Dinarland Highlights – 3.29.22
Parliament getting dissolved would do nothing, and might give Maliki more of a majority. I am hoping if this is not resolved, the federal court will use extraordinary powers to appoint a new president of the republic, and he appoints a new PM. This might defeat Maliki and his friends.
I am still not 100% certain tomorrow [Tuesday] is our day…2 contacs from large International Banks think tomorrow will be the day everything starts…I am praying and hoping it is true…
[Were your bankers wrong when they said today is the day?]
We are going to see…We don’t know yet …They were certainly very hopeful that today is the day. They are all sitting on “Stand by” So I am not ruling it out yet. Upper echelon bankers hope its today…the window is between now and the 6th.
Based on people in Iraq – we still expect a new rate before April 4th. So within the next 5 days. Things are looking phenomenal right now.
…if Iraq goes with the NEER (Nominal Effective Exchange Rate)…the rate will float. Right now we are hearing if Iraq does go with the NEER the rate will be about $1.60. This can be used if Iraq gets tired of waiting for the GCR… They want the full amount of over $3.22 but may settle for the lower NEER rate to float if they have to.
Sometimes countries will revalue their currencies from time to time. Most citizens won’t even realize it…the only time you’ll really recognize it is when you go to buy products and services. You’ll see that either it went up in cost or went down in cost. This is from 2007 – Article: “Kuwait in surprise dinar devaluation“
This happens in countries from time to time…guess what happened to the Kuwait people the day before this depreciation? What do you think think happened to their money?
Nothing, because the rate change had not happened yet. What do you think happened the next day after it was depreciated…? Nothing. That’s what happened. How many people from Kuwait realized that the depreciation took place? Very few of them…most people wake up every day…they use the currency they have, they’re not paying attention to what the exchange values are. In country the way they notice an exchange rate increase or decrease is by the cost of good and services…
ABC News Article:
“Iraqi lawmakers fail to elect president for a second time”
Iraq for the second time failed to elect a president on March 26…because most of the Iran-backed parliament members did not show up and therefore not enough members to have a legal vote. This is a major major news story all over the internet but we understand Iraq a little bit better than most and we know that Iraq will come when they are ready…
“…you do have a valid point [Little will get done until after Ramadan] but at some point patterns do get broken…There are a few articles that stated there is an urgency to pass the budget. Not sure if 3 months later…is urgency?? …your opinion you said mid year, which to me is not logical…”
The budget may very well be approved once the government is formed, in fact, I hope so.
Now, is the naming of the POR enough? Imo, no. I will look to the PM next to be elected. Will the POR & PM be enough? Doubtful imo. I suspect the cabinet will need to be seated prior to [what] we are all hoping for. With that said, I hope that the new POR &/or PM will send the budget to parliament to get that process going, during the completing of the GOI. Which as I said brings us to mid year-ish imo. Btw, my stance has never wavered.
“The Minister of Finance, praising the “White Paper”…”
The Finance Minister has his committee approved. He is praising the White Papers and the importance of them. The “Transformation into a New Era” should not be lost on anyone. They have been consistently telling us they are going to change the exchange rate and even one where it is to be back to a previous era. The era that supports a “Transformation into a New Era” is for Iraq to revert to an era that mirrors the need for NSCNs and fils. The previous program rate of 1190 or 1182 or 1166 don’t and will not work with the NSCNs and fils. There is no data to support that that would be in the White Papers..
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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