Dinarland Highlights – 5.18.22
So, Iraq currently has two main ongoing critical sagas now taking place… The first is the elections and forming the new government…I want everyone to remember that months ago the CBI told us that the initiative to complete the currency changeover and thus later the reinstatement, was approved and just waiting for the president to be announced and then the rest of the political process to form the government to follow. The second is getting the 2022 budget.
This is great news of course.
“Iraq’s Oil, Gas Production to Increase By $17 Billion In Coming Years“
That’s more money to Iraq, more money to the government to build more of the private sector to get them less reliant on oil to fund their budgets, give them a secured economy, strengthening up the dinar. First they got to straighten up the government…
“…article statements give the support to the NEW Food bill being presented, and we all know the Budget Law 2022 will be required at some point…”
The food security law & the 2022 budget are two separate animals imo. Many articles have made it clear that the food security law is an “emergency” law. Something I personally don’t think is a positive indication as far as the 2022 budget being passed anytime soon.
The idea for this FSL was intended to be used until the budget law is passed. This would indicate that they expect a slow process to seating a new or old government & then working to send & pass the 2022 budget. Also keep in mind that the FSL law is funded off surplus, etc from the previous years budget. The same budget they are using the month to month.
We are supposed to have a second reading of the Food Security Law at some point today. I do not have any results yet or whether they have scheduled a third reading yet. I am still being told by my contacts inside Iraq that this is one of the key pieces we need to get a new rate…hopefully we will get that news at any moment.
[I heard the rate is $6 or greater…]
it could be…a lot of people talk about the amount of currency in circulation…they have removed $40-$50 Trillion dinar from circulation over the last 9 months.
[Why did they remove so much dinar from circulation?]
Mostly it was cleaning up corruption…They have now thinned the number of dinar in circulation so they can justify a higher rate.
“Blackshardt to the Security Council: Popular discontent in Iraq may get out of control at any moment“
A scathing report from the UN…the business side of things to go international are ready and in place…the urgency to get the state in order and to press for political will to overcome differences is the focus now…The country is well outside their constitutional boundaries politically now, imo.. The UN knows it, we know it, the citizens know it and are even in the streets wanting exactly what the UN stated tonight.
The sharing of the wealth with the citizens is a minimum.. imo…The pressure now has to be very heavy on those that are not supporting Sadr. Those that may be close to losing immunity, have to read the UN report to mean exactly what the world expects. Justice. Get the systems live now and allow the system to work for the citizens, the region and the world at large…Lets see if the powers at be have jumped started the process with the use of the call for urgency…
More than likely Iraq will do what they have been proposing and educating the citizens on which is a neutral event LOP. The other alternative is slow growth or appreciation as the economy grows…A gradual appreciation over time would also allow the central bank to manage the currency in circulation and reduce it as it appreciates in value…
[some] say published news about deleting 3 zeros in Iraq is some magical riches event, it’s not! It’s a new currency change and neutral event LOP. We have to hope the Iraqi government continues two table such an idea and build a private sector economy allowing the currency to appreciate over time. A much better solution.
Bruce (The Big Call)
I think any day this week…is going to be an important day for us – one way or another and it may be that this thing happens before Friday for us…it’s hard to get confirmation…there is a new higher level of a gag order…and they have tightened up their NDA’s for employees of the banks as well… I feel like we are moving in the direction… Let’s see what happens in the next few days…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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