Dinarland Highlights – 4.19.21
The latest issue of the legal gazette which included the budget was issued 12th April and posted to the website today 19th April. Not that it will change anything.
A couple things were happening over the weekend. One- they have agreed to a budget implementation meeting which is occurring as we speak. It started 11 AM Iraqi time. They are going over the implementation of this budget. This is cool because we do expect the rate change. An imminent rate change. I have spoken to a couple of contacts on the ground in Iraq and it is not in effect yet. But they are expecting it at any moment. On the domestic front I do have a couple of key players that were not moved until this weekend…they were to be in place on Sunday-yesterday. I know you are tired of it but hang on to your seats. The chatter everywhere is fantastic.
[Its Ramadan in Iraq- I thought everything was shut down?]
Well, they didn’t shut down this Ramadan…they are still working and things are still going…
I’m not following the budget. I’ll leave it at that… The…next excuse in Iraq will likely be that they need to have elections…Everything going on in Iraq is a distraction in my opinion…There are people who want to wear us out and have us sell our dinar before the revaluation takes place…They want fatigue to set in… if you listened closely I’ve been telling people for 4 years what the minimum rate on the dinar would be. [reference Footforward post 3-31-2021] In my opinion of course. And it’s never been financial or investment advice.
We need to figure out what the hell these [PM Kazemi] amendments are going to be in the budget. I’m curious to see…don’t let people run you rugged…that the rate change was going to be in there. We don’t know. Cross your fingers and hope it’s true but until they announce it then we’ll know…it looks like Al-Kazemi is going to appeal the budget and make some amendments, some changes to the budget. So cross your fingers…we’ll see…
The reality is…they are passing laws for a higher rate. In other words to be able to manage a rate in their own currency. They are trying to pay off as much debt as they can with the value of the currency that they have today so when it does add value they don’t owe as much. They gain that much more…Iraq is doing all these things that supports their infrastructure that is going to add value to their currency – that supports adding value to their currency. That’s how you know. No country on the planet is going to tell you they’re adding value to their currency because it would literally stop the supply times velocity…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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