Dinarland Highlights – 1.17.23
Yes they are out of chapter 7 formally a few months back. IMF stated that Iraq did overpay and was paid back about 7 million and was taken off Chapter 7 and submitted to the UN. It was one of the requirements the IMF made for them to go international…
“RULE OF LAW: THE 2023 BUDGET WILL BE PASSED IN RECORD TIME“
I don’t know how they tell time in Iraq. They must have watches on some kind of delay mechanisms to set them months back from reality…lol… Heck they all know that the budget will NOT get done in record time as it NEVER is done in record time and they say this each year that it will. Go figure.
The official IQD exchange rate has been fixed at 1470 Iraqi dinars against 1 U.S. dollar. Now the currency was trading at up to 1600 on local markets from mid-November before settling at around 1570 dinars. Now you’re asking yourself, ‘What’s the big deal? It’s only a small small change?’ Wrong! It’s a major big deal. It has sent panic waves through Iraq because of the increase in the cost of imports goods, wheat and gas…
It’s been very quiet on the RV front…not hearing anything on timing for us yet…I know we are all very frustrated with waiting.
[Mark, do you think we will go this week.]
I have been asked to keep the range “wide” but yes, think there is a good chance.
I just got an email from Dr. Scott Young:
“Every member of congress holds unbelievable amounts of dinar dong, zim ect….”
I know a number of politicians that are holding pretty sizable amounts of currency.
Very little RV News happening…. Some meetings happening tonight…But it has been exceptionally quiet today… Maybe that is a good thing…most of my calls are going straight to voice mail…it may be a good sign. But there is nothing negative at all.
[Iraq boots-on-the-ground report]
FIREFLY: They are talking why the exchange rate has been up and down since November and the government officials say it’s for the new system. The new system is called SWIFT…Iraq is actually floating its rate inside of Iraq right now.
FRANK: This is the education we told you about. The monetary reform education.
Looks like Al-Sudani is fast stepping all kinds of projects to help them get away from relying so much on the oil revenue, which is something we’ve been waiting for now for a few years-decades. But we saw Al-Kazemi trying to make the effort to move forward and didn’t have the type of support Al-Sudani does. It looks like Al-Sudani is fast tracking all of this work which is outstanding for anybody invested in Iraqi dinar and even more so for the Iraqi people…
In county of Iraq they don’t have the ability to use dollars anymore. The U.S. Federal Reserve Bank has stopped the way they are allowed to do dollar auctions in the country…that puts pressure on the citizens because the local exchange rate is going down which is causing them to pay more for goods and services. The U.S. fed…is creating an environment that’s forcing the country effectively to get off the dollar…foods are going sky-high…it’s creating that environment where the CBI is going to have to make an exchange change and it’s going to have to happen quickly.
Over the last week or so there’s been a lot of discussion with Iraq completing the documentation for accession to the WTO.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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