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Dinarland Highlights – 6.24.22
Mountain Goat
We all should be aware by now the Central Bank of Iraq (CBI) is waiting in the wings to conduct the project to delete the zeros. They have been waiting since January, when they proposed to do it but were asked to hold off until they settle this election saga…I am being told that when the new government is formed, if it is a stable one, the US Treasury fully intends to support the reinstatement.
When this signal is given to the CBI, then they will move ahead to the next step which in the project to delete the zeros. We know that this project will coincide or slightly precede the reinstatement of the IQD back to FOREX. When FOREX happens the OFAC sanctions will be lifted and we go to the bank... Yes, this could happen by mid-July… The possibility is VERY real that this ongoing RV saga could also be over.
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Samson (KTFA)
Article:
“In The Document.. The Signatures Of More Than (100) Deputies Were Collected To Reduce The Exchange Rate Of The Dollar Against The Iraqi Dinar“
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BGG
Article:
“Collecting more than 100 signatures.. A parliamentary move to reduce the dollar exchange rate“
With all they have going on right now, am I the only one that finds this article a little strange? IMHO – the whole world is in a hurry to get off the USD. We have triggered our own hyperinflation (thereby HAMMERING our own currency) and NO ONE wants any part of it. Not even Iraq. Iraq may well be the one currency in the UNIVERSE with the actual assets to be a true non-Fiat currency and is still referred to as “grossly undervalued”…
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MarkZ
[via PDK]
(Holds up a crisp new 50 dinar bill)
…Here is a brand spankin new 50 dinar note…at todays value its worth 4 and a half cents…you have to ask yourself why print notes worth 4.5 cents???
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Godlover (KTFA)
[Response to reports of new ATMs in Iraq]
First off, we don’t know the condition of their old ATM’s. The need to replace them was likely a priority with all of the banking reforms. Of course I do believe they will be able to function with the hopefully soon to be NSCN’s. Will these ATM’s only be turned on after the issue of the NSCN’s? No one knows the answer to that, but I would guess the ATM’s will be used for some time prior to the release of the NSCN’s. The new ATM’s in itself, does not give us a real time-line.
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MilitiaMan (KTFA)
Our source(s) since Thursday last tells us the MR mandate at the FM level has been completed and that fact was put to the CBI. Imagine that…Then we see days later that they are gearing for full ISO compliance…Well also to note from our sources...business owners…after many months asking about the NSCNs with no success was now told that the packages arrived…I suspect the next 24 -72 hours to be extremely bullish. imo
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Daytrader
FOREX will have only one figure represented for the IQD/USD exchange rate. Short lesson: an exchange rate has both a base currency and a quote currency; base/quote. For example USD/KWD is the US Dollar versus the Kuwait Dinar. The base currency is the USD since its listed first, and the KWD is the quote currency. The question being asked with this formula is how much of the quote currency does it take to buy one unit of the base currency…
…or how many Kuwait dinar does it take to purchase one USD. Based on today’s current exchange rate, it takes less than one Kuwait Dinar to buy one USD; or $1 = .30668724 KWD. To switch the equation to KQD/USD changes the question to how many USD does it take to buy one KWD, divide $1 by .30668724 IQD. The result is 1 KWD = 3.26128 USD.
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Nader From The Mid East
The Iraqi dinar…it’s going to take a lot of time. They’re not ready yet. We’re not ready not. Nothing is ready yet. It’s still a mess over here. You see missiles coming. You see some storms coming. You see no government set up. The CBI it’s not moving much. The CEO of the CBI doesn’t have any balls to make any decisions. We need somebody with balls to make decision for us to go forward.
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Deepwoodz (KTFA)
[Response to Guru Godlover below]
Imo Not your run of the mill ATM’s
Article quote:
“The new devices are already getting our customers’ attention, and in our next phase, the ATM’s integrated cash recycling capabilities“
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Mike Cottrell
[via PDK]
I think we are in a good position…. I do know certain documents have been signed overseas to get this thing moving…but no one knows the timing...I think we are very close…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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