Iraqi Dinar Guru Update (10-08-2024)

Intel Guru RayRen98

 NEW INCOMING COMMUNICATION IS STRONGLY INDICATING THAT WE’LL WAKE UP WEALTHY $$$$$

Newshound Guru Samson

 “Parliamentary Finance Committee reveals its efforts to increase non-oil revenues and activate collection“

Intel Guru Frank26

[Report on boots-on-the-ground activity from Iraq] FIREFLY: CBI is discussing a way to cut off the electronic platforms. FRANK: Correct. Nowadays, they cannot pilfers the money by that means. This is excellent…Now those who were pilfering the American currency and the dinar are under protection from Iran. Given that was the top need of the US Treasury. We referred to it as security and stability, and so did Dr. Shabibi…

Newshound/Intel Guru Fnu Lnu

A first year business major would inform you that the government has NO business meddling in the illicit market. You remove it! How would one ask? By merely increasing the value of the money to be either equal to or more than the black market expansion. You remove the profit-motive, hence criminals will go elsewhere in search of income.

Newshound Guru Clare

Article: “Central Bank of Iraq announcements comprehensive banking reform map” Quote: “It exposed the road map for drastic and complete financial reform after the Central Bank team returned from the latest round of negotiations with the US Federal Reserve and the US Treasury.With international transfers between Iraqi banks and correspondent banks, the Central Bank’s plan before the end of the year will reach 100% without passing thru the US Federal Reserve.”

Intel Guru MarkZ

[by PDK] Give this some thought. Although it will momentarily devaluate the dinar, it lets them purchase it at a bargain via big auctions. Suck billions more dinar off the streets.What a fantastic start heading into a re-valuation. It will enable them to rationalise a higher value. For us, this might be major. This is my view and it makes logical. Comment: Sounds to me like negative news.like they won’t be RV for weeks yet. Markz: If auctions go straight forward, they might be ready in one day or two. I think they will proceed fast on this… Recall Sudani mentioned last week that they intend to revalue this year under his leadership.They are laying the scene and the timing is excellent. [Post 2, second]

Intel Guru MarkZ

[via PDK] story from Baghdad today: “Sources: It will flip the parallel market upside down. Central Bank expected choices will perplex markets and drive exchange rates up. Saying increasing exchange rates is like saying “in the wrong direction.” It will thus go to one US dollar equals 1500 dinar or so if one US dollar today equals 1310 dinar. They will thus be holding an auction on US dollars. They acquire dinar off the streets and intend to flood more US cash into the markets. The argument is “To help support the exchange rate”. And to assist in money laundering and sanction cleanup. [ Post 1 of 2….stay tuned]

Newshound Guru Pimpy

Article: “The parallel market will flip around. Sources: forthcoming central bank decisions that will distort the markets and increase the value of the currency rate.” It’s odd they omit stating which exchange rate. Quote: “He declared the decisions are likely to raise the dollar exchange rate in the parallel market…” For us, a rise in the dollar exchange rate is not favourable. The dollar is so gaining versus the dinar.The official exchange rate is 1320 for every dollar; on the illicit market, they are getting 1505 dinars for every $1.00… far more than this.It is once more out of whack. You will see the black market truly start to grow as it grows more difficult to obtain US dollars. What kind of decisions the central bank will make intrigues me.

Newshound Guru Militia Man

Article: “The Parallel Market will be upsended” Quote: “Central bank expected decision will perplex markets and increase exchange rates…These choices will cause the dollar exchange rate to rise.” Regarding the parallel market, you are referring to a black market—an illegal market—that is undermining the channels of access to obtain the dollar. That is drawing to an end.Parallel markets mean you will have issues. Should you ignore it, you will suffer [assuming you are carrying dollars rather than dinar]. They are warning them [ Iraqis utilising the illegal markets] to get out of the dollar.

Newshound Guru Samson

 Article: “Five Oil and Gas Laws in Parliament”

Intel Guru Frank26 

[Report on boots-on-the-ground activity from Iraq] FIREFLY: Alaq among others makes a large delegation.He proceeded to Erbil for the economic conference. Following the main conference came a closed meeting. We expected it mostly concerned the oil and gas HCL they have discussed with us. Frank: This is all education for monetary reform.

Intel Guru MarkZ

[ Via PDK] Another major issue over the weekend were comments from Iraq people claiming ownership over their own oil earnings. If this is true, bills have been paid and the official declaration declaring Iraq to be out of chapter 7 will shortly be made. This is great. We know they fulfilled all the criteria several years back. But it seems they now entirely control their oil income. This is a sizable work. We simply need an official notice before we can arrange the band and throw a celebration.