Dinarland Highlights – 3.6.22
the CBI, they have the exchange rate in their court. Not the GOI / Finance Minister, his tasks are important, just different from the CBI…They are independent from each other. As for the political side of things, they will eventually come around. They may even come around at the same time. I know there is a view that they need to be first, but, the way I read it and from the expert on the CBI has it that the exchange rate is in their court…They devalued before and they can revalue in the future…
They have been talking nonstop about the exchange rate…A lot of the news articles that have been coming out are consistently just talking about the exchange rate. Just talking, talking, talking about the exchange rate…good/bad. Article “Al-Kazem’s advisor: The state’s loss will be great by adjusting the exchange rate” When I read it he’s not that much in favor of raising the exchange rate the dinar. He’s talking about how the state is going to be at a bigger loss if we start to do that. That’s one side of the coin.
Article “International Monetary warns Iraq and announces its position on the dollar exchange rate” The IMF is telling them you guys should look into raising your exchange rate… Youtube video “Speaker Halbousi Speech on Revaluing Iraq Dinar Exchange Rate” This guy did a great job…he gave a speech on revaluing the Iraqi dinar exchange rate. [NOTE: See video below] He talks on why it was good – Why it was bad…and how certain private banks…and finance companies…will profit once the exchange rate is taken…Great speech about 23 minutes. You definitely want to check it out…it’s really informative.
What I find about those individuals who believe that the Iraq dinar is a scam…I put them in three categories.1. They bought into dinar and got impatient and now are so frustrated they just call it a scam. 2. Are those people who are just trolls. They like to come on here stir people up and cause problems. 3. …Those people…on the border. They own dinars and they’re trying to convince themselves that this isn’t real and they should sell it but…they can’t quite let go of the dinar. They’re kind of torn in their mind. They’re not sure what they want to do so they figure if I throw some negative energy on it then people will comment back and somebody might say something that will convince me totally not to give up my dinars…
I never denied the fact that an increase in purchasing power would benefit Iraq and especially the Iraqi people. Also I never said it’s for sure not going to be reinstated at $3.22. What I said was it’s not likely. But that’s just my opinion…I don’t flip-flop not at all. I told everybody IMO the Iraqi dinar is going to increase in value but it’s going to happen in increments but also if I’m reading the news articles it sure the heck appears the way the language is being used it definitely appears like they’re considering it [An RV or an RI]. That doesn’t change my mind about the fact that I think that it’s going to be done in increments.
As a general rule, Iraq does little to nothing during Ramadan…But if they could seat a new POR or the current stays & had the authority to send the budget to parliament, in theory they could work on the budget during Ramadan. The absolute soonest I can see the budget opening is early May…imo the best times for the MR reforms are end/beginning, mid year, because of accounting purposes imo. With that theory…June could be in play. Certainly, if the budget were not to open by July, I would suspect that the budget will not open this year at all.
[Does the parliament in Iraq have the power to request aa reinstatement of the dinar?]
The way they have separated the parliament from the CBI…parliament can push and push and push for an RV or Ri…but the way I understand it the power to do this is solely with the CBI. So it is up to the CBI, but they are being leaned on now.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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