Dinarland Highlights – 4.30.21
Guru sandyf wants to get into a discussion with me about floating the Iraqi dinar…read the IMF Article IV Consultations…quote from the IMF Article IV consultation of 2013:
“14. The de facto fixed exchange rate has served Iraq well. The authorities agreed that a stable nominal exchange rate provides a valuable anchor for inflation expectations in an uncertain environment, and intend to continue implementing this policy for the foreseeable future. In the medium term, staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation while keeping domestic inflation low.”
In plain English the IMF is encouraging Iraq to get off the peg and move to a float to allow a predictable and gradual appreciation over time as the economy grows. They are not talking about devaluation.
Bruce (The Big Call)
…We know the QF System is working like a charm…and I think that from a physical point of view everything is set and ready to go – We know that we had rates come in on both the Dinar and Dong at really strong rates… I know a few days ago that they were looking very good and we should be in great shape…
…there are certain individuals that I know are on high red alert…anybody that is on a high alert is getting ready to do something – either to be paid or to exchange or both…the best I can tell – they still want to get us started this week – and this week takes us through Saturday…we had heard Thursday or Friday…but now I believe everyone in the community now more or less has added Saturday into the mix… I want to be able to tell you it’s an absolute but you know as well as I do this is one heck of a moving target – we have to track it… most of the banks…have clammed up – they are all quiet – we’re not getting any information at all from our bank sources and some of it is coming from other sources but it’s looking like this thing should happen either [Friday] or Saturday...
Don’t forget what I told you. You asked God to bless you with this investment. So God says ‘Get in the car! I’m going to drive you to the investment.’ And you’re sitting in the back seat but every 5 seconds you tap on God’s shoulder, ‘Are we there yet?’ And God’s like, ‘Really?’
The news I am getting since yesterday morning is that more and more groups …mostly church groups and groups tied to the sovereign platforms have been updating paperwork…. I have had a number of reports come in on this yesterday afternoon. I think this is a good sign…they must be hearing things are imminent or they would not be jumping through those hoops. My banking contacts at redemption centers are on call over this weekend.
There’s good news…
“Parliamentary Finance: High oil prices will eliminate the need for loans“
That’s right clap your hands! Thank God. Seriously. We don’t want Iraq taking loans out because then you become beholden to the lender. Whether it’s the IMF or the World Bank or China...
“…high oil prices will cover the operating budget deficit without going to internal or external loans.“
What does this mean? If you’re able to cover the deficit, able to get back on track, you’re implementing new programs, well maybe you don’t need to wait 3, 4, 5 years for a rate change. They’re recovering a lot faster than people think. This type of news is good.
“What are Iraq’s currency financial policies?“
They’re asking this for the sake of IQD. Their [Iraq’s] number 1 policy right now is to get companies and countries into Iraq that want to do business and then at the same time they’re lowing their debt. That’s the one-two punch. You all know they want to add value to their currency…
Watch policy and guess what? You’ll find out this whole thing is clear as a bell. Iraq is going to revalue. They’re going to add value to their currency and there is no threat to it…I don’t see anything negative going on at all...It’s very simple they want to add value to their currency. They’re trying to find a way to do it. Remember it’s an artificially devalued currency. They need to find a way to maintain the rate they come up with. There’s more than one way guys…
“Officially…Finance publishes instructions for implementing the 2021 budget“
[…TODAY A RAMADAN HOLY DAY THE BUDGET INSTRUCTIONS ARE PUBLISHED… WHAT IS NEEDED THEREFORE TO IMPLEMENT THESE INSTRUCTIONS?…]
There are things that will need to be implemented in short order. The MR process has not come this far to not see what we want.
The word is things are in motion and moving…So just because we do not see it at our level yet does not mean things are not happening. They are happening and it will gain momentum and speed up the process. We are in a place we have never been before so just a little bit longer. The cake has all the ingredients in and it’s in the oven baking.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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