Dinarland Highlights – 10.31.22
We’re saying goodbye to Al- Kazemi …[he] turned over all control and powers to the new prime minister Al-Sudani... in his speech you could tell that his is preparing himself for which is to come and that is the coordination framework is definitely going to go after him. They’re going to accuse him of being corrupt…and try to charge him. Maliki is not thrilled about that fact Al-Kazemi attempted to investigate him…Al-Kazemi is already restricted from being able to leave the country.
All the chitter-chatter about the change of the Iraqi dinar exchange rate, it’s just all talk for now. Once the government…start to do their jobs we’ll find out quickly within a couple weeks, maybe even a month at the very latest if they were sincere about changing the exchange rate. I would imagine when it comes to Maliki and his sidekick they are looking forward to changing the rate back because that’s how they make quick money. My guess is it’s definitely going to be one of their priorities…
[When all we hear about is Iraq- What makes you think the other currencies will go too?]
The only reason we hear so much about Iraq is they are the canary in the coal mine…. It’s the easiest one to track. But there is a lot of pressure for the dong and others to go at the same time.
Interesting stuff over the weekend. A huge amount of chatter from the redemption centers about them starting work today. I don’t have an update today but as of yesterday they had a huge hopes for the possibility of starting as early as today…this is exciting. There is interesting stuff coming out of Iraq. And some back and forth stuff from Iraq… the reality that nobody knows the exact timing.
“A leader in the framework: The dollar exchange rate will be reviewed within 60 days“
“Studying the issue of re-exchange of the dollar is one of the priorities of the Sudanese government.“
There are two ways of looking at the 3-zeros…What happens when they say, ‘we’re going to drop the 3-zeros?‘ Do you think they’re going to get a pair of scissor and they’re gonna cut that out [the 3 zeros on a 25000 note]? There’s your 25? …When you drop the 3-zeros from the exchange rate [.0008569] you’re left with .85…When you take your physical 3-zero notes 25,000, 10,000, 5000, 1,000…they’re not just gonna cut them [the zeros] out.
They’re going exchange them for the rate …and give it to you in your savings account. When you drop the 3-zeros, you drop them off the exchange rate [.0008569 becomes .8569]. That’s very close to being 1 to 1 right there…’but Frank I got a 25K note and if they drop the 3-zeros and it’s 1 to 1 then a 25K is $25,000…and because I live outside of Iraq I can exchange it for the international rate. That’s how I get my capital gains.‘ Yeah!
“The European Union for the Sudanese: We support the implementation of the announced reform program and the fight against corruption”
SO DOES GERMANY, SO DOES THE UK, THE USA, SAUDI ARABIA, CHINA, EGYPT, JORDAN, TURKEY, KUWAIT, SOUTH KOREA, EVERYBODY IN THE WORLD SUPPORTS WHAT IRAQ IS DOING.
There are only two options for Iraq pertaining to the dinar. They either redenominate/LOP reducing the currency from trillions to billions which is a neutral event no gain/profit or they gradually raise it over several years as the economy grows reducing the money supply.
Nader From The Mid East
About the exchange rate – you see it back and forth, back and forth. One day yes. One day no…One day the CBI comes and goes, ‘We’re ready to change…’ and other one comes out and goes, ‘It’s going to hurt the economy if we do this and that…’ Whatever you hear from anybody, I’m not gonna say it’s bullshit but it’s just a guess… Nobody knows what’s gonna happen…me, I say the solution is put it 1 to 1. Let’s see what happens. If it works good, you can go up. If it works bad, go back down…I think it’s going help the economy…because you don’t have to deal with million and million of dinars…
“Al-Sudani meets with the Governor of the Central Bank“
VERY IMPORTANT IMO!
“Taif Sami assumes her duties as Minister of Finance”
We have the Finance Minster all set and ready to get financial work off and running under the new government. Good deal, she will be working in tandem with the Central Bank. What timing…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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