The problem with hype is that if you don’t deliver, it leads to disappointment. That’s happened a lot in this arena.
So we’re closing in on the end of the year and the idea that Iraq will cease the auctions to sell dollars. A lot has been made about how it HAS to cause a change in the value of the currency. And that is the hope. When the auctions end, the value of the dinar will increase based on usage alone. The problem really comes down to the same old thing, implementation. Iraq has failed on implementation of budgets and economic reforms for YEARS. This is the biggest problem in their system. They continually fail to follow through with the things that they vote on or promise. Until this changes, we have to temper our expectations. Now, IF they were to actually end the auctions in a couple weeks as promised, then we would have real, effective changes incoming. Just beware of the promises.
12-18-2024 Samson Article: “Get ready.. The exchange rate is about to rise again: The dollar selling platform will stop and “the shock is coming” Don’t let the expectations hype you so far up that it causes you be let down if the timing doesn’t come through. With parliament on recess, hopefully we’ll hear they continue to meet.
12-18-2024 Militia Man The dollar auctions are what’s the problem. That’s where the corruption is and that’s about ready to go bye-bye because [Alaq] said he’s getting rid of the black market. The things he’s doing is naturally gradually getting it done. I think by changing the exchange rate with Article 12 in the Gazette, budget being exposed we’re going to find out…They’re not paying salaries and not reopening the oil after losing $20 billion to keep the exchange rate at 1310. The problems do extend farther than just the auctions, as mentioned, the budget being implemented is a huge issue. Something that has plagued Iraq for decades now. They vote, pass and sign off on the budget, but they never implement it completely. Which leaves projects unfinished, jobs unpaid, and the citizens disappointed in leadership. This HAS to change.
12-18-2024 MarkZ I did speak with a redemption center/redeeming bank contact who said they are expecting to work this weekend. This was surprising…. He did not know if they are doing “year-end” stuff or something else. They were asked to bring laptops for some reason. Maybe some kind of training and they will be calling clients for wealth management or will it be redemption related? They do not know. Best part of that comment, They don’t know. This is what I’ve been saying all along. And while we’re on the subject of bank employees, I made a call to a Chase bank today and asked them about working weekends and overtime. Most bank employees are salaried and exempt, that are not tellers. So for all these years to assume that these people have been working on their own time, or bank managers are approving overtime for a salaried employee, yeah, I’m not going for it.
12-18-2024 Frank26 FIREFLY: TV is talking about allowing electronic passports to the United States of America. Cities like Los Angeles and Michigan. They’re saying there are large numbers of Iraqis in those two USA states…Iraqis in USA will have money to get back here…Maybe if they give us our money, these Iraqi citizens will be able to travel back to the country they left. Here’s an interesting twist to consider. What if, part of Trump’s “deportation” plan isn’t deportation at all, but citizens going voluntarily back to their homes. Think about large muslim populations in Michigan particularly. There are roughly 100,000 Iraqis in Michigan, making it the largest Iraqi population outside of Iraq.
I had an old friend text me today to ask about information that someone was posting saying that banks were exchanging the IQD. First of all, if you believe a single thing that comes from the convicted hot dog man, you deserve the rollercoaster. I hate to be brash about it, but honestly, you’ve seen it for years, all the “standing outside the bank eating a hot dog” nonsense, being convicted with others for scamming people, and continuing to speak as though he’s had a single thing real to say. Please don’t count on anything the gurus tell you. YOU will know the same time or sooner than anyone else. It will spread like wildfire and NONE of the nonsense, NDA posting yahoos comments will give you any heads up or advantage. I have a little over a month left that I will be posting before I take the site down. While I have hopes we’ll see real progress before that time, please understand there are legitimate things that need to happen before ANY change happens. A change in value doesn’t even guarantee you anything until the restrictions are lifted and you can exchange here in the U.S. or outside Iraq. Otherwise, tourism to Iraq may take a huge turn. Stay strong and Happy Holidays!
BWM