DINAR REVALUATION

Sunday, June 2, 2024

Iraqi Dinar Here Some Massive Changes 🔥Iraqi Dinar RV

PM Al-Sudani inaugurates Digital Data Center, Traffic Signs and License Plates Manufacturing Plant, 2 JUNE

PM Al-Sudani inaugurates Digital Data Center, Traffic Signs and License Plates Manufacturing Plant

Shafaq News / Iraqi Prime Minister Mohammed Shia Al-Sudani inaugurated, on Saturday, the Digital Data Center at the Ministry of Interior and the Traffic Signs and License Plates Manufacturing Plant in central Baghdad.

The PM’s media office reported that the event was attended by the Ministers of Interior, Planning, Communications, Higher Education, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank, and several government and security officials.

In his speech during the inauguration, Prime Minister Al-Sudani commended the efforts of the Ministry of Interior staff and the implementing Iraqi company.

“He highlighted the importance of the Digital Data Center in data preservation and exchange, noting the ministry's significant progress in providing electronic services to citizens, starting with e-passport and e-visa programs, and now extending to data collection.”

Prime Minister Al-Sudani emphasized that the Ministry of Interior, while primarily a security entity, also plays a critical service role and directly interacts with citizens.

He underscored the importance of “data sharing between departments and institutions,” stating that “access to data and information will enhance the Ministry of Interior's capability in combating crime.”

The Digital Data Center aligns with the Prime Minister's directives to ensure data security, promote data sharing, and rely on automation and digital transformation in service delivery, as per the media office. “It is part of the e-passport, e-visa, and other electronic portales projects funded by the Police Martyrs Fund.”

“The center will serve the Ministry of Interior and all its departments, including systems for electronic passports, e-visas, national ID cards, vehicle registration, driving licenses, criminal records, and other directorates. It can also support other ministries and the private sector in data hosting or backup, benefiting the public interest.”

The center houses 200 digital data cabinets and is designed for future expansion over the next 20 years. Built to high specifications, it can operate independently of national electricity for up to 30 days, as reported by the Prime Minister’s media office.

Additionally, Al-Sudani inaugurated a traffic sign manufacturing plant that will meet high standards, allowing vehicle owners to drive abroad.

Al-Sudani emphasized the significance of this project in providing a permanent solution to the longstanding issue of traffic signs.

“The first production line was installed in March and is now operational. The investing company is committed to delivering additional production lines in the near future to produce square signs and motorcycle plates. A dedicated team from the Directorate of Traffic/Directorate of Road Engineering and Traffic Signs underwent training at the plant on how to operate the new equipment.”

According to the media office, “Each production line can produce approximately 2,000 plates per hour, amounting to 16,000 plates during a single work shift, with the potential for increased output by extending working hours based on the Directorate of Traffic's needs. The plant is capable of producing three types of plates in various sizes according to the directorate's requirements: short plates, long plates, and motorcycle plates.”

"RV UPDATE" BY MILITIAMAN, 2 JUNE

Militia Man

The House of Representatives will vote next Monday on the budge schedules...We've been waiting for it... Is it important? Is it not important?

Obviously it's a focus. Article Quote: "Mustafa ... announced the House of Representatives intends to vote on the financial budget tables for the year of 2024...It will be held at 3:00 in the afternoon on Monday."

I don't think anybody's going to be able to prove me wrong, you drop the three zeros, the exchange rate changes from 1 USD to 1.32 just like al-Sudani says. Do the math it comes out to .76, apply the real effective exchange rate and that's where the show starts big time... .76 is $0.76 - it's slightly less than the dollar.

That's value. It's not .0007 something. It's value. That's what they're talking about - Bringing value to the currency. That's what Al-Alaq is there for.

Article quote: "If we assume the Central Bank issues a new currency this will not affect the exchange rate of the Iraqi dinar."

This guy is not wrong...It won't in my view. The exchange rate will affect the new small denominations though...If they change the value of the exchange rate by dropping the three zeros, therefor the new denominations will be affected by it, which will be value. It's pretty simple.

If you raise the value of the currency it's going to have a ripple effect...Instead of being a pebble...or a brick in the pond this might be a boulder. There's going to be some waves. The World Bank, IMF, US Fed, US Treasury...Bank of International Settlements, everybody's going to need to know what you're going to do and when you're going to do it and pretty close.

They're not going to be broadcasting it like everybody thinks, 'What's the date and what's the rate?' That's not how it works. But we study it close enough to where...we can see it can't be far off...

If they're going to have liquidity and they don't have it now it's going to require new small category denominations to be in circulation. Just as al-Alaq's project to delete the zeros would require new denominations. Did they do that in 2018 and have them in storage? I believe they did...

