MilitiaMan – Dinar Guru Article: “Ports call for accelerating electronic transformation” This has been a work in progress for years. They have not just started this. They have been hard at this for many years. Now it is effectively go time…We know the IMF, UN, World Bank, Bank of international Settlements, etc have a pulse in the on goings in the monetary reforms and digital transformation that Iraq is presenting to the world now. [post 1 of 2]
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MilitiaMan – Dinar Guru It is very clear they are gearing to interlink globally via land, sea and air…All borders, ports and airports will have codes for all goods. A requirement for Article 8 and or WTO ascension. imo ~ They are obviously educating everyone in the matter. The most important at this level are the those 200 banks, as they clear money globally… They all have a need to know and at the same time. They got the message…This is very very very exciting times imo! [post 2 of 2]
Mountain Goat – Dinar Guru Article: “THE GOVERNOR OF THE CENTRAL BANK DETERMINES THE STEPS FOR DEVELOPING THE FINANCIAL AND BANKING SECTOR” Quote: “He also urged banks to digitally transform the services provided by opening accounts remotely, and using applications such as mobile phone applications and internet banking services, in accordance with international best practices.”
MilitiaMan – Dinar Guru Article: “THE ARAB MONETARY FUND (AMF) HOLDS A VIRTUAL WORKSHOP TO DISCUSS BUNA’S COMPLIANCE STANDARDS AND INFORMATION SECURITY CERTIFICATION” …The country of Iraq is going smart tech now. Just as the borders are too. They are now already catching the pilfering of funds. That is not going to be allowed anymore. They are to nip that in the bud, pronto…They are going to the internet for international accounts. Article: “The International Islamic Bank launches a new service” They’ll need imo an international rate when all is ready, set, go.. imo. That appears to be underway and on many levels. Even King Salman has granted license for ITB to open branches in the Kingdom…imo.
Petra – Dinar Guru Article: “Ziad Khalaf: The Iraqi Summit For Digital Transformation Is A Gateway To The Country’s Development” This is key: “the direct cooperation between the Central Bank of Iraq and the providers of electronic lift services has contributed to the consolidation of the electronic payment infrastructure, in terms of the database, governance rules and instructions, and local and international compliance. He pointed out that the companies licensed by the Central Bank, Visa and MasterCard, and the two operators were able to support most banks in issuing international cards and portraying the reality of electronic payment services.” Key words: consolidation, infrastructure, governance, local AND INTERNATIONAL compliance, INTERNATIONAL cards…etc. Really a huge article and note…this meeting is in the past!! IMO…
Pimpy – Dinar Guru We already know they’re implementing their white papers. We already know they’re underway into this new budget. I know there’s supposed to be some amendments but you got one group saying that’s not going to be amended, others saying that they’re hoping for it. We’ll keep an eye on this. Oil prices continue to go up. This really benefits Iraq in a lot of different ways as long as they invest the money into opening the private sector…I know they’re saying no supplementary budget but I’m thinking there will be one…
Petra – Dinar Guru … More articles discussing France and China engagements (contracts) all are telling a very exciting story for the strength growing daily of the IQD…Many more articles… demonstrate that Iraq is getting financially stronger and truly getting their house in order under the direction of the IMF/WB/UST…
Mountain Goat – Dinar Guru Article: “ACTIVATING THE ECONOMIC ACTIVITIES OF IRAQ” Quote: “…activating economic activity between Iraq and the major economic blocs, is one of the things that contribute to activating economic activities, by investing in advanced technology for investment companies and transferring them to the country.” All good signs that Iraqi is moving ahead not backwards.
MilitiaMan – Dinar Guru There is plenty of data out from prominent economists…of recent mentioned clearly…that there is…a focus on the matter and that the HCL needs to be sorted and quickly... Digitization will have that taken care of. A level playing field with the smart technology initiative in mind will set this in motion quite quickly. At least it sure looks that way!!! All the work to date shows me that they are not stopping…
Mountain Goat – Dinar Guru I will tell you one thing for sure we can’t count on Ramadan as a target to let the RV happen. We never could...Every year we hear the same old crap…“Ramadan is the holiday of giving, so the CBI is going to give the people the revaluation.” …This is pure speculation…with NO FACTS to back it up…Just so you know Ramadan began in mid-April and so where is the RV? The upcoming Eid al-Fitr holiday is May 12 to Sunday May 19 and nothing is planned for an RV by the CBI. Don’t you think they would have announced some plan by now to educate the people, if this was the case?
