Dinarland Highlights – 11.8.21
[Rates on the dong?]
I am still hearing our rates will be around $2.25- $2.50…. I hear it will be a fixed rate but we have seen bank screens where the rates vary greatly. We have seen rates go to $4 and up to $7 or $8 on bank screens. Most of my bankers believe it will be in the low $2 range when we go in.
A number of key people including the Iraqi Prime minister were targeted last weekend. IMO this is the last ditch effort to derail everything…because things are all coming together.
News is really good…just kind of at a loss to what I can and cannot share…I was given some information I cannot share that makes me feel very confident… we may get the news this evening we have been waiting for…I have been told Iraq was moving forward today doing “tests” in key areas with lower denominations in ATM’s. This is exciting guys. A lot is coming together. Hopefully we will have phenominal news by tomorrow… I am hoping and praying.
They have over 60 billion in gold reserves. That’s not even…the USDs. The revaluation of the Iraqi currency has so much potential. It’s insane the potential that Iraq has. The reserves that they have and the gold that they have it’ll cover the new exchange rate with no problem whatsoever. They are primed. They are ready. They’re teaching the Iraqi citizens this is what is about to come out to you. It’s no secret…no doubt about it is extremely exciting…
You may say, ‘Oh…as soon as Kuwait is paid off we’re going to see the monetary reform of the Iraqi dinar.’ I would say to you, no. You don’t need to pay off Kuwait in order lift the value of your currency. You need to pay Kuwait in order to be lifted from the sanctions and those sanctions are a tangibility of why they haven’t raised the value of their currency. Even though they are not directly related…they certainly are indirectly related…all that is being done to allow Iraq to lift the value of their currency is before us and it is just extremely exciting…
“Al-Kazemi receives Al-Abadi and confirms: We are proceeding with the reform project“
Enough said...Show time…The looks of it is per the PM is that we are proceeding with the reform project…In other, words, thank you for all of your GLOBAL SUPPORT!! Be rest assured your investments in Iraq are safe, stable and secure and we are moving forward with the reform project…imo.
…The IMF clearly stated in the Article IV Consultation from 2013 with Iraq that…”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,…”
Floating the dinar would give the CBI a mechanism to allow the currency to gradually appreciate to counter inflationary pressure created by investment and growth in the economy. It also would give them a mechanism to remove the dinar gradually from circulation as the dinar appreciates in value. This IMO is the only way I can see them significantly reducing the money supply. The alternative is a re-denomination (LOP).
Though none of us want to see them re-denominate/LOP, it must be known there are various colleges in Iraq hosting seminar / symposiums on the subject. So as dinar investors we should all be aware a re-denomination / LOP is a real possibility. What that means is the IMF is encouraging Iraq to float the dinar. Not RV the dinar.
…right now it’s better to still remain quiet…I’m hearing positive news and that is all I will say as to not disrupt the process.
“Iraq pays $490 million in war reparations to Kuwait“
Iraq has lived up to its obligations and paid Kuwait over 490 million in war reparations…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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