Response to Guru Deepwoodz new 1000 fil note post below by BUCKEYETREE, 11 MAY

Buckeyetree 

  [Response to Guru Deepwoodz  new 1000 fil note post below]

  We do not know the exact rationale for the CBI to display a 1000 fils note or imply its future use if there is also to be a one dinar note...

We have both a paper one dollar bill and a silver one dollar coin...The 1000 fils note could be released as tender but may become a collector's item while still legal tender.  Such is the case of the $2 dollar bill, not widely used but still legal tender.  

The CBI is holding back...the photos of the primary lower denoms.  The 1000 fils note photo may be a way to give confidence to the contractors that big changes are on the way with an exchange rate that would support the use of such a 1000 fils note. 

Deepwoodz 

 [Response to Guru Frank26's new 1000 note post below] 

 Why would you need a 1000 fil note? 

 Wouldn’t that be 1 dinar? 

That’s what it is in Kuwait and other countries that use dinar. No way you print two notes to represent the same value. 

Can someone help this make sense? 

  Kuwait’s are 1, 5, 10, 20, 50, and 100 fils. 1000 to a dinar. No reason  Iraq would be any different. Doesn’t really matter, I don’t care if they print three versions of the 1 dinar note. As long as they print at least one, I’m golden.

Frank26 

 On the CBI website back in January of this year...the CBI started the monetary reform campaign to the Iraqi citizens...It was on January 1, 2024 that the Central Bank of Iraq displayed this green looking currency...You'll notice three zeros.  What this is a 1000 but it is not what you think it is.  What is the color of the 1000 note that's out there right now? 

 Yellow/gold...What's this 1000 note that's green?  ...It is a fil...They are not going to release a 1000 lower note...They're not only going to release coins made out of precious metals but they're also going to release fils in paper.

🔥 Iraqi Dinar 🔥 Rate Fixed and Float 🔥 News Guru Intel Update Value IQD ...

JP Morgan Forecasts An Increase In The Oil Capacity Of Iraq And Other Countries In 2025, 11 MAY

 JP Morgan Forecasts An Increase In The Oil Capacity Of Iraq And Other Countries In 2025

2024-05-09 Shafaq News/ JP Morgan believes that there are three main countries in the oil alliance that deserve to upgrade their supplies for the year 2025.

Natasha Caneva, an analyst at JP Morgan, said in a recent report that the United Arab Emirates, Kazakhstan and Iraq intend to increase their total capacity by more than 300,000 barrels per day starting next year, but the planned expansions may represent risks to the cohesion of the alliance and oil prices in general. .

Caneva said: “The main issue for OPEC lies in 2025. Even if the alliance keeps supply restrictions as they are this year, it “does not address the imbalances in 2025.”

The price of Brent crude is expected to remain in the range of $75-90 per barrel in most scenarios, with average prices reaching $82 per barrel in 2025, according to Goldman Sachs.   LINK

" The U.S. Dollar is no longer the collateral to be held as reserve in the oil trade" BY MIKECRISTO, 11 MAY

MIKECRISTO

 ALERT ALERT ALERT

The U.S. Dollar is no longer the collateral to be held as reserve in the oil trade. When the JPY was at negative real rates, the BoJ could print yen and buy dollars when the Fed funds rate was 1.2% And investors could make the spread on behalf of Japanese tax payers, because Japan had real negative rates. The Fed funds rate is now 5.5% And the JPY is out from negative real rates, Which means Japan can’t fund the their Dollar bond market on the backs of the Japanese tax payers. Because the dollar is no longer the collateral in the oil trade, the liability that trades the debt. The BoJ prints yen to buy dollars to service their Dollar collateral (interest payment) to the U.S. Treasury. Because the Dollar is no longer the collateral in the oil trade, the BoJ needs to sell their dollar bonds back to the U.S. Treasury and buy back the yen the U.S. Treasury holds. Then the BoJ can retire those yen in the carry trade unwind. Because the U.S. Dollar is no longer the collateral that trades the debt via oil, The world is dumping dollars. All those dollars the U.S. Treasury exported was used to fund the U.S. stock market. When the USD carry trade gets unwound, So does the unwinding of the stock market. Gold is now the liability that settles the oil trade to service the debt via RMB internationalization. Japan is one of many central banks that must sell their dollar collateral back to the U.S. Treasury. This is why Janet Yellen is freaking out!

