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Dinarland Highlights for January 6, 2023

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Dinarland Highlights – 1.6.23

Mountain Goat

Article:
FOR THE FIRST TIME, CENTRAL BANK SALES ARE DEVOID OF FOREIGN REMITTANCES

Quote:
the central bank sold today, during its auction for buying and selling US dollars, 43 million and 500 thousand dollars…”

They have told us Iraq needs about 60 million in currency auctions sales a week to meet the demand of the Iraq economy. So this sales is just about where they expect it.   Also this time the auctions sold only CASH and no large electronic transfers…

Did they finally get it under control using the new platform installed by the US Treasury?   Remember it was going over 200 million most weeks and the difference was being stolen and not part of the economy…To me this is very good news…It matters in stabilizing the monetary system of Iraq. We need this before they will pull the trigger on any reinstatement. When the CBI says they need ‘stability” this is all part of it. 

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Sandy Ingram

This is an extremely important lesson and real case study of the Central Bank of Egypt’s decision to float the currency.  We are sharing this information so you know what to expect or not expect should and when Iraq floats their currency…Floating a currency… means the government is no longer controlling the value of the Egyptian pound…For decades the Egyptian currency was pegged…it could only go up or down based upon the fluctuations of the U.S. dollar…Then Egypt needed a loan from the IMF

One of the conditions required Egypt to float their currency…the immediate results were high prices and…a sudden widening of the exchange rate between…the black market and the Central Bank of Egypt’s currency rate…The value of the Egyptian pound dropped by nearly 50% last Thursday however in the long term it is hoped…floating the currency will control inflation…Egypt has been running desperately short of foreign currency.  Iraq does not have this problem…Iraq foreign currency reserve is now over $96 billion...

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MarkZ

[via PDK]

There has been no new RV news since yesterday evening.   Everything still appears to be moving forward. Groups are still finishing any paperwork submissions they need by this evening. Everyone is still looking for a release around the 9th….so it still looks good.

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Nader From The Mid East

The only way for you to be comfortable and say okay it’s time or it’s close is when you see him change currency.  When you see him [CBI] come out with a new currency and stop buying and selling the dinar…

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Walkingstick (KTFA)

[via Frank26]

Don’t think for one moment that the float is going to go into a ridiculous number like $5, $6, or $7.  No.  Absolutely not…the CBI is in control not out of control… bands/measures will continue to keep the Iraqi dinar as it floats within a disciplined  form… +/- 3% with a predetermined exchange rate as a goal…don’t think that it’s going to go higher than other Middle Eastern countries.

the 3-zeros are going to drop gradually as the IQD floats internationally.  You will see the exchange rate go from .000 to .00 to .0 to . – that’s the float.

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Clare (KTFA)

Article:
Minister of Oil: We have achieved more than $115 billion in exporting crude oil for the year 2022

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Pimpy

The re-denomination of the Iraqi dinar…too much crap has happened with the Iraqi dinar for it to continue to exist in its current state.  Something needs to be done about that.

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Bruce (The Big Call)

[via WiserNow]

…this is what we’re hearing…Bondholders… it’s important that we know when the bondholders are actually going to be paid because it should trigger virtually a shotgun start with us.  It could be within hours of when we get notified …When will the notifications come to us?  Probably Monday…we got a good shot of getting our exchanges started Monday evening…If it’s later in the day, on Monday that we get our notifications…we’re automatically defaulted  to Tuesday, for our start of exchanges…So I’m excited about where this is going. I hope this is the end of the ride.

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Kaperoni

Question:
Iraq has 80 trillion dinars idle….Just a question….how can it Reinstate at 1-1 with all of that?  That is a huge load of them isnt it?”

…The latest articles I’ve seen from the Ministry of Finance indicate Iraq has over 100 trillion dinar in circulation. Even if it was less it’s still significantly more than Iraq could ever afford to RV...

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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