Dinarland Highlights – 4.15.22
[Mark do you believe we have a good chance for this weekend?]
Yes I do believe we have a good chance for this weekend…especially after my communication with an Iraqi source… saying they are hopeful they will get the food law and budget before parliament to vote on it within 3 days….
The news coming out of Iraq is downright confusing. One block says they have to wait for the new president before they push forward…another block is saying they are going to get the food security bill and the budget in front of this parliament session…I have heard from Saturday to Monday for a budget…but do not know what to expect at this point. So much back and forth in Iraq right now… We will watch it as this is the same kind of rhetoric coming out of Kuwait and China and even Iraq just before they revalued before…they put out misinformation to purposefully throw off the timing. So don’t let these conflicting stories discourage you…We have history to prove this is expected…I do feel good that we are so stinkin close though.
I am still being told to expect something over the weekend. I am still hearing they are still pushing for the budget to be put before Parliament on Sunday or Monday. Redemption folks are still on call for the weekend and still planning on working on Monday. Wish I had more but its an exceptionally quiet day today.
“Feels like it was all a scam, and once again, I was a sucker. Don’t think I will ever get rid of it, just in case, but, it sure has been a Looooooong time, and nothing looks to have changed.“
The idea of overnight riches by buying dinar is a scam. Can the dinar appreciate in value? Yes, it is well documented that it can if Iraq builds an economy.
A new set of documents completely describing the intent/plan for the dinar has been discovered… they may issue a new dinar currency next year in 2023. The new dinar will…be without zeros. Citizens will exchange their current dinar for the new dinar at 1000 to 1. The new dinar will float and be pegged to a basket of currencies, primarily the Middle East. The switch from the current Iraqi dinar to this new dinar is a neutral event. In essence a LOP.
1000 current dinar to 1 new dinar is the exchange. The value of 1 new dinar is recommended to be $0.50 cents. In other words, if you exchanged 1 million current Iraqi dinar for the new dinar it would be worth $500 US dollars. There is no gain. All of these specifics are nothing more than a proposal at this time by prominent economists in Iraq. This proposal was submitted to the central bank for implementation beginning of 2023. It is not official.
Good news when it comes to the economy [of Iraq] as well as non-oil sector…
“The World Bank announces in numbers the recovery of Iraqi economy“
It’s looking really good...
“noting that the recovery was mainly driven by the non-oil sector…telecom…transportation, accommodation and retail sectors…”
That’s what we want to hear…all of this strengthens the dinar…
As far as the budget is concerned, my thinking is that if the current government was able to send the budget to parliament, they would have long ago. After all, there is no reason for them not to have already imo. Furthermore, the food security law seems to be a bypass if you will, to open a mini budget in replacement to the general budget. Something I think is a red flag.
Bruce (The Big Call)
Where is Iraq in this thing? They are still putting out their new rate on Sunday their time – Sunday morning – it’s late Saturday night our time – so I’m looking for that to happen and I’m looking for that to be traded internationally starting Sunday night – that is the first business day in Iraq…So let’s just believe we are here finally at the end…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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