Dinarland Highlights – 12.24.21
In Iraq there is news that the dinar is going to soon be redenominated. This means the project to delete the zeros will be conducted soon, if all goes according to schedule. I suspect maybe in early January. We will see the reinstatement shortly afterwards after the CBI monitors for inflation and corruption of the first step. Earlier this week the CBI had long meetings with representatives from all the chartered banks to review the next step of the process of the redenomination. I am told they even showed them the newer notes and fils. But what can we expect as investors? We can expect nothing until the dinar is reinstated on FOREX and as we know the redenomination is the first step in this process…
[Iraq boots-on-the-ground TV update]
FIREFLY: They just announced to us on television the cancellation of any and all deposits or any withdrawals from any of the private banks in Iraq. They said this is gonna start tomorrow.
FRANK: Which is today.
FIREFLY: …until Monday. And all banks will be closed here on Sunday. The reason given was for some annual maintenance to pay account interest and do annual reports.
FRANK: These reports…are always done in the first quarter of the following year. For them to tell you that they’re doing annual maintenance, to pay accounts of interest and do annual reports is impossible because the year’s not over with yet. That may be true to a degree but it sure creates a window of opportunity for the monetary reform doesn’t it.
FIREFLY: Talking about how Iraq will rebound after being released from Chapter 7. Release being made by the end of the year is what they say.
FRANK: That’s what they say. What did I say? They are already released from Chapter 7…Once they announce it officially through Kuwait, look out.
FIREFLY: They are now saying they want all the currency off the streets as much as possible. They started talking about exactly how much currency they have out. They mentioned the process now is to retrieve the currency in so the lower notes can exist in the marketplace.
…The good news is all is operating smoothly and finally we can proceed forward…We could still see the final release today and that is truly the Christmas miracle! Unfortunately you will not get your notifications till after Christmas! It seems that finally the major issue has been resolved once and for all!
I am hearing that things are still moving forward this year. They have not pushed things out any further then a few days from when we thought we would get notifications. I have big anticipations and want this over as much as you do.
Their economy is doing very good. Oil prices are still pretty high despite the drop. As long as they keep using the currency [dinar], the place stays stable, there’s no civil unrest and we start developing the private sector, the fact that they’re out of chapter 7 or getting there, all these will add to the strength in the dinar…they really should reinstate the dinar to the previous rate of 1190 dinar. That would make them [Iraqi citizens] feel a whole lot better that’s for sure…I think it’s worth it to gain confidence in the dinar…
Nader From The Mid East
It’s not going happen before Christmas. It’s not gonna happen this weekend. Don’t listen to all these people tell you yeah it’s gonna happen this weekend…I have nothing against anybody…Hang in there. Be happy. Happy holidays. I hope today the council they come out and they go, ‘Hey Iraq is good – completely out of any restrictions.’ And that’s it.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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