Dinarland Highlights – 4.30.22
Bruce (The Big Call)
We’re hearing that we will have our tier 4A & 4B group exchanges initialized a couple days prior to the 5th – well that would be the 3rd of May…So that is our window and it looks like they are going to hit this either the 3rd or 4th of May – which is Tuesday and Wednesday – of next week…Realistically…we’re looking golden for next week – Tuesday – Wednesday – Thursday – 3rd 4th 5th…This is going to be an incredible week for us…
Guru Mtn Goat…says Iraq will not LOP…But of course that is exactly what the symposium’s are educating the citizens about…a currency exchange neutral event. I hope they don’t, but the only option is to improve the economy and create a private sector. This would allow the currency to appreciate gradually over time. Unless they build there economy they may have no choice but to LOP.
Even though the news has been very quiet there is no changes in expectations. I am still hearing around the 7th through the 10th because if Iraq wraps things between the 3rd to the 7th….it gives them a 3 day window.
There was one very big piece of news…from Iraq . Iraq is now certified under ISO. So for all you folks talking about the ISO 20022 stuff…there you go. I know there has been a lot of chatter…about this …about how this could be a necessary piece…Well Iraq is now ready and everyone can quit worrying about Iraq on this one.
When the rate change happens, for the sake of this just to keep it simplistic, let’s say lo and behold the next day it’s $3.22. We’re not all gonna pack our bags, get in our cars, jump on our boats, jump on a plane run to Iraq and exchange it. We don’t exchange with the Iraqi banks. We exchange with our banks. Whatever country you’re in if you have a bank that now has removed the restrictions off of the Iraqi dinar and they have acknowledged the rate of $3.22 you just walk on down there to your bank, show them the dinar, they’ll verify it before they even deposit it.
They’ll tell you how much is going to be deposited into your account. Give them the thumbs up. You’re done. That’s you and your bank. Now what happens is that bank – your local branch then does what? …they send that currency over to the federal reserve. Or if they have enough people coming in buying Iraqi dinars, they might hold on to it and then use it because people are purchasing Iraq dinar. But if they have a large surplus of Iraqi dinar then they’ll send it back over to the federal reserve…the Federal Reserve will either keep it on their book ad build up their foreign reserves [or send it to Iraq]…
“When they start calling in the IQD three zeros will they start with higher denominations or the lower ones?”
Higher. 25K notes. They have been doing that for years. They have destroyed million in 25K notes...
[QFS??? Instant moving money in seconds vs days?]
[u think this is one of the things we are waiting for?]
Yes, part of supporting ISO 20022 compliance. My opinion only. ISO20022 is a driving force for financial, banking standards.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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