Tishwash (TNT)Article:‘Talabani calls for expediting the enactment of the oil and gas law.’Quote:‘the Deputy Prime Minister explained, ‘We are in favor of quickly passing the oil and gas law during the new session of the Iraqi Parliament…‘______________________________________________________MarkZ[via PDK]Question: Have they passed HCL yet.They have passed parts…we need to see it all passed and I hear its soon. ______________________________________________________Frank26 (KTFA)[Iraq boots-on-the-ground report]Omar: Iraq’s economic plan summary Oliver Wyman August: In 2024 to 2025 collaboration and preparation phase with the international partners. In 2026 official implementation phase kicks off. Then they say from 2026 to 2028 is the expected timeline for the currency value to increase as part of the broader economic stability and growth strategy.FRANK: That’s the float! All of this is in the Oliver Wyman report. …I’m stunned. I’m shellshocked. I’m extremely surprised. No wonder Sudani said, ‘In the forth quarter.’ No wonder he said all the things he’s saying because everything Sudani said is in this report.Why do you think the WTO was in your country Iraqi citizens. Because they know that the rate is about to come out. That’s the only way the borders can be protected with the WTO. People…insist this is a lop…It’s so ridiculous. How in the world can somebody think they’re going to take the physical currency in their hand, take a pair of scissors and cut the three zeros out. A lop is when you add zeros to the exchange rate…To say the word lop is beyond s****d … Inflation is less than 1%. Where in the world does a lop come into the conversation. ______________________________________________________Mountain GoatArticle:‘TALABANI CALLS FOR EXPEDITING THE ENACTMENT OF THE OIL AND GAS LAW’Quote:‘We are in favor of quickly passing the oil and gas law during the new session of the Iraqi Parliament…’The Kurds have been the hold up all along in getting the law passed, now its parliament. But parliament does not yet have the bill from the cabinet plus they must now wait for the new session and the e*******s.MilitiaManThe need is to get the rate ready first and then pass the laws because it’s going to be cheaper for them to do so. When they pass these laws it is going to be far cheaper to the country of Iraq than they would be if they were today. In other words, the plan would be to make it cheaper, more stable, make the system work better for Iraq…The architects of this have been brilliant. I’m fascinated on how well they’ve done…The last 72 hours the e*******s have been done, banking rails are live, they’re making fuel at home, Gold and reserves are higher than advertised…BIS application filed and accepted for review…Things are working quietly in the background…Alaq has the legal button in his hands. Let’s hope he pushes it.The HCL…everybody thinks that we have to wait for that. I don’t believe that’s the case and here’s why. Governor Alaq has full legal power to change the exchange rate any single day he wants. There’s no vote required. Central Bank law number 56 of 2004, article 27 – The CBI board alone decides the rate. Parliament cannot stop him. He has already done it twice in 2021 and 2023. He can do it again tomorrow morning if he chooses...You don’t have to worry about parliament because [the hcl] is going to take place afterwards…once Alaq does a real effective exchange rate.______________________________________________________PimpyWhen I talk about lopping off the zeros, they’re talking about take it off the nominal rate [the numbers on the notes]… They’re not losing any purchasing power. 25,000 times the currency exchange rate .00076 equals $19. If you take the zeros off, and that includes the exchange rate, 25 times .76 is still $19. They haven’t lost any purchasing power whatsoever. The only thing that’s changed is the nominal value. The [numbers] on the currency is called a nominal value…They still have purchasing power whether it’s a 25 dinar or 25,000 dinar…because they take the 3 zeros off the currency and it comes off the exchange rate. That’s how they maintain their value.Be careful of all the articles out there that talk about the exchange rate. It’s okay to talk about them, it’s another thing to get overly hype for them. The truth of the matter is nobody’s going to know until the actual exchange rate comes out or until they get on the Forex. That’s when the truth will come out. ______________________________________________________Sandy IngramThe reason why Iraqi dinar investors may want to be more than concerned [about the next PM’s priorities] is the development road project is on the agenda. We want that to stay on the agenda because many of us are thinking once Iraq becomes an international trading hub they will have little choice about increasing the value of their currency…Fnu LnuTo clear up some misconceptions. When you exchange your currency, many are thinking that they will get a SAR, (Suspicious Activity Report), and have to explain how and where they got the large sum of money. Usually a SAR is filed by the bank if they do not know the source, and the amount is over $10,000.00. This is an International event whereby the banks know exactly how and from where the money came. You have a F&C report not a SAR. A Free and Clear report absolves you from having to explain because everyone knows exactly what is going on. Your account will not be locked up by the feds. ______________________________________________________Walkingstick (KTFA)Question:‘What do you think about the statement Sudani made when he said, ‘in the 4th quarter of 2025 we will bring you your purchasing power to your currency, we will add value to it’.’It has to be voted on. That’s what they’re doing…He didn’t lie…They’re voting on the 2025 budget and everything that’s in that ’25 will be reflected in the ’26 which is the new exchange rate. Because the budgets are voted on before the new year. You’re seeing ’25 activating the new exchange rate and you’re going to see ’26 show the new exchange rate.Source : dinarchronicles
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