Mountain Goat – Dinar Guru Article: “PROVINCE’S INVESTMENT: ANBAR INTERNATIONAL AIRPORT WILL BE THE LARGEST IN IRAQ” like I said before, the plans for Iraq is for a central hub of commerce and trade. We see it slowly taking place. Airports are big in this vision for Iraq.
Dinar Investor – Jeff Article: “Oil continues to rise and Brent is touching $67 a barrel” Iraq has not gotten any loans recently. They don’t have to get loans now. They have plenty of money from the oil surplus. Now that they have a surplus of money…they technically don’t have to change the rate either. They have plenty of money coming in now…the Central Bank told you they’ve implemented the reforms at the current rate of 1460…
MilitiaMan – Dinar Guru There is plenty of data out from prominent economists…of recent mentioned clearly…that there is…a focus on the matter and that the HCL needs to be sorted and quickly… Digitization will have that taken care of. A level playing field with the smart technology initiative in mind will set this in motion quite quickly. At least it sure looks that way!!! All the work to date shows me that they are not stopping…
BobTheTaxMan – Dinar Guru One of the blessings that we have living in the country that we live in [USA] is that they understand the value of free-enterprise. Small businesses, less than 50 employees, make up the majority of the money that flows through our system. People think that big money and big government are the ones that have control. To a certain extent yeah that true…but why do they call it coming to America and living the dream? …What is the American dream? [post 1 of 2]
BobTheTaxMan – Dinar Guru For me…having the opportunity to create any business I want. To be able to buy my home. To be able to have the freedom to vote and to participate in what’s going on in my world. That’s the American dream. America has that. We have the freedom to do so much more – the rest of the world cannot do…In the tax game you can win. It can be a win for you, the government, your tax preparer but to do it you have to understand how to play the game. Once you understand that you’ve got freedom. [post 2 of 2]
Breitling – Dinar Guru The way our tax system is structured – if you go to Ireland it’s less tax, there’s certain little tax havens but what you don’t realize is none of those countries have what we call loopholes…there’s things you qualify for to get tax brakes. This is what people don’t understand…there’s a million ways to get around it. That’s the secret. That’s what’s laughable. People who don’t have corporations and they get money taken right out of their paycheck, they have no say. Those are the ones that get hurt. There’s ways to be compliant. [Post 1 of 2]
Breitling – Dinar Guru There’s ways so the IRS wins and you win and you’re not paying this huge tax burden. You’ve got to educate yourself in order to play that game correctly…Remember in the United States you have representation…[if] you want to take a big pile of your IQD at whatever rate it comes in at with no representation…it’s a no-no. You can’t imagine the trouble you’re gonna walk into… [Post 2 of 2]
Kaperoni – Dinar Guru …There is no slow, calculated roll out or GCR…If and when there are laws in place to support a market economy and foreign investment comes in Iraq the CBI will float the dinar, but not until then.
MilitiaMan – Dinar Guru The AMF tells us the valuation of the AAD is 3x SDR / IMF. They don’t get specific from what I see. What I have seen is them give values of loans in USD terms whereby, one can do the math based [on] the value and come up with an exchange rate. If I recall accurately there were loans to Tunisia a couple years ago that amounted to over $4.00 USD. Even today 3x SDR is over that… As of Friday the SDR at the IMF is over $1.43+… If they keep to what the AMF has for the AAD, we can have an idea what to look for into the future. Imo…We know from what we have been told they are not floating the currency. Thus, to be stable they’ll need a strong and stable exchange rate for to do that. To defend a currency at a low rate can be far to risky. The stronger it is the better and easier it is to defend imo.
MilitiaMan – Dinar Guru …[Saturday] was to be a day where the Iraq Trade Bank was to start the Interconnectivity of digital Dinar and the Dollar. If that connectivity has in fact been put in place electronically, then it would seem that the ISX will need the same ability electronically. If they are opening to the world and they are imo, the borders crossings are already waiting and ready…It surely has been a remarkable amount of progress to get this far. I agree with many there is no turning back.
