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Dinarland Highlights – 12.12.22
RVAlready (TNT)
…If, indeed, their currency has depeged, we will have to see what the market thinks of their gold reserves, foreign currency and bond reserves, and GDP. It will take a bit for a new value to be established...Don’t be surprised if it does not jump right away. Iraq estimated 10 days for the price to stabilize. I’m guessing it should settle by December 20th…I’m hoping for $1 or $1.50 by December 20. We will see what happens.
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Nader From The Mid East
Article:
“Sunday, the Parliamentary Finance Committee announced the completion of the final touches of the budget and its transfer to the Prime Minister’s Office…”
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Frank26 (KTFA)
It has to play out exactly as we’re seeing it unfold. Everybody knew. You knew. I knew. Maybe some people pretended they didn’t know but the dinar is never going to come out at $3+. At least at 1 to 1 then you can de-peg…everyone knew it would be a gradual float then on the international market, for example Forex, the rate could return to $3+ range or above like other Middle Eastern countries around them. It’s a brilliant plan.
Question:
“How close are we?”
We’re as close as your dandruff is to your hair…we’re as close as your breath is to your lungs. We are very close in my opinion. We’ve been wanting to see the things that we’re seeing in print. That’s what puts us in a very positive mood and a good direction.
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Pimpy
Article Quote:
“Parliamentary Finance announces the completion of the touches of the budget and its transfer to the Sudanese office.“
Now that they have it and all the final touches are done, they handed it out to the House of Representatives. Even though they are on recess at the moment you could see a scenario in which if they have an opportunity to go ahead and pass this budget before the end of the year they will call an emergency session and vote on that sucker. It’d be a great way to start the new year.
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Clare (KTFA)
Article:
“The talk of the exchange rate invades the Iraqi sessions..and the currency auction is the window for whitening the dollar“
Quote:
“The talk of the exchange rate of the dollar has become the most prominent one being circulated by Iraqis who are disaffected by the continued escalation of prices.”
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MarkZ
[via PDK]
I think this one is a key piece for Iraq to be ready for the revaluation…
Article:
“The Central bank is launching an electronic platform for buying and selling the dollar next month.”
Reading between the lines I think this is an important step if they are going to handle a revaluation of some size to make sure these currencies are not questionable…that someone wont exchange millions in t*******t dollars. AND it will protect the rate for those at the bottom of the economic totem pole. I think this one is a serious “tell” for us and how close we are getting…A lot of phenominal things happened this weekend in Iraq. So I am very upbeat
We are expecting our taxes to be paid under a treaty…but all bets are off if Iraq does a float. We still expect no taxes on your transaction because it’s a currency exchange on foreign currency…as I understand it …but we will all be seeking advice from a lot of tax professionals if it floats instead of a full blown reset. Just be prepared.
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Paulette (KTFA)
IMSO, “restructuring” and “RI” are two separate events which could occur simultaneously or weeks apart. For many reasons, I believe it will be weeks apart. I have always believed that, ideally for the benefit of Iraq, “restructuring” will occur prior to Parliament passing the budget and the “RI” will occur after the Budget becomes law.
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Walkingstick (KTFA)
[via Frank26]
[Walkingstick’s Iraqi Bank partner/friend update]
WALKINGSTICK: Have you heard anything about the 20K notes?
BANK FRIEND: Yes they were assigned to us last month but there was never a firm commitment on the release of the 20K notes…so far we have no further update concerning the 20k.
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MilitiaMan (KTFA)
Article:
“The Iraqi Trade Bank announces the recovery of one trillion and 500 billion dinars“
The amount of funds being recovered to Iraq from c********n is staggering in totality. The trillions of dinars being returned will support their exchange rate internationally.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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