Mountain Goat
What you want to see is the nominal rate put back on FOREX when it comes out following the project of removing the zeros. It is the repegging to a new basket and off the sole peg to the US dollar that will allow for a very high rate to be announced on FOREX… they told us they do not plan to float once they remove the zeros (but will float once on FOREX). The mere fact that they talked about not doing a float in the same articles about removing the zeros told us this FACT.
Will removing the zeros actually happen and we get the reinstatement in January 2026. I can only report on what they say and then bump it up with my CBI contact. Our next step is to wait and see what happens. Again, nobody is going to know the actual target date but we might be able to come close…
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MarkZ
[via PDK]
It is believed they are holding onto the budget because the rate is in it. That is what my sources in Iraq are saying. A number of them work in the government of Iraq. Comment: I am hearing the Iraq budget has blank spots in it.
MarkZ: Quite a few. And there is a mechanism in the budget for a rate change.Why would there be that mechanism in the budget if they weren’t expecting an RV.
Frank26 (KTFA)
I only showed you three numbers – 3.22, 3.86, 4.25…You may say, ‘Is that the exchange rate.’ That’s not giving you an exchange rate, it’s giving you a comprehensive study of what they said the float could do in order to reach the real effective exchange rate.
It’s not rocket science. The moment they lift your 3 zeros from your exchange rate, once they are deleted, it is an automatic flip of a switch electronically. [Iraq’s] system is set up to show that new exchange rate instantly. It will happen at the blink of an eye…Once that happens, it will be the signal to the Iraqi citizens it is now time to trust banks and bring in the 3 zero notes. If not, [Iraq citizens] lose their money…
Question:
‘If they change the rate, will it be overnight quietly.’
Yes, when the rate changes there will be no pomp and circumstance. There won’t be any fireworks going off. There won’t be any celebration. Maybe inside [Iraq], but not around the world. The news will catch up with it, but there will be no major announcement. It will only be internally inside [Iraq]. That’s where the excitement will be seen…When it happens it will be like flipping the switch of a light bulb. It will happen quickly, instantly.
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MilitiaManThe central bank governor told us more than once that the project to delete the zeros off the exchange rate is going to happen. It’s still in process. They’re working on it. He can’t tell you exactly what’s going to take place but he can give you some information…If they do an adjustment, drop the 3-zeros from .00076 then…apply a real effective exchange rate based on fundamentals. [The fundamentals] are off their gold, their reserves etc.
When Alaq changed the rate from 1450 to 1310 what did he say. Immediately. That’s what he did. <snap> Done. That’s my expectation.Clare (KTFA)
Article:
‘Iraq announces a new phase of security cooperation with America’
Quote:
‘The spokesman for the Commander-in-Chief of the Armed Forces, Sabah al-Nu’man, announced on Friday that Iraqi and American officials are committed to laying the foundations for a new phase of security cooperation, stressing that consultations between the two sides regarding the future of the relationship between the two countries will continue’
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Fnu Lnu
Article:
‘Iraq’s current economic and financial conditions will note a number of macro-indicators suggesting that the country’s fiscal policy has entered a state of deficit. This does not refer solely to a shortfall of revenues against expenditures, but also to a deficit in managing the supply of local currency, ensuring sufficient dinar liquidity, and meeting the government’s domestic obligations such as salaries and other operating expenses.’
Iraq’s economy…is NOT in good shape and the mismanagement is catching up to the CBI…There will be no RV in the near future.Source : dinarchronicles
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