FIREFLY:Saleh on TV right now and he just told us that the project to delete the zeros is ruled out at this present time...Then he turns around and says we need to reduce the amount in the budget from trillions to billions and then ends the conference talk by saying many have called for the removal of the three zeros which would increase the dinar...We are both in shock and stunned because he said one thing and then he said another thing.
FRANK: What he's telling you is exactly right...it doesn't make any sense...This is B.S. It is a lie...Trust me, nothing is stopping the purchasing power that is coming to you Iraqi citizens. Nothing...China did the same thing back in the 90s...They came out with a full page article in their newspaper saying there were not sign to increase the value. 3 days later they increased the value.This may be the same scenario. A diversion for speculators.
==
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Alaq in the United States of America means very little for us in the sense of a rate change. It is more for the banks to try to get their situation straightened out and no more sanctions.
FRANK: I agree to a certain point but I also disagree to another point.
IMO this meeting in New York may not release a new exchange rate but it is definitely part of the monetary reform.
This meeting will accomplish steps that are necessary to release the new exchange rate.
Your banks have to be stable and secure and free from the corruption of parliament and they must be ready for the new exchange rate. That's what they're doing.
A lot of good news out there…over the top good news…Lots of chatter looking at tomorrow…but, we don’t know when it’s going…if half the rumors are right about it has started...we are in great shape... I am still hearing from lots of sources that things are well underway and we should soon be seeing dollars.
But I cannot pin anyone down that they have physical dollars. I’m hearing it...The problem is I have not been able to verify them.
Community Comment: if they’re under NDA’s, you’ll never get verification-imo.
MarkZ: And that is a possibility. But for me I’m going to back up a little, stay clam and find out what is real or not.
I am getting many reports...that payments have started. Reports that payments are rolling out to groups...
But I am staying calm because I have not been able to prove it yet. But I am looking for proof that this is accurate. I am hearing this from many different sources….
IF this is accurate…in the next day or two-you and I should find out when we can go in and exchange our currency - IF THIS IS ACCURATE....I am getting blown up with contacts saying they have let things go...I have heard this from a number of sources... STAY CALM….I am really trying to stay calm as well.
Article: "Two conditions to achieve it .. Al-Sudani's advisor rules out removing 3 zeros from the currency"
This is what's happening right now. This is called diversion tactics...slight of hand. This was done with China and it was done with Kuwait...This is part of the monetary reform. To put out disinformation that is a deterrent, maybe, that is putting
speculators at bay.
Frank26
I pray that this dream will come true for the both of us.
It is very close.
There's no doubt about it.
All the indications are pointing that it's very close. I just hope we get some good news when Alaq [returns from] New York...
Frank26
The new lower notes and the new exchange rate will revolutionize the whole Middle East, let alone the whole world...The monetary reform is the linchpin. It's the trigger. It's the button that will be pushed to change financial structures around the world
...We investors of the dinar have a backup for a backup in order to survive this global financial change...
Frank26
Article: "Iraq and America to resume negotiations on the banking sector next Monday"
ALAQ'S VISIT IS ON IRAQI BANKS... IRAQI BANKS ONLY CARE ABOUT A NEW EXCHANGE RATE.
Frank26
I don't care about the WTO and HCL because it only waits for one thing, the new exchange rate. The only mechanism that everyone is waiting for is the new exchange rate.
That is the simple fact. This fact is real because Sudani is constantly reinforcing that idea...by constantly coming out on TV and talking to you [Iraqi citizens] about you're going to get purchasing power.
We found out the 3 zero notes are going to coexist with the lower notes for 10 years.
Do you understand the power behind that?
That means we're going to be able to participate in not only the float but the Real Effective Exchange Rate (REER)
Frank26
The goal is what? Retrieve those [Three zero notes].
How?
As soon as we raise the value, give them purchasing power, as soon as we drop the 3 zeros, they're going to bring in all that 80 something percent [still in Iraqi mattresses]...The monetary reform plan is brilliant...It is moving at a very fast pace.
DINAR REVALUATION
ANALYSIS OF WHAT EDDIE TOLD TO FRANK26:
"Then Saleh talking about oil being sold in dinars instead of dollars."
Economist back on tv saying it’s time to drop the zeros."
---It sounds like there's a couple of interesting economic discussions happening in Iraq right now!
