Dinarland Highlights – 12.3.22
Bruce (The Big Call)
…it appears that those of us in tier four B will receive our notifications – at this point – It looks more like overnight Sunday into Monday morning – set an appointment on Monday or changes to start on Tuesday…Now that’s where it is right now…Looking very good at this point. …Let’s see what happens – might not be anything until Monday. But you never know they could surprise us and bring something Saturday.
“In the document Al-Sudani presents candidates for the presidency of the House of Representatives for the two vacant ministries in his government”
“The Presidency of the Council decided to vote on the candidates in a session on Saturday.”
“The Iraqi Parliament completes the cabinet of the Sudanese government by granting confidence to two ministers”
“the Media Department of the House of Representatives stated that an absolute majority voted to grant confidence to the two ministers, and thus the ministerial cabinet of the current federal government headed by Prime Minister Mohamed Shia Al-Sudani has been completed.”
“The Central Reserve exceeded $90 billion, and revealed the date for offering the 20,000 class”
“the value of the Iraqi currency or the balance exceeded 160%, as the value of the Iraqi dinar amounted to more than one and a half dinars…He expected, The 20,000 dinars coin will be offered at the end of next year 2023.”
[Walkingstick’s Iraqi Bank partner/friend update]
Iraqi BANK FRIEND: When they announce the government of Iraq is finally seated the new budget will be introduced to parliament…The budget is a number of laws within a law. It is at that time that they will expose the laws. These laws will be read upon the receiving the budget to parliament. The reading of the budget laws by line item…will reveal the exchange rate.
Great news out of the sandbox… The Iraqi cabinet is nearly completely sat now. 2 key seatings have just occurred. It appears the entire cabinet will be done before the sun sets today…Now we just need “the” news we are looking for… There is a lot of speculation out there that we should then see our RV within a few days of the completion of this cabinet. At least that is the chatter. I do believe the CBI had been waiting to make sure the government of Iraq has their ducks in a row before they change that rate. The CBI is firmly in charge of changing the rate in Iraq. So to me the news is pretty exciting coming out of Iraq. We are seeing it all come together.
[Is NEER (Nominal Effective Exchange Rate) rate possible $1.60…or full RV? ($3+)]
The Neer rate is always possible…But, I am looking for the full RV or a reinstatement rate…The reinstatement rate would be around $3.20 something…unless they factor in inflation would make it considerably higher…
Notice how they constantly talk about the exchange rate. I don’t care if they deny it or once again repeat it. None of this is important…The most important thing is that they are talking about it and doing it. That is a pattern not to be ignored. Like I told you 2 weeks ago the CBI would be talking a lot from now on and they are aren’t they...
[Iraq boots-on-the-ground report]
FIREFLY: All the main banks in Iraq are saying they are keeping up with modern technology and…lined up with International standards and acceptance proceedings.
FRANK: Holy cow!
What happened between Kuwait and Iraq? August 2, 1990 Iraq invaded Kuwait. They occupied the country around October of 1990. Saddam Hussein told the people in Kuwait they had until October 3rd to exchange their Kuwaiti dinars for the Iraqi dinars. After that the Kuwait dinars wouldn’t have any value…Both currencies immediately were devalued. Kuwait’s dinar was devalued to protect it from being stolen and sold on the black market. Iraqi dinars were devalued because of the invasion.
The Iraqi dinar at the time was worth $3.22…Kuwait dinar…$3.45…internationally the currencies were not usable. Central banks refused to acknowledge the currency and therefore it had no value. The U.S. liberated Kuwait February 28, 1991 and shortly after Kuwait redenominated their currency. So it’s not so much the currency was revalued as much as it was re-denominated, which is different…I’m anticipating [Iraq] is going to do the same thing Kuwait did…you’ll be able to exchange your old dinars for the new dinars and they’ll just reinstate the rate.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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