Dinarland Highlights – 2.8.22
[So they are kicking the can again?]
I don’t think they are kicking the can…I think the schedule is set and its playing out. I think it appears to be that way because we do not know the timing.
[Whats going on with Iraqi elections?]
They are back in session for the next 3 days. So any concern they were going to kick the can were needless. They only have so many days to decide on the new president. If they do not choose a new president in this allotted time- the old president will stay in place for the next 4 years. We can quit worrying about all the political games in Iraq…they are still very adamant they will soon have a new rate in place for the new administration. Most likely by tomorrow…so cross your fingers and say your prayers that we are within days of all of this happening.
“FINANCE: THE ECONOMY HAS BEGUN TO RECOVER AS A RESULT OF THE REFORM STEPS IN THE WHITE PAPER“
Again I will add that the “White Paper” is what is going to get us the RV.
The governor of the Central Bank of Iraq is in control of the monetary reform doing a wonderful job with all the banks inside and outside of Iraq. The IMF and the World Bank are extremely happy with them. They got no problems. The reserves that back up the new exchange rate and the new currency are astronomical. The float which is going to depend on the prices of oil…is at $93. So everything is on course as far as I’m concerned…if you’re impatient there’s nothing I can help you with…
[Iraq boots-on-the-ground TV report]
FIREFLY: The CBI is telling us that it is their priority to change the exchange rate back to the previous rate.
…if they were going to move back to 1190 they would not be waiting for any seating of the government. They would just go back to the program rate 1190. This alone says something is up…it seems that they are going back to the ‘glory days’ not to the program rate.
FRANK: Mathematically it will not work at 1190 so yeah they’re talking about the ‘glory days’ rates….
A lot of times when people are having discussions or debates about what the Iraq exchange rate is going to be one of the things that pops up all the time is ‘it’s really hard to do a rate of $3 because there has been so many dinars created. It’s in the trillions. And because of that you’re not going to get the rate that everybody’s thinking.’ But I went through and read several articles and shown that they’ve taken a lot of that currency out circulation. How much altogether is more of a guesstimation…we find more news about dinars that were damaged or taken out of circulation…$343 million dollars worth…It’s out of circulation. We want that.
Why do we keep talking about Iraqi oil…? It’s because we are hoping the massive oil revenue in U.S. dollars will help Iraq to fix the country’s domestic issues and then revalue the currency…
“Postponing the election of the President of the Republic after the lack of a quorum“
Unfortunately, I am not surprised by this….
…The Dinar’s International (starting) rate will be $3.20 and float up along with the price of a barrel of oil, till it reaches $120.00. At which time we’re told the rate will be maintained at $3.20 US. We understand that Redemption Exchange Centers are all geared up to start Tuesday night. Certainly Wednesday will see some exciting announcements. Are we Ready, Willing and Able? You betcha!
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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