Dinarland Highlights – 12.28.22
Pimpy
Is the Iraqi dinar a real investment? Yes.Are they going to change the rate overnight? Anything is possible but highly unlikely. There are too many factors right now keeping that from happening but I do think they are going are going to go up in small increments. The first one is going to bring us back to the old rate and I’m not talking about the $3.22 for every one dinar. I’m talking about the 1190 dinars for every $1…
Right now in Iraq the major news is…what the markets are determining is the value of the IQD versus the U.S. dollar. The IQD continues to lose value…this is why we saw some banks start allowing the Iraqi citizens to purchase dollars…I think I know what it is Iraq’s trying to do. They’re trying to purchase as many of the Iraqi dinars as possible to destroy them. You have less currency in circulation. Think supply and demand. The less you have of something that people want the more demand there is for it, the more valuable it becomes.
Articles are trying to tell people the exchange rate is not going to change over the next couple of years. Now, does that mean something won’t happen to cause that to happen earlier than later? Of course anything is possible. But this is what they’re saying for now.
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Frank26 (KTFA)
Article:
“The Central Bank of Iraq launches a package of measures to improve the performance of transactions related to the dollar“
Notice all they talk about is the exchange rate…against the dollar. The CBI is saying very plainly/clearly they have improved the transactions related to the dollar…they are ready to move on the international level. This is huge…Are you catching the pattern? Do you see these articles…Do they all connect together like Lego sets? Do they all talk about one thing and one thing only? Exchange rate. Monetary reform. The budget. Yeah.
FIREFLY: My bank friend…he agrees what we are seeing right now with the dinar prices moving up and then back down is the CBI actually doing a float now preparing for what is about to take place.
FRANK: This is powerful…
Wells Fargo got in trouble with me [years ago]…they sold me the Iraqi dinar. Then a few months later I went back to Wells Fargo and I said I’d like to buy some more Iraqi dinars and they told me ‘it’s a scam. It’s i-----l.‘ Well then let me talk to your legal department. ‘What for?‘ Because look at this receipt. I just bought some dinars from Wells Fargo last month and now you’re telling me it’s a scam. So you scammed me? ‘Oh, we don’t know anything.’ Of course you don’t…it’s my personal story…
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Clare (KTFA)
Article:
“After years of delay and disagreement, an agreement was reached by the “majority” to pass the oil and gas law”
Quote:
“there is a political agreement between all political blocs and parties to pass the oil and gas law because of its importance, with the start of the new legislative term of the House of Representatives.”
Article:
“Central Bank Governor: The measures taken will contribute to achieving monetary stability“
Quote:
“Wednesday, an emergency session of the Ministerial Council of Economy….The session was attended by the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, who reviewed the measures taken by the bank’s administration to control monetary policy, and limit the rise in the exchange rate of the dollar in the local markets.”
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MarkZ
[via PDK]
“USD/IQD Rate drops in Baghdad/Erbil”
starting to stabilize. This is from this morning. And will be allowing a float. This tells us we are very close to our full release. We were told a long time ago to expect this…and we are seeing it.
“Iraqi Finance stops appointments /transfers and bonuses until the approval of the 2023 budget”
They don’t want to let dinar out of their sight for some reason until the final approval of the 2023 budget. This is very interesting time. Why would they freeze this…Will it soon be worth more money? So they won’t spend more dinar….but they will spend USD…..i think this is a tell tale sign.
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Sandy Ingram
Why the IQD/USD exchange rate matters to people in Iraq – Iraqis who are paid in dollars have more purchasing power…people paid in dinars have less purchasing power since imports and exports are paid in dollars (including oil revenue)…the new prime minister of Iraq says he wants to increase the value of the Iraqi dinar…
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Walkingstick (KTFA)
[via Frank26]
It is the uncertainly that is driving the US exchange rate to change in Iraq right now. It’s all new to the Iraqi citizens…that uncertainty is what’s causing a fluctuation…
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Henig (KTFA)
Article:
“Economist: Central Bank policy failed and printed 40 trillion dinars of a new category“
Quote:
“He stressed that the strategic vision of monetary policy is wrong, and the Central Bank has printed 40 trillion dinars of the new paper currency of the category of 20 thousand dinars.“
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Paulette (KTFA)
Iraq’s CBI has clearly told us their plans to Re-denominate their currency including adding denominations all the way to 25 Fils (1/40th of an IQD). This logically requires a change in rate. As long as that new rate directly applies to the current notes, we will have the windfall we all hope for.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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