Dinarland Highlights – 9.28.22
Mountain Goat
…There has to be some good news…right? “When the CBI talks I listen” and they have been talking a lot about the dinar as of lately. So, just recently the Central Bank talks about the possibility of changing the price of the dollar and intends to issue a new category of currency a 20,000 dinar note.
Really?…This is one of those WOW articles… Is this good news or bad news?
Why issue a 20,000 dinar note? It does not make any sense unless they are going to use it in place of the ever popular the 25,000 note. This could be a very good sign, a small indication that they are slowly moving to lower denominations but not fast enough as we want…
There is talk that this new note may not happen under pressure by the IMF and to complete the project to delete the zeros instead and issue the lower denominations we are looking for. Once again in the same article the CBI talks about this project to delete the zeros too and tells us it is still on the back burner and they recognize it needs to be done but under the right conditions…
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Samson (KTFA)
Article:
“The Central Bank intends to issue a banknote of 20 thousand dinars“
Quote:
“there is a previous project submitted by the Central Bank regarding the process of deleting zeros, noting that this matter needs to legislate a law and this project requires some amendments, and that the pursuit of this law needs to stabilize the situation in the country and the atmosphere must be provided to accept such transactions.“
Article:
“Governor: The Central Bank has played a major role in revitalizing the Iraqi economy over the past years”
Quote:
“The Governor of the Central Bank, Mustafa Ghaleb Makheef, confirmed…the banking sector in Iraq is looking forward to increasing cooperation with the banking sectors in other countries and exchanging experiences between them in a way that serves both sides”
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MarkZ
[via PDK]
From [Guru] Sheila:
“…The global currencies against the Us dollar did happen on the 24th…the IQD announcement was on the 22nd. All at the emergency UN meeting.“
So it sounds like to me she is of the belief that this has indeed already occurred…and we are simply watching it all play out and waiting for our announcements …That would certainly fit with some of the other news that we are hearing.
Article:
“Iraq’s political class must address “crisis of trust” the PM says”
A key paragraph says “The change in the exchange rate that we conducted in Iraq was one of the most successful alterations and modifications of the national currency exchange rate models in the world. It happened without serious repercussions…”
Guys they are telling us they have DONE this…I think they are keeping it from us and under wraps as it rolls through the banking system…curious timing…We could wake up to a whole new world tomorrow. We know we are very close no matter what.
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Pimpy
Article:
“The central bank reveals a new denomination of currency and is working on issuing a digital one”
Here’s what everybody’s making a big hoopla about…Two things for us who have invested into the Iraqi dinar. I am concerned about the deleting of the zeros. All that means is that the current value of the currency carries over if they go to a lower denomination. We don’t want that.
My other concern is that it’s going to a digital version of the currency…what approach they take on deleting their zeros is going to be very interesting to see…What I think I’m gonna do is look into swapping my 25,000, 50,000 and 10,000 dinars and trying to pick up the 250 dinar…this way if they do the deletion of the zeros I can’t imagine it affecting the lower denominations. I might be wrong but we will soon find out.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: My bank friend feels the only next step is the training completion to the citizens followed by Iraq returning to the rate of the glory days…it just seems the education on deleting the three zeros is only thing needed to be done.
FRANK: That is the first time your bank friend has fully opened up to you…the education to the citizens is crucial and that’s what the CBI has been doing all year…he knows as soon as these political issues are over with and Kazemi sits his government, we have a new exchange rate…
Article:
“An economist explains how to control the currency sale auction”
A CBI economist explains to the citizens what the CBI explained to the citizens already… 1-1 on par leading to a depeg, to a RV Float. The auctions are ours says Kazemi!
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Kaperoni
Central Bank of Iraq held a forum… They confirmed if they delete the zeros they require a law from Parliament to authorize. This is a clear indication that deleting the zeros is a neutral event LOP. Traditional monetary policies do not require Parliament authorization. They also announced the imminent launch of a 20,000 dinar note. This could be used to reduce the money supply or is just filling the need in the market since the dinar has been devalued.
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Nader From The Mid East
Nobody’s happy about the news from yesterday by the CBI when they come out with this article that they have no intention to change the exchange rate. But I think they’re going to change it…they have not choice…they’re gonna take all the zeros out. The 20,000 become 20…
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Bruce (The Big Call)
[via WiserNow]
Iraq seems to have their mess together… seems to be ready to go and have put out a rate and they’re ready to start…It’s happening in other countries as well…The other thing that is happening, the redemption centers are getting…a permanent 12 day schedule for our exchanges. That schedule I’m being told today is to start at 11 o’clock [today, Wednesday]…I’m also hearing from other sources…that we’re looking to get something to start over the next three days – that would be Wednesday, Thursday or Friday.
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Walkingstick (KTFA)
[via Frank26]
When Iraqi citizens go to a satellite bank here in the United States they will have their three zero notes they will be exchanged for American dollars. They will have a windfall compared to the citizens that live inside of Iraq …so they’re not going to get any new small category notes? Not in the United States . They’re going to get American dollars. At the new rate? Yes.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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