Dinarland Highlights – 11.3.22
Bruce (The Big Call)
…we got…information that kind of puts us in the right place at the right time. We know that since the 15th of October, Iraqis have exchanged older high value dinars for low denomination new Iraqi dinar…you know, 5‘s 10s 20s 50s and hundreds…we saw where the Iraqis could exchange in Rashid bank and possibly other banks their high dinar notes 25k…And…10k dinar notes for the equivalent in US dollars, which yesterday was on a one to one exchange rate, or on par with the US dollar in Iraq one to one – $1 For one dinar…Now, our rates on our screens in the redemption centers are going to show us much more favorably than that…we talked about what Dr Shabibi projected way back in 2012…we could have that…or even higher than that…let’s…see what…Thursday brings for us.
“Iraqi premier to raise Iraqi dinar value“
WTF!?! What The Frank!?! Ring a ding ding… Hello new prime minister can I help you… yeah bro you got my permission let’s go!
“Iraqi government with the help of the Central Bank of Iraq, do its best to increase the price of Iraqi dinar against US dollar“
Finally, a translation that’s true. This is the proper way to say this!
“Expectations of an unprecedented budget for Iraq in 2023“
THE 2023 BUDGET IS EXTREMELY LARGE AND EXTREMELY HISTORICAL…AND THE PROGRAM RATE IS NOWHERE NEAR IT.
“The World Bank: The policy of changing the dollar exchange rate is the prerogative of the Iraqi government”
“Announcement of a tender for the supply of currency counting and sorting machines“
“The Central Bank of Iraq announces a tender for the processing of currency counting and sorting machines, according to the technical specifications and conditions contained in the sixth section of the standard document for the processing of goods.”
[Do you think there is anyway the RV won’t occur?]
Absolutely not. There is a lot of pressure-especially from 2 of the major banks for us to NOT release anything on timing. Some of the dinar sites are getting constant attacks. Viruses…to take down news aggregating sites…My banking sources think we are very close…You may start seeing gurus, or intel folks disappear for awhile or get oddly quiet because of the pressure….and that’s ok…because we are close…Myself and others have been leaned on to be quiet over the last 12 hours…specifically about timing.
The chatter has been great from Iraq. They are going after some of the top corrupt officials in Iraq now. I am still being leaned on not to share date specific things. It definitely appears to be very close.
“The World Bank: The policy of changing the dollar exchange rate is the prerogative of the Iraqi government“
The World Bank looks to be giving the green light on the policy of changing the dollar exchange rate. It is the Iraqi Governments prerogative.. The Article 110 of the constitution talks about this. No doubt this is giving the GOI support to get on with reforms..
“Bank of Jordan opens its first branch in Iraq“
Jordan opening a bank branch is likely for that they know there is going to be massive trade. Opportunities will abound like ever before in the 60 years they have been doing business. Iraq will be a central hub and Jordan would know that and is acting on that fact now.. A good thing…
If they do change the rate, there’s no doubt that at the very least they’re going to change it back to the 1190 which was the previous rate. That’s like a 22% or 27% increase in value…if it jumped up to a $3.22 rate you’re talking about a 4000% increase in value. That’s just not going to happen. I’m not saying it can’t get to $3.22 but it’s not going to happen instantaneously.
The 8th fastest growing economy, $9 billion a month in sales, a possible $200 billion in surplus money. It just seems like Iraq is teetering right on the edge of finally getting back on track and being a great nation and ready to do business internationally. I’m looking forward to it and it’s going to benefit the Iraqi people…if they prosper then hopefully…their currency will increase in value…
Remember, the Central Bank of Iraq reduced the exchange rate almost 2 years ago from 1170 to 1460 for several reasons including saving money, raising reserves, but most importantly to create an environment to encourage the private sector. That’s not going to change anytime soon.
Nader From The Mid East
My opinion is if the CBI does anything with it [the dinar rate] it’s going to be in 2023. Everybody’s gonna have to be patient. You have no choice…that’s the truth of it…sometimes the truth hurts. The truth is brutal sometimes. It’s brutal but you have to accept it…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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