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Dinarland Highlights for January 12, 2023

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Dinarland Highlights – 1.12.23

Mountain Goat

THE SUDANESE GOVERNMENT OBLIGES ALL OF ITS INSTITUTIONS TO DEAL IN THE IRAQI DINAR

It’s definitely a move in the right direction but still they need to create a demand for the dinar from outside of Iraq thus eliminate the need to exchange the dinar for dollars to spend on obligations and purchases outside of IraqThe pieces are all in place and so when will they pull the trigger?

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RVAlready (TNT)

Article:
Parliament publishes the agenda for next Saturday’s session

We must remember there is no requirement for the budget to RV. The CBI could launch the RV tomorrow morning.

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Walkingstick (KTFA)

[via Frank26]

Last week the Central Bank met with all of its banks and gave them more instructions.  In fact the article we call “the 2nd article from the CBI” that came out on Sunday telling the citizens we have a new currency, we have a new exchange rate we’re about to give it to you, was discussed in the CBI meetings last week with all the banks – preparing them, putting them in the position that they needed to be.

The United States [side] had its own zoom meeting yesterday with [Walkingstick’s former Firm’s  1 and 2 owned banks]…with all their employees.  Last week the meeting with the CBI was only with the [top] echelon, the owners and managers…now the managers yesterday had, well at least 1 and 2, had their meeting with their people, their employees…it’s basically the ending process of what the banks have to do right now to introduce the new exchange rate and to introduce the new currency to the citizens.  The education is pretty well set…

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MarkZ

[via PDK]

Iraq has been fairly quiet… I am being told that banks over there as well as here in the US and all over the world have been getting redemption instructions over the last day or two. So they will be prepared for when it does occur. We still don’t have a solid theory on timing.I do hear they are still trying to do it before the 31st. They are keeping the timing broad on purpose so nobody knows the timing. The chatter continues to be very encouraging. The movement continues to be very encouraging…

In Iraq news “Dollar prices decline in Baghdad and Erbil”  The US dollar started sliding in their local markets. For many years the rate did not slide…it did not move as it was pegged. We are watching this.

There is a lot of chatter about this evening on the banking side. I alluded to it last night. I think it may be premature by a couple days but we shall see. Tonight is highly possible according to some of my bank sources. They have seen interesting rates bouncing on the screens recently. The lower rate I gave you on the dong ($2.25-ish) may be inaccurate based on rates I heard this afternoon...they may be low. There is a chance though that we cross the finish line tonight. Again…it may be premature but I believe we are really close.

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Pimpy

Article:
A new rise.. The exchange rate of the dollar is close to 160,000 dinars

1,600 to 1 dollar is the wrong direction.  Nothing that I would be panicking about…[but] definitely in the wrong direction. 1,600 is not what we want per dollar.  The smaller that number gets the better it is for us…

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Frank26 (KTFA)

IMO based on the fact that they already told them they’re going to give them a new rate that would be compatible with the new currency that they’re going to give them.  They already told them about the float.  They already told them about the coins.  They already told them about the ATM machinesAre they still talking to the citizens and educating them all Yeah – ‘Go to this bank don’t go to that bank’ is one of the latest things they did…

The confidence in the float, you’ve got to find that yourself.  It will go out at 1.  For someone that says, ‘I’m going to wait until it goes up.‘  Fine.  If you’ve got a lot of dinars you can afford to do that.  If you don’t have a lot of dinars you can’t afford to do that IMO.  Are you listening?  I told you something without telling you.

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Henig (KTFA)

Article:
Iraq among most prominent countries to buy gold in 2022

Quote:
Gold reserves in Iraq represent 8.7 percent of its total international reserves…Regarding the largest Arab countries owning gold, Saudi Arabia continued to lead the list as it possesses 323.1 tons, followed by Lebanon with 286.8 tons, followed by Algeria with 173.6 tons, then Iraq with 130.3 tons, and then Egypt with 125.5 tons.”

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Paulette

Watch for when the GOI is going to pass the budget.  I hope it is not until after the CBI…”Reinstitutes” their currency which must occur prior or simultaneous to the RI.  I believe it will be prior with the RI to follow from 2 weeks to upwards of a year.  I don’t think a year is likely but Shabbibi said that inflation has to be monitored prior to moving ahead.  I am hopeful that the CBI is currently doing that in their reported experiment in depegging from the USD.

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Samson (KTFA)

Article:
Iraq is no longer obligated to receive oil revenues from the US Federal Reserve

The Shackles of Chapter VII are off – IRAQ GOING INTERNATIONAL.

Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles

Courtesy of Dinar Guru

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