Dinarland Highlights – 1.19.23
The German engineering company (Siemens) is a pioneer in the field of energy production, and it has a plan to raise the rates of electricity supply to Iraq...Why is this so important to us as investors in the dinar? Modern banking is all electronic…Even to conduct electronic transfers of funds needs the electric grid up and running 24/7. Once Iraq goes international this will be a necessity…
…The IMF, World Bank and UN are there to support countries not demand reforms and punish them for not following guidelines… Only the IMF would work with Iraq regarding monetary policy and nobody is telling Iraq to change the value of their exchange rate… In fact, it was agreed upon that it would stay the same for a few more years… Only with the success and growth of Iraq diversifying their economy will Iraq float the dinar… They have a lot of work to do including passing over 100 stalled laws to encourage investment that they keep saying they’re going to pass but they never do… Until that happens the dinar will remain weak…
[Iraq boots-on-the-ground report]
FIREFLY: It’s gone from bad to worse on the streets. The markets are calling for something to be done. A lot of pointing at the CBI and their failure of handling the exchange rate. More and more hate is coming at the CBI.
FRANK: Unfortunately…you have to suffer right now in order to prosper very soon…
Bank story from Montana: My husband and I went to our local Stockman Bank last week. The currency exchange person at the bank confirmed we can exchange our IQDs with them when we are ready. She explained they will verify the bills in-house using their currency book. She said they don’t have a machine to check the bills…It’s in Stockman Bank in Billings Montana…the other thing that was crazy to us is that they told us they’re only charging $30 for the exchange. No fees will be taken from our exchange with them.
I am still getting exceptionally positive news from every corner of the world. Every paymaster…every bank contact…. They all expect it in the month of January. So the PTB better get awfully busy.
“Iraq dinar plunges to a new low despite the government measures.” They are under pressure …and imo the Iraqi people are more than a little frustrated because they were expecting the change in the dinar value to have happened already.
There is still zero negative news…I did get a little news out of Iraq…I got a big chuckle when I said “Hey, people are very concerned that isn’t going to go until 2024.” I have a great contact over there in the finance ministry…and he told me there is no way they are waiting. He said “If the rest of the world isn’t ready …you could absolutely expect them to at least do a NEER (Nominal Effective Exchange Rate of about $1.60).
All the things we’re seeing right now are pointing to a picture Iraq is about to make a move with their exchange rate and the reasons why they’re keeping it quiet is because it’s sensitive. It’s not the CBI’s job to come out and tell you exactly what they’re going to do…
“For the first time… $100 jumps over 165,000 dinars in Iraq“
“The exchange rates of the US dollar against the Iraqi dinar jumped today, Thursday, in the main stock exchange in the capital, Baghdad, and in Erbil, the capital of Kurdistan Region, to record more than 165,000 dinars.
“Economic: Reducing the price of the dollar outside the ability of the government and the central bank“
IMO: This article is in the category of FUD: Fear, Uncertainty, and Doubt. By saying that there’s nothing anyone in Iraq can do about their own currency, they spread a feeling of hopelessness among the Iraqi people–and among investors in the Dinar. When investors feel hopeless, they start looking for the exits. That’s the point of stories like this…This is an intentional strategy. Recognize and understand.
The [Modern day] IQD…replaced the previous currency that once had a value of $3.75 (that was an inflated price that was brought into play by Saddam. It wasn’t justifiable and reality price)… [The IQD now] is considered to be under a managed float with little change in the value for the last two decades. The value is small at this point in time. The CBI…in recent years have stated they could support a $1.17…
Iraq is still under sanctions and has an ongoing agreement with the U.S. government.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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