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Dinarland Highlights – 1.3.23
MarkZ
[via PDK]
“Sudani: Exchange Rate Fluctuations and their impact made us stick to the inevitability of economic reform”
They talk about needing to push forward quickly with the reforms and can no longer kick the can on this. They will address it by stabilization, rate and increasing non state related industries. They want to become a juggernaut through trade…and not just oil.
…What we are hearing from the banking side of this…I got one great message overnight that simply said “S*** has started”…I am hearing very positive things that the ball has started rolling last night…but, I don’t know what that means for us timing wise…yet. I am getting positive feedback from meetings with no specifics… We didn’t get the smoking gun overnight we hoped for but I am not worried as we are starting to see steady progress.
Many articles out showing Iraq is positioned to move into the world scene. Have you ever seen a country move onto the world scene as an economic powerhouse that has a currency worth nothing??? Well there isn’t one.
…We are hearing all kinds of stuff from banks all around the world. I cannot tell you how many folks today in our contacts received calls today saying “Hey, you can exchange dong…the Vietnamese dong just showed up on the exchange rate at (?) Then 10 minutes later calls saying don’t go to the banks… There are reports from Columbia and Brazil, South and Central America that they have started the process or about to start the process. We are starting to see (without a hold) rates show up on screens. The problem is sitting right in front of them at the moment the rate shows up…they are popping in and popping out…. It is frustrating today for many on the banking side.
I believe they are doing a final test of the system to make sure they have everything working properly…The rate we saw pop up most commonly for the Vietnamese dong was $1.39…this doesn’t mean this is what the final rate will be. There is an interesting ping pong going on with foreign currency rates right now. We are getting a lot of fantastic chatter right now…especially from international paymasters. South and Central America specifically. It’s exciting to see movement…but, I don’t know how close we are. I know the group leaders are still in meetings on logistics …or final logistics…just not a firm handle on “when”.
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Nader From The Mid East
What Iraq is going through is not easy. You have to…go there and see it for yourself…don’t be scare, walk to the mosque…find an Iraq guy or lady…ask them yourself, say, ‘Hey what do you think about Iraq?‘ They’re going to tell you it’s getting worse and worse by the day…it’s not getting better. Even with the sales of oil and private sector getting better…but the people has no money. Don’t believe people when they say they have stack of money in their homes. No, we don’t have them…
My opinion the country can be fixed yes. The dinar can goes up yes…[but] people all over the world are holding 70 trillion dinars in their hands. Cash. …Some of you own 1 million…10 million…50 million…IMO as long as we have too much cash…the dinar is not gonna gain values…
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Yada (TNT)
[I wish I could find evidence that the dinar is no longer pegged to the US dollar but I can’t. Can anyone help?]
The evidence is in front of you. The fluctuation of the dinar and dollar the past 15 days was it. It had never move this much prior to this because it wasnt, it was moving up and down. And going forward, the Float in itself is proof.
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Pimpy
There are some games being played with the Iraqi dinar and it looks like Al-Sudani is looking for ways to put a stop to this. I really think it’s a cat and mouse game between America and China and Iraq’s right in the middle of it.
Is it going to be possible that the HCL issue is going to be signed in 2023? I think you’re going to have it done within the first 2 months…That is a major major obstacle in our way with the change in the exchange rate.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Banks have been open the last two days to sell dollars to citizens. This looks good because they are collecting 3 zero notes!
FIREFLY: They are talking on TV about what is a currency float and what are the advantages to us Iraqi citizens…why even tell us that if you’re going to stay at a program rate of 1450?
FRANK: I love it when a plan comes together! …everything is on course…it may look like you’re going to stay at 1460 but none of that is true…it is time to tell you about the float because that is inches away…
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Clare (KTFA)
Article:
“In numbers, the central bank reserves increased by 46% of the foreign currency“
Quote:
“The central bank’s reserves amounted to 96 billion US dollars, an annual increase of 46%, and the value of the cash currency exported increased to reach more than 84 trillion Iraqi dinars, an annual increase of 10%. %“
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KandG (KTFA)
Article:
“What is meant by currency float? What are its advantages and disadvantages?“
Very interesting to see an article such as this – WHY would you ever talk about a float – to educate the Iraqi citizens maybe? – maybe you have just told on yourself on what you are doing?
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MilitiaMan (KTFA)
Article:
“International Standards in Banking with the CBI“
Quote:
“facilitate the movement of banking transactions and trade exchange in accordance with international standards.”
What is not to like about this? Not only is the USA involved, China is too. Don’t forget that China has been added to the IMF SDR basket, first to be added in 50 years. So it is not surprising that China would be involved in some shape of form with Iraq.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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