Dinarland Highlights – 7.7.22
“can you give us an update as what you found out concerning the exchange rate range that we might be expecting?“
Between $0.50 and $0.60.
“What is the rate the banks will charge?“
They’re only allowed to charge a certain percentage… 2% to 3% something like that. Where people were getting confused is they were buying dinar from the brokers and the brokers can charge anything they want. Banks are a little bit different…
The news this period coming out of Iraq is all about the formation of the new government…Once again, I am telling you that the CBI is waiting for the government to be formed but it must be a government for the people, by the people…So here we sit and must wait for the government of Iraq to be formed. The outcome of this process will determine the next stage.
…Gradually reducing as opposed to instantly overnight is not something I’m personally concerned about because how long is this gradual process before purchasing power or parity is established? Is it according to the fluctuations in the market in terms of price stability? Because they have enough hard currency reserves to combat this smoothly. Is it a week? A month? Two months? Starting it in early July is something that should not be overlooked. Because Supply & Demand is what will drive the price. That will come with fluctuations.
Now that we have a new legislative session coming up next week. It brings me back to what Al-Kazemi…When he mentioned the USD reduction price. He was very clear as to what he requested of his cabinet. And he has not come out to backtrack on any of his statements. The man had 100 Deputies sign to support his agenda at the earliest time possible…obviously Al-Kazemi wants to alleviate the conditions of his citizens as soon as any viable allotted time.
[Iraq boots-on-the-ground TV report]
FIREFLY: We see the U.S. senator was here…talking to Halabusi and Kazemi and he was asking for Iraq to speed up the reforms.
FRANK: WHAT!?! That’s not what the article said Lindsey [Graham] was talking about! So Lindsay comes to Iraq and tells Kazemi to speed up the reforms and tells Mustafa of the CBI to speed up the reforms. That’s interesting.
on the RV front it is still very quiet. That is not bad news right now. I am being told to watch it play out. There is a lot happening this week. They are putting the food and security law into effect in Iraq. We are told this is a big piece. May have HCL law and rates in it…it is very encouraging. As of this morning in Iraq the rate has not changed yet. I have spoken with folks on the ground in the country…no new rate yet. Are they extremely hopeful for soon? Heck yes.
I am getting a lot of reports from whales in different redemption areas that are being asked to come back and stay. This started happening earlier today. They are being asked …to stay no matter how long it takes because we are that close and will be minute to minute… In Iraq- We have some announcements and hopefully it will make the press tomorrow. But a number of the ministers are being sat in Iraq. It would be better for the citizens and their upcoming holiday if things move quickly.
…Maliki becoming the prime minister of Iraq – You’re going to see civil unrest, protest, clashes like you’ve never seen before. You’re going to see Iran get involved…they’re going to be going in the wrong direction…if you are an investor into the Iraqi dinar and Maliki makes it to prime minister this is not going to go well…
“The Iraq Stock Exchange launches a platform for trading shares of undisclosed companies“
Now we know that the EFSL is done…It is likely the main conduit for the Reforms to get up and running in earnest asap...The taxes and tariffs, customs fees, e-governance issues are all in place imo and ready for the adjustment to a new exchange rate. The EFSL having been published is likely the trigger for this trading platform to get running...
…Multiple currency practice…has nothing to do with dual currencies, it has to do with different exchange rates for the same item within the country.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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