Dinarland Highlights – 2.27.22
…While we wait for our event of moving back to FOREX, we are going to hear lots of news on the project to delete the zeros. This is our sign they are finally serious. I believe this must come next...We don’t care about the program rate inside Iraq that was meant to be temporary and is way, way overdue to be reinstated…The current rate of the Iraqi dinar is a FAKE & SURPESSED “program” rate and does not reflect the true and honest VALUE…we are waiting for the time when the TRUE and HONEST VALUE of the dinar is reflected in the rate assigned to it.
“How does 1190 or even 1000 [rate for the dinar] give the people more purchasing power?“
The Iraqi people lost 260 dinars [1190 to 1450] in the rate change compared to what it was before…21.8% of their purchasing power was lost…although to you, you’re like ‘This isn’t purchasing power! This is nothing!’ …If you’re living in Iraq and you’re trying to budget…and you’re not making that much, an increase of 21.8% would be a huge gain to you…the difference between the old rate to the new rate was a loss of 21.8% of their purchasing power. Bringing it back to the original 1190 would give them back 21.8% of their purchasing power.
Let me put it another way…Let’s say you’re making $1000 a week and then all of a sudden they take away 21.8% of your check. Now instead of getting $1000/week you get $782/week. See the difference? …You’re not looking at it through the eyes of an Iraqi person who actually lives off the dinars…somebody takes away 21.8% of your money now you’re only making $782 you would notice that. You would be pissed off. Imagine they gave that back to you. How happy you would be. What could you do with $218 more per week? …to you the change from 1190 dinars to 1450 is no big deal so if it comes back to 1190 dinars it’s still no big deal to you but it is if you live in Iraq and you live off of the IQD…
We know there’s a lot of chatter going on. We’re monitoring it. We’re paying attention. I still think it’s just going to go up in increments. There’s a lot of meetings going on. Parliament is meeting. We’re still waiting to form the new government. It’s kind of hard to get anything taken care of when there’s so many delays in there without a new government…But there definitely is a lot of talk about a rate change…there’s definitely something that’s going to happen in 2022. Will it be an RI or an RV? It’s very possible…IMO it’s gonna happen in increments…let’s keep an eye on it and see what happens.
“Iraq aims to shift investment priority from oil to gas sector, minister says“
This has quietly been sitting at the bottom of the news feed for a little over two weeks. Iraq is taking to heart the recommendations to diversify the country’s industry income…natural gas…it looks like Iraq’s decision over two and a half weeks ago to start exporting gas is right on time.
Kazimi told us we’re going to have a new exchange rate as soon as you seat our government.
Where’s our government? …the citizens…peacefully protest…to get the message to parliament, sit the government down. Unfortunately in the Middle East it takes a long time to do anything. I don’t know why...
“the economic expert, Sabah Alo, called on the government to take a decision to float the Iraqi dinar, similar to the Egyptian experience of floating the pound.”;
“It is better that a decision be taken to float the Iraqi dinar and stop selling the currency at auction and the Central Bank of Iraq,“;
“The core issue to support the dinar is the presence of local productivity“
The dinar…may go up in value, but it will never significantly overnight RV.
Kuwait and China did something similar when they revalued currency…they told us they were weeks or months from an RV…then “BAM” it happened within hours…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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