BobTheTaxMan – Dinar Guru Question: “Should I take my IQD to a foreign country so I can avoid the Biden Tax?” There are two countries in the world that if you attempt to negate or move your finances out of that country…can stick you with 50% of what you own. One of them is [United States of] America and the other one is North Korea. When you’re an American citizen you’re playing the game. You’ve got a blessing for being an American citizen but that blessing has a cost to it. And the cost is taxes…
Breitling – Dinar Guru I think people associate time, they’re like ‘Oh my god I’ve been in this thing a certain amount of time so this isn’t good.‘ That’s completely untrue. I told you guys form the beginning this is not a get rich quick scheme. This is a country and countries move at a slower pace. There’s been a couple windows of opportunity for them to revalue. I don’t know maybe that gets into people’s heads like, ‘That’s negative.’ No! It’s all positive.
MilitiaMan – Dinar Guru The list of things accomplished now is powerful. E-Government is in place. E-Commerce is in place. Electronic borders for fees, taxes, customs, etc., are all set and ready to go. E-Payments and settlements…done…ready to go…Digital Dinar and Dollar were to have Interconnectivity yesterday with and through the Iraq Trade Bank…I can presume that is done…Financial inclusion is done.. The ITB also has the full support of the USA, as does the Central Bank of Iraq. So we can see that by all those items, there is not much left to do other than adjust the exchange rate to meet international standards…We are in a very powerful place and no one should be discouraged. I sure am not!
Breitling – Dinar Guru I don’t see anything bad coming down the road…But they’ve got to do it correctly…the people that I know who helped set this up (I don’t know them personally) they still have dinar. They all have faith in it. I know there’s governors, there’s senators…they still have it. Whenever this comes down, at what rate, at what pace that’s our lot. There’s nothing negative here. Don’t worry about that…
Pimpy – Dinar Guru Article “What is the area in which the central bank moves in the area of controlling the currency exchange?” When it’s a “free float” then it’s up to supply and demand. That means the market decides the value of the exchange. You have a “fixed rate”. That’s where we are right now. They’re telling you right now you get 1460 dinars for every $1. That’s a fixed rate. [Post 1 of 2]
Pimpy – Dinar Guru A “dirty float or managed float” you let the market determine the value of the currency but if it goes too far one way or the other the bank can intervene and fix it. In other words peg it to something for a second. There’s been a lot of talk about the currency. Are they going to free float it? The funny thing is why are they having these types of conversations? If we’re being told the rate is going to remain the same for the next 3 to 5 years whey do they have these conversations going on…I’ll tell you why. It’s because they have no intentions of on keeping this rate fixed for that long. It’s just not going to happen… [Post 2 of 2]
Petra – Dinar Guru There’s a pattern here…way too many articles about updating the banking system down to the teller level. It’s way too many…we’ve got all this integration going on. Tellers are being trained…we’ve got all this banking stuff going on. I mean there’s a lot of talk about banking…I love that the governor of the CBI came out this morning and says, ‘Hey we’re going to get our banks ready to start accepting digital transactions.‘ Uh, excuse me sir we already know that’s been done…I think he’s trying to buy time…all these things are lining up…put all these kinds of things together it’s pretty exciting…
BobTheTaxMan – Dinar Guru I’m watching the banks. That’s my primary interest. What is the CBI doing? How is Warka interfacing? I do have a contact at Warka. I know what the interface looks like and I understand what they are doing. They are working really really hard to get themselves SWIFT compliant. Because once that happens the door opens for more international functionality and business and all those things that make credibility real in that country… [post 1 of 2]
BobTheTaxMan – Dinar Guru I know that the interface between all the different banks…hasn’t been completed yet. That’s something I learned from Warka. That’s something they’re working on. We also know the infusion of additional cash flowing into Warka is scheduled to come from the CBI but they haven’t released it yet. I think part of the reason they’re holding it up is because they still don’t have a value associated with it correctly. Here we are. It’s all moving forward... [post 2 of 2]