Dinarland Highlights – 4.21.21
“ADVISOR AL-KAZEMI: FLOATING THE CURRENCY LEADS TO THE COLLAPSE OF THE IRAQI MARKET“
Salih is referring to dangers if they floated the dinar within Iraq using the program rate not reinstating and then floating it as an internationally traded currency on FOREX. The finance committee keeps pushing for an internal float. So what he is really saying is that if they are going to float the currency then first reinstate it and peg it to a “basket” of currencies for stability.
We now have a budget for Iraq. It’s official. This is the first budget I’ve seen in Iraq in my lifetime…that’s extremely important…the main thing is it’s now published in an official public venue the gazette. What’s the rate in that budget?
…1460. It would have been illegal to release the budget with any other rate of 1460…right now the official exchange rate is 1460. Period. End of story…at anytime they can retro the exchange rate back to January first…the CBI is going to change the rate 1 to 1 and the budget will go retroactive 1 to 1 too…the budget is not legal until it is in the gazette. It’s never been in the gazette. It’s in the gazette ladies and gentleman so NOW the change of the Iraq dinar exchange rate is game on!
Because you have an official budget you need an official exchange rate. Who says? The Fab 4…IMO they can now change – again – the exchange rate…
The Kurds sent a message to Baghdad saying you have our approval. We approve the budget now implement it. And that’s a quote. We approve the budget we are now ordering you and directing you to implement it. They didn’t say implement in the next 25 days. They didn’t say implement in 2 weeks. It said implement now. I don’t know what else to say about that…you got to move. You’ve got to do something. You’ve got to go…we’ve never been in this position before. There’s always been reason and excuses of why it hasn’t happened. But now it’s at the doorstep. It’s right there…we’re very excited about where we’re at.
I am very excited. We have never been to this place before. We’ve never been in this position before. We all thought things were happening. We thought this was going to happen but we’ve never before have we been in a spot where we know it’s about to happen. And it really gets me excited…
The CBI and the GOI are now going to put advertisements everywhere. On billboards, commercials on television, they’ll put them in the newspaper, they’ll have pictures of the new small category notes, all of this information and that they’ll be a new exchange rate for this currency …it’s basically down to weeks.
Saleh…obviously said this today for a reason. He’s talking about not floating the currency. He’s in a sense saying we’re not floating the currency but we’re going to do something possibly different…he’s saying that for a reason because this next stage is going to be very short and he’ll need to have communicated what he’s thinking. Sometimes he tells you the opposite…they tell you what they’re not going to do…in this particular case it sounds like he’s got it sorted that…he’s not necessarily going to float the currency…I’m not saying it’s 100% right but the implications is it should be a strong sustainable exchange rate…
The positive news coming out of Iraq is that they had ongoing meetings since Tuesday morning on budget implementation. I am told that once they wrap up the last few details that they will post a rate…it very well could be this week. Exceptionally encouraging.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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