Nick Fleming RVGCR Intel Update July 23, 2024
Tishwash (TNT) So they have released another Gazette but
still nothing on the budget schedules…
Frank26 (KTFA) [Iraq boots-on-the-ground report] FIREFLY: TV
saying Iraqis are keeping 90 trillion dinar at home hoarding them from the
banking system still. We say make the
dinar worth something and we will bring them in.
FRANK: Why does the CBI want the 3-zero notes back. Because they need to replace them with the
lower notes. Why are you getting lower notes.
Because you’re getting a new exchange rate.
Once they remove these 3 zeros from the exchange rate…it’s
going to gain in the new value. But
that’s not where they wanted at the RI.
They will float it and they will re-denominate and then it will hit an
RV as it floats from an RI back to the RV.
Question: ‘If the rate is $3.22 and you go to the bank and
exchange a 25,000 note in American dollars how much will that be.’ $3.22 times
25,000 friend.
MilitiaMan , They’re going to delete the zeros. You don’t create value by deleting zeros and
implementing small category notes. You
can’t take 1310, which is .00076 to the dollar and just delete the currency and
implement it without changing the value.
It doesn’t work that
way… .0007 is far less than a penny. You
guys settle down. Pay attention…
Jeff , There was a perception out there
that the rate was going to change before the July 18th accession date to the
World Trade…This was their 3rd accession World Trade meeting.
There’s a 4th meeting
coming in Q1 of next year of ’25…Many thought Iraq would become a full member
as of July 18th. None of that happened.
Delete the zeros has nothing to do with the exchange rate. Deletion of the zeros simple means removing
currency notes with multiple zeros on them.
Clare (KTFA) Article: ‘Government advisor reveals Iraq’s
gold reserves have risen to 150 tons… and the reason for its high price’ Quote:
‘Gold is one of the most important safe investment havens in the world, which
is resorted to by the investment portfolios of central banks and various
investors’
Kaperoni , Community Comment: ‘Does this have a negative,
positive or neutral effect on our investment’ Article: ‘Mazhar Muhammad Salih:
Our cash reserves are the highest and there are no fears of the dollar rising’ This is good news.
MarkZ [via PDK] There is so much going on this morning.
There are all these rumors that they have the rate – but we can’t go to the
bank yet. So take them with a bit of salt…
SkyWalker , Currency value and an exchange rate are two totally
different things and are determined differently. Changing the exchange rate
does not make value. Value is made by the monetary policies that CBI and Iraqi
government have put in place…
Now, the inflationary zeros will be removed because the
government has met the requirements of the CBI and made an economic environment
that will support both the value of the dinar and keep the economy humming
along.
Value through policies must be restored first which will be
represented with new notes being lower denominations… Meaning the three zero
notes will be physically removed from circulation and the lower notes without
the extra zeros will be issued.
Then and only then
the exchange rate reflects an increase in the relative price of the Iraqi dinar
compared to the price of another currency.
Sandy Ingram , Iraq will have the fifth largest economy in
the Arab world in 2024 according to the CEO World, a leading business
magazine…Iraq’s GDP will be $265.9 billion in 2024…This is excellent news for
IQD investors.
