"RV UPDATE" BY MILITIAMAN, 4 JUNE

  Militia Man 

  Article: "Parliamentary Finance resumes its meetings regarding the budget in preparation for voting on the schedules"  Quote: "Parliament decided, according to the agenda, to hold its twenty-seventh regular session next Monday..."   I am not sure how long voting will take on the paragraph. But, if they are going to vote to do a budget at 1310 that would have a deficit of 64 trillion that would not be good for the people and they want to see another term in office they'll need the 3 zeros to be removed from the exchange rate. If there isn't a removal by Al-alaq they'll be in a pickle be sure.

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

Iraqi Dinar | De-Dollarization of Iraq: The Game Changer For IQD Investo...

Parliamentary finances vote on 2024 budget schedules and add 2 trillion to provincial share, 4 JUNE

Parliamentary finances vote on 2024 budget schedules and add 2 trillion to provincial share

Baghdad – Mil

A member of the House of Representatives, Burhan Al-Mamari, announced today, Monday, the vote of the Parliamentary Finance Committee on the 2024 budget schedules, noting that it added an increase of 2 trillion dinars to the share of the provinces to become 3.5 trillion.

Al-Mamouri said in a post seen by “Mil”, “The Finance Committee voted on the 2024 budget schedules and added an increase of 2 trillion dinars to the share of the provinces to become 3.5 trillion.”

He added that “this increase came after most members of the House of Representatives objected to the schedules sent by the government and in light of providing financial support to the provinces.”

Al-Mamouri continued, “the Finance Committee played its role and made distinguished efforts and achieved the basic requirement, which includes increasing the financial allocations of the governorates, although we demanded a further increase.”

“We stand by the Finance Committee’s decision and call on members of the House of Representatives to support the Finance Committee represented by all blocs and components and to expedite a session to vote on the budget schedules,” he added.

He stressed that “our governorates need to launch the allocations installed in the budget schedules to move the wheel of lagging projects and promote the service and urban reality in the public good.”

https://miliq.news/political/31057–2024-2-.html

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"RV UPDATE" BY PIMPY, 4 JUNE

 Pimpy  

 Article:  "UN Security Council extends mission in Iraq for last time"  The United Nations Security Council voted to end the Iraq mission by the end of next year, 2025.  The UN will not be babysitting Iraq anymore. That goes a long ways towards them establishing their sovereignty.

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.  I f 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 $7.35 &Vietnam Dong $4.20 VND Zimbabwe Dollar $2.55 Rate | I...

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Sudanese financial adviser reveals when the government implements the budget schedules, 4 JUNE

Sudanese financial adviser reveals when the government implements the budget schedules

 Financial Advisor to Prime Minister Mazhar Mohammed Saleh revealed the date of the government’s implementation of the financial budget schedules for 2024 approved by the House of Representatives on Monday.

Mazhar Mohammed Saleh said to the {Euphrates News} agency, “Based on the constitutional path in force in issuing legislation, the start of the official implementation of the federal general budget schedules must be accompanied by its approval by the House of Representatives, based on the provisions of Article 77/II of the Federal Public Budget Law No. 13 of 2023 (the tripartite budget), 

if that approval in the House of Representatives takes the form of (the law) or the form of amendment to Law No. 13 of 2023 referred to above, these amendments to the origin of the law or the version of the tables as a new law must in all cases be given by the coincidence of the President of the Republic, and then published in the Official Gazette to complete the procedures The legal one is drawn.”

He pointed out that “after that, the implementation or implementation phase begins immediately, unless there are instructions for the implementation of federal budget schedules for the year 2024, which may be issued with joint instructions to the Ministries of Finance and Planning.”
Saleh continued, “However, the important aspect remains that the budget schedules for the year 2024 are ratified by the legislative authority and accepted by the legislators in the House of Representatives, and then the financial schedule for the year 2024 is issued and adopted under any form of legislation in force, whether issued by a new law or a legislative decision.”

Raghid

https://alforatnews.iq/news/المستشار-المالي-للسوداني-يكشف-موعد-تنفيذ-الحكومة-لجداول-الموازنة

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"RV UPDATE" BY MNT GOAT, 4 JUNE

 Mnt Goat 

   "The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed...the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next week."   Folks this is all positive news and exactly what we should expect to see at this point in time. Yes, it is now all about the Banking Reforms. This is what is going to get the dinar to officially pass the dollar. We already know the value is greater and so now we just need to go through the motions to get it recognized to its true value.

