Dinarland Highlights – 1.6.22
I am hearing our turn is anywhere from late this week to the 15th… I contacted 3 different Iraqi contacts, and they are expecting between the 9th and the 15th. I’m not saying it can’t happen sooner…just what they expect right now. I am not ruling out this week at all.
News out of Iraq is still very positive. They are saying lower denominations are prepared and they want to change the rate. It could be anytime. I am still hearing from Iraq it could go before the 9th… Don’t be in the doldrums today. We are going to get across the line. Wish I had more for you but it has been very quiet. The quiet before the storm???…the dark before the dawn???
[Is it true the dinar is currently at $6?]
I am not seeing it at $6. My banking folks are seeing it fluctuate right now from $3.81 as high as $14…but we do not know what the final rate will be. No final rate is locked in yet….
[Iraq boots-on-the-ground TV report]
FIREFLY: There is a rumor that the exchange rate will go down from 1460 to between 800 to 1000. That’s the rumor that’s going around between bankers. We are not sure. We just heard this. He said it would be a process…
FRANK: …This is a rumor. He’s right. IMO...
What the governor of the CBI is telling you [Iraqi citizens] is that right now you have a fixed rate but it stinks. It’s a program rate. It’s worthless. Now, soon the Iraqi dinar will de-peg from the American dollar and go on par with it at a fixed rate of 1 to 1 internationally. It is at that point where the global communities will buy, trade and sell in using the Iraqi dinar causing it to go up in value like the other middle eastern countries around you.
I believe you are going to hit a high $3 or even possible low $4. In other words a rate of 3 to 1 or maybe 4 to 1 internationally which would reflect inside of your country as well…IMO you are going to float the moment that they announce that you are clear of Chapter 7 and Chapter 6…because you already paid Kuwait this announcement is coming.
The election is done, over with, finalized. We have the first session coming up. We have talk about the rate change happening. No numbers are being thrown around. My thought is they’ll at least restore it back to where it was before…from 1450 dinars back to 1190 dinars. I know for a lot of people they’re like, ‘oh that sucks. That’s not what I wanted.’ As long as it’s going in the right direction be happy. As long as they continue down the path follow the white reform papers it seems to me that these increases are going to happen frequently and at a much bigger chunk than that little jump right there…
It’s the CBI that has responsibility for the rate. Set that whole thing aside about forming the government…the first thing they’re gonna do I think the leadership is to go right after the budget…get it knocked out…the budget needs the rate…at this point in time we’re just waiting for those nice little notes to show up. That’s what we’re waiting for…and with that obviously would come the rate…
…after having met the obligations of compensation to Kuwait, there will and should be that Iraq will be able to interlink global banking and with that comes and international rate to be applied. The banks are now closed until Sunday in Iraq, if I have that correct and there are no new holidays? lol Add in, the UAE is to link their monetary, governmental and financial work week with the rest of the world tomorrow. …So, it is my view that there may still be opportunity for us to see this over with by and or over the weekend into early next week, imo.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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