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Dinarland Highlights – 8.16.22
BobTheTaxMan
The facts regarding taxation on the IQD – It’s going to be ordinary income. Meaning it doesn’t get the favored tax treatment that a capital asset would…the taxes due will be calculated by your person tax bracket and your marital status when you exchange the IQD for the USD…the maximum taxation on IQD exchange would range from about 37% for the federal and then we have California that wants to add 13% [or what your state wants] more so you’re looking at 50% you’re gonna lose…
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MarkZ
[via PDK]
Still hearing dong around $2.30 and Dinar around $4 bucks. This is the “street value” .
…I continue to get information that in Iraq they are preparing for the imminent release …they are very confident that it is “days and not weeks” especially since they moving forward at the CBI. I do not know for certain if we are getting notifications this week. Is there tremendous progress and movement going on? Yes. Is there contractors with some rates? Yes... Do I know what those rates are? No. Can I tell you that at this point it is believed to be extremely close? Yes. But I do not know the exact timing yet. I can tell you there has been tremendous progress and I am excited. I am literally waiting moment to moment to get that call to let me know “it’s time”!!! There has been fantastic news.
[I heard there may be a 37% tax off the top.]
I am still hearing no taxes…
Out of Iraq:
“With the resignation of the minister of finance-the dollar is falling in the Baghdad markets”
What does that mean? It means the dollar doesn’t buy as much dinar. They are very excited with the resignation of Muhammid Allowi. He has been a stickler in the side of allowing this to move forward. He has resigned…We are looking at big happenings over the next 18 hours or so I Iraq…It is very exciting to see what is going on there. The markets there are already responding by weakening the US dollar and strengthening the Iraqi dinar. This is big news guys.
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Samson (KTFA)
Article:
“The Central Bank is silent”
.. Economists diagnose “disasters” in the currency auction, and beneficiaries: inaccurate“
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MilitiaMan (KTFA)
CBI told us the 08/15/2022 all banks must be hooked up to the new electronic platform. Why would they need a new platform if they were going to stick around at a 1460 rate? They wouldn’t.. The next stage is going to the private sector…GOI put out all the educational videos over the last week or two.. All for the next stage.. imo
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Kaperoni
The prime minister’s advisor Al-Jubouri had a great comment today on the dinar, basically saying that the government cannot make a random decision that only supply and demand will increase its value. In other words Iraq’s economy needs to grow and they need to float the dinar.
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Samson (KTFA)
Article:
“The Minister of Finance submits his resignation, and Al-Kazemi agrees“
Article:
“Al-Kazemi assigns the Minister of Oil the duties of the Ministry of Finance as an agency“
Quote:
“…the decision to assign it will be temporary, and it came after the approval of the resignation of Finance Minister Ali Allawi.”
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Paulette
IMO “Auctions” stopped years ago and they were transformed to “Currency Sales”….Currently, the Currency Sales are predominantly to cover imports and secondarily to provide adequate USD in the country to keep the rate stable. This is true supply and demand.
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Pimpy
A floating rate? I would love to see that. That means the Iraqi dinar would be on the Forex. It’s not there currently but…we would really see then what the true value of the Iraq dinar is because it’ll be dictated by the market.
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Sandy Ingram
Article:
“Iraq Planning Increased Oil Production in “Coming Years“
The First Vice President of the Iraqi National Oil Company said that oil production in Iraq can be increased to 5 to 8 million barrels per day during the coming years…Oil prices dropped slightly on last Tuesday over the potential of Iran oil reaching the global markets. This has to do with the Iran nuclear deal.
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Clare (KTFA)
Article:
“The Governor of the Central Bank of Iraq receives the head of the Iraqi Media Network“
WHY? I WOULD IMAGINE BECAUSE THEY ARE GETTING READY FOR THE RELEASE OF A BIG MEDIA CAMPAIGN ABOUT CHANGES COMING FROM THE CBI…
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Frank26 (KTFA)
The CBI is not waiting on the GOI. The GOI needs to sit down. Once they sit down then you’ll see a ‘confidence’…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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