Net asset value is now 804 million wow. Both the shares and net asset value could hit 1 billion at this point with how fast this is going .
Leliu Swann
What a great accomplishment having reached this goal. I’m sure we will be well over this before the end of 2020. Great work Andy & George. Your hard work with getting out information and videos is greatly appreciated. Our family is truly blessed.
Andrew
ANDY, You and George and Bethany had a heated discussion the other day over what the devaluation might mean. I am going to post something from Guru Mountain Goat. Now, normally I am not a guru person if you personally know me…BUT what Goat says here of the process taking place makes perfect SENSE. What you think? I AM EXCITED!!! Here it is…
Mountain Goat
12/22/2020
Todays news is all about the recent change in the CBI selling rate of the dinar. We must try to understand just what happened and why the CBI did what they did.
From comments made on many of my more recent posts and newsletters, I got a pulse of my audience and what you folks are thinking. I see that there is so much concern about the latest news about how the CBI is now setting the old dinar rate of 1190 (about 84 cents) to 1450 (about 69 cents).
What is the CBI doing?
I know we all expected the program rate to get closer 1.00 from the 84 cents prior to the project to delete the zeros. So, what happened and why is the CBI doing this and doing it now?
The answer is a brilliant move by the new CBI governor and the explanation is multi-faceted. So, I will try my best to explain all the aspects, as told to me by my CBI contact.
Remember by doing this the CBI is cutting out the spread that is made in the currency auctions and money exchangers. So, this is the first aspect.
Next, by having done this it is hurting the banks and their profit margins and the money laundering going to Iran.
Next, it is forcing the banks to invest in other profitable ventures and not get so dependent on the currency auction revenues, which are going to end soon.
Next, what was more amazing is at the same time the CBI also announced they are doubling the amount of US dollars for circulation. Why are the doing this? Shouldn’t they be de-dollarizing and not dollarizing?
The answer again lays in the reason to collect the 3 zero notes. Let the citizens have the US dollars for now. In the future the plan is to set the value of the dinar higher than the dollar. But how will they do this?
The CBI is using the principle of supply and demand. We know that in the past the CBI was restricting the US dollar. Now they are infusing them. So this is going to bring the supply up. Demand price of the US dollar then drops as supply goes up. Scarcity causes prices to go up, abundance causes prices to drop. If this works, and it should, the value of dinar will rise against the dollar as the US dollar drops. Remember the dinar is on a de facto peg to the US dollar. In short, the CBI is manipulating the US dollar to get the dinar to rise.
Defined: The law of supply and demand: Is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price.
Later citizens will be taking the dollar and converting them back to dinar as the dinar revalues. This is a reverse effect. The citizens will then want to take the US dollars and exchange them back to dinars since the dinar will be worth more. The CBI is using the speculators of the US dollar to their advantage.
But here is what we need to pay attention to. This switch back to dinar is going to happen suddenly and without notice much like the devaluation just happened. This is when they will issue the lower denominations and the fun begins. It’s all in the timing.
Do you see the brilliance and strategy of the CBI?
Over the years, and just recently over the last month, we have read numerous articles about the difficulty the CBI was having collecting these 3 zero dinar notes still in circulation. We know the plan calls to collect these notes.
This is a well thought out strategy by the CBI. Haven’t you learned your lesson yet in that NOTHING just happens or is COINCIDENTAL. This is all planned out for a reason and leads to their original plan.
So, the good news is I feel we will see the rate get better than the 1190 (84 cents) and closer to 1.00. This will happen all of a sudden almost with amazement and shock. Then the fun begins….
Brenda Lyons
I think this process is very possible. Its not over til the fat lady sings????
AB
Theres a lot of good points here.
I keep trying to show people objectivity. Like…
There are indeed valid reasons to lower or undervalue a currency – or else China would not be doing it!
But I think ppl have an issue thinking it through and the emotions around the IQD are strong indeed. I always urge ppl to focus on the fundamentals. Eventually, it will be HIGHER than the artificial rate range -> to do that the country needs to be able to support a higher rate.
