Dinarland Highlights – 9.4.21
Firefly Boots-on-the-Ground Statement:
“This is going to cause a problem with speculators to buy a lot of dinar if they show the new small category notes first and then later the exchange rate.”
The CBI is in full control of their currency and monetary reform and their exchange rate. They have already stopped selling the Iraqi dinar. Why do you think it’s so hard to get it. They stopped selling it to the wholesales over two years ago…the CBI knows exactly how much is in the broker’s hands/vaults.
The Central Bank of Iraq tonight in the news stated that they’re going to be changing the exchange rate of the Iraqi dinar. It seems like they were talking about going from 1460 to 1450 in an attempt to encourage investment. Not the kind of significant RV people are wanting…The change does not seem to state the new rate but it mentions the current rate of 1460…
…Guru Pimpy needs a lesson in mathematics. He thinks Iraq can pass Kuwait’s exchange rate. Kuwait only has about 40 billion dinar in circulation, while Iraq has well over 45 trillion. They either need to significantly reduce the currency in circulation via a float over time or they would have to LOP/re-denominate as I’ve already mentioned reducing trillions to billions.
…Welcome to September! Yes, we are off to a VERY GOOD start as things are really progressing in Iraq… the Finance Ministry (part of the GOI) wants currency reform…Sounds to me that the Central Bank of Iraq (CBI) may be considering launching yet even lower of the lower denominations in the coming months.
Will they just launch all the rest of them or just the 2 notes in sequence 50, 100? How can they unless they increase the rate of the dinar or the notes will be literally “worthless”…
“Floating the currency is fully or partially liberalizing the currency exchange rate”
They are not fixing the exchange rate. They’re letting the exchange rate go on to whatever market price that it settles at. Free market basically. Amazing…1. They changed the exchange rate and 2. Now the exchange rate is floating.
Word is starting to filter down from higher posts that notifications are becoming more expected to be seen over this weekend with the hopes exchange appointments will begin Tuesday or Wednesday of next week…So my guess now is that if they go on Tuesday, we may go on Wednesday or at the latest maybe Thursday of next week. The guy that shared this with me says it’s from sources higher up then his position and he was quite positive about this news.
The last couple days have been a whirlwind…….i’m pretty excited and think we are that close.
It’s looking good. The more Iraq keeps taking a leadership role opening up to the international community, getting away from relying so much on oil, open up the private sector. This is good. I can’t stress this enough It’s going to be really hard for Iraq to rebuild its country when the value of the dinar is so low. The cost of importing things from other countries are going to get really expensive. They don’t have anything to export so there’s no need to want to lower/devalue currency…everything is looking groovy.
“Iraq and the United Nations sign a framework for joint cooperation in a number of fields”
…The timing is very interesting. Tomorrow morning the meeting is to take place and two key components within the frame work are the development of the private sector and the government reform plan within the white paper…If there are any other shackles holding Iraq back from getting into the private sector, it may very well be done with post tomorrows morning meeting. I recall the UN has had a hand in Iraq sanctions since 2003. Many were lifted. Is this meeting about the last sanction left, the devalued currency since the last war? I am not sure but, the timing looks perfect.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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