Dinarland Highlights for June 29, 2022

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Dinarland Highlights – 6.29.22

Walkingstick (KTFA)

[via Frank26]

The CBI is meeting with the AMF (Arab Monetary Fund).  The topic of this meeting is the “swapping” of currencies with a number of countries in the Middle East region.  Why would you want to swap a toilet paper valued currency?   You wouldn’t…

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Mountain Goat

Article:
ECONOMIST: THE DOLLAR EXCHANGE RATE WILL NOT RETURN TO ITS PREVIOUS ERA DUE TO INTERNATIONAL OBLIGATIONS

…we read in this article that the “previous era” is referring to the old program rate and not pre-1991 era rate…Instead of changing the program rate back to the old program rate they are going to reinstate it and get off the program rate altogether…Also we read that the economic growth will meet monetary obligations of the World Bank...they already have a timeline set up for the reinstatement…This IQD will be reinstated. We will be going to the bank soon as they are just waiting for a “STABLE GOVERNMENT”.

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Tivon (KTFA)

Article:
The Central Bank announces that the Iraqi gold reserves have risen to more than 130 tons

the reserves are prepared to protect against local & international changes! Consider what that means when you think about the 100 deputies signing on to follow through on what Al-Kazemi requested of them [lower the exchange rate]… Mazhar Saleh (Financial Advisor) said that they can maintain the purchasing power that will result from the reinstatement because of their reserves….

Article:
In a quiet fire” .. a surprising and important statement by the Prime Minister’s advisor about changing the dollar exchange”

The volatility in the markets is what appears to be the deciding factor as to how long it take to feel comfortable with reinstating the Dinar…But they still allude to going through with it in spite of and will just adjust on the fly as the rate gradually increase from 1:1. So the problem may not necessarily be coming out at equal value but maintaining it.

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MarkZ

[via PDK]

It’s really positive all the news coming out of Iraq andit all centers around the white papers, economic reform AND an increase of the value of their currency. It’s exciting times in the Iraqi news and we know we are close but we don’t know exactly the timing. …this is the number one goal for them.  …its exciting times for them…and fortunately exciting times for us.

Article From Iraq:
Dollar Exchange rates are declining in Baghdad and the Kurdish region

Why is this important?  Normally in the local markets they were holding onto US dollars because of the instability of the dinar.   What we have seen in the past when we have been close and anticipating an exchange is they will start refusing to part with their dinar. People are putting a higher value on dinar now and not wanting to give it up. The people on the streets are anticipating a value change. That is a great sign –imo- that we are close.

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MilitiaMan (KTFA)

Article:
Association of Banks: More than 14.9 million bank cards in Iraq

They have close to 50% saturation in the country from the looks of it for cards in the hands of the citizens. They have been telling us all about the new ATMs lately too. The advanced ATMs that can not decipher multiple currencies and at varied exchange rates. They can recycle cash as well. This is more education and support that they are geared for internationalism…

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Pimpy

Article:
Paramilitary Finance denies the possibility of restoring the dollar exchange rate…”

This is another one of those article where they start talking about the exchange rate…it is always interesting to me to see how many articles are in the news in regards to the exchange rate.   They’ve already said what they wanted to do but they’re constantly in the news reminding everybody that they have no intentions on changing the rate.  If that’s the case then why do you keep talking about it?

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Godlover (KTFA)

Article:
In a quiet fire” .. a surprising and important statement by the Prime Minister’s advisor about changing the dollar exchange

This article makes it even clearer that the EFSL was created for the purpose of citizens immediate needs & to get them through until the CBI takes action on giving them purchasing power…Another article…the need for a new government & 2022 budget.

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Frank26 (KTFA)

[Iraq boots-on-the-ground TV report]

FIREFLY: Had a spokesman on the news giving explanation saying these new ATMs have the capability to take the money and do instant calculations on whatever the rates may be set at. For example only machines can handle floats of currency rates and give back the exact amounts for transactions at the currency rate of transaction…they are educating all of us

FRANK: …The Iraqi citizens are aware…why do you think the ATMs can instantly do calculations?  …Because the Iraqi dinar is going to float…Brilliant!  As it continues to float up in value the citizens are not losing any money…when they withdraw from the ATMs.  Wow that’s pretty good.  They are explaining to the citizens what these machines will do….

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Samson (KTFA)

Article:
OPEC: Iraq is the fourth in the world in oil reserves”

Quote:
Iraq ranked fourth globally in the world’s largest proven reserves, with 145.019 billion barrels, after Venezuela, which came first, with 303.468 billion barrels, while Saudi Arabia came second, with 267.192 billion barrels, and Iran came third with 208.600 billion barrels.”

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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