2Cents: Hope this post helps many. I wanted to revisit the post of WS (Walkingstick) as it seems there is still confusion here.   It always bothers me as the underlying fundamentals of this “investment” are so sound.  It is the confusion that always blurs the facts.  WS posted:

ftti: 12 ——> 9 ..  Trillions to Billions …. RD coupled with RV … moving forward —–> RI …  Follow, the Turkmenistan model..

IMO,  he is saying exactly what I have previously posted.  We are waiting for the next step, taking their currency from trillions to billions just as they have said they will do…..this is the Redenomination (RD) just as they said they would do….the caveat here is that they MUST change the rate significantly in order to make the new redenominated currency functional (coupled with RV)…think about it,

1 IQD is valued currently at less than 1/10th of a penny and they plan on bringing out fils down to 1/40th of an IQD.  Ask yourself why they have not yet even released the 250 and 500 they told us they were going to release with the new 1,000.  At the current rate, they would have to carry 100’s of them just to amount to anything.

This would cause them to be ripped, torn dilapidated quickly.  Look at some of the pics that DELTA brought of the condition of some of the new 1000’s already.

​This stage is in all likelihood not a move from Article 14 to Article 8 and therefore this will mean the rate is considered as it is today meaning the currency is not for “use” outside Iraq.
Banks in the world may or may not buy/sell at this stage but I anticipate the brokers will as they do now but at the new adjusted rate +/- their “spread”….

Then, “moving forward” we should see the RI.  This will be the official move from Article XIV to Article VIII….this may or may not be associated with another change in rate.  This, however, will be the official release to allow the IQD for “use” outside Iraq….therefore, banks that deal with foreign currency exchange now(excluding dinar) will begin exchanging IQD for the currency of their country at that time as they see fit.  Not a big deal for them to do.

They already do it with other currencies.  All they need is to see the bank’s going rate to buy/sell the IQD.  It will just show on their computer with all the other currencies they accept for exchange.

IMO, I do not look for the RI…….I look for the RD!!!…This is also the time we should expect to see the famed “Article 2″….All other steps will follow

As an aside, look at all the meetings Barzani is having…….He hasn’t yet stomped his feet and headed out……good times ahead!!!!

MilitiaMan:  Well done 2 Cents, thanks.. The Barzani meeting seems to me to be a very good sign, he showed up and the oil is flowing..

TSM:  and the price of it is CRASHING…. what does this do to their big plan of higher oil prices to support the dinar?

MilitiaMan:  Lol The price crashing in one way yes it is. Yes, it has come down hasn’t it? $59 brl for Brent $50 ish for WTI. Did you know they increased their oil reserves by 66%? Did you know in the ME under circumstances they consider the value based on assets not just backed by assets? There is a difference. My view, is if they value of crude comes off the high recent high of $80 and we are now at $60 real close is a 35% move, thus, being asset based they are still ahead of the curve.. imo.. So imo their BIG PlAN is as good as GOLD (another story) .. lol imo ~ MM

Sunkissed:  This is a most interesting post to me… because of your wording MM.

“So imo their BIG PLAN is as good as GOLD (another story) .. lol imo ~ MM

If my memory serves me the IMF encouraged Iraq last year to not rely solely on their oil (BLACK GOLD) to back their currency.

Check out this article because it appears they have followed the IMF directive to increase their YELLOW GOLD reserves. I can’t find any more current information than September 05, 2018. If you or anyone else does, please share with the rest of us!

Iraq ‘s economy boosts gold reserves to 96 tonnes

September 05, 2018

The Central Bank of Iraq announced the strengthening of reserves of gold by (6.5) tons to become a total balance of gold 96 tons.

This comes within the framework of the Bank’s reserve management policy in diversification of investment assets.

An authorized source at the Central Bank of Iraq said the bank had invested in the fall of precious metals to carry out the purchase of the additional quantity, which was carried out in cooperation with the French Central Bank.


MilitiaMan:  Lets not forget what WS told us about mining.. The miners are in country now. Well imo, some have been for many many many years now. In fact there are some of us that know there is a world class shallow gold deposit not far outside of Baghdad. Gold as in AU.  A Mountain of Gold & (Oil).. Iraq has literally both of the base assets, gold is money, oil is too.. imo ~ MM

Frank: “WS: Is there anything else you want to tell me about Donald Trump?

WS: Umm…there’s an investment law being passed and approved that he is pushing
tremendously right now.

FRANK: What is it?

WS: It’s an investment law – a precious minerals and metals to bring in companies to
establish the mining in Iraq.

FRANK: More wealth?

WS: Yes, so that more wealth can be spread.

FRANK: Well, that’s right – that’s under the HCL, right?