They increased that gold supply by about 40 tons...Their currency reserves are around $110 billion. They have a massive amount of wealth. They have the ability to support their imports for about 16 months they say, which is about 5x what they need. That's important. They don't want to reduce those. They'd like to keep them on hand...Iraq has a good foundation for Alaq to do what he's supposed to do and it'll only get better if he does.

If they change the value of their currency they're going to have more surpluses...The oil price is about $70 in the 2023 budget. That hasn't changed for '24 or '25 because that's a tripartite budget. They got a surplus. Oil is somewhere around $80. It's been as high as $91ish. The expectations of oil is to be somewhere in the neighborhood of $80/$90 and they even talk about $100/barrel...Iraq is going to be sitting pretty good...They have phosphates...sulfur...natural gas...Those non-oil revenue streams...taxes and tariffs are going to come online...Iraq has a good foundation for Alaq to do what he's supposed to do.

Iraq is moving forward. They've got huge reserves...increased their gold, they're going to have the private sector, their stock exchange is going to be one to reckon with. It's an emerging market and a lot of money is going to be start flowing...

If they go on the Forex system it's going to be international. It's going to be fast and furious.

Could they do something within the county prior to that?

Sure, why not, educate the citizens, do what they got to do...

Question: People want to know if they can drag this out until next year?

Militia Man: We don’t know the timing. But, I don’t think we are even close to go that long. There is way too much going on in the world and this is not only about Iraq. Remember all boats rise with the tide...I believe Iraq is ready to go with the rest of the world. Along with other countries like the Vietnamese dong.

Are they going to change the value of their currency...?

I'm pretty sure they are going to need to to pay for all these [reconstruction] objects...rebar, the cement - all that stuff is expensive at 1310. It's not so expensive if it's back at a 'previous era'....If they have the true value, their real effective exchange rate, it's going to be far cheaper...

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-militiaman-25-may.htm

Iraqi Dinar Amazing Facts After 15 Years 🔥Iraqi Dinar latest today updat...

Inauguration of first airline route between Najaf and Dammam, Saudi Arabia, 2 JUNE

Inauguration of first airline route between Najaf and Dammam, Saudi Arabia

Shafaq News/ The first official airline route between Najaf and Dammam, Saudi Arabia, was inaugurated on Saturday.

According to Shafaq News Agency correspondent, the Saudi Ambassador, Abdul Aziz Al-Shammari, was on the flight that arrived this morning from Dammam to Najaf International Airport.

The Governor of Najaf, who welcomed the Saudi Ambassador, emphasized the importance of expanding air services between Iraq and Saudi Arabia to enhance economic and tourism ties.

"RV UPDATE' BY JEFF, 2 JUNE

Jeff

I've seen quite a few different investors out there that are super excited that Iraq was going to be approving their budget within parliament Monday...That's a huge misunderstanding on your part if you're excited...The budgets are calculated off the value of the currency. When a budget is implemented or while the budget is implemented the rate cannot

change...If this budget got approved Monday, the next time they could change the currency...rate, they would have to wait until mid-year (September or October) or a new budget period of 2025 (March to April)...Once this budget gets approved, that's the currency value that's locked in it...It can't be magically changed...It doesn't work that way.

The rate change is here... Article: "Sudanese directs to hold an extraordinary session next Sunday to discuss the 2024 budget schedules" The reason council of Ministers which normally meet on Tuesday are meeting on Sunday is they can only meet after the rate changes...They are reducing the deficit. To reduce the deficit you have to reduce your expenses, cost and figures. The only way they can do that is revaluing the currency...This step is contingent upon the rate change.

Article: "Parliament expects the arrival of the 2024 budget schedules" Quote "...There are efforts to guarantee the right of many segments in the items and schedules of the 2024 budget but they cannot be judged without waiting for the numbers they contain."

The rate has to change before parliament can approve the amendments to this budget. This is why I showed you the final countdown a few days ago because I knew this was coming forward and here it is for you...

Mid last week I posted "The Final Countdown"

...Here's the reason why right here...The approval of Iraq's budget is waiting on the rate change. That's why it's been outstanding/ pending for 6 weeks. This week we're entering into will be its seventh week. In order for them to complete and approve, the budget is waiting for the rate to change ...You're seeing countless articles on this. This is a critical piece to the timing of the rate change.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-jeff-1-may.html

The next big step in this is we want to see when Iraq will be amending their budget...They can amend it before or after the rate changes...

This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991

Iraq technically does not need to amend the budget if they're not changing their rate.

The budget already covers their operating expenses. But they would need surplus funds to cover the reforms. The reforms are contingent upon the rate changing. They can't bring these reform package forward if the rate does not change. The only reason they're amending the budget is because the rate is changing...The step of amending the budget can happen either before or after the rate changes ... They will probably announce Thursday or Friday as to when they plan to amend the budget, which they'll probably do around this weekend...

https://dinarevaluation.blogspot.com/2024/03/rv-update-by-jeff-22-march.html