I want to give you an update as to where we are with our foreign currency investment.
It doesn’t matter what the guru’s say. It matters what Iraq is saying.
I know it’s been a stressful ride for some, but what we had come to realize is that Iraq, the US and many other countries had an agenda to follow. Laws to be put in place, corruption to clean up & political infrastructure to complete.
Before there can be a rate change on the Iraqi dinar, as you can see, there is an agenda and it’s fluid.
It changes form & evolves with many cooks in the kitchen.
We have been intently studying the information coming out of the Iraq parliament, Council of Ministers & The Central Bank of Iraq.
If you FOLLOW THE MONEY, you can see this unfolding in front of your eyes.
Millionday: (all article/press release links are available for supporting data)
CBI HAS ANNOUNCED THE COMPLETION FOR THE RELEASE OF FUNDS FOR PROJECTS — IT IS POSSIBLE IN THE NEXT TWO DAYS — WHOOPOW
HUGE HUGE PROGRESS FOR IRAQ AND ITS DEVELOPMENT
THE MOVEMENT OF MONEY IS TO BEGIN THIS MONTH (POSSIBLY 2 DAYS) FOR THE LOANS TO BEGIN PROJECTS AS THEY HAVE WAITED FOR YEARS TO SEE.
THE PROJECTS WILL BE FUNDED IN — DINARS (THE IRAQI CURRENCY) AND THEY HAVE WORKED WITH BANKING -COMMITTEES TO PUT CONTROLS AND MECHANISMS IN PLACE –HUGE (hmm.. seems impossible to fund them at 1usd=1166dinars) Need a rate change!
CBI IS PREPARED TO FUND BANKS TO LOAN TO ENTERPRISES FOR THEIR PROJECTS FINALLY
WE READ A REPORT THAT STATED THEY WERE TO DO THEIR INTERNATIONAL EQUATION — THIS WOULD DETERMINE THE REALITY VALUE OF EVERYTHING INCLUDING THEIR CURRENCY —-
Article quotes: “The Iraqi government plans to issue local bonds worth five billion dollars, starting from the last quarter of this year…“ “The bonds will be issued in US dollars in stages based on investor demand, and investors will choose between receipt of an asset at maturity in dollars or dinars, but at a better price than the market price.”
“He noted the former official at the Central Bank of Iraq, Qassem Saleh appearance, that “the medium-bond maturities range between 12 and 18 months.”
Millionday: NOTE — THEY ARE GIVING A CHOICE OF RETURN IN EITHER US DOLLAR OR IRAQI DINAR — WOW — AND ANNOUNCED THAT THE MATURITY WILL PRODUCE A HIGHER RETURN THAN –MARKET PRICE — WHOOPOW
Millionday: [via BGG]>> They just told you they are planning for an internationally accepted Dinar. How do you want your return? In USD or Dinar…something is up. …according to banking reference yesterday – (IHHO) he would find it highly unlikely for there to be an international acceptance and trading without a reality rate.
Doodle Brain: Hugs to you MD and thank you for this evening! So they stated that you could either get Dinar or USD at maturity…could this be that the Domestic payouts will be in Dinar, and if you were International you could get USD? (Hope that was a clear question)
Millionday: YES — THE REASON I CAN SAY YES IS ONE — THEY STATED THAT IT WILL MATURE AT A HIGHER AMOUNT THAN THE MARKET PRICE — SO THE BONDS WOULD BE ON THEIR MARKET AT THAT TIME — HUGE CLUE FOR ME — WHOOPOW
MOD.subgirlcopy: Does this NOTE — CONTRACTS HAVE BEEN ESTABLISHED AND ANNOUNCED TODAY INCLUDING INTERNATIONAL COMPANIES- start the 3rd quarter???? That is awesome news!!! I love the thought of the international companies being named here… Whooopoooww!!!!!
Millionday: WHOOPOW — AND THIS IS THE DEPARTMENT OF COMMERCE
.MOD.subgirlcopy: Does this contracts start the 3rd quarter? July 1st??
Millionday: THE FINAL ACCOUNTS WERE CALCULATED TO THE JUNE 30TH OF 2015 — MEANING WHATEVER CHANGES BEGIN JULY 1ST — SMILE
HOTRODS: HOW CAN THEY DO BUSINESS INTERNATIONALLY IF THEIR CURRENCY IS NOT INTERNATIONALLY RECOGNIZED?
Millionday: MANY HAVE — INCLUDING THE HOUSING BEING COMPLETED BY TURKEY — HAVE DONE WORK ON CREDIT –
HOWEVER THE REFORMS AND MOVE TO A MARKET ECONOMY AND CHANGES THEY ARE ANNOUNCING WILL SHOW US THE ECONOMIC DEVELOPMENTS THEY WILL BE MAKING — SO WE WILL SEE
HOTRODS: THANK YOU MILLIONDAY FOR ALL THAT YOU BRING! BUT AFTER 9 YEARS IN THIS …. I AM STILL CONFUSED!!! LOL
Millionday: THEY NEED THIER CURRENCY TO BE INTERNATIONALLY RECOGNIZED TO GO TO A MARKET ECONOMY — HOTROD
Doodle Brain: I understand the “it needs to be internationally recognized…” really I do. But isn’t it? They have a rate, they have their Petro dollars…Is it just because it is not tradable on a platform? and needs to be?
Millionday: NO IT IS NOT ON NASDAQ RIGHT NOW AND THE INTERNATIONAL RATES HAVE NOT BEEN RELEASED
Millionday: WE HAVE HAD HUGE ANNOUNCEMENTS TODAY — HUGE PROGRESS FOR IRAQ
BGG: P.S. this next bit from MD will blow your doors OFF!!
Millionday: NOTE — THIS IS FROM CBI AND IS ACTUALLY STATEMENTS MADE BY TURKI (Governor of The Central Bank of Iraq) — IMO — HUGE STATEMENTS
Millionday: APPEARS CURRENT 148 07/08/2015 09:19 PM
Millionday: NOTE — SMILE >>>“…the fiscal and monetary authorities in Iraq now that is seriously considering (and bravely) adjust the exchange rate of the Iraqi dinar and including in line with the real price for the operation of the economy and the productive sectors, we know that it will be at the expense of all of our dreams strongly Iraqi dinar, which was worth US $ 3.33…”
Millionday: NOTE — THE FAIR TRADE THAT GLOBAL MARKETS BROUGHT ALSO BROUGHT A REQUIREMENT FOR A LEVEL PLAYING FIELD — MEANING THE PARALLEL VALUE FOR ALL ACCORDING TO THIER OWN VALUE — ASSETS –GDP–ETC
Millionday: SO AS WE HEAR FROM TURKI`S POINT IS THAT DECISIONS HAVE TO BE MADE FOR IRAQ TO AVOID CRISIS — HARD DECISIONS TO AVOID HARD RESULTS — SO HUGE POINT THAT CBI MUST MOVE FORWARD WITH THE CURRENCY
All I can say is that it is appearing that we are almost there.
