Dinarland Highlights – 2.3.23
Conversation with my contact in the CBI (continued):
[See Guru Mnt Goat post 2-1-2023 below for the beginning of the conversations]:
Question: I asked one more question about the timing of events. I asked about the possibility of moving to reinstate the dinar on FOREX.
Answer: I was told this was in the planning stages and we could see it very possibly this year and sooner than later. I did not press the point to ask for specific timeframe as I probably would not get it anyhow.
[via PDK] We are still really close. Nothing has changed on this front at all. We are all just trying to stay grounded in these last yo-yo days… it is interesting we are getting that yo-yo on the banking screens. Most of my sources believe it’s locked in at a $3.90 street rate. …the chatter remains good…We are seeing so many sources on the ground in Iraq giving us supporting evidence and news on the impending change…The weekend really does look good.
[Iraq boots-on-the-ground report]
FIREFLY: Sudani still saying he wants to strengthen our currency. He came out early this morning and he said this is his objective. This is on top of what he is saying yesterday about returning the rate to what it should be. This is encouraging.
The CBI… they are working with Sudani and the United States on the exchange rate. That’s why we haven’t seen the budget yet because everything waits for the exchange rate.
FIREFLY: Bank friend said…with the shortness of dinars on the street and the cost of the dollar exchange rate, now would be the ideal to pull this rate change off. That is his opinion. The timing is just set. No better time.
In my PMs, DMs, MMs and everything else everybody’s sending me the link to Nader’s video [See Guru Nader’s 2-1-2023 post below]…What gets me, people catch every other word. They pick and choose what they want to hear out of that video…Is the Iraqi dinar more valuable than the US dollar? No it’s not. It’s definitely IMO a lot stronger than the value that it’s at now…I don’t think the dinar should be as weak as they’re showing right now. Just a shout out to [Guru] Nader. I love when he brings these kinds of things to our attention because it gives us an idea of what’s going on but don’t misunderstand what you’re hearing…
Sudani is out there putting out the message the Iraqi dinar is a stronger currency, it needs to be restored. They need to find a way to devalue the dollar against the Iraqi dinar. But they’re not putting out any indication at all what that rate would be. He’s just saying that it’s a stronger currency. Does he mean stronger as in its recent performance? …Or is he trying to say it’s a more valuable currency than the US dollar. Doesn’t say. Don’t get over excited. Stay grounded.
…More and more intensely now they’re starting to come out with Sudani said that their Iraqi rate is going to be $3.48. Now it’s $3.90. Wait it moved up to $4.17. Isn’t it amazing how it continues to just spread and nobody has any receipts whatsoever. Where are they getting this information from? There’s not even new articles out there…Where do you guys see where Al-Sudani has said he’s going to change the exchange rate to over $3? I don’t see it anywhere.
A lot of things have happened in the last few days. You have the Central Bank talking, You have the government talking, you have the United States Federal Reserve Bank talking. You have meetings going on in Washington …You have meetings that are said to be done today in Turkey and tomorrow in Turkey. You have demonstrations that may be taking place in the sense of ‘monetary reform, why hasn’t it happened yet?‘ Some of the articles we’re seeing are phenomenal. We have Al-Sudani coming out and talk to the citizens telling everybody ‘Hold on a minute. Don’t do anything. Your dinars are going to be effetely stronger that the dollar‘…
They did have meetings today in Turkey. They’re having meetings tomorrow in Turkey. The United States, Central Bank governors in Turkey. Those things are for a reason. We don’t know what all they are but we do know that they’re after one thing. They’re after getting this country [Iraq] into the international market with Article VIII compliant currency…It’s obvious we’re at a threshold. I’m looking forward to seeing it happen…
Nader From The Mid East
When [Sudani] says, ‘I’m gonna change the dinar rate…it doesn’t mean it’s gonna go 2 to 1 or 1 to 1. It can be back to [the year] 2020. I hope they put it back in [the year] 2003…we deserve that I think…
Guru Frank26 says the reason why they haven’t reinstated the Iraqi dinar is because of Iran….Well, partially, Iran is affecting the auctions by smuggling dollars. But for