

Note From PDK: This podcast has about  5 minutes of RV related news….That is all I transcribed today…..The rest of the call is not specifically RV related. 

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member:  Good morning, everyone….. lots of excitement in the air

MZ:  There is a lot of expectation for announcements sometime today

MZ: Fairly quiet overnight. We have had some whales –in states without Wells Fargo banks –get contacted by out of state WF ‘s saying that they are prepared for them. They are going to be mad at me for using the WF name…but it’s happening..

MZ: So we are having a lot of scrambling at the banker level now who are chasing whales to make sure they get their business. 

MZ: IMO things are ramping up …everything feels good and smells good and I think “Soon” actually means “Soon” for a change .

Member:  When they announce the new rate in Iraq- will we get the same rate when we exchange?

MZ: I am told when we go to exchange and use one of the “qualifying banking centers” in other words has the staff with special training and the special verifying equipment….I am told our rate is “pre-determined” and we don’t have to pay fees and get better service…all of those things. 

MZ: My bankers still believe there is a bonus to be gained in the rate offered to us  because of the “Oil For Dinar” program….and they will be offering us a higher rate. 

MZ: Redemption folks are ready. They are on call and they are in and out of the office. They are waiting for the “GO”. 

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics. 

IRAQ News URGENT Info IQD Investors We Can Handle This Issue BY SANDY INGRAM

"RV UPDATE" BY ANGEL1, 28 SEPT

 Angel1  

 Thursday I'm guaranteeing you the auctions change.  That's the CBI announcement.  That's the 28th...that's their banking Friday.  That means they automatically go into offline...  I wouldn't go crazy looking for something on Thursday but let me tell you, official implementation date is Thursday per the CBI.  Whether we see it Friday, Saturday I cannot promise you that...I'll also tell you this, this is very damn close...

What does Sudani come out today and say?  He says, 'Hey everybody I am announcing to you we are going to have a special holiday.  We are going to have our very own Independence Day and that will be October 3rd'...Iraq has never ever had an Independence Day.  Citizens of Iraq, I'm hearing from boots on the ground, are beyond themselves. 

They're doing away with the auctions January 1, 2024.  But as of this Thursday...the implementation of how you do the auctions are completely changing...it's dinars from here on out only...

  There are only two things left to do on this laundry list of things for us to get to the bank.  What are they?  Change the exchange rate and release the lower denominations...at that point, shortly thereafter if not simultaneously.  I have the opinion it'll be on Forex internationally.  They'll have an internationally exchangeable currency.  That is when we go to the bank...I would not be surprised if something special happened very quickly.

Dollar’s Rising Value: A New Economic Dynamic in Iraq, 28 SEPT

 Dollar’s Rising Value: A New Economic Dynamic in Iraq, 28 SEPT

The US dollar has experienced a significant upswing in the Al-Kifah and Al-Harithiya stock exchanges, with the exchange rate reaching a peak of 156,200 Iraqi dinars for every 100 dollars. This is a stark contrast to the previous day’s rate, which was 154,600 dinars for every 100 dollars. The value surge was also mirrored in local markets across the capital, Baghdad, where exchange shops raised their selling prices. The current selling rate is 157,250 Iraqi dinars for every 100 dollars, while the purchasing price is 155,250 dinars.

Value Surge: Not Just in Baghdad

Beyond Baghdad, Erbil, the capital of the Kurdistan Region, also saw a rise in the value of the dollar. The selling price in Erbil shops was recorded at 155,300 dinars per dollar, while the purchase price was 155,200 dinars for every 100 dollars. This suggests that the shift in the dollar’s value is a nationwide trend within Iraq.

The sudden increase in the value of the dollar in relation to the Iraqi dinar, as reflected in stock exchange rates and local markets throughout the country, is a noteworthy economic event. This shift affects the cost of transactions and could potentially impact the overall economy. The rise in the dollar’s value observed in Baghdad and Erbil points to a widespread increase, which is significant considering the economic challenges that Iraq has faced in recent years.

Central Bank’s Plan to Strengthen Iraqi Dinar

It’s important to note that the Central Bank of Iraq has a new plan to bolster the value of the Iraqi dinar against the US dollar. The measures include reducing the US dollar to Iraqi dinar exchange rate for travel or internet purchases from 1,470 dinars to 1,465 and helping private banks strengthen their foreign currency reserves that are not the US dollar. The Central Bank specifically named the Chinese yuan, the euro, the Emirati dirham, and the Jordanian dinar. There’s also a provision for selling foreign currencies in government banks for the purpose of travel, for the Hajj pilgrimage, medical treatment, and study.

Devaluing a currency has significant downsides as it can lead to a liquidity crisis, as seen in Argentina. But for Iraqis who are paid in dollars, the devaluation potentially gives them more purchasing power. However, people paid in dinars may lose purchasing power since imports and exports are paid for in dollars. A devaluation also means imported goods become more expensive in the local currency. Given the economic hardships Iraq has experienced, these are critical factors to consider.

As the value of the dollar continues to rise against the Iraqi dinar, the impact on the economy and the lives of ordinary Iraqis will become more apparent. While there are potential benefits for those paid in dollars, the overall implications of this shift are complex and far-reaching. As Iraq navigates these economic changes, the Central Bank’s strategies to strengthen the dinar and mitigate the impacts of currency devaluation will be critical.

https://bnn.network/finance-nav/currencies/dollars-rising-value-a-new-economic-dynamic-in-iraq/