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Dinarland Highlights for September 26, 2022

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Dinarland Highlights – 9.26.22

Fleming

They have had a new rate, they just haven’t published it…they have various reasons why they aren’t doing it…

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Samson (KTFA)

Article:
Parliamentary Finance: Reconsidering the dollar exchange rate is subject to political auctions

Quote:
Committee member Jamal Cougar told {Euphrates News} that “the issue of reconsidering the dollar exchange rate is not within the competence or powers of the Finance Committee, but it is related to the country’s financial policy and therefore it is affiliated with the executive body and from the executive body, and it is an exclusive issue related to the Ministry of Finance and the Central Bank.

Article:
Iraq ranks 11th globally and fourth in the Arab world among the cheapest countries in the world at gasoline prices

Quote:
The report indicated that “Venezuela ranked first in the world with the cheapest country in the world for gasoline at a price of 22 cents per liter, followed by Libya at 30 cents, and then Iran came third at 53 cents.”  He also noted that “the most expensive countries in the world at gasoline prices were Hong Kong at 2.967 per liter, followed by Zimbabwe at $2,750, and then Iceland at $2,270.”

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Frank26 (KTFA)

I’m looking forward to the government being announced…if we have a seated government, golly.  Let’s open up all the private banks around the world for the CBI…and then the dinar would just have to float.  It hitches a ride with the dollar at 1 to 1 but then it de-pegs from it and it will determine if it wants to go in a basket at that time or not.  I really don’t know if they will but they probably will when they mature it to the $3+ range and that won’t take long.  Everybody wants to take this pretty girl out on a date…

Question:
Are the satellite banks still on schedule for opening around the end of the month?”

Yeah.  Give it into the first week of next month too.  BTW because they open those banks does that mean that it would be a new exchange rate No.  Because American citizens can use it as well too.  When the new exchange rate for the Iraq dinar comes in, their main focus will kick in.  The main job of these satellite banks is to collect the three zeros that are hidden.

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MarkZ

[via PDK]

[Mark, can you address if Iraq has their new rate and if we are in a wait of 3-7 days?]

…my contacts in finance in Iraq have gone very quiet.  I think the 3-7 days may be accurate at this point…but I can’t verify it yet… I think this is going to be one of those weeks where we are minute to minute for news. We will be watching it non-stop…

The bond markets are in the middle of its worst decline since 1949. We are also watching the bond market implode. This is what we told to look for guys, at the end of this… The chatter is so overwhelming that exchanges are starting by Wednesday. Stay calm while we watch things happen over the next 24 hours. Again stay calm…we have heard this before.

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Pimpy

In order for anything to happen to a currency like the exchange rate change, you need stability in your country.  But what if your currency doesn’t just rely on the stability of your country but as well as others.  Anybody holding on to Iraqi dinar right now…if you think the exchange rate is going of change anytime soon it’s not.  Even if Iraq gets on track it’s not going to happen right away…

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David M. Witty

Iraqi parliament to convene on Wednesday to vote on accepting resignation of speaker of parliament.

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Kaperoni

In order for the Iraqi dinar to go up in value Iraqi needs to have a government, have parliament pass the needed legislation to encourage investment, then diversify their economy. As the GDP and the country’s economic success grows, so will the dinar.  And of course the longer this political stalemate continues the longer it will be will there before there will be any growth in the economy or change in the exchange rate.

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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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