WS: Yeah.” ~ Frank26 & WS

MilitiaMan:   Nusairi; He is pointing out just how far they have come and where they are headed into the future. They have accomplished the goals imo of and or within the 2016-2020 plan and now are in the sustainable development plan. Thus, we see the education of the citizens not only on their currency reform but the stock market and bonds associated with sustaining a new market economy.  This should make everyone feel good that they are clearly doing as they said they were going to. So that BIG PLAN is underway even with oil dropping, forcing them to tell everyone they have twice as mush oil.. Very fascinating way to get what they need out into the open.. – IMO  ~ MM

Samson:  Nusairi: We want a parliament and national media that does not take them in the right to a suitable nation

23rd November, 2018

The economic and banking adviser of the Association of Iraqi Private Banks Samir Nusairi, said that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy.

The criticisms and rumors and the new malicious campaigns will inevitably harm the national economy and the Iraqi banking sector because the policies and procedures adopted by the Central Bank during the past four years refute all the boycotts and the directions of the media outlets benefiting from the launch of the seven billion dinars dinar and the building of the Central Bank

Al-Nusairi said in an interview with the Economic News Agency that “the Central Bank has been working mainly to combat money laundering and terrorism financing, strictly abide by international regulations, rules and standards, re-evaluate and classify banks in light of their compliance with compliance regulations, New in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar against the exchange rate of the US dollar, “noting that” the most prominent reasons for the recovery of the Iraqi dinar is the plan and procedures of the Central Bank and cooperation of the banking sector with him and commitment to The instructions and standards issued by the Central Bank

“The Iraqi banking sector is the first major link in the economic circles of Iraq and occupies a fundamental and important aspect as the financial and investment sector, which is the main part of the financing and management of economies

He pointed out that “the Iraqi economy, and because of the circumstances experienced during the past four years of the fall of oil prices by a sudden 70%, the costs of the war on terrorism and the economic recession and the unstable business environment in Iraq, led to the passage of this sector with great challenges did not pass any sectors of banking In the whole region, “pointing out that” this sector, both government and private under the leadership of the Central Bank of Iraq has faced these challenges pilot experience must be followed because what has been achieved is a major development and victory can be called financial victory and economic steadfastness. ” Destruction that affects the relationship Our financial and international banking

“We aim for the next five years in the sustainable development plan for the years 2018-2022 to achieve financial sustainability,” he said, pointing out that “the government and private banking sector plays a key role in achieving this

“The banking sector is composed of 73 banks, government, private and commercial
He said “developments in the banking sector indicate the efficiency of the performance of this sector trends that are reflected on the gross domestic product

He added that “the central bank’s policy has contributed to the payment of dues of farmers and contractors and played a key role in launching the initiative of financing small and medium enterprises and is currently on the establishment of a fund for joint funds to finance large projects, stressing that” the Central Bank to follow this step and bold to activate the economic cycle because These initiatives achieve two objectives: economic and social

He stressed that “the banking sector is part of the strategy of the Central Bank during the five years 2016-2020, which includes developments in the structural and evolutionary and in compliance with international standards in risk management, compliance and in combating money laundering and banking awareness,” pointing out that “The Central Bank of Iraq is an international standard for the classification of banks with classifications a , b and c in accordance with international standards issued by the Financial Action Organization.

This has helped Iraq move in light of the organization’s arrangement from the monitoring and auditing area to the normal follow-up area every two years    LINK

MilitiaMan:  The stress testing maybe complete now from the looks of this. Maybe Walkingstick could shed light if that is the case or not? The liquidity and interstate rate risk assessment is what they needed to know was within thier stress test parameters.. Possibly one more door closed as we move through the implementation phase.. -MM

Samson:  The Association of Iraqi Private Banks concludes the liquidity risk management cycle

22nd November, 2018

The Iraqi Private Banking Association concluded Thursday its liquidity and interest rate risk management course at its headquarters in Baghdad

The director of administration and training in the Association of Iraqi private banks, Ahmed Hashemi, during the closing ceremony, which was attended by “economy News”, “The Association of Iraqi private banks are trying through their ongoing training to adhere to the CBI’s training and keep abreast of the banking development taking place at the Arab and global levels

He added that “the course of risk management was attended by more than 30 trainees such as government and private banks, a step that suggests interest banks in the training organized by the Association of Iraqi private banks

The director of risk management at the Central Bank of Iraq, Hussein Lazem, said during his attendance at the graduation ceremony that he noticed that most of the problems experienced by banks caused by the imbalance in the Department of Risk Management

He added that “so the Association of Banks has been interested in the establishment of such courses that will rise in the banking sector of Iraq during the coming period    LINK