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A debate over the word populist in the UK with Nancy Pelosi as a guest ...BY PIMPY

Budget Delay: The Cry For Help For Paralyzed Services And Disrupted Dreams, 11 MAY

 Budget Delay: The Cry For Help For Paralyzed Services And Disrupted Dreams

May 9, 2024  Baghdad/Al-Masala Al-Hadath: In light of the delay in approving the federal state budget for 2024, Iraq faces major challenges in the field of public services and infrastructure.

The size of the proposed budget is about 228 trillion dinars, and includes more than 1,300 development and service projects.

According to Iraqi law, the budget must be approved three months before the end of the fiscal year. It is expected that the budget items will be voted on in the Council of Ministers soon, and then they will be sent to Parliament for study and a final vote.

In June 2023, the Iraqi Parliament voted on the federal budget law for the years 2023, 2024, and 2025, which is a historic step for the country. However, the budget faces delays due to disagreements regarding the value of projects and the level of investment spending, and also due to disagreements in the allocations of ministries and governorate budgets that are not linked to the region.

The Finance Committee in the Iraqi Parliament holds the government responsible for the delay in sending the budget to the Council for study and final vote, as the committee needs to know the details of the financial disbursement and the laws that have been added to the budget.

The continuing delays in approving the budget raise fears of irrational spending and corruption in upcoming projects, as some reports indicate that there are parties aiming to benefit from the huge funds through the ministries under their control or through front projects.

Reliable sources indicate that some Iraqi parties are enthusiastic about approving the budget for the current year 2024. This enthusiasm is due to obtaining funding, as some parties control important government ministries, and approving the budget means ensuring the continued flow of funds to these ministries, allowing them to implement projects and programs that serve their interests and bases. Electoral .

Major budget projects, such as infrastructure projects, are used as a tool to distribute benefits to contractors and companies linked to some parties, which contributes to enhancing their influence and influence.

Iraq faces serious challenges in the field of development and improving infrastructure, and delaying the approval of the budget reinforces these challenges and hinders the country’s progress towards sustainable development and the well-being of citizens.

The Iraqi government and parliament must work quickly and adopt appropriate decisions to complete the budget and implement projects. Reuters: Delaying the Iraqi budget hinders the implementation of projects and opens the door to corruption.  https://almasalah.com/archives/90467

"INTERESTING SITUATION ABOUT DEALERS THAT SELL THE IQD ARE BUYING THE DINAR " BY ARIEL, 11 MAY

ARIEL

Interesting Timing We Have Here: Look who's late to the party. They found out what the Iraqi Dinar is going to be worth and now want to buy them back. I wonder why this program will end on May 31st? Because if you read this article it reports that the Iraqi Dinar became a registered security with the 1st one printed today. https://app.achievable.me/study/finra-series-63/learn/registration-securities-registration-by-filing Goldilocks even reported on this article basically saying the Iraqi Dinar can be bought/sold as a registered security at the end of May. "A federal-covered security can be legally sold in a state once the proper documents and filing fee are submitted. Sales may occur on the day SEC registration is effective or when the notice filing was filed, whichever occurred last." Now does this mean we can expect a rate change by the end of the month? Not sure. But I definitely wouldn't be surprised given that the parallel market is almost at the official price set by the CBI. Which makes this buy back program pertinent and convenient. Because this also means that dealers or vendors that sell the IQD may run low on supply soon. And they may miss their opportunity to invest in the currency which is why they are offering to purchase them back if stocks are already running low. I'll let you know when I find more on this situation.