Dinarland Highlights – 6.23.21
[via Guru MarkZ]
…the Economic Reform will be coming through Kurdistan. The Kurds are a model of security and investment. There are many closed door meetings at the CBI today…no media…. Kazemi is going to the US for a 4 day visit… Many roads will cross on the 28th with the World Bank and the CBI…. Now the CBI is giving speeches about lifting the zeros…
The CBI is coming out with a controlled float. This means they are going International. The CBI has full control. Kazemi and the CBI will tell their folks that the new CBI building is all ready…one year ahead of time…it’s modern…state of the art…it’s huge and a reproduction of the Tower of Babel. They did not build this for a lousy rate. It’s more modern then any of ours…. Iraq is paying off all their debts. The education is flowing to all the citizens. Rasheed Bank sets the date for citizens to review the new cards…they are telling us they are changing the rate…The short of it is the CBI is in full control of changing the rate. They are about to show us….
This past weekend much of the attention was focused on two different articles one discusses implement implementation of the delete three zeros or LOP. The other is when it would be appropriate to float the Iraqi dinar. The delete 3 zeros is not a solution it is a neutral event where the dinar maintains the same value but it removes the zeros. This is a common occurrence in many countries that are unable to develop a private sector and have economic growth. Many in Iraq want them to do this…The other option is to build a private sector by passing laws, creating a suitable business environment, and attracting foreign investment. Doing so would allow the economy to prosper and as a result the dinar to grow in value and be a true value based on real economic success…we will have to wait and watch and see if Iraq decides to do the right thing or not…
The Finance Minister [Seleh]…on the 19th [said]…our exchange rate is going to stay the way it is…the following day on the 20th Seleh says the complete opposite. ‘Yeah, there’s a study about the exchange rate…we’re going to change it. It’s not going to be the way it is. We’re going to change the exchange rate yeah. I’m sorry, my bad.’
[Boots on the ground report] Firefly – “It’s on television and the CBI has confirmed its commitment to a stable foreign exchange rate for the Iraqi dinar” Frank – A program rate is not stable. There’s nothing stable in a program rate. It’s extremely fragile…the CBI governor comes out and he tells the citizens of Iraq , ‘We are committed to change the rate’ is what he’s saying...how would you like 1 to 1? That’s pretty stable...
There are many roads IMO that will cross on the 28th of this month – with World Banks, with the CBI…the CBI is now talking/giving speeches about lifting of the three zeros…they ain’t coming out and talking to you plainly by saying ‘oh yeah, we’re going to add value. Oh yeah, we need to lift the value against the dollar.’ No They’re talking point blank…the governor’s speeches have been on ‘lifting the 3 zeros’ not ‘changing the exchange rate’. That was the theme from parliament. They are not going to change the exchange rate. That is not the ‘mechanism’ of the CBI. They told you countless times that they will remove zeros from the exchange rate…
What I am hearing is Thursday is squarely the target day at this point…there was indeed some technical issues between IMF and UST…..to do with some of the smaller US banks that couldn’t communicate with the new banking system…It wasn’t a complete nothing burger…we at least had some condiments on it even if we didn’t have the burger… All my sources think it will happen on Thursday….
The news from my sources yesterday was everything was set to go and release this week. Everything is done and ready to go. Once again we wait the final release to happen…
“Al-Kazemi’s advisor: The Central Bank is able to control the exchange rate of the dollar against the Iraqi dinar“
I remember we used to talk about the exchange rate, why doesn’t the government change it? I said, because they don’t have any say so. They can complain. They can request. But the truth of the matter is the change is in the hands of the CBI. They are totally separate from the government. They’re independent.
There’s talk again about the exchange rate…
“The dollar is falling against the dinar with the closure of Baghdad markets”
It’s slow mind you, it’s tiny increments, but at least it’s going in the right direction…the Central Bank is doing its job. Stabilizing it.
“PARLIAMENTARY FINANCE COMMITTEE WARNED THE CENTRAL BANK OF THE COLLAPSE OF THE IRAQI DINAR AGAINST THE US DOLLAR UNLESS SOMETHING IS DONE SOON.”
The PRESSURE builds to do something “soon”.
Our military intel contact had gotten confirmation at mid-day, like Mr. Fleming’s sources, that at 11:51 am EST today Wed 23 June the IQN went live on FOREX and the other 22 currency rates were also ready to go live for FOREX too by that time…He is confirming that tomorrow Thu 24 June is now “squarely the target day to initiate the shotgun start,”…he said—this RV release will be completed now at all costs.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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