Dinarland Highlights – 7.29.22
The big news is from Kazemi. And his announcement that the new rate is coming. He assured the people they heard their voices and a new rate is coming. Kazemi was very specific that we would not see a recent rate…that it would be an older rate…and they would go back to being a premier currency in their area. I am still being told they are in a mad scramble to finish seating the government over the weekend. They will be working over the weekend to get one sat. I am feeling pretty confident this time that we will see some massive movement over the next few days. That Kazemi announcement is huge…
…They announced the new rate was coming…but hasn’t occurred yet. In the markets and in the streets they are already starting to demand more money for it…very interesting news coming off the streets over there right now.
Right now we are hearing a lot of back and forth out of Iraq on when to expect them to seat the government. What we are hearing is it probably will be Monday. This is the plan I am being told from contacts in the Kurdish region. They are coming to an agreement guys and it is close. We are hearing a lot of back and forth from Iraq as to what to expect rate wise. I am hearing 1 to 1. I am hearing $1.60…these are 2 possible NEER rates (Nominal effective exchange rates)…We are also hearing possible re-instatement of the rate at $3.28 …also revaluation rates at around the $4 mark…its all over the place…You all should be excited watching the conclusion.
Nader From The Mid East
About the dinar, when I told you it changed, yes it did changed. It changed on their part, on the offices, on the banks. They didn’t stop work with it. Once they Sit the government – one or two weeks later things will change. The price? I don’ know. It can be 1200. It can be 1150. It can be 1 to 1. It can be $0.60 to 1. Nobody knows what’s the rate.
turns out the Iraqi Citizens…said enough is enough and they stormed the government of Iraq in parliament and told them all where to go…
“How did the Green Zone wake up after the Sadrists stormed?”
WHEN KAZEMI CAME OUT AND TOLD THE CITIZENS STAND BACK I HAVE YOUR NEW EXCHANGE RATE…
[Iraq boots-on-the-ground TV report]
FIREFLY: This is the second day in a row that the Framework is talking about a change in the exchange rate. They are telling us that a change in the exchange rate is needed…these are the same that told us that we will never have a new exchange rate and then in the last two months they’ve been telling us no it’s only going to go back to the old rate…
FRANK: Notice how those that were against the monetary reform are now cheering for it because they know Maliki has no power so they lean in the direction of Kazemi.
You are in the thick of it now. The information between now and August 7th will be flaming hot. Scorching. What Al-Kazemi did [Announce a new rate is coming] can’t be put back in the bag. This boulder is coming down the hill fast.
The formation of the government and the rate change, those two steps are married together. They’re gonna RV immediately after they form the government…They’re going to implement the reforms roughly 2 to 3 months after they form the government. Why is there a delay between the oil and gas law reforms and the formation of the government?It’s because they need 2 to 3 months to fully approve the budget because the budget approval period is waiting on the rate to become public.
They need a new public rate to approve the budget. Once the budget is approved…then they can implement the reforms…They want August and September to be able to approve the budget so they can implement the reforms in their seventh month of October…this is nothing more than a mid-year supplementary budget and a mid-year rate change.
Kazemi putting icing on the cake saying we change the rate – game over. It’s a matter now of timing. But here’s the thing that’s really important and that is the fact that if he’s told the people they can’t sit on this. They’re can’t let it go too long because the people now have expectations…I think we’re in a short window here. I think the next several days are going to tell the tale.
…It is highly unlikely any bank will add the dinar to their exchange program. Iraq is volatile and banks are conservative by nature. There will never be an overnight RV of the dinar so there will be no need to ever go to a bank to “cash out.”IMO if the dinar floats it will be gradually over time which means more than likely your dinar investment would have to be deposited into a managed broker. Whether that ends up being some type of brokerage firm, market maker or ECM who knows. We just won’t know until Iraq decides.
I have this strong feeling at this stage of the game it’s not necessarily goodbye because I’m not going anywhere but I feel like it’s almost a goodbye because the nature of what we’re and how things will roll out. I see this thing coming to short-term crescendo and I have to say I’m very happy to have been able to be here to watch it unfold…
Bruce (The Big Call)
Iraq has been told…when they were asked, Can we put out our new rate on Saturday? The answer was yes. We do finally expect a printed version of the Gazette on Saturday to go out with Hashemi [spelling?] as prime minister and the government – Parliament is seated and we expect it to also mention the new Iraqi dinar international rates. We know the rate internationally is the same as the in country rate for Iraq. We know how much it is already…and we know it will be traded up to that number that Dr Shabibi projected back in…2012…it should exceed it by up to a couple of dollars...I really think we are extremely close…I think there’s a good chance we could get notified Saturday morning… we’ll see what happens this weekend.
Iraq going digital…that means they’re going to go international. But it also means that they are going to start getting out from under the U.S. dollar with means they’re adding value to their currency. I promise you they are not going to be trading on the Swift system with the Iraqi dinar at a 10th of a penny. That information goes hand in hand with a time-frame/window on when they’re going to start adding value to their currency. That’s why it’s such good news.
The exchange rate is the topic everywhere…in the streets of Iraq. It’s everywhere in Iraq…the CBI is meeting with the AMF and showing them proof of sales and specimens. This is all fantastic. The timing couldn’t be any better.
“A New Parliamentary Movement To Change The Dollar Exchange Rate“
“most of the forces affiliated with the coordination framework are striving, and through the next government, to return the dollar exchange rate to its previous rate.“
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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