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Dinarland Highlights for September 27, 2022

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Dinarland Highlights – 9.27.22

MarkZ

[via PDK]

[Any dong news?]

…they are waiting on Iraq as well. Still being told around $2.25 for the value.

[Are you still hearing $4-$6 dollars on the dinar?]

Yes.

They they dropped a couple more articles about lower denoms…new bills and digital currency… They are working towards their reforms.

Article:
The central bank reveals a new denomination of the currency and is working on issuing a digital one

They are actively making moves to support their higher value.

[The only reason they would need lower denominations is if they were going to revalue.]

Exactly.

The chatter coming out of Iraq makes it clear what is happening. “Central Bank of Iraq: We are working on issuing a digital currency and deleting zeros from the dinar requires an atmosphere” Their goal is to change that value…deleting the zeros means the dinar goes up in value so you no longer need the big bills.  …2 years ago they came out with what they called the I-Dinar. This was their pilot program for this and the I-Dinar was to be a gold-backed digital currency. Then you have the polymer notes that represent the digital asset that is backed by gold. They have talked about this at length and now here we are watching it play out in today’s news. This is a big piece of information for us.

You can hang your hat on it that we are very, very close. For those that were panicking and thinking we were not going to go until January…If they are telling you January…they are going to go sooner than that…Remember Kuwait …they came out…and said they were not going to revalue for another 3-6 months…maybe 6-9 months…then they RV’d that very afternoon…we have seen so much in history that we know what they are doing. They are openly talking about a date. You know they have to do it before the dates they are talking about. BAM- that is something to be excited about.

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Samson (KTFA)

Article:
The central bank reveals a new denomination of the currency and is working on issuing a digital one

Quote:
the Governor of the Bank, Mustafa Ghaleb, said, We are working on a new currency, a category of 20 thousand dinars…We will start announcing the new category after completing its requirements…He stressed that there is no intention to reduce or change the exchange rate of the dollar against the Iraqi dinar.

Quote:
Iraq’s exit from the European Union’s list of high-risk countries gives support to the movement of the economy and the financial and banking sector…It is noteworthy that Iraq owns 7 categories of local currency issued by the Central Bank of Iraq are {250 dinars, 500 dinars, 1000 dinars, 5000 dinars, 10,000 dinars, 25000 dinars, and 50,000 dinars).

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Frank26 (KTFA)

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

FIREFLY: They showed an economist today being interviewed saying the government can control the currency auctions by making the dinar equal to the dollar or close to it…they say watch for government to make this move in the near future to control the currency auction once they sit

FRANK: The reason why the economist is talking to you about the dinar going 1 to 1 internationally is because the CBI already told you that…they told you they were going to go 1 to 1 and float…

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Pimpy

It’s going to take an act of Allah himself to come down into Iraq and get these two parties [Framework and Sadrists] to agree on something.  I just don’t see it happening.  It’s going to be interesting to see what happens to Iraq but as much as I try not to think of it this way I can’t help but think it’s just unavoidable, the Civil War is going to break out…

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RVAlready (TNT)

I can’t take the 20000 note and delay article to heart, because it runs contrary to what the CBI has been telling the banks for the last several months.

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Breitling

There’s plenty of evidence.  You have to understand markets.  They’re going to add value to their currency.  If anyone out there can find and article from the CBI, Ministry of Planning, Ministry of Finance or somebody IN parliament says, ‘No, we’re not going to add value to our currency.’  I’d like to see that because it does not exist...be happy.  Be positive…there’s no reasons for you to have any fear about this investment…

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Sandy Ingram

Article:
Iraq and the European Union.. Joint program in 5 sectors

The European Union confirmed on funding its quest to achieve decentralization in Iraq…European Union representatives [Barbara Iker]…pointed out Iraq has a huge oil wealth and on the other hand the people in all areas are playing catch up for basic service… Decentralization simply means that there is a substantial sharing of power, authority, financial resources and political support among federal, and local governments.

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Mountain Goat

Article:
THE CENTRAL BANK INTENDS TO ISSUE A NEW DENOMINATION OF THE IRAQI CURRENCY

This is one of those WOW articles… This is good news and this is bad news. Why issue a 20,000 dinar noteIt does not make any sense unless they are going to use it in place of ever popular the 25,000 note. This is a very good sign they are slowly moving to lower denominations but not fast enough as we want.

Why not just follow the economists and go 1:1 and save all this money of a new note?

Issue the lower denominations instead.

There is talk that this new note may not happen under pressure by the IMF to complete the project to delete the zeros instead and issue the lower denominations.

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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