Saleh and Oil Sales in Dinars: Saleh's suggestion to sell oil in dinars instead of dollars could be aimed at strengthening the Iraqi dinar and reducing dependence on the US dollar. This move could potentially stabilize the local economy and improve national financial sovereignty. However, it would also require significant adjustments in international trade agreements and currency exchange systems.
Dropping Zeros from the Dinar: The economist's call to drop zeros from the dinar is a common monetary policy strategy known as "currency redenomination." This involves introducing a new unit of currency that is worth a thousand or more times the old unit. It's often done to simplify transactions and improve the currency’s image after periods of high inflation or economic instability. For Iraq, this could be a step towards stabilizing the currency and restoring confidence in its value.
Both of these measures reflect efforts to address economic challenges and enhance the stability of Iraq's financial system. The success of these strategies will depend on how they are implemented and their impact on the broader economy.
SEEMS THAT WE ARE REALLY CLOSE TO OUR DESIRED RV!!!
Iraq’s Prime Minister’s adviser confirmed a renewed agreement with the US Federal Reserve, enhancing Iraq’s banking relations and foreign trade financing.
Highlights
🤝 Renewed understanding with US Federal Reserve boosts Iraq’s banking market.
💼 Optimistic results from discussions between Iraq’s Central Bank and US banking authorities.
🌍 Establishes a clear path for international banking relations and foreign trade financing.
💳 Multiple currencies, including Euro and Yuan, will facilitate trade alongside the US dollar.
🏦 13 private commercial banks highlighted as key players in new banking mechanisms.
📈 Focus on compliance and governance for global correspondent banking entities.
🔄 Aims to rebuild Iraq’s domestic banking market on solid reform foundations.
Key Insights
🤝 Strengthened US-Iraq Relations: The renewed agreement fosters a collaborative framework between Iraq and the US, crucial for economic stability.
💼 Positive Banking Dialogue: The discussions reflect a commitment to aligning Iraq’s financial practices with international standards, enhancing confidence in its banking system.
🌍 Global Trade Facilitation: The establishment of precise banking paths will streamline foreign trade financing, crucial for Iraq’s economic growth.
💳 Diverse Currency Usage: Expanding payment options beyond the dollar, including the Euro and Yuan, mitigates currency risk and enhances trade flexibility.
🏦 Role of Private Banks: The involvement of 13 private banks indicates a strategic shift towards leveraging local expertise in international banking mechanisms.
📈 Compliance and Governance Focus: Emphasizing compliance ensures that Iraq’s banking operations meet global standards, attracting international partners.
🔄 Reconstruction of Domestic Banking: A focus on reform will stabilize and modernize Iraq’s banking sector, laying the groundwork for sustainable economic development.
Today, we are going to look at a CBI article from Iraq and one from the IVSC. The CBI article parallels what the US is doing in completing their final steps of the new digital economy.
Both countries, US and Iraq, are expected to complete their Banking Reforms by the end of this year. Iraq goes on to say in their CBI article that they do expect to be finished with their Banking Reforms, but they do not expect a new rate by the end of this year.
Two shifts are expected to happen by the end of this year:
* Iraq is expected to move from the Federal Reserve auditing and monitoring their Banking Protocols to Iraq having a direct relationship between banks around the world.
* Their anti-money laundering law is supposed to protect cross-border trades as well. This will enable Iraq to have more control over their finances going forward.
This will allow Iraq to become part of the process of new standard valuations being placed on their currency through the IVSC.
The International Standards Valuation Committee meets on January 31st, 2025. They are expected to begin the process of incorporatimg new valuation standards and assess their values including the new digital economy that will influence new Financial Instruments Valuation protocols.
Although the International Valuation Standards Council (IVSC) does not determine market values, it does provide standards for valuation that are used globally.
The International Valuation Standards (IVS) are a framework used by valuation professionals around the world to guide the valuation of assets and liabilities. The IVS helps to ensure that valuations are consistent, transparent, and comparable.
This process sets the stage for International Payment Systems to begin the process of determining currency values based upon supply and demand, governmental policies, exchange rate types such as fixed or floating rates, and/or pegging to another currency.
I will continue to monitor Iraq and the United States development of Banking Reforms as they reflect on new Quantum Technologies built to enhance Independence and Sovereignty of all countries around the world.
This is why I share with you information on these new rules and regulations from the Federal Register. I am noticing that what happens on the Federal Register with the new banking regulations taking place in the United States are also taking place in Iraq around about the same time.