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Q & A

Question from Suki:

Hi Mtn Goat,
I was wondering this as well. If I remember correctly mid year, June, was also a feasible option. But you did mention January.  I am trying to stay grounded, but my Wings are flapping as fast as the news is in Iraq. If policies continue to move as fast as they are, Do you think we still have to wait another 6 months since January is the best time for them to make a fiscal change?
---- Thank you

Question from ashleypikes:

Thank you MG for a very exciting report today, yes the train is moving rapidly. As you mentioned we have moved into the second stage of financial an monetary reform. My question to you today is just how many more stages of reform are needed. It seems something is always added to the list in Iraq. You said not years to complete, however that is still a long time an since your contact has not given any timeframe which is proper conduct,, do we have to Wait till Biden is out or God forbid re-elected. Have you changed your tune in that scenario , thank you an blessings on you. We continue to wait ..

Answer Mnt Goat:

Guten tag Suki and ashleypikes. Seem both of these questions evolve around the timing of the RV. I will answer both now. As I have said a thousand times if not a million times in the last decade of my Newsletter – DO NOT DWELL ON THE TIMING. What good does this do for you? No one and not even the CBI knows the timing ,,,,get it? There is no such thing as delays it is all in your head. When the time is right Iraq will reinstate. There are other events that must proceed FOREX and I have reviewed these also many times. Don’t you get it by now? 

Instead pay attention to the events as the reinstatement is a “byproduct” of the Financial Reforms more specifically Banking Reforms now underway. Did you reference the information I sent you on the Pillars of Financial Reform? Did you go read the White Paper? If you did then why are you asking me questions now on the timing of the RV? I do not in my heart believe that Biden will allow this event to occur.His administration may surprise us. we have had many surprises along this journey. It’s what you don’t know or what you think you know that will haunt you later.

Will we have to wait until January? It is a possibility, but I believe we may see it way before then. Oh… but you say the election is not until November and so Biden will still be around. Read between the lines folks,,, will you! I am saying he might not be around by then…get it? Why in hell do I spend all this time presenting the prophets and what God has to say about all this? Some say the U.S. has already signed off on it and we heard this a hundred times over too. Its all nonsense by nonsensical idiots trying to guess the RV timing. That is all it is. Get it? I am not going go there. If this is what you want then there are many idiot intel gurus out there that you can follow.

https://dinarevaluation.blogspot.com/2024/05/q-with-mnt-goat-29-may.html

I wanted to share an interesting conversation I had...with my CBI contact this past Wednesday...I was told that the committee to work on the Project to Delete the Zeros has sent the CBI prepared articles to the news media for the sake of educating the citizens on the upcoming process. However, they are dated and so they are for the near future and not for current news.  Yes, they are getting ready and moving ahead.

...we read three articles about the CBI official rate equaling the Parallel or Black market rate in the coming days. WOW!...Saleh, the prime minister’s financial advisor, then goes on to say this will make one dinar equal to one dollar in Iraq. WOW! ...I was told by my CBI contact months ago to watch for right before the CBI makes one more “official” rate change closer to 1000 from 1320. If you take 1000...and delete the three zeros 1000 what do you have? Of course, you have a situation of 1 dinar equals 1 dollar...But I believe that when they CBI does make this next official rate change it will move closer to 1166 and not 1000 which would make 1 dinar = 1.16 dollars just over a dollar to help the banks retrieve these dollars hoarded outside of the banks...   Let’s sit tight and watch this play out.

 Samir Al-Nusairi, the Central Bank announced that it will launch the national lending strategy on 5/25/2024, which is a clear announcement of the beginning of the second phase of its banking reform strategy...CBI announces it has completed the first phase of it by...building solid international banking relationships with international banks and correspondent banks. Get ready….

 The UN, IMF and World Bank all on one day, Thursday, noted significant progress that Iraq has made in recent years, despite ongoing challenges. The reinstatement spigot has been opened. The direction is now clear.

So, in today’s news we read multiple articles coming out from the CBI and the Iraqi news telling us about yet more “WOW!” news...much of this news is confirming what my CBI contact told me recently so my trust level of my contact increases too. ...In today’s news the CBI is telling us they are moving into the “second phase of banking reforms” ...WOW! WOW! WOW!  ...Folks this RV train is moving along rapidly now. It is right in our faces now what they are doing. No more guessing or hoping. The reinstatement spigot is now wide open! ...The reinstatement is coming...Folks, it is now EXPLODING!  

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-mnt-goat-23-may.html

So, in today’s news we read multiple articles coming out from the CBI and the Iraqi news telling us about yet more “WOW!” news...much of this news is confirming what my CBI contact told me recently so my trust level of my contact increases too. ...

In today’s news the CBI is telling us they are moving into the “second phase of banking reforms” ...WOW! WOW! WOW!  ...Folks this RV train is moving along rapidly now. It is right in our faces now what they are doing. No more guessing or hoping. The reinstatement spigot is now wide open!...The reinstatement is coming...Folks, it is now EXPLODING!  

 Folks just remember I am telling you that Iraq already has a value to the dinar way above the 1/6 of a penny. They do not have to develop the private sector to raise the dinar, the economy or...export more products... 

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-mnt-goat-22-may_0247460925.htm