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Dinarland Highlights – 12.13.22
Pimpy
Yes, I hear there’s still more chitter-chatter about the exchange rate and yes there’s a lot of misinformation still going on out there about the Iraqi dinar…the full exchange rate being reinstated – that’s not the case. The talk…is about them going back to the old rate of 1199 per dollar. The Hydrocarbon Law – has not been signed…It was agreed upon in 2007 but…the Iraqi Supreme Court struck it down…and they have been renegotiating…The statement that the whole world is pushing/forcing Iraq to change their exchange rate is inaccurate. Countries don’t usually get involved with people’s exchange rate unless you’re trying to manipulate them and that’s not the case with Iraq.
Article:
“The Central Bank receives the remaining amount from the Kuwait Compensation Fund“
This right here is big news and I mean BIG news. We know Iraq was released from United Nations Security Council’s chapter VII but…they had to finish compensation to Kuwait…looks like the last payment is finally here…That has been satisfied. This is great news and a major step forward for Iraq in order to be recognized on the international scene and to help remove restrictions off their currency…This is awesome. This is big.
There’s something I’m noticing that’s making me very suspicious about this whole Iraqi dinar exchange rate fiasco that’s going on…Seems to me like people are purposely out there starting rumors to cause the devaluation of the Iraqi dinar so these [c*****t] people could purchase more of them so when a times comes and a real rate change has taken place they could benefit from it.
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MarkZ
[via PDK]
[If our rate is already established through the terms of the treaty why are we concerned about the float?]
We won’t know until Iraq goes international and are officially on the float…And officially an internationally traded currency. If they go to a float…all your banks will suddenly start taking it. I still hope it comes out fixed and not a float.
Article:
”Central bank : the cash reserve has reached its highest level in the history of the state.”
We are talking even higher then with Saadam Hussein in its hayday… Right now they are sitting on more cash reserves than at any other time in this countries history… They have exceeded $90 billion dollars in US value…and its just sitting there…unused…and ready to roll…. This is one of the few countries in the world whose economies are not “in the hole” so to speak. …the author Al Yasari is one of those with Sudani that specifically mentions that the change in the exchange value is the best way to help the poor and under performing classes.
…I was told that if they come out at a float the banks will be offering us multicurrency accounts for us to deposit in when we exchange. Then we wait…and watch and decide when its high enough …or pull out what we need. I am not in the least bit worried about it.
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Paulette (KTFA)
Article:
“The “Finance” expects the Iraqi government’s vote on the budget: Parliament’s approval of it will take about two months“
this is the perfect scenario!!!! This is exactly what I posted and is PERFECTLY congruent with what we should all be hopeful.
As long as the “restructure” happens and the CBI stands by what they have said in the past and as recently as a few weeks ago that no denominations will be withdrawn and that the 3 zero’s will coexist for at least 2 years and upwards of 10 years, we will be very happy when this occurs.
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Frank26 (KTFA)
They [Iraq] will reinstitute their currency and then they will reinstate it. Pretty cool…they are doing this for the world market consumers. The World Bank and the IMF has made sure they have done this…To reinstitute the currency is what you are seeing but then it’s going to float…the float increases the value of the dinar. That’s an RV…
Article:
“The application of international trade exchange for the Middle East transforms Iraq into an “electronic financial exchange center“
Float here we come! How many time have I told you Iraq will become a financial hub?
Quote:
“The pioneering services will provide new horizons for the Iraqi market in ten foreign currencies, including the US dollar and the Iraqi dinar.“
I’m extremely happy…
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Clare (KTFA)
Article:
“The Central Bank receives the remaining amount from the Kuwait Compensation Fund“
Quote:
“Iraq revealed in 2021 that it had terminated all necessary banking arrangements with the US Federal Reserve Bank to stop the automatic deduction of Kuwait’s compensation from Iraqi crude oil export revenues, after paying the full remaining amount of compensation“
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Walkingstick (KTFA)
[via Frank26]
The budget is voted into law in parliament. Then it sent to the president of the republic for his John Hancock…then ta-da it’s official.But if it’s not sent to the president…then what happens? It becomes law automatically without the signature of the president of the republic within 15 days of receipt...
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MilitiaMan (KTFA)
Article:
“Blue to Debut a Fintech Super App for Iraq and the Middle East“
This news out is massive. Iraq is going international before our very eyes….They tell us they will be able to top up accounts in the Bluepay app on mobile phones. Trade USA Listed Stocks and all approved by the Central Bank of Iraq. They can do that with both the USD and the IQD and then exchange their balances with 10 other countries. Wow…Multi – currency capabilities with the USD, the Yaun, IRAQ DINAR, etc, etc.. Soon to be Saudi Arabia too. For those that have been on the fence about Iraq ever going international, you can rest assured now we have been spot on.
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Sandy Ingram
Breaking news out of Iraq. This is what we’ve been waiting on – Insight into Iraq’s plans. Article “First Iraqi Bank Announces Iraq’s Fully Digital Bank, Gears for a Cashless Economy in the Country” …Each customer will be assigned an IBAN (International Bank Account Number) to allow cross-border transactions…the article did not mention an RV…the key question is will you need to be an Iraqi citizen or have Iraqi identification to open up a bank account. I don’t know yet…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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