Dinarland Highlights – 10.6.21
The Ministry of Finance announced…Tuesday, that the highest foreign currency reserves in Iraq since in 2014 when they amounted to $82 billion. So, they are now over that amount…They are probably reaching about $90 billion? Then in another article…they tell us that the monetary policy of Iraq depends on the amount of foreign reserves supporting the Iraqi dinar, that is, the efficiency of the reserves and their escalation towards safe lines…we have been watching the amount of reserves all along as a positive sign of moving towards getting the project to delete the zeros accomplished. So this news today reinforces our hopes.
The really huge news this week is that the central bank of Iraq last week issued new instructions to banks and exchange companies and brokered the sale and purchase of foreign currency licensed. These instructions aim to strengthen the role of the banking system and non-banking financial institutions in securing foreign currency…To me it sounds like they intend to stop the currency auctions and proceed to other means to exchange foreign currency. Other means to pay for imports.
They can only do this if they are able to use the dinar, not the U.S. Dollar, in the purchase of imports. This can only be done with the agreements they have made in the recent past with other countries to accept each other’s currencies…These new instructions are pushing the banks to take alternative measures for revenue generation away from the auctions…Will they decide to use the Iraqi dinar in place of the U.S. Dollar in trade? Can they do this? If they do this the rate of the Iraqi dinar will skyrocket. Seems to me they may be heading in this direction.
Now if the Biden Administration does get what they want and if they do limit our retirement accounts to 10 million dollars this could be a problem Houston…The way around that is your IQD is sitting in your Roth [IRA], you can always pull those notes out because there’s no taxable event to pull those notes themselves out and put it into a CRUT (Charitable Remainder Unitrust). That’ll take that limitation away. You’ll still get money out of that which will be marvelous…
…because they [Iraq] are Article 8 now they have the mechanism…it’s a tool given to them by who? The IMF. To do what? To leave their border and to allow the currency to go up in value. Investors of the Iraqi dinar would you like that? …The evidence that they are Article VIII is that they are using the mechanism to raise the value of their currency…
“Adviser to the Prime Minister: Offering and selling government bonds to move idle money”
Doesn’t that look like a nice stack of – I don’t even know what denominations those are. [See photo below] I have a feeling they’re the bonds themselves because the article is about bonds…I’ve been staring at them trying to figure out if those are a denomination of some sort. But if they are they’re definitely the lower ones. It looks like maybe the tens. That’d be weird for them to be handling lower denominations since they have, oh I don’t know, zero value at the moment! Are they showing us something? Is this a hint?
…This is probably an old picture, if not it looks like they’re pulling out the lower denominations. You never know because they keep talking about the exchange rate once again…
I am very much expecting it at any moment…at this point I know we are very close… in Iraq they are still in the waiting process. The news I got from a contractor over there is they are expecting to be paid in all new rates on October 15th over there. They are expecting the RV at any time over there…It could be 2 minutes…it could be days.
One thing we do know according to the Iraqi Minister is they plan on unplugging it [the dinar] and letting it float and the IMF has been pushing them to establish their new rate. We know we will see a change in value over there…not even a question. It’s written all over their news and written all over the world news. We just need to watch it all play out….
Bruce (The Big Call)
…everything has been very quiet…but usually we have to regard that as “good news” – no news is good news – and in this case that seems to be good for us…So we did find out a little bit more here and there – I would say that the Iraqi Dinar has been put in a position where it is trading now on Forex and going up in value and it will be put out but its still not out publically yet – But they will not do that until we get started – by that I mean – we get notified… So I feel as though if we don’t get anything unusual or another monkey wrench thrown in the mix here we are good to go – I really believe that – so we’ll see how that manifests to us…
CBI Document “Instructions for buying and selling foreign currency for the year 2021”
We’ve got intel with documented proof gets me excited! …but we’ve got to be cautious of intel…we don’t want to get our hopes up but at the same time we have a documented stamped CBI document saying it’s going to be reinstated on the international market on…I looked at a calendar – October 17th is a Sunday…it’s a very real possibility. Is it possible? Is it here? We’ve been waiting a long time…it’s right on the Central Bank’s website. A date. If what it’s saying is what we’re interpreting as…it’s huge.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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