Thursday, June 6, 2024
Al-Sudani and Syrian President discuss security and economic cooperation, 6 JUNE
Al-Sudani and Syrian President discuss security and economic cooperation
particularly economic sectors." The discussion also addressed regional developments, notably the ongoing conflict in Gaza. Al-Sudani and al-Assad stressed the need for a "unified Arab, Islamic, and international stance to address the continuous Israeli aggression and alleviate the suffering of the Palestinian people."
"STATUS OF THE RV" PART. 1 BY MNT GOAT, 6 JUNE
STATUS OF THE RV
Welcome to June. We have waited for this month for a long time to come. This month I believe is going to be a critical month for us investors. Why do I say this? Remember I am only telling you what I read in articles and what my CBI contact relays to me. I am not a financial planner or banker. I cannot give you any investment advice.
Oh… let me guess the RV did not happen as TNT Tony idiot told you it had to happen by the end of May. Oh …. Wasn’t it also by the end of April, but before that it was March then February, bla, bla, bla. Just a bunch of lies predicated on nothing truthful, honest or with any hard evidence to back up what they say to you.
I want to start my news today by explaining a very interesting article titled “CENTRAL BANK: THE ISSUANCE OF NEW MONETARY DENOMINATIONS WILL NOT AFFECT THE DINAR EXCHANGE RATE”. You can find the entire article in the Articles Section of today’s Newsletter.
I would consider this “WOW!” news. We must ask ourselves why now this article. So, on Monday a member of the Board of Directors of the Central Bank of Iraq, Ahmed Barihi, confirmed to us and I quote from the article –“ that the issuance of new cash denominations, large or small, will not affect the dinar exchange rate.” These are nice words but what do they mean?
He then goes on to say – “The Central Bank of Iraq is working according to well-studied plans, and there is no intention to issue new currencies in large or small denominations.” And then “ If we assume that the central bank issues a new currency, this will not affect the exchange rate of the Iraqi dinar.”
So, what does this all mean? What is being said here. Let me explain this article to you.
This article only reinforces once again what I have been saying all along. Another one of those “I Told You So” moments. If the CBI drops the zeros (project to delete the zeros) the rate of the dinar will remain the same in-country of Iraq. It only changes when the reinstatement back to FOREX occurs and you take the dinar and trade it thus exchanging dollars to buy dinar or visa versa. This is why I have been saying all along that the value is already in the dinar only the rate, right now, does not reflect the true rate. Please go the page on my blog showing you how this works with an example. This is the LINK. This is why I posted this additional page on my blog. I encourage everyone to please go read it carefully.
Next let me point out something else. Why now on May 27th did the CBI make this announcement about the issuance of newer lower denominations? Could they be heading into June for the redenomination of the three zero notes? What do you think?
Last week the decision was made by the UN to end UNAMI’s mission in Iraq and this is a big step. Oh.. I really mean a HUGE step towards full sovereignty. The United Nations is looking through another eye at Iraq now and is following up on all political, security, social and economic activities. The government of Iraq has a major role in this transition, and it is a major step to prove that Iraq has a different title and status and the need for complete sovereignty and dealing with the country on the basis of this entitlement. Yes, Iraq has announced the phase 2 initiative. Phase 1 set the foundation for what is about to happen in the banking and investment sectors.
....BE CONTINUEDThe regional government discusses steps to resume oil exports and confirms sending a government delegation to Baghdad, 6 JUNE
The regional government discusses steps to resume oil exports and confirms sending a government delegation to BaghdaThe fourth – Baghdad
The Kurdistan Regional Government of Iraq on Wednesday discussed steps to resume the region’s oil export, while noting that it is continuing talks with the federal government to resume exports as soon as possible.
The regional government said in a statement received by (the fourth), that “Prime Minister Masrour Barzani chaired a meeting of the Kurdistan Regional Government Council of Ministers in the presence of Deputy Prime Minister Qubad Talabani, to discuss steps to resume the export of the region’s oil.”
She added, “A delegation from the Kurdistan Regional Government and oil companies is scheduled to visit Baghdad early next week at the invitation of the Iraqi Ministry of Oil to discuss and develop a solution mechanism to remove all obstacles to the resumption of oil exports.”
"RV UPDATE" BY MARKZ, 6 JUNE
MarkZ
[via PDK]
Comment: It looks like the Iraqi budget needs to be published in the Gazette before it becomes legal. If they are waiting on that it may be Wed or Sat …or it becomes legal 15 days from yesterday? MarkZ: Exactly...At this point we are expecting it to be published in the Gazette [Wednesday] or Saturday... There is a mechanism to RV in the budget. And I have a ministry contact in Iraq who still thinks we will see a new rate with the budget. Whether that is Wed. or Sat…we will see... This contact works in the government in Iraq.
---Question: ...is it true the Budget has nothing to do with the rate. It’s dependent on oil ?
MarkZ: Yes and no…in the budget they left a mechanism for a revaluation based on rates and oil production. ….They can do the budget without the rate change- does it make sense to do that? NO….because they have been running over a 30% deficit each year.
I have been unable to find a complete copy of Iraq’s budget that was passed to look for a rate. I do not think the new rate is in the budget that was passed …yet. They have the mechanism for changing the rate in there though. So they can do that rate change at anytime...They are still showing the official rate of 1310….TIDBIT FROM FIREFLY, 24 DEC
Frank26 [Iraq boots-on-the-ground report] FIREFLY : Mr. Sammy said with this auction stopping the value would have to be added to st...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...