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Dinarland Highlights – 1.4.23
Clare (KTFA)
Article:
“Where are the Iraqi oil revenues deposited? Sudanese advisor answers”
Quote:
“Saleh said, “(Externally) and according to Security Council Resolution 1483 in May 2003, the revenues of the Ministry of Finance from crude oil, gas, exported derivatives, and other funds are deposited in the Federal Reserve Bank in New York, all of which are deposited in an account called DFI or its current alternative“
Article:
“Central Bank: Hard currency reserves amounted to more than $99 billion“
Quote:
“The rise in reserves is a positive indicator for the Iraqi government and the central bank for the stability of the exchange rate and the local currency“
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MarkZ
[via PDK]
Over the last few years we have seen expenditures to Delarue to print new currencies for them …we have seen new ATM’s and new banking equipment that is for different sized notes than those currently in circulation… So, I feel fairly confident the lower denominations already exist.
International contacts are really lighting up with expectations. I was told by a couple of them to watch historic bonds this week…this is it…That they are getting ready to pop completely…and then we are going to the bank. I think this could be it…I think we are in the short and skinny of it. …we do get confusing news out of Iraq…they are trying to cloud the RV release on purpose.
…the first reading of the 2023 budget is expected on the 9th. I am also told the HCL (hydrocarbon law) will be presented on the 9th. It does not mean we will be waiting for that. The CBI has made it very clear they do not have to wait for the government …and they can change the rate whenever they are prepared to.
Aircraft are flying in and out of Reno…Whales are there…Groups in mass…its crazy. But no money has changed hands though…yet. There is a massive influx of players arriving that are expecting full funding…it is really heating up. Still hearing phenomenal things from outside the US on exchange rates. Whales in other countries are also getting into position. Everyone is preparing for what seems to be the imminent release…Some of the biggest church groups are being called back in to their seats…I am hearing news every half hour today from contacts saying “We think this is finally it”… It’s been a very long time since we have seen this much excitement and movement…The news is fantastic.
Some of the big rates…the great rates rumored on the boards may be dead on. I may be the way way underestimating rates…based on numbers we are seeing right now…yes, I’m excited but trying to stay grounded. It’s getting exciting. But, everyone needs to remain calm. What happens if it does drag out to the 12th or so. We have got to stay calm. There may be a lot of smoke and more ups and downs…this may be a very tumultuous time…wait for the announcements. Be excited we are this close…but stay calm…Don’t ride that roller coaster…stay calm as we get through the final days of this theatre...
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: The big news is we finally heard news on when the budget will be in parliament…
FRANK: That’s wonderful news…I believe what Sudani is telling you…The monetary reform is moving very very quickly…
FIREFLY: Yes, within 2 weeks it will be inside parliament.
FRANK: If they truly stick to the schedule of two weeks then my trifecta might actually happen around that time – a seated/announced government, an announced and open budget for 2023 and a new exchange rate with new small category notes to match it…
Question:
“If Iraq keeps accumulating reserves why do they need to revalue?”
Because the reserves are not a countries currency. The reserves are a combination of many other countries’ currencies and assets and gold and whatever. The currency is what needs value not the assets. The assets add value/gives value to that which does not have value.
Question:
“Any word on when HCL/Article 140 will be passed?“
The moment you see the HCL you’ve got no choice but to see the new exchange rate. It is part of the calculations of it…
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Pimpy
There’s still a lot of stress happening over the exchange rate and it’s not what people think. I’m hearing all kinds of rumors out there that people are saying they’re fighting over the exchange rate increase to the original rate of $3.22. That’s not true. It’s not true at all...
Think supply and demand. If there is a ton of Iraqi dinar and very little U.S. dollars and people want the U.S. dollars then you know your currency is going to devalue against a dollar because they’re not very many of them available to the public. What do you do? You do the opposite. You’re going to flood the markets with the U.S. dollar and make the Iraqi dinar scarce causing the value of the dinar to go up...
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Nader From The Mid East
For now nothing’s happening. They keep talking about it but…IMO it’s gonna take time. I don’t think they’re ready. I don’t think the budget has a rate in it. Even if it has a rate in it it’s gonna go back to 1160. Even if it floats it’s not gonna gain values that quick because the currency is too big…
If they’re gonna make a small categories of currency, why they create a 20,000? We don’t need a 20,000. Create a 100…50…20…5…1 dinar…they created the 20,000 dinars means they’re not ready yet. That means the money’s still too big…IMO it’s going to go up yes. 1 to 1 maybe. $1.60 maybe. But first they have to come out with new smaller currency…1, 5, 10, 20, 50, 100 and maybe 500 dinars…
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Walkingstick (KTFA)
[via Frank26]
The insane reserves the CBI keeps talking about that is what’s going to allow the IQD to be asset backed. It’s not just oil. It’s all of their resourses. That’s what makes this currency have so much potential and everybody wants it. It’s amazing.
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PompeyPeter
[Cash Sales – Not Auctions. Big change in pattern.]
They are shifting away from a multi-currency practice to the dinar being the “Supreme currency”…currency exchange for travel and so on will be done throughout 20 banks. Was 4, then 10 and now 20…We are not seeing that nonsense [auctions] about hundreds of millions a day supporting other currencies abroad…It’s also wording ‘foreign currency selling window’, not talking about an auction now. That’s a huge change, an enormous change…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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