Dinarland Highlights – 4.20.22
…In a call with the Central Bank of Iraq…happy news was shared…Iraq has had their “Interim Government” in place for the past 2 weeks. The have removed all Iranians (troublemakers), from government…The new (approximate) Golden Dinar rate is 1 IQD to $3 USD…The only compelling reason to wait to begin Tier 4 exchange, is for the ISO 20022 [an ISO standard for electronic data interchange between financial institutions.], which goes into effect the end of the month for currency all over the world. It’s the final, and the verifiable triggering event…Relax with a hopeful knowledge that this is the end of your long wait…
[Do you think they could change the dinar…making the notes we hold no good?]
Eventually yes…AFTER we have all exchanged. After a certain amount of time…the large 3 zero notes will be no good...Whenever they change to a new series of notes…there is a time period to exchange the old ones before they are no longer good.
…good vibes starting to roll around… there is something in the air…I can feel it…My redemption center folks are finally excited again. They believe they will absolutely be working this weekend. I am getting a lot of chatter from my banking sources about tomorrow. Makes me a little nervous but tentatively excited. It somehow feels like we have turned a corner…
“U.S. Department of the Treasury: Under Secretary Brian Nelson’s Meeting with Iraqi Deputy Prime Minister and Minister of Finance, Ali Allawi“
The food law, as they are calling it is a necessity of the citizens. They have been talking about the GOI and the 2022 Budget, i.e., a new exchange rate too IMO.
“They discussed challenges facing Iraq, including inflation and pressure on supplies of food and other commodities as spillovers from Russia’s invasion of Ukraine – food prices in Iraq have increased by double digits since the start of the war.”
A new exchange rate is imo all that is needed to curb inflation and bring purchase power…Lets see what the day(s) bring…I like this a lot. It is a very timely piece from the UST…
“Do you think Iraq has enough security and stability right now to reinstate their currency?“
Most definitely…waiting on a seated government. Nothing else is preventing them from releasing the new exchange rate…they are prepared now to introduce a new exchange and currency…
“The Central Bank of Iraq achieves the highest percentage of hard currency reserves since 2014“
“The Central Bank: Our cash reserves exceeded $70 billion”
“Why Foreign Currency Reserves Are Important”
“holding foreign currency reserves…influence the exchange rate. With large foreign exchange reserves a country can target a certain exchange rate. For example, suppose a country wanted to increase the value of its currency, it could sell its dollar reserves to buy its own currency on the foreign exchange markets. The increased demand for this currency would appreciate its value.”
…a few years back Iraq was taking I think $1.5 billion a month from their oil revenues and buying their own currency back off the market…
“Central Bank: cash reserves exceeded 70 billion dollars”
...The Central bank has reserves exceed $70 Billion. This is good. Iraq continues to build up the reserves…the more Iraq continues to build up their reserves the easier it is for them to stabilize their own currency...with these reserves they can…increase the value of the exchange rate by buying more of their own currency off the market… Iraq ‘s foreign reserves are increasing. It’s just another step in strengthening the Iraqi dinar and then eventually moving up in the exchange rate.
“Ukraine – Russia will it effect the monetary reform?”
No. What does the ruble have to do with the monetary reform of the Iraq ? …the ruble is being destroyed. Is the ruble on par with the Iraqi dinar? No…what they are doing has nothing to do with the beauty, the supreme efforts that are being done by Kazemi and Mustafa for their country, for their currency. The whole world wants to pour into Iraq and do business with them.
“U.S. Department of the Treasury: Under Secretary Brian Nelson’s Meeting with Iraqi Deputy Prime Minister and Minister of Finance, Ali Allawi”
I’m having a hard time with that Food Security Law. With the budget imminent, what’s the need for it? UNLESS…it’s a COVER for something else???
...I think we can all agree that the “actions” we are seeing clearly delineate a game plan and a strategic execution of timing and global input for Iraq ‘s next move. With food prices skyrocketing they clearly only have one move to protect their citizenry. A global Force Play!
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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