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Dinarland Highlights for October 5, 2022

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Dinarland Highlights – 10.5.22

Breitling

The timing [of a rate change] has to do with markets.  Right now Iraq is making a ton of money selling oil

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Frank26 (KTFA)

[Iraq boots-on-the-ground report]

FIREFLY: Bank friend said there’s no way Kazemi is doing these deals internationally with countries on trade and banking without a previous discussion about Iraq’s rate.  No way this can come about at a program rate.  Something behind the scenes has been going on for a long time…we see foreign reserves at all time high…That will make it [the dinar] even stronger to revalue because we have the high reserve rate of the dollar...

FRANK: It all points to something major…

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MilitiaMan (KTFA)

Article:
Deputy: Reducing the price of the dollar will be a top priority for the new government

Reverting back to 1190 is not reverting back to an era that was internationally acceptable nor Article VIII compliant with the IMF.   Having small category denominations doesn’t work with program rates. The CBI didn’t print new currency issuances in 2018 to throw them in the trash..  They intend to use them…

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Mountain Goat

I know for a FACT that the project to delete the zeros is “on the table” meaning that the Central Bank has it on their plate to finally complete this project and issue the lower of the lower denominations besides the 250, 500 and 1000 notes already in circulation.  But they need legislation to do it thus they need a new functional government in place and a Financial Ministry and Financial Committee that supports doing the project and allocating funding to do it…There are also risks involved in undertaking any such project…

…so the politicians in charge as a result of this election saga will have to be willing to take this risk and go ahead with it. …this will prevent much of the ongoing corruption and theft of the CBI reserves from the Central Bank. In other words they will lose their golden goose that lays the golden eggs, in other words we cannot have newly elected politicians who are in on this same old game of theft… But the good news…is we are here now and all this corruption and those doing it are being exposed and challenged and so this is the time of change and it is coming

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MarkZ

[via PDK]

Iraq is very quiet but they did auction off $263 million dollars of foreign currency yesterday that is not theirs….in other words they are using foreign currency to buy and get more dinar off the streets. I think this is a very positive sign for us right now…They are clearly expecting something or they would not be spending millions to limit the amount of their own currency on the streets. Imo

There is a lot of information coming in from redemption areas like Reno, Miami, Zurich…They are still extremely hopeful for today and the next few coming days. They were told folks are working around the clock and scrambling to get it out…. I have been getting emails, calls and texts today about how close they believe we are…  I was told there is a good chance (…a big chance) right now, because Iraq continues to have issues getting across the finish line…that they may go ahead and release all BUT IRAQ…

This is the opposite of what we were told in the past…but, it is a rumor worth mentioning. And this is a big rumor right now in redemption areas that the other currencies would go now and Iraq would follow in a few short weeks. And they would freeze all currency purchases to keep us all from double dipping…if true it is exciting….

[So the dong may go before the dinar?]

That is the rumor out there today… 

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Bruce (The Big Call)

[via WiserNow]

…the Iraqi dinar…rate was out. And it was out for Iraqi Americans in this country in four states and to exchange their dinar here…in four states redemption centers that were opened specifically to exchange them yesterday…that was in Michigan, and Indiana -Texas and Florida…and that was through Wells Fargo…In addition to that there were 19 countries with HSBC banks,  exchanging Iraqi dual citizens in those countries… And we know roughly what rate they exchanged that I’m not at liberty to discuss that…but I believe that we’re next…I’m not calling it – but I’m very close to it right now

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Samson (KTFA)

Article:
“The appearance of Muhammad Salih : Issuing a new denomination of currency .. Improving the efficiency of the monetary system”

Quote:
…the Governor of the Central Bank, Ghaleb Mukhaif, said in a press statement: We are currently working on completing the design of a new currency of 20 thousand dinars, after a series of practical studies to unify the Iraqi currency, and it will be announced after completing its printing in the future.”

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Pimpy

Article:
“Central Bank reserves exceed the ceiling of 87 billion dollars”

When it comes to talking about changing the Iraqi exchange rate this of course contributes to it in a big way.  This is awesome for Iraq .  That’s a huge part of the exchange rate change.  The more reserves you have the more you’re able to protect the value of your currency…

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Sandy Ingram

There is a global concern that there will be less demand for crude oil in the near future due to the economy stagnating…OPEC will meet on the 5th of this month which is in a couple of days.  It is expected OPEC will cut production of crude oil…Be aware of a bumpy road for Iraq who depends heavily on oil revenue…this means as investors we too are in for a bumpy ride when it comes to currency revaluation…

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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