Now it is already at that point. BUT, it has other problems, like needing to replace the dollar. Also better to make a single move than have speculators interfere with a floating rate….
Anyway, it is basically assured at this point unless a dramatic change happens like a war. Ppl need to calm down…
AB
I don’t know if “calm down” is the right sentiment…
But yeah, in the short term ppl need to do that.
More like – see the broader picture that makes this investment attractive and then dont lose focus on small things. Keep the larger context and try to be patient and have some humility.
The world doesn’t move faster because we start feeling more desperate, we’ll just stoke being more desperate.
Andrew
Interesting article here…..
21st December 2020
The Erbil Stock Exchange in Kurdistan Region witnessed, on Monday, a decrease in the exchange rate of the dollar despite the fixation of its new price by the federal government, butthe heavy demand of citizens to sell their savings from the US currency had another effect.
The correspondent of Shafaq News Agency stated thatthe Erbil Governorate Stock Exchange witnessed a great turnout by citizens to sell their dollar, which led to a decrease in its price.Citizen Hamid Othman told Shafaaq News, “We sell the dollar because its price has increased, and we will buy it again if its price decreases.”
On the other hand,the effect of selling the dollar saved by citizens on the exchange rate in the Erbil market has become unstable and less than the price set by the Iraqi Ministry of Finance.”I think the citizens are wrong because the price has been fixed by the Iraqi government, and the citizen should not be quick to sell his savings in dollars because the price has become fixed,”said Karawan Muhammad, who works in the stock market.
Taher Ahmed, the owner of a money exchange office, said,”All those who come to sell dollars are asking for the Iraqi currency from the large denominations of 50 thousand and 25 thousand Iraqi dinars to save it as well.”He adds,
“The decision of the Iraqi Ministry of Finance made people confused, but it is strange that they began to trust the Iraqi dinar more than the dollar,even after its price was reduced, becausethey believe that it is a temporary decision
and we are an oil country and that the price of the Iraqi currency will rise again against the dollar.”
Leliu Swann
They are removing the zeros from the exchange rate, not from the currency itself.
Andrew
Trust in the plan! The CBI GOVERNOR knows what he is doing …look what is happening to the auction results ! 🙂
An unprecedented drop in central bank auction sales
12/23/2020
(Baghdad: Al Furat News) The Central Bank of Iraq’s dollar sales fell today, Wednesday, in an unprecedented way.
According to the bank’s daily bulletin on the currency auction, the total sale for the purposes of strengthening balances abroad {transfers, credits} amounted to 77 million 450 thousand and 994 dollars, and the cash sale amounted to only 200 thousand dollars.
As for the total sales, it was 77 million 650 thousand and 994 dollars.
The central bank’s sales in the currency auction yesterday were $ 113 million.
The Central Bank sells dollars for the sums transferred to bank accounts abroad at a price of {1460} dinars per dollar, and cash sales at {1460} dinars per dollar, in implementation of its recent decision to raise the exchange rate.
The central bank’s sales on Wednesday and yesterday reflect the statements of the Central Bank’s governor, Mustafa Ghaleb, who said earlier that the bank “will double the sale of the dollar to exchange companies,” indicating that “the abundance of the dollar will make it stable in the market.”
Ammar Al-Masoudi
Andrew
Mass demonstrations in front of the Finance Ministry building in Baghdad to condemn the devaluation of the dinar.
23/12/2020
Mass demonstrations in front of the Finance Ministry building in Baghdad to condemn the devaluation of the dinar[Baghdad-Where]
On Wednesday, protesters organized mass demonstrations in front of the Finance Ministry building in the Iraqi capital, Baghdad, to condemn the devaluation of the dinar.
A source said that dozens of people organized, today, mass demonstrations in front of the Ministry of Finance building in Al-Waziriya district in Baghdad to condemn the devaluation of the dinar,
adding that law-keeping forces deployed within the Ministry of Finance after the launch of a demonstration near the Ministry’s headquarters.
