"RV UPDATE" BY MILITIAMAN, 3 JUNE

 Militia Man 

 That vote [scheduled Monday 3:00pm Baghdad time vote on the 2024 budget tables] is prior to markets opening in the United States in New York.  Will they vote?  Will they do it?  We're going to find out.

 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

💥WOW IRAQI DINAR GOTTA WATCH THIS💥 BY MELANIA

Iraqi Sunni politician criticizes UN mission, backs its planned exit, 3 JUNE

Iraqi Sunni politician criticizes UN mission, backs its planned exit

Shafaq News/ A prominent Iraqi Sunni politician, Atheel al-Nujaifi, on Sunday criticized the United Nations Assistance Mission for Iraq (UNAMI), calling its role marginal and often favoring the ruling party.

Al-Nujaifi, a leader in the Muttahidoun Party, told Shafaq News Agency he does not believe UNAMI's withdrawal by late 2025, as requested by the Iraqi government, would negatively impact the country.

"UNAMI's effectiveness has been limited," he said. "While it achieved some success in resolving local disputes in the early years after the 2003 invasion, its role has become marginal and often aligned with the strongest party in power."

"The success, in its early days, was only a catalyst for the Iraqi parties' willingness. It only happened because the Iraqi parties were seeking a solution," he added. 

Al-Nujaifi emphasized the need for Iraqi-led reforms. "Any external interference will only worsen the situation," he said.

The UN Security Council last week approved the Iraqi government's request to end UNAMI's mission by December 2025. Prime Minister Mohammed Shia al-Sudani had requested the withdrawal in May, proposing that UNAMI focus on economic reform, climate change, services, and sustainable development during its remaining time.

"RV UPDATE" BY PIMPY, 3 JUNE

  Pimpy 

 Article:  "The document..The House of Representatives votes next Monday on the budget schedules"  Finally after all this time.  There was a huge delay.

Trump did not buy Iraqi dinars.  You realize Trump has been tied to Iraqi dinar way before he was the president?

  ...You have to be careful about where you're getting your source from...

There are no articles out there that confirm this at all...There's no, and I mean none, proof out there that Donald Trump owns Iraqi dinar...

Article: "Expert: The Iraqi economy is witnessing a remarkable growth, with the decline in the dollar exchange rate."  This is good.  We need this to happen.  Iraq needs it to happen. 

 More importantly the policies that are being implemented by Iraq are favorable amongst the IMF, World Bank and all those people who are involved with making sure Iraq stay on track, stops laundering money and financing terrorist.   The more Iraq continues to stay on track and prove to the world they are going to behave themselves for now on the doors open for Iraq to rejoin the international community...

 Article: "Economist:  The budget is not affected but dollar exchange rates.  And explain the reason"  The person is saying the budget is never affected by the dollar exchange rate because the budget is based on Iraqi dinars.

Article: Central Bank of Iraq quote "There are no current plans to print new currency." 

 What that tells me is people don't have to worry about a lop or redenomination because in order for you to have a redenomination or a lop you have to create new currencies.  It also tells me they're not creating the lower denominations which means they're going to stick with the currency they currently have.  Some people see this as the glass half full.  Some people look at it as the glass is half empty.

 I agree it's going to happen.  I don't have doubt about that.  I'm just keeping an eye on whether or not they want to delete the zeros.  If they go to a free floating market hopefully there won't be...deleting the zeros and we'll see the exchange rate go up pretty quick before they have time to respond...

Iraq was already a member of the World Trade Organization.  They are going through the ascension process for a second time.  That's because all the rules, regulations, understandings and business practices...changed once the fall of Saddam Hussein.  Now we have to make sure all their practices, rules and regulations regarding trade line up once again with the World Trade Organization.  Iraq has been a member of the World Trade Organization since 2004.  This is their second time throughout the ascension process...

There's this misconception that the World Bank, IMF and the BIS get to tell countries what to do.  They don't...They facilitate.  They make recommendations but they don't control a country's bank..----.

Another budget is getting ready to come and go and there is no talk of the rate change.  Isn't that what they told you?  It would be in the new budget because there was no way for them to do large projects, there was no way for them to move forward without an exchange rate change...Why so secret now?  Is this one of those things they're trying to keep from the people?  

They didn't keep it from the people last time [they increased the value] and there's no mention of it this time...Keep your fingers crossed, it hasn't passed yet so maybe they'll change it between now and the time they pass it...You guys know what I think.

 Floating the currency means the value is determined by the market, so if people for whatever reason want to start investing in the Iraqi dinar and the start buying up the Iraqi dinar that means the demand for it is there, think supply and demand. 

 Since they have a liquidity issue, there's not going to have a lot of Iraqi dinar out there and if that's the case then they don't have the supply to feed the demand...But we'll be more than happy to sell our Iraqi dinar back to them if they get the exchange rate up around a quarter or more. I know I would.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-pimpy-24-may.html

Iraqi Dinar - Iraqi Investors Gear Up for Major Budget Approval

OPEC+ ministers gather in Riyadh to discuss oil policy, 3 JUNE

OPEC+ ministers gather in Riyadh to discuss oil policy

Shafaq News/ OPEC+ ministers kicked off their meeting in Riyadh on Sunday to discuss oil policy, with sources indicating a strong likelihood of extending production cuts through the end of 2025.

Insiders revealed that the first day of OPEC+ talks focuses on production strategy. These sources anticipate OPEC+ will maintain current curbs on output for the remainder of 2024 and into next year.

Invitations were recently sent out for several OPEC+ ministers to convene in the Saudi capital, the sources added.

Currently, OPEC+ members collectively slash production by 5.86 million barrels per day (bpd), representing roughly 5.7% of global demand.

Discussions are expected to touch on countries undertaking voluntary supply cuts of 2.2 million bpd, a key component of the alliance's strategy to manage supply, maintain market stability, and support crude prices. These voluntary cuts are made by Iraq, Algeria, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia, and the United Arab Emirates.

"RV UPDATE" BY DEEPWOODZ, 3 JUNE

  Deepwoodz 

  Question:  "Don't they have a deadline for these budget things by June 9th?"  I think June 9th was slated as the end of their legislative session post extension. Time will tell as to the importance of it.

On the contracts...The way I see it, the two most important factors are:

 1) the guarantee's, and

 2) the fact that these countries and contractors have faith in Iraq to pay for the work they are doing .

 Let’s say I want to do an electrical contract for Iraq.  I want 1 million dollars for it. I don’t care what the exchange rate is as long as the payment I receive is worth 1 million DOLLARS.  They are using dinar to pay...since January 1..

.A sovereign nation must use sovereign currency to pay their debts or they are in violation of the multi currency practices(MCP) that the IMF abhors. 

Using the current rate, I would be owed 1,310,000,000 dinar. Actually, the banking system will do the conversions automatically. I won’t even see any dinar. I will receive dollars in my American account. Or euros in my European account. Or pesos in my Mexican account ...using whatever exchange rate belongs to the country involved.

 Like I said,doesn’t matter to me as long as the rate translates into my 1 million dollars.  Now, the importance of these guarantees and the fact that corporations are pouring in to do work after all these years. They now know Iraq is serious about paying their debts...[and] have the means to make good on their payments.

https://dinarevaluation.blogspot.com/2024/05/about-iraq-paying-its-debts-why-it-is.html