[via PDK] It has been quiet out of Iraq but, there is lots of expectations...
There is movement from what I call a “Massive whale” he’s in between a whale, paymaster and group leader. He was asked to pack his bags and get to Reno. I think that is a positive sign... There has been a lot of travel requests in the last day or so to get headed west.
I would like to point that when we talk of redemption centers…these are redeeming bank…BANKS…not some sleezy back alley place. BANK locations with trained staff to exchange currencies and have equipment to verify foreign currency in front of us…
The Prime Minister’s Advisor for Finance, Mozhmeh Mohammed Saleh, on Friday summarized the benefits of Iraq joining the membership of the European Bank for Reconstruction and Development.
Saleh said, to the official agency of his follower / Mawazine News, that
“There is a positive syndrome between building the development strategy embodied today by the government’s philosophy of launching the development initiative with comprehensive sectoral economic links, which is called the project (development road), which is the corridor and strategic project that connects the European Union countries in Asia through Iraq and the Gulf maritime corridors and vice versa on the one hand, and the requirements
for implementing the various stages of the development road through the role occupied by Iraq’s membership in the European Bank for Reconstruction and Development on the other hand, especially in the preferences of obtaining European technology and ensuring the role of EU countries companies in implementing the development path with its joints, whether in infrastructure and projects industrial productivity and various logistics services.” He added that “the membership provides our country with the likelihood of obtaining easy financing, technical assistance and its requirements Europe in supporting development activity in our country in its various joints and sectors,” continuing that “Iraq’s accession to the membership of the European Bank for Reconstruction and Development represents a broad view that carries strategic dimensions in the cohesion of the climate of economic development in Iraq and in accordance with the requirements of the government program and the national development plan 2024-2028, while embodying the needs of our country for the sustainability of international cooperation in reconstruction, development and sustainable development in the long term.”
If they're going to do a re-denomination and a reevaluation at the same time then I guarantee the notes they're going to use are going to be the lower denominations. So instead of getting $3 per dinar for a 25000 note, you're going to get $3 per dinar for a 25 dinar note. You can jump up and down and have a fit all you want. I've been telling you guys this is what's going to happen [If they re-denominate]. This is great for the Iraqi people...They'll be happy about the change in their wealth but the western people will not even have a taste of it...I keep warning you guys about this
The official exchange rate, that's the one we want to changebut surely wouldn't want it to change with new re-denominated currency with the deletion of the zeros. I want a nice fat $3.00 to 1 Iraqi dinar exchange rate with the currency we have now
Think about it. The current Iraqi dinar of 25,000 dinar - they delete the zeros off, now becomes 25 dinar and then all of a sudden they change the exchange rate from where it is to $3.22 per dinar. This is good for the Iraqi people, their purchasing power has changed. They can get a lot more things bought with their money. But that doesn't help us because they lopped the zeros off...so instead of getting a $3.22 rate against a 25000, we're only going to get that $3.22 rate against a 25 dinar. Instead of getting millions you get thousands...At least be aware that that's possible.
The White House announced the date of Prime Minister Mohammed Shiaa Al-Sudani’s visit to Washington and the meeting of US President Joe Biden.
White House Press Secretary Karen Jean-Pierre on the visit to Sudan said in a statement that {Euphrates News} received a copy of it, “On April 15, President Joe Biden will welcome Iraqi Prime Minister Mohamed Shiaaa al-Sudani to the White House to coordinate on common priorities and promote a strong bilateral partnership between the United States and Iraq. The leaders will reaffirm their commitment to the Strategic Framework Agreement and will deepen their shared vision of a secure, sovereign and prosperous Iraq that is fully integrated for the wider region.”
“President Biden and the Sudanese Prime Minister will consult on a range of issues during the visit, including our shared commitment to the permanent defeat of ISIS and the evolution of the military mission nearly a decade after the successful global coalition was formed to defeat ISIS,” he added.
Biden and Sudani will discuss “also ongoing Iraqi financial reforms to promote economic development and progress towards Iraq’s energy independence and modernization,” Biden and Sudani will discuss, according to the statement.
Community Comment: "If the current rate is 1320 to 1 and you remove the three zeros wouldn't the new rate be $1.32 to 1?"
Frank26: No...Stop putting a decimal in the 1320...You must understand this relationship as 132 dinars equals $1.00 which is a rate of $0.76. If you have 1 million dinar 760 American dollars. If you have 1 million dinar and they take it to 1 to 1 you have $1 million.
Question "Are the Saddam dinars worthless?" Yeah, they're worthless because they're no longer recognized by anybody.