Net asset value is now 804 million wow. Both the shares and net asset value could hit 1 billion at this point with how fast this is going .
What a great accomplishment having reached this goal. I’m sure we will be well over this before the end of 2020. Great work Andy & George. Your hard work with getting out information and videos is greatly appreciated. Our family is truly blessed.
ANDY, You and George and Bethany had a heated discussion the other day over what the devaluation might mean. I am going to post something from Guru Mountain Goat. Now, normally I am not a guru person if you personally know me…BUT what Goat says here of the process taking place makes perfect SENSE. What you think? I AM EXCITED!!! Here it is…
Mountain Goat
12/22/2020
Todays news is all about the recent change in the CBI selling rate of the dinar. We must try to understand just what happened and why the CBI did what they did.
From comments made on many of my more recent posts and newsletters, I got a pulse of my audience and what you folks are thinking. I see that there is so much concern about the latest news about how the CBI is now setting the old dinar rate of 1190 (about 84 cents) to 1450 (about 69 cents).
What is the CBI doing?
I know we all expected the program rate to get closer 1.00 from the 84 cents prior to the project to delete the zeros. So, what happened and why is the CBI doing this and doing it now?
The answer is a brilliant move by the new CBI governor and the explanation is multi-faceted. So, I will try my best to explain all the aspects, as told to me by my CBI contact.
Remember by doing this the CBI is cutting out the spread that is made in the currency auctions and money exchangers. So, this is the first aspect.
Next, by having done this it is hurting the banks and their profit margins and the money laundering going to Iran.
Next, it is forcing the banks to invest in other profitable ventures and not get so dependent on the currency auction revenues, which are going to end soon.
Next, what was more amazing is at the same time the CBI also announced they are doubling the amount of US dollars for circulation. Why are the doing this? Shouldn’t they be de-dollarizing and not dollarizing?
The answer again lays in the reason to collect the 3 zero notes. Let the citizens have the US dollars for now. In the future the plan is to set the value of the dinar higher than the dollar. But how will they do this?
The CBI is using the principle of supply and demand. We know that in the past the CBI was restricting the US dollar. Now they are infusing them. So this is going to bring the supply up. Demand price of the US dollar then drops as supply goes up. Scarcity causes prices to go up, abundance causes prices to drop. If this works, and it should, the value of dinar will rise against the dollar as the US dollar drops. Remember the dinar is on a de facto peg to the US dollar. In short, the CBI is manipulating the US dollar to get the dinar to rise.
Defined: The law of supply and demand: Is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price.
Later citizens will be taking the dollar and converting them back to dinar as the dinar revalues. This is a reverse effect. The citizens will then want to take the US dollars and exchange them back to dinars since the dinar will be worth more. The CBI is using the speculators of the US dollar to their advantage.
But here is what we need to pay attention to. This switch back to dinar is going to happen suddenly and without notice much like the devaluation just happened. This is when they will issue the lower denominations and the fun begins. It’s all in the timing.
Do you see the brilliance and strategy of the CBI?
Over the years, and just recently over the last month, we have read numerous articles about the difficulty the CBI was having collecting these 3 zero dinar notes still in circulation. We know the plan calls to collect these notes.
This is a well thought out strategy by the CBI. Haven’t you learned your lesson yet in that NOTHING just happens or is COINCIDENTAL. This is all planned out for a reason and leads to their original plan.
So, the good news is I feel we will see the rate get better than the 1190 (84 cents) and closer to 1.00. This will happen all of a sudden almost with amazement and shock. Then the fun begins….
I think this process is very possible. Its not over til the fat lady sings????
Theres a lot of good points here.
I keep trying to show people objectivity. Like…
There are indeed valid reasons to lower or undervalue a currency – or else China would not be doing it!
But I think ppl have an issue thinking it through and the emotions around the IQD are strong indeed. I always urge ppl to focus on the fundamentals. Eventually, it will be HIGHER than the artificial rate range -> to do that the country needs to be able to support a higher rate.
