Dinarland Highlights – 10.23.21
“AL-KAZEMI’S FINANCIAL ADVISOR TALKS ABOUT CHANGING THE EXCHANGE RATE”
…this article does not tell us what they mean by changing the exchange rate. Could this mean back to the pre-devaluation program rate or the RV we are looking for?
…anyway you look it, the news is very good. We know that under Dr Shabibi the monetary reserves of Iraq reached $90 billion. …they have reached a record high and so they must be over $90 billion reaching close to $100 billion. If oil continues to rise, as they project it will, Iraq will reach over $100 billion in reserves...
“The Minister of Oil sets the price of a barrel in the budget and expects crude to reach $100“
WE TOLD YOU IT WOULD BE $100 PER BARREL…
“For the second day, the dollar exchange rate fell“
That’s right the dollar is losing ground on Iraqi dinar but it’s not like it’s huge leaps and bounds. They’re very small but the dollar is becoming weaker and Iraqi dinar will become stronger…
People talk about the contract rate. I’m not a financial advisor…make your own financial choices…Here’s my thought with the contract rate…I’ve heard some people say that, ‘Oh when you exchange your dinar there’s going to be a contract rate of at least $30.’ I’m like – huh? …IMO $3.22 for the dinar. That’s what the Iraqi dinar is worth based on that particular country’s assets and wealth…If [the rate is] $3.22 how can someone get $30? An exchange rate is an exchange rate. Who’s paying out the difference…I’m not trying to burst anyone’s bubble. That’s not my intention…I think the rate is going to come out at the rate it’s going to come out at and I don’t think there’s going to be a contract rate. My opinion only…
At this point I think things are moving. I think we are in the process now and we have started. I am very excited about what I am hearing. Some of the specifics I cannot share without getting somebody in trouble…so I am not going there. Just suffice it to say I am very excited about the chatter I have heard this morning and late last night about the movement.
“When Iraq puts value on its currency will it start out at .40 cents, .50 cents? I’ve heard they want to get it to a dollar.”
That’s exactly what they want to do. At a minimum they want to get it to $1.17. Remember parliament, The Ministry of Planning, The Ministry of Finance wrote a letter to the IMF – ‘can you help us get our currency back to $3.25’. ‘Absolutely we can help you do that.‘ But it’s a process…the .50 cents and above – where that came from is what do they need to have a GDP that can maintain the country and help it grow at a healthy 4% per year and…help expand their markets. At the point I was doing that math (it might have changed a little bit) it was like .58 cents. The best math we could come up with.
Things were slowed down to do some work arounds but all is on track now. Things are moving and all are readied for the release at our level…
SOME MEMBERS HAVE BANK APPOINTMENTS FOR “TODAY”, SATURDAY! THEY’LL KEEP ME INFORMED ON WHAT TRANSPIRES.
Member snicker “So I lost 25 k? Who cares? It wasn’t my money anyway. Hehe” The dinar has value. It is not a lottery ticket therefore it is not worthless. Hopefully with the success of their economy they will raise the value but it’s going to be overtime.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we’ll forward your request to the author.
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2021 Dinar Chronicles