5-26-2022 Newshound/Intel Guru Mnt Goat Article: “INCREASING THE CAPITAL OF THE CENTRAL BANK ENHANCES ITS BALANCED MONETARY” Quote: “The Central Bank of Iraq announced the decision of its board of directors to increase its capital to 5 trillion dinars, an increase of 40% over its previous capital of 3 trillion dinars. 2 trillion dinars.” we can clearly see that the devaluation of dinar to rebuild the CBI reserves was a strategic move and included in the strategy of the White Paper. Now no one can say there is not Stability and Security…
5-26-2022 Intel Guru MarkZ [via PDK] Mountain Goat did a good update [Reference Mnt Goat post 5-25-2022] and I’m glad she did because I was afraid to mention these rates… My phone has been lit up today just on the rates…I am hearing the same thing on the rate…between $6 and 6.50. That has been a dominate conversation today with most of my contacts. I am a little excited about that. But the thought of the rate coming out low and floating up makes perfect sense…so don’t panic if that’s the way it happens. [if we got the rates now…we must be close.] I think we are very close now…I still hear the goal is to get this done in the month of May…
5-26-2022 Newshound Guru Samson Article: “The Central Bank : The implementation of the terms of the White Paper revived the Iraqi economy” Quote: “the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, confirmed the recovery of the Iraqi economy as a result of the application of the white paper.”
5-25-2022 Intel Guru MarkZ [via PDK] [Mark, what is your thought that it could go as an RI first then the next day or shortly after it goes to the RV?] I don’t think so…. I think they would have to float it if they did something around those lines. With the move to Basel banking … I believe they limit swings in currency to 20% a year…so I would assume if they go with the NEER rate –it could go from $1.60 to about $1.92 in the first year…then the next year it could possibly go to $2.40…ect…this makes the most sense to me…
5-25-2022 Newshound Guru Pimpy This man is about to make a power move…tactics that…made me chuckle…because it’s his way of sticking up the middle finger to…those who are supporting Iran… Article ” Iraq : Sadr bets on keeping PM Kadhimi and using political limbo to edge out rival” This is the Prime Minister Sadr wants…you see what he’s doing. ‘Fine, if they don’t want to go into parliament and vote on the president and the Prime Minister, no problem, we’ll just keep the ones that are there.’ Which is the ones they want in there anyways…
5-25-2022 Newshound Guru Kaperoni Oil prices have nothing to do with the price of the dinar, the price of the dinar is based on the amount of currency in circulation and GDP. Iraq currently has over 100 trillion dinar in circulation.
5-25-2022 Intel Guru Bruce [via WiserNow] …We had 2 very high up – as high as you can get – in the Treasury – ok – and the person helping him – to get this blessing out to us said that – he really did not see anything else that would be in the way for us to start… …we should prepare for any time this week all the way up to the first couple days of June…
5-25-2022 Newshound Guru Samson Article: “Finance Minister: Cash reserves will reach more than 90 billion dollars by the end of 2022″. Quote: “Iraq is approaching a record cash reserve…”
5-25-2022 Intel Guru Frank26 [Iraq boots-on-the-ground report] FIREFLY: Iraq made more off auctions last week. A good sign to the strength of the dinar. Oil and Gas Law being presented this week… FRANK: Many of the instruments used to give you purchasing power are being shown to you. The very last things will be a new exchange rate and the new small category notes…the are also showing you the HCL…money is pouring into your country and then will pour into your hands.
5-25-2022 Intel Guru MarkZ [via PDK] Very quiet on the RV front overnight. Bankers seem to be in a holding pattern. It is painfully quiet… I think we are just waiting for a “trigger” event…[Do you think we still could go in the month of May?] I still do believe that…
5-25-2022 Newshound Guru Godlover Article: “Parliamentary movement to pass the retirement and social security law” Now this is an interesting article. One would think that the 2022 budget would be needed for the retirement & SS laws to be implemented. With that said, we know from numerous articles that the food security law has a budget with it (hence “synonymous” with the general budget).
5-25-2022 Newshound Guru Godlover Would they use the food security law & budget for the retirement & SS law? Time will tell. I am still hopeful they bypass the “filler” (temporary) food security law & just focus on implementing the 2022 budget after the completion & announcement of the new government.
5-25-2022 Newshound/Intel Guru Mnt Goat I am getting information both from Iraq and from the US Treasury indicating that the formation of the new government is close at hand and will be announced soon. The rate of the dinar in the system is now over $6 however I am having a difficult time grasping my arms around this rate. I can not believe they would actually start at this rate. It…will probably come out at around $3+ or maybe low $4. But this is just my observance of studying this situation for over 17 years now.
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