Dinarland Highlights for February 28, 2022

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Dinarland Highlights – 2.28.22

Mountain Goat

The budget is just a budget. It is money allocated to projects. The funding can be converted at any time. What they do need is the price of oil to know the amount of revenues to expect so they can then decide on what they can afford in the budget to spend. Get it? Then, they base the budget on the price of oil to know the projected revenues. This is not the RV rate, get it?

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Jeff

Iraq’s news has been very interesting over the last few weeks.  The government has put a huge emphasis on the exchange rateDoes Iraq mean restore the exchange rate to its previous devalued rate of 1190 to simply reduce inflation?  Or are they talking about putting it back to international values greater than zero

tomorrow [Monday] they’re having a session of parliament meeting with the Minister of Finance to discuss the exchange rate…even though they’re going to discuss the exchange rate, they are ruling out a decision to reduce the exchange rate of the dollar…If this is the news [the ruling out decision]..none of this news is truthful.  None of it’s accurate

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MarkZ

[via PDK]

On the Iraqi front is one of our best indicators on timing right now…so many articles about going back to the old exchange rate and how they are going to deal with it…They are also trying to get their government sat this week…Huge things going on in Iraq. Buckle up…we don’t know the exact timing but big events are happening right now.

Very encouraging news out of groups today. They are in a mad dash to be ready. Iraq is moving forward with sitting the government and approving the new rate. That is what I am being told …that this is imminent.

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Pimpy

Article Quote:
“…parliament will hold a session tomorrow Monday to discuss the dollar exchange rate and the presence of the finance minister…

They’re going to be discussing the exchange rate.  We’ll see what comes out of it…Y’all should be a little excited about it but don’t get overwhelmed and stay grounded…

Article:
A government official warns of an economic shock to the country exchange rate

Quote:
Former director of finance supervision bureau…ruled out returning the dollar exchange rate to its previous era.”

This is the word [Era] that caught my attention.  They’re not talking about the previous rate of 1190.  I think they’re actually talking about the reinstatement rate of $3.22…it almost looks like there are some discussions of a possible reinstatement [to $3.22]. 

I think that’s not possible only because I think it would shock the economy… if they did increments it wouldn’t be a huge shock to the economy…the fact that they’re using the word “era” and they’re talking about a major shock to the economy makes me believe that they’re actually considering the $3.22 rate…very very interesting article…I think they’re actually talking about it.

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Frank26 (KTFA)

We have a lot of articles…in the hundreds now and they all talk about the fact that the Iraqi dinar is about to be lifted in value.  I don’t know of anybody that’s out there saying it’s never going to happen.  Everybody knows it’s going to happen.

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Kaperoni

Over the last 10-15 years the IMF in various Article IV Consultations with Iraq have laid it out very clearly the objectives for Iraq, the monetary policy and the stability of the financial system…An excellent article came out over the weekend in which an Iraqi economist talked about how floating the Iraqi dinar would allow the currency to appreciate as well as end the daily currency auctions. I believe this is the directive, the IMF has described…

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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