"RV UPDATE" BY ARIEL, 24 JUNE

 Ariel 

@Prolotario1

🚨 Iraqi Dinar News: 

1. Current Exchange Rate: 1320 dinars to 1 USD.

2. Proposed Revaluation (RV): Dropping three zeros from 1320 results in a new rate of 1.32 dinars to 1 USD.

3. Pipeline 2024 Budget:

• Allocated Amount: 6.5 billion dinars.

• Converted to USD using the proposed rate: 6.5 billion dinars / 1.32 dinars per USD = approximately 4.9 billion USD

4. Calculation: 

6.5 billion dinars

4.9 billion US ≈ 1.32 dinars per USD

4.9 billion USD 6.5 billion dinars ≈1.32 dinars per USD.

Now I see why the The Budget Department of the Ministry of Finance called on all ministries, governorates, and entities not affiliated with a ministry, to send their representatives tomorrow/today Sunday, June 23, 2024, to receive estimates of current expenditures, revenues, and investment projects for the current year. 

Which were approved by the House of Representatives in accordance with Parliamentary Resolution No. (64) of 2024, adopted at its session numbered (27) on June 3 of the current year.”

People they now have all the calculations for what is going to be spent. Which means they are ready to reinstate the currency. The Revaluation happened internally in-country in 2023. We are not waiting for that. Man we are so close now. Because with these investment projects ready money is about to start flowing in. 

The current rate of 1320 dinars to 1 USD, when adjusted by dropping three zeros, would be 1.32. The calculation then links the budget allocation for a pipeline project, which is 6.5 billion dinars, equating to approximately 4.9 billion dollars. 

This aligns with the new adjusted rate, suggesting the timing of these financial plans is intentional, aiming to expedite projects like the new pipeline before 2025. Remember they do not have the luxury any longer to drag their feet. The oil pipe line is being expedited. 

I hope you all are preparing yourselves. You can wake up at any moment and be in an entire new income bracket. Everything is is perfect alignment. Especially when you consider the ATMs that are being deployed.

The 'Forces' Pushing Gold To New Highs Aren't Done, This Is Next For Pri...

"WE SHARED THAT MINERAL PERMITS & LICENSES WERE BEING DONE FOR IRAQ'S PRECIOUS METALS" BY FRANK26, 24 JUNE

 KTFA

FRANK26: "WE SHARED THAT MINERAL PERMITS & LICENSES WERE BEING DONE FOR IRAQ'S PRECIOUS METALS"...........F26

Iraq Opens Copper Recycling Plant in Dhi Qar

19th June 2024 in Construction & Engineering In Iraq, Iraq Industry & Trade News

By John Lee.
 

Under the patronage of Minister of Industry and Minerals, Dr. Engineer Khaled Battal Al-Najm, the ministry's Development Advisor, Qaisar Ahmed Al-Hashimi, inaugurated a copper recycling plant in Dhi Qar's General Company for Electrical Industries.
This project, in partnership with a private Iraqi company, aims to produce 3,000 tons of copper rods annually. The facility will supply copper, essential for manufacturing cables and electrical wires, thereby reducing the need for imports, cutting costs, increasing productivity, and providing environmental benefits by recycling copper scrap.

In his opening speech, Al-Hashimi praised the Ministry of Industry and the General Company for Electrical Industries for their achievement. He highlighted the company's capabilities and expertise, which enable it to keep pace with global developments and support Iraq's electrical system.

Al-Hashimi emphasized the ministry's commitment to reviving and developing strategic industries and enhancing the competitiveness of local production as part of the government's program.

In a press conference, Al-Hashimi noted that this project is a result of the Mineral Investment Conference and the Industrial Partnerships Forum held last year. The plant will support the production of high-standard local cables and electrical wires, enhancing the capabilities of the General Company for Electrical Industries, known for its industrial specialization and robust national production.

LINK

"RV UPDATE: A BANK STORY" BY MARKZ, 24 JUNE

 MarkZ  

 [via PDK] 

  A bank story: A little state bank in Texas…A member asked a teller if there was a new bank system…and was told “could be” and then when asked if they exchanged foreign currency…they said “yes, we will be”...this is interesting from a smaller state bank. Seems more and more banks are reporting massive changes.

 It is totally coming...Just because it hasn’t happened yet, doesn’t mean it’s not happening...there is no negative news. There is nothing telling us it isn’t moving forward anymore.

There is a lot of anticipation for this weekend. Bank/Redemption contacts say they are on call this weekend…and have an hour notification time. They have one hour- if called to go in. This was from 2 different contacts from 2 different states that said the same thing. This is very positive.

