"RV UPDATE" BY KAPERONI, 16 JUNE

  Kaperoni 

  Floating the currency is the best option but only once they have created a diverse economy that is not dependent solely on oil.

...New currencies coming out in Iraq. Not true, the Iraqi dinar is the currency of Iraq. As far as any new smaller denominations, they will be introduced only as needed if and when the value increases and warrants so. There is no significant RV!

--

...The dinar to float at well over a dollar. Unlikely, the dinar when it floats will be whatever the current exchange rate is and could rise gradually accordingly.

  Community comment: "Today the cbi says there are no new printing of bills"  

That is correct.  The Central Bank does not randomly print currency unless it's to replace damaged or worn out notes. There is no need for a new currency unless it is warranted.  Moving to digital will eventually reduce physical notes.

 Question: ----"They have a very largebudget ,without an increase in rate how do they meet the projects that is lined up?"

  External expenses are paid in dollars since their primary revenue is dollars. Dinar is used to pay salaries, etc. in country.

 CCommunity Comment: "Hopefully in the next 5 yrs we will see an appreciation of the currency  price, based on the last year of progress."  I agree!  Iraq has an excellent opportunity now to diversify their economy and develop  the banking system.  

 Much of the float articles that we have seen have concerns about speculators that is because they are referencing dealers speculating within the country.   That will not happen.

 All of these changes that they're talking about pertain to monetary policy. They have nothing to do with the exchange rate. Whether or not the exchange rate goes up or not is directly related to the economic success thereafter.

By the end of the year when the Central Bank of Iraq ends the currency auction, only transfers  amongst established Iraqi banks and regional or International banks will occur.  In other words, the float of the dinar and  transfer of funds will be institutional.

 What this means for us is the future of the dinar exchange rate is directly tied to the  capital flowing through the CBI, economic growth, and success of Iraq. As Iraq prospers, so will the dinar!  Though we may not see  the dinar exchange rate improve initially. This is a significant change in monetary policy for the Central Bank of Iraq. Some 20  years in the waiting.  

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-kaperoni-25-may.html

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-kaperoni-26-may.html

Iraqi dinar ✅Its, Massive Iraqi Dinar Revaluation Frank26 All IQD Ho...

Parliament hints at a "revolution" in the completion of laws in the new legislative term - urgent, 16 JUNE

  Parliament hints at a "revolution" in the completion of laws in the new legislative term - urgent

Baghdad Today - Baghdad

Today, Saturday (June 15, 2024), MP for the Fatah Alliance, Salem Al-Anbaki, confirmed that the new legislative term of the House of Representatives will witness a revolution to legislate laws.

Al-Anbaki told Baghdad Today that "there is a parliamentary consensus to focus the new legislative chapter to legislate important laws and stalled for political, technical or legal reasons, and we will witness a revolution to legislate a large number of laws."

He pointed out that "the Presidency of the House of Representatives directed all parliamentary committees to inventory their laws so that they are included on the schedules of the next legislative sessions and with the aim of voting on them, especially since there are approximately (140) Laws that need a vote in the House of Representatives, some of which have been suspended since previous parliamentary sessions."

Political forces are working to block important laws due to the great controversy. These laws represent as a result of being fateful reports, especially the "Oil and Gas" law and the "Federal Court".

The first legislative term of the second legislative year ended on June 10, after the term was extended from May 10.

BANK STORY FROM GINGER TELEGRAM CHAT, 16 JUNE

 B S 

So guys, I have a personal banking story , My sister who is awake to our event and everything I have taught her about the QFS, various currencies and Other people going to banks to just ask some questions. SO here it is.  My sister lives in a small town in Vermont, She went to her Chase Bank this week to make a deposit of cash, she had an Older $50.00 bill that was not going through the Atm machine, so she went inside of the bank to deposit it directly. 

Once inside she saw the Branch manager and pulled him to the side, she asked him if this Branch was going to be using the QFS system.  He said he was familiar with it but did not believe his branch would be involved with it. She then asked him if they Exchange foreign currency, he said yes but we can not exchange the Dinar or the Zimbabwe Zim, He said but we will be able to exchange all others. 

She then asked him if he was aware of the Upcoming RV, He said Oh yes and we are very close.  She then thanked him and said she will be exchanging elsewhere because since they cannot handle all of her currencies. 

She told him she will be back to see him once she has had her appointment and he was very pleased. ((This story is 100%  exactly the way my sister relayed it to me of how the conversation went)  MY TAKE AWAY, is that the branch she went into to was a small chase  bank branch in a small town and was not prepared to be set up as a redemption center but will be able to exchange currency. 

So she would have to travel a little farther away for a redemption center.  My sister was excited beyond compare after her own personal conversation with her “Branch Manager In Person” I am so happy that someone I personally know and speak with every day confirmed this first hand, and I’m ecstatic  that she now knows with 100% certainty that everything she listens to and what I have been telling her is the truth about all of this and how close we actually are. So,  HANG ON EVERYONE. This is 100% real and the banks exchanging and redeeming know about and at the very least the branch managers are acknowledging It.  We are about to come in for a landing!!!!!! “He said we are very close”

Iraqi Dinar Exchange Window Revealed 30 to 90 Days After RV

The state of law talks about the possibility of changing the candidates for the presidency of Parliament, 16 JUNE

The state of law talks about the possibility of changing the candidates for the presidency of Parliament

The possibility of changing the candidates for the presidency of Parliament was confirmed today, Friday, by Haider Al-Lami, the leader of the State of Law coalition.

“The Shiites and Kurds asked the Sunnis to agree on one candidate for the presidency of the House of Representatives,” Al-Lami stated.

He characterized the session of the House of Representatives in which votes were cast on candidates for the House presidency as a “farce.”

“The alignments that created the presidential crisis were the reason for the continuation of the struggle over this position,” he explained, noting that “The situation remaining as it is will leave Parliament without a president until the end of the current parliamentary session.”

"RV UPDATE" BY MARKZ, 16 JUNE

 MarkZ   

[via PDK]  Question:  I saw that Iraq has holidays coming up. Would this slow them down releasing the rates? MarkZ:   Everytime we have looked in the past we saw Kuwait revalued during Ramadan…. Iraq revalued in the early 70’s during a holiday. I wouldn’t be too worried about those things.

... Sudani told us that everything is now in the hands of the CBI…he was talking to Alaq at that time…  so it’s the   CBI ‘s job to change the rate.

 “After returning it for the purpose of auditing –The Iraqi Gazette addressed parliament to send budget tables”  

So they are expected to release it to the papers this week …There are a lot of people who believe we will see a rate when they do that. I do have a couple contacts in Iraq that believe we will see it then…They expect it to be published Saturday in the Gazette…I hope they are accurate.

Question:  Is watching the HCLimplementation a good indicator? 

 It’s a very good indicator.  I was told since very early in this process that this was a key indicator…along with the inversion in the bond markets which we have seen.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-markz-14-june.html