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Dinarland Highlights – 3.10.22
MarkZ
[via PDK]
I am hearing from the banking side that they do not expect the NEER Nominal effective exchange rate. They think that perhaps that is what they will do in country, but because of the oil for dinar program we should still get a higher rate... I am told that our rate should still be unaffected if Iraq goes with the $1.50 NEER rate. A $4.81 rate would be great.
It looks like they are not going to seat the new government of Iraq until the 20th now. They are also coming out with confusing articles. The confusing articles are exactly what we saw in Kuwait before they RV’d…
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MilitiaMan (KTFA)
…To me the rate will proceed the GOI seating or at the same time, as they’ll need the new exchange rate to vote on for the HCL and to interlink the borders internally and externally.. imo.. The GOI should already be fully aware of all of this, and not play ignorant. When they do even the experts call them out on the matter.. It is show time..imo!!
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Pimpy
Do I believe that the $3.22 rate can be reinstated? My answer is and always has been yes, it’s possible but unlikely. I’m not saying it won’t happen…it’s possible but unlikely…in order for them to allow the economy and businesses to adjust it’s going to have to go up in increments…
The exchange is not going to happen between us and Iraq. It’s going to be us and our banks. Then our countries would deal with the exchange with Iraq…I could see them just holding on to the dinar and building up the foreign reserves especially if the Iraqi dinar increases in value. Reserves would be a lot more valuable… Sadr is looking into this rate change. He gave his proposals…it looks like he’s serious about keeping his campaign promise. We’re going to see the rate change in a positive direction for the Iraqi dinar. But don’t get overly excited, we need to figure out at what level is Sadr talking about.
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Petra (KTFA)
Article:
“Iraq invites French companies to implement projects in Baghdad“
Myriads of countries have “aligned” themselves with business opportunities in Iraq…yet, to my knowledge, nobody is jumping in with both feet…Why? Because Iraq…have not made the commitment…to establish full Article 8 compliance. Yes, they are using Article 8 tools, but until they formally adopt full and final efforts in being Article 8 all such discussions are cordial and friendly but no money is being ingested into the country.
Because, Freedom of Capital Movement comes with full compliance and the currency, whether NEER or REER has yet to be established closing the loop on Full Article 8 compliance! Who would invest funds knowing they could “disappear”… NOBODY! So, Iraq, all the discussions are great, but…until investors and secondary market players KNOW their money is going exactly where it was intended and IMF protocols are followed to the law! Get your house in order and the countries you have met with will return….with the checkbook!!!
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Frank26 (KTFA)
The key in the monetary reform right now, what matters most in the next step of the monetary reform is the face value of the Iraqi dinar versus the American ‘worthless’ dollar. It is par value that the CBI seeks. The par value is the purchasing value for the citizens themselves. It is also the face value that also Kazemi and Mustafa seek because that is a 1 to 1 with the Iraqi Dinar being on par with the American dollar.
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Samson (KTFA)
Article:
“Oil prices exceed $132 per barrel for the first time in 14 years“
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Godlover (KTFA)
Community Comment:
“Sure seem to me that all the HOOPLA about the fantastically low auctions have quickly disappeared...”
You have been around for a while & should have known the high numbers would be back. It’s funny how either the same day or the day after there was an article that stated it was the first auction ever that was below a million…which of course was completely false. At one time I had documented many auctions below a million & many even at 0 sales. In fact there was a span of several weeks back in 2020 I believe that many were below a million & had many members including myself getting a little excited. Now I know better…
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Fleming
All the news that we’re getting out of there [Iraq] is saying the same thing…over and over again for the last couple of weeks, …about the dollar 50 that’s…going to be the in-country rate…They were going to put on the Forex and then let it just go and float to see how high it’ll go…The central bank does not answer to the government and the government does not answer to the central bank. So we’re sitting here waiting for somebody…to step up and say, we’re going now…the IMF has already given them permission. They’ve already got to go to go. They’re sovereign…
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Sandy Ingram
Article:
“US strikes harder at P***n, banning all Russian oil imports”
This is excellent news for Iraq and OPEC who will need to provide more oil.
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Walkingstick and Frank26 (KTFA)
How is it we have an explosion of an economic reform inside of Iraq right now and I still don’t see the new exchange rate? I still don’t see the new currency? How’s it that we have an economic reform without the monetary reform yet?
…Because Iraq is filthy rich…Iraq wants to go international…but it required a lot of things and all those things are done. There’s no restrictions on their currency… we read constantly that a change to both the rate and the currency is coming…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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