CHELLA: Iraqi Dinar News Sponge Docks Vacation

To confront the electricity crisis...a parliamentary call to oblige state departments to adopt solar energy, 24 JUNE

 To confront the electricity crisis...a parliamentary call to oblige state departments to adopt solar energy

6/22/2024  Baghdad

The Parliamentary Electricity and Energy Committee called, on Saturday, to oblige state departments to adopt a solar energy system to confront the electricity crisis in the country.

The committee said in a statement, seen by Al-Iqtisad News, that “in light of the climate that the country is experiencing, with temperatures rising above 50 degrees Celsius and increasing power outages, the citizen is suffering from a real crisis of energy shortages. The committee calls on the government to :

1- Reconsidering the mechanism for distributing electrical energy, rehabilitating generating units, and maintaining the dilapidated network, and the need to take urgent measures to address the above problems. 

2- The committee calls on the Ministry of Electricity to bear full responsibility for providing electrical energy to citizens and distributing electricity fairly. 

3- The committee calls on the Prime Minister and the Minister of Electricity to replace the general managers and branch managers who were proven to be negligent in performing their duties in overcoming the crisis. And those who have held positions for long periods. 

4- Requesting the Prime Minister to oblige all state departments and the private sector to install and establish a solar energy system at a rate of 25% of their departments’ consumption, provided that it is implemented during a period not exceeding three months.

5- Activating and adapting the Central Bank’s initiative regarding solar energy for citizens and accelerating its implementation in order to support the national grid. 

6- The Ministry of Oil must provide the fuel share for stations under construction and invest in the associated gas. 

7- Intensifying the efforts of the Ministry of Electricity and accelerating the transformation of the electricity system into a smart network and implementing all projects that will preserve the use of electrical energy in the optimal way. 

The committee confirmed, according to the statement, “that it will approve the evaluation form for general managers and branch managers and submit it to the Council of Ministers and the Ministry of Electricity to take the necessary measures according to the evaluation issued by the committee.”  LINK

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 24 JUNE

 Frank26   [Iraq boots-on-the-ground report] 

  FIREFLY:Measures by the CBI they say will reduce the dollar rate...They say it will help reduce the dollar rate in coming days. 

 FRANK:  The only measure the CBI is taking to reduce the amount of dollars in your country is the introduction of a new exchange rate that will add value to your currency, to your lower notes, and eradicate the need of using any foreign currency.  This is the goal of the monetary reform process...I agree, in the coming days this mechanism...will bring forth value to your currency and continue to remove the American dollar from your society.

FIREFLY: International finance team is on the television channel one...They're saying the economic reform is Iraq is at an increasing rate and we have invested over $2 billion in Iraq.  

FRANK: This is the international finance community.  They all know what's going on.  When they say your economic reform has increased... what they're talking to you about without saying it, because they cannot, is the float.

FIREFLY: My bank guy said...Sudani...sent Alaq out in February...to announce to everybody that we were going to have a change in our exchange rate.  Then Sudani comes out and talks to us about it as well...in March...considering a change in our currency to 1.32 from 1320.  Now that the budget is about to be revealed he strongly suggests to me that we will be seeing the new exchange rate at 1.32 instead of 1320. 

FRANK:  They keep the exchange rate at 1320 to give you more purchasing power...They are about to give this power to you.

----

FIREFLY:  Gold reserves over 145 tons TV says. 

 FRANK:  No...It's not 145 tons.  It's a lot more.    They're never going to tell you the right amount...It's a heck of a lot more than that.  Notice every time they talk to you about their gold it just gets bigger and bigger.  That is because of the success that is going on with the rewriting of the contracts and the success of the monetary reform...

 FIREFLY:  My bank friend...reminded me...remember back in February of this year when Alaq came out and he talked to us on television and he said, Iraqi citizens the project to delete the zeros still exists.  He didn't say the plan is to LOP our currency.  They are two totally different things.  We are deleting zeros and adding value.   

FRANK:  I love this because it's coming from the horse's mouth, a man of authority who knows what he's talking about...

---

 FIREFLY:  They told us...due to typo errors in the printing of the budget it will be reaudited and sent back to gazette...after EID holiday...All sound little fishy to us...An Iranian proxy saying budget is under appeal but we see nothing official of that...We trust it is going to be in gazette after EID holiday...

  FRANK: They know what you are about to receive - your purchasing power.  They know it's going to be extremely difficult for them to steal this value, this currency, so in the last nanosecond, just before Sudani and Alaq present the new exchange rate and the lower notes to you they do everything possible to prevent you from receiving your blessing...

https://dinarevaluation.blogspot.com/2024/06/iraq-boots-on-ground-report-by-firefly_0922640454.html