5-18-2022 Newshound Guru Pimpy This is great news of course. Article: “Iraq’s Oil, Gas Production to Increase By $17 Billion In Coming Years” That’s more money to Iraq, more money to the government to build more of the private sector to get them less reliant on oil to fund their budgets, give them a secured economy, strengthening up the dinar. First they got to straighten up the government…
5-18-2022 Newshound/Intel Guru Mnt Goat So, Iraq currently has two main ongoing critical sagas now taking place… The first is the elections and forming the new government…I want everyone to remember that months ago the CBI told us that the initiative to complete the currency changeover and thus later the reinstatement, was approved and just waiting for the president to be announced and then the rest of the political process to form the government to follow. The second is getting the 2022 budget.
5-18-2022 Newshound Guru Godlover Community Comment “…article statements give the support to the NEW Food bill being presented, and we all know the Budget Law 2022 will be required at some point…” The food security law & the 2022 budget are two separate animals imo. Many articles have made it clear that the food security law is an “emergency” law. Something I personally don’t think is a positive indication as far as the 2022 budget being passed anytime soon.
5-17-2022 Newshound Guru Militiaman As for when it will happen is always a question in many peoples minds…The whole process is unique…We can see that by the likes of the WB, the IMF, the AMF, the G7, G20+, WTO, AYSCUDA, BUNA, CRS2, ISO20022 digital platforms and or systems, etc.. Interlinking all those entities while trying to sort a convoluted process of seating the government to have credibility is directly in the forefront today. They’ll all need that to have the confidence needed for investors to have security and stability.
5-17-2022 Intel Guru MarkZ [via PDK] …the first reading of the Food Security law has happened. They will read a bill 3 times and it is already receiving overwhelming support. The second reading is tomorrow. I do not know how quickly we will get a third reading. When the last reading is done and passed…contacts in Iraq tell me that is when we will get the new rate…This is what I am told from people that work inside Iraq and involved with the Finance Ministry. This is fantastic news…
5-17-2022 Intel Guru Sheila [via MarkZ] …standing by for notifications and is hearing this is our week…
5-17-2022 Newshound Guru Kaperoni …There is no exchange in Reno. The only exchanges that have talked about in Reno were scams and people lost their funds.
5-17-2022 Newshound Guru Clare Article: “The Iraqi parliament sets tomorrow, Wednesday, the first reading of the Food Security Law”
5-17-2022 Intel Guru MarkZ [via PDK] [what is the first reading of the food security law which is scheduled for tomorrow. Is that a Vote?] It could be a vote…we don’t know at this time. They are expected to read it and possibly approve it if there are no changes made. We are also hearing they are to present several candidates to set their government tomorrow. So we expect tomorrow to be a big day in Iraqi politics.
5-17-2022 Newshound Guru Pimpy Let’s review again the criteria necessary to change the exchange rate. You have to have a stable government. Do we have one? No. The other one is you have to have a safe and stable country. Does Iraq have a safe and stable country? Well they’re launching missiles – I’m gonna go out on a limb and say no they don’t. Will all the fighting with political members and people launching missiles at one another it makes it really hard to change the exchange rate. You have to have a country outside investors feel comfortable and safe about investing into.
5-17-2022 Newshound/Intel Guru Mnt Goat …in 2011 the plan was laid out in an article by the CBI. So far they have stuck to this plan. We have seen all the necessary banking reforms, the completion of payment of war debt to Kuwait and all the necessary ties into the international investment arena so that the dinar could be used internationally. Why would they bother to do all this if they were not going to reinstate the dinar and trade the dinar internationally? …This reinstatement is coming as there is just too many past events that paved the way to it already to doubt…This is the perfect time for the reinstatement of the dinar.
5-17-2022 Newshound Guru Sandy Ingram Community comment “Oil has nothing to do with Iraq’s revalue, float or whatever they’re going to do.” …This could not be further from the truth…a county’s finances has everything to do with the foreign exchange rate thus we talk about Iraq’s huge oil revenue and how they are adding to their streams of income. It looks like Iraq’s income is about to become even larger…
5-17-2022 Intel Guru MarkZ [via PDK] [Will there be state taxes on the RV?] I don’t believe there will be any State taxes on the RV…i may be wrong…so best to be prepared just in case. [NOTE: Always check with your tax professional at the appropriate time to determine your taxes for your unique circumstances.]