Dinarland Highlights – 2.2.23
Conversation with my contact in the CBI (continued) – [See Guru Mnt Goat post 2-1-2023 below for the beginning of the converations ]:
Question: Do they fully intend to carryout this currency reform to the end?
Answer: Yes, as they are only releasing more of the 100, 250 and 1000 smaller category notes and these will stay in circulation afterwards. It will be an easier transition to the lower, lower denominations once they have this situation under control and other countries will bring the value of the dinar up as the foreign demand increases.
The plan all along is to use the older three zero notes at the banks for transfer between countries to pay the debts only and to take them out of the general circulation…This was a strategy imposed by Ali Alaq even before he left the CBI in June 2020. Now we are beginning to see why they reinstated him as director as he is continuing where he left off on the currency reform project, but the only difference is now he is getting the full support of the GOI.
Conversation with my contact in the CBI (continued) [See Guru Mnt Goat post 2-1-2023 below for the beginning of the converations]:
Question: Isn’t the value of the dinar much greater than the value of the US dollar fiat currency? So why are we not seeing the true rate of the dinar?
Answer: You pose a tricky question to me. Yes, I agree the rate should be much higher, at least 1:1 with the dollar but I believe much more and more like 4:1. But there is a process in place to get there, we are implementing it now that Ali Mohsen Al-Alaq has returned. We are looking forward to working diligently with all advisors and global leaders. It will not be long.
With the restrictions put on Iraq because of Iran it’s causing the devaluation of the Iraqi dinar.
The big problem is this. A lot of these political people in Iraq are allies with Iran. That’s a huge problem for Iraq. And because of this they do a lot of business together, trades together. But they deal in the U.S. dollar. If Iran is supposed to be sanctioned and Iraq’s supposed to be working with the United States that’s violating the sanctions is what’s happening. So Iraq’s now being punished for it.
“Exceeding 172,000 dinars.. The dollar prices continue to rise in Baghdad and Erbil“
“A delegation from Iraqi Central Bank meets the representatives of the US Department of the Treasury in Istanbul Turkey, for talks on stabilizing US dollar exchange prices to Iraqi dinar, Khalil Ghazi, Iraqi parliaments finance committee said“
[Iraq boots-on-the-ground report]
FIREFLY: CBI governor Alaq is on television saying within the next few days measures will be taken to reduce the dollar exchange rate against our currency which on the streets right now is reaching 1750. He said in a meeting with the United States of America Feds in Istanbul, Turkey and then another meeting in Washington March 9th. We are struggling as this dollar rate keeps going up. We wait to see what the next two days bring…we hope for some relief of some kind…
FIREFLY: Sudani said today he was going to put the dollar back to its true rate.
FRANK: That matches the articles. He’s talking to the citizens. He’s trying to calm them.
FIREFLY: He didn’t say when but he’s going to put it to its true value.
What have I told you is the reason why we do not have the reinstatement of the Iraqi dinar? It’s Iran…there’s only one reason…that’s what they’re dealing with, the corruption of Iran. And the meeting they are going to have [In Washington] is very powerful. It deals with the exchange rate and corruption of Iran.
If what I understand is correct…they [Iraq] wanted a couple more months but they will not be allowed it…It’s my understanding the middle east wanted more time… That’s what I hear but it doesn’t make much sense to me. Sudani has been on the streets again talking about the need to raise the rates. I am wondering if the news coming out of DC is just being taken out of context. It does not make sense to me that Iraqis want more time…but that is the report from sources there…I assume based on what we hear from Iraq that it would be the opposite.
What I am hearing from banking centers…It has been a week of “Groundhog Days” for them. They went in Monday …they were told “tomorrow. They went in Tuesday and sat there all day…they were told “tomorrow”. They went in Wednesday…they are very frustrated but were told that it is so close we need you here daily…until they finish this thing. They are pushing them hard to not leave or go anywhere over this weekend. They are very frustrated and have been expecting this every day since Monday. Nerves are very frayed at this point but they know we are painfully close.
According to many there was supposed to be a revalue on the 29th of January. As you can see that did not happen. However it could in the future.
They are making the switch from an internal program rate to an open international free market for the IQD.
The whole premise here and goal is to get Iraq off the dollar...sadly it’s going to be a tough road…any day now we’ll see actions on that…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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