Now it is already at that point. BUT, it has other problems, like needing to replace the dollar. Also better to make a single move than have speculators interfere with a floating rate….
Anyway, it is basically assured at this point unless a dramatic change happens like a war. Ppl need to calm down…
I don’t know if “calm down” is the right sentiment…
But yeah, in the short term ppl need to do that.
More like – see the broader picture that makes this investment attractive and then dont lose focus on small things. Keep the larger context and try to be patient and have some humility.
The world doesn’t move faster because we start feeling more desperate, we’ll just stoke being more desperate.
Interesting article here…..
21st December 2020
The Erbil Stock Exchange in Kurdistan Region witnessed, on Monday, a decrease in the exchange rate of the dollar despite the fixation of its new price by the federal government, butthe heavy demand of citizens to sell their savings from the US currency had another effect.
The correspondent of Shafaq News Agency stated thatthe Erbil Governorate Stock Exchange witnessed a great turnout by citizens to sell their dollar, which led to a decrease in its price.Citizen Hamid Othman told Shafaaq News, “We sell the dollar because its price has increased, and we will buy it again if its price decreases.”
On the other hand,the effect of selling the dollar saved by citizens on the exchange rate in the Erbil market has become unstable and less than the price set by the Iraqi Ministry of Finance.”I think the citizens are wrong because the price has been fixed by the Iraqi government, and the citizen should not be quick to sell his savings in dollars because the price has become fixed,”said Karawan Muhammad, who works in the stock market.
Taher Ahmed, the owner of a money exchange office, said,”All those who come to sell dollars are asking for the Iraqi currency from the large denominations of 50 thousand and 25 thousand Iraqi dinars to save it as well.”He adds,
“The decision of the Iraqi Ministry of Finance made people confused, but it is strange that they began to trust the Iraqi dinar more than the dollar,even after its price was reduced, becausethey believe that it is a temporary decision
and we are an oil country and that the price of the Iraqi currency will rise again against the dollar.”
They are removing the zeros from the exchange rate, not from the currency itself.
Trust in the plan! The CBI GOVERNOR knows what he is doing …look what is happening to the auction results ! 🙂
An unprecedented drop in central bank auction sales
12/23/2020
(Baghdad: Al Furat News) The Central Bank of Iraq’s dollar sales fell today, Wednesday, in an unprecedented way.
According to the bank’s daily bulletin on the currency auction, the total sale for the purposes of strengthening balances abroad {transfers, credits} amounted to 77 million 450 thousand and 994 dollars, and the cash sale amounted to only 200 thousand dollars.
As for the total sales, it was 77 million 650 thousand and 994 dollars.
The central bank’s sales in the currency auction yesterday were $ 113 million.
The Central Bank sells dollars for the sums transferred to bank accounts abroad at a price of {1460} dinars per dollar, and cash sales at {1460} dinars per dollar, in implementation of its recent decision to raise the exchange rate.
The central bank’s sales on Wednesday and yesterday reflect the statements of the Central Bank’s governor, Mustafa Ghaleb, who said earlier that the bank “will double the sale of the dollar to exchange companies,” indicating that “the abundance of the dollar will make it stable in the market.”
Ammar Al-Masoudi
Mass demonstrations in front of the Finance Ministry building in Baghdad to condemn the devaluation of the dinar.
23/12/2020
Mass demonstrations in front of the Finance Ministry building in Baghdad to condemn the devaluation of the dinar[Baghdad-Where]
On Wednesday, protesters organized mass demonstrations in front of the Finance Ministry building in the Iraqi capital, Baghdad, to condemn the devaluation of the dinar.
A source said that dozens of people organized, today, mass demonstrations in front of the Ministry of Finance building in Al-Waziriya district in Baghdad to condemn the devaluation of the dinar,
adding that law-keeping forces deployed within the Ministry of Finance after the launch of a demonstration near the Ministry’s headquarters.
alliraqnews.com