Dinarland Highlights for March 9, 2022

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Dinarland Highlights – 3.9.22

Samson (KTFA)

Article:
“The Federal Court postpones hearing the lawsuit to restore the dollar exchange rate to its predecessor until next Monday”

Article:
Deputy: Changing the exchange rate does not come with political speeches

Quote:
The State of Law coalition confirmed, on Wednesday, that changing the dollar exchange rate does not come with political speeches…the issue of changing the dollar exchange rate is purely scientific

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Mountain Goat

Good News!   The International Financial Action Task Force (FATF) has taken Iraq…off the (grey) list for money laundering… So, this news today is yet another sign the window to financial freedom is close. Yes, we already witnessed the end to UN Chapter VII sanctions just recently and wait to hear now about the U.S. Treasury OFAC sanctions being lifted…

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Pimpy

Whenever we’re talking about the Iraqi dinar exchange rate…all this time we’re sitting there going, oh you know, chapter VII and the United Nations and the United Nations Security Council and the IMF…but the biggest reason why no major changes have happened yet is Iraq’s own government between Maliki and all his corruption, ISIS coming in there doing what they did, it’s just been one hurdle after another…one of them is making sure that the country is stabilized especially the government

I was happy about all the discussion going on about the rate change but I didn’t expect it to be very much of anything.  If anything I thought it would go back the original rate of 1190 dinars where it was before they devalued it down to where it is now. I had heard rumors and I had my fingers crossed they were talking about possibly bringing it all the way down to 1050 dinars…27.5% increase in value.  Not exactly what a lot of you are expecting but it’s not too bad either in the grand scheme of things.

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MarkZ

[via PDK]

[Reference Guru Franks26 post 3-8-22]

minimum rate at any moment. They are pushing for at least that right now…All the articles talk about this value is going to change…even at $1.50 it would be enough to make a huge difference to most of us…you could always just exchange a little and wait for the rate to go up. 

What it appears to me…from articles…Iraq wants to RV to at least $1.50…and they want it
immediately 
…The NEER is the Nominal Effective Exchange rate…It is the nominal amount they are willing to accept to move forward now…In some of their old documentation it was set at $1.00…they are now pushing to set it at $1.50. …The Nominal exchange rate could be a way to suck more dinar off the Iraqi streets before they release a better rate…  ...$4.81 was what we had been hearing for a target rate…What they could do is start at $1.50 and let if float to $4.81

Movement from the Iraqi government front on the Kurdistan side…They have worked out a framework and suggestions and will propose them over the next couple of days until they reach an agreement. There is a mad dash to get the government sat.  I am told that the moment they do…we will get the rate…Buckle up and hang on…we are getting close according to news out of Iraq.

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MilitiaMan (KTFA)

Article:
The Federal Court postpones hearing the lawsuit to restore the dollar exchange rate to its predecessor until next Monday

They postpone the court until next Monday to hear the case of the Dollar Exchange rate and a Sovereign Wealth Fund…they are suggesting that the case is to restore the Dinar back to 120,000 / 100 USD from it’s present 1460. Just barely back to where it was 12/19/2020, a 22-23% move...

Could there be more to the story that will unfold between now and the meeting on 03/14/2022…The problem I see with the reversion back to 120,000 / 100USD is that it really doesn’t help the poor…Going from poor to poorer and back again to poor is a double slap in the face, imo…That will not be the purchase power they were promised

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Godlover (KTFA)

Article:
The Federal Court summons the Minister of Finance and the Governor of the Central Bank

I won’t get too worried by this just yet. After all, the soon to be formed government has not even implemented the WP’s per numerous articles. Now, once the government is formed, budget passed & opened…that will tell all.

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Walkingstick and Frank26 (KTFA)

There’s no delay in the new exchange rate and new small category notes.  They know when they want to do it.  Granted they are losing billions of dollars through their auctions…they’re [economy ?] growing because they’re filthy rich but this is not the way that it’s supposed to be…They need to stop using the crutch of the auctions that were established 18-19 years ago…

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Sandy Ingram

Breaking news – Sudan has decided and has announced that it will float the country’s currency.

Article:
“Roiled by economic crisis, Sudan to float its currency”

The reason this is important to us as IQD investors…is because we are going to get to see in real-time and the process of how a country floats its currency.  We can only hope that we could receive the same type of news release for the Iraqi dinar.

Quote:
“The Central Bank of Sudan said banks and exchange firms will determine the value of the Sundanese pound based upon supply and demand.”

[We] will watch this news story closely to learn about how the IQD…might play out when and if a currency is floated.  You should know Sudan is in much worse shape economically and financially than Iraq.

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Frank26 (KTFA)

[Iraq boots-on-the-ground TV report]

FIREFLY: Today on the television they showed an interview with the IMF…they talked about Iraq’s economy, how it is getting better and better due to reforms.  Then they called on the CBI governor telling the citizens that countries with fixed rates will make the best advances for their economy, would be a revalue of their currency.

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Bruce (The Big Call)

[via WiserNow]

… the timing is close…So – we’re in a really good place… I am excited about the possibility that we’re hearing of the timing for this – which is a couple of days away… let’s be expectant of something happening soon…

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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