Bank Story Lady: (family friend) had an appointment yesterday. Whenever the banker found out how many dinar that we are holding in our group which is about half a billion he said that was too much, they weren't going to be able to handle that much...Then this morning he got a call from his bank Golden Valley and they said look we had a meeting about you and your group last night.
FRANK: They had a meeting about his issue with the dinar?
BANK STORY LADY: Yes, because it was so much. They invited him back...we're waiting for that update.
FRANK: The updates came...Turns out this bank has told this group of people...we can't handle that much volume at our banks, therefore we are sending you to an exchange center and they will give you 4.5% to put it in the bank. They said Morgan Stanley are the people we are going to introduce you to for a management company to help you when you come in towards the end of the year.
It's a very good video [Central Bank Iraqi's dinar propaganda/advertisement video that came out Friday - you can see it below Guru Frank26's 12-8-2023 post] . I like it a lot...It's an advertisement for Iraq to use only Iraqi dinars. That's very very very good thing. That's big big step. Big step we taken. It's not bad...I said it before and I'm repeating it, in January things it's going to change big, big, big, time. Big time. If I was you, I'll be ready.
They are start to prepare people to use only the dinar and they start advertisement...they call it education, I call it advertisement. Things are going good...somewhere 1 to 1.
[See the Iraqi dinar advertisement video under Guru Frank26's post below]
Question "Can you talk about the steps involved in cashing in dinars?" When exchange time comes we're going to have to go to three things - Redemption center, 1-800# or the army base. :)
[Nader is clearly joking about these three things]...People are telling them that. That's wrong. The only thing you can do to change your money, walk to your bank, if they accept it, or go through exchange offices. There's no redemption centers, no army bases, there is no 1-800#s, nothing that way.
[NOTE: Gurus disagree on the potential exchange procedures. Stay tuned to Dinar Guru as this important subject unfolds and become clear.]
They are start to prepare people to use only the dinar and they start advertisement...they call it education, I call it advertisement. Things are going good...somewhere 1 to 1. [See the Iraqi dinar advertisement video under Guru Frank26's post below]
Al-Barti: The political agreement included passing the oil and gas law
During the current session on Saturday, Vian Sabri, the head of the Kurdistan Democratic Party parliamentary bloc, expressed her support for the oil and gas law legislation.
Sabri mentioned in an interview that political parties are discussing the oil and gas law and moving towards legislating it within the Parliament.
She said, “The committees concerned are still working on resolving the law and sending it to the House of Representatives. It’s worth noting that the oil and gas law is one of the most important provisions of the state administration coalition agreement.”
According to her, the Sudanese government will pass the oil and gas law in the next phase based on a political agreement.
The Parliamentary Oil and Energy Committee has confirmed that the government and political parties are working to resolve the oil and gas law. They are overcoming obstacles and prioritizing the public interest to move towards legislating the law within Parliament.
Article: "CIA warns Baghdad of serious consequences if attacks against US personnel continue"Since October 17th the US presence in Syria and Iraq has been under constant threat.
[We] tried to ignore this news however, that is not possible Article: "Iraqi PM places security forces under investigation over US embassy attack" Iraq is doing what they can, but have not been able to stop the attacks against American Forces in Iraq. Article: "Iran-backed militia vows more attacks after US Embassy in Iraq comes under fire" When you attack the embassy of another country, this is far more serious.
The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers. The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar...[We're] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.
Article: "Inflation rate in Iraq declines in 2023 compared to 2022"
The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022. Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022. Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...
Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption.... The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution. He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023.. .
There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...
The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...
Article: " Good News for Investors: US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"
Vietnam was not included on the US Treasury Department currency manipulators list this time. The list comes out twice a year and includes countries that may have surpassed the value of their currency. When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...
On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...
Article: "Inflation rate in Iraq declines in 2023 compared to 2022"
The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022. Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022. Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...
Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution. He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023...
There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...
The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...
The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...
Article: "Good News for Investors: US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"
Vietnam was not included on the US Treasury Department currency manipulators list this time. The list comes out twice a year and includes countries that may have surpassed the value of their currency. When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...
On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...
I have received a notice today and then had it confirmed by several entities unrelated to the original message. The word I received was the Bondholders as well as CMKX and the Indian Tribes would be notified late tomorrowFri. 15 Dec. into Saturday 16 Dec,as to how their funds were going to be delivered. Tier4b and Bond Holders would receive our notices late .
Sun. 17 Dec. into early Mon. Tier 4b could begin scheduling appointments starting next Wed. 20 Dec.
to exchange. The 20th is an important date in country relative to the Iraqi budget. Everything in country is positive for aWed. 20 Dec. RV.
It could happen at any moment, banks and exchange centers are trained and ready, it is mostly political at this point with the number on nations involved. He has 5 states he is responsible for with about 40 centers. They are prepared. “We cannot have two US currencies at the same time, so how do they cover this situation?
They create a meltdown in banking and the Securities Markets. They suspend trading and access to your funds. Then they announce the return to asset backed currencies and direct you to take your currency to your bank to exchange for the new Treasury backed currency. We foreign currency holders will be exchanging at the same time, so not to panic.