Dinarland Highlights for December 10, 2021

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Dinarland Highlights – 12.10.21

BobTheTaxMan

What is a taxable event?  Without tax planning these taxable events can completely rob you of your financial security.  If you end up losing 40% to 50% of your gain you know you just shot a great big hole in your financial boat..It’s not necessary at all…Here’s the scenario – …The announcement has been made.  You run to the bank and you exchange [Your IQD] right there.  You get it in dollars and you get it immediately.  What that does because it went…from the bank to your hand, that was a taxable event.  Therefore you’re exposed it to ordinary income taxes – the highest rates possible…

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Fleming

The latest word from Iraq is that their in-country rate for the Iraq Dinar will be RV’d this coming Sunday Night, December 12, 2021. The new IQD value, in-country, is going to be 4.81.  The international FOREX Rate will start at $11.90 and float from there.  We were under the assumption that this would be handled by today, and this is now explained. The IMF has been the problem with the delay of the IQD RV. Iraq has their agenda though and the IMF have agreed to the new plan.

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Petra (KTFA)

Article:
Economist on the 2022 budget: It will address the fiscal deficit and debts owed by Iraq

incredible article…Talk about a potential “strategic” leak this article says MANY things

1. Quote:
it is expected that next year’s budget will reach the limits of 90 billion dinars,”

Well wait a second…I thought they did all the calculations in “TRILLIONS”.   I checked the translation…it indeed says “Billions”.   Has something changed?

2. Quote:
the value of this budget will cover the financial deficit and debts owed by Iraq , in addition to securing the salaries of employees in full.

…This can only happen when the country is “sovereign” and working under Article 8 of the IMF and “FULLY” international…!   Folks, these are not Typo’s!  Their words… and strategically given out…IMO.

Article:
Economist on the 2022 budget: It will address the fiscal deficit and debts owed by Iraq

Quote:
3% of Iraq’s oil imports will be released as a result of the zeroing of Kuwait’s debts, as well as the zeroing of the deficit during the past year, in addition to recycling part of the surplus for the next year,”

ZEROING of Kuwait ‘s debts as well as ALL DEFECITS of 2021 AND the budget will have extra that they will roll over to the next year!  So you have to ask the question… Kuwait is paid…and ALL other deficits will be paid off this year!  AND, they will have a surplus for next year?   WHAT IN THE WORLD IS IN THIS BUDGET?

SO, if they are “intentionally” leaking this information about the new budget and reflective of a new rate…this truly is…ANY DAY!!!  IMO…

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MarkZ

[via PDK]

Last night was one of the slowest news nights I have had…I have not heard anything negative though…The folks in Iraq are still queued up…thinking at this point it may be Sunday or Monday.  Redemption folks, as of this morning are still being told they are working this weekend. We are keeping an eye on that one.

…I talked to a couple bankers who were seeing over $2.30 on dong. That is exciting…we don’t know if these are the actual finishing rates or whether they will be placeholders. But we are seeing changes on rates again. This happens every so often…This may be them getting prepared…priming the pump. I am excited seeing those dong rates exactly where we expected them to be… around the low to mid $2 range…The dinar was the mid to upper $4 range. I still expect it to be a higher rate on the dinar specifically. It’s exciting that we are seeing them now and they are being discussed openly among banking personnel is big news. …I am hearing everything set as far as timing and rates. So I am thinking…it could happen very early next week. This is just my gut feeling. Nobody knows until we are finally across that finish line.  I think the can kicking is done.

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Frank26 (KTFA)

[Iraq boots-on-the-ground TV update]

FIREFLY:  The big news we’re seeing right now is that the United States treasury has stopped the automatic withdrawal of the money from the oil profits to Kuwait to pay for the compensation.  They’re saying Iraq through the CBI will make the final payment sometime before the end of this year.  Then Iraq will send a special request to the United Nation for Iraq to officially be removed from Chapter VII.  All of this will occur before the end of this year.

FRANK:  Everything seems to be pointing to either just before the end of this year or at the very beginning of next year.

Article:
Washington stops the automatic deductions from Iraq oil revenues to compensate Kuwait

That is so big…they need to make the official announcement they’re Article VIII but look – Article quote:
Iraq should seek to get out of the provisions of Chapter VII of the UN Charter”

there’s only one banana peel left and Kuwait has just said that they have been compensated.  It’s time for you to catch up United Nations…

Article:
The Central Bank of Iraq announces the suspension of the automatic deduction of Kuwait’s compensation

Whoa wait a minute.  They owe [Kuwait] money don’t they?  Not anymore… this is impressive because this is what’s definitely considered the final countdown.

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Pimpy

The announcement of the new government should be finalized here any day…Sadr…did say he wanted to do something about the rate.  He absolutely said he wants the exchange rate to change.  Keep in mind that’s the central bank’s move.  How much influence does he have over the bank because…they’re two separate entities…the government can campaign for the change but they really have no control.  We know Sadr wants the rate change to happen.  So just give it a chance.  Give it some time…

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Kaperoni

Don’t let these delete 3 zero stories confuse you. There are many people in Iraq who simply want to redenominate the money supply from trillions to billions which is a neutral event. Not what we want.  One thing I told Iraqi investors many years ago was that the dinar will never significantly go up overnight. If it goes up in value it will rise gradually via a float as Iraq’s economy prospers. There are no shortcuts.

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Mountain Goat

Article:
IRAQ WILL LEAVE “CHAPTER VII” IN EARLY 2022

…Iraq still owed war reparations to Kuwait and if you looked at the Chapter VII sanctions…it included reparations to be completed to Kuwait prior to full relief from Chapter VII.

finally Iraq is allowed to move ahead. Will the CBI actually request to reinstate the dinar in early next year 2022. I am told they already requested it and it is underway.

Article:
ECONOMIST: OIL PRICES WILL RISE TO $100 .. AND THE 2022 BUDGET MUST BE A QUALITATIVE BUDGET THAT MATCHES THE EXPECTED HIGH REVENUES

I will add that if oil prices rise to $100 we may very well see the IQD rate initially at over $5.

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Bruce (The Big Call)

[via WiserNow]

we have been told by several sources that this could go at any minute… it does look good and we have a window…that would take us theoretically…to 4 PM on Saturday… I think we could extend this all the way to Sunday

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RayRen98 (TNT)

Thursday bank source sees the following rates on the screen…Dinar $4.47; Dong $2.37… Friday bank source sees Dinar at $4.98…says they have been “waiting” for it to go LIVE since Wednesday…It is believed that the screen rates are very much “subject to change” once they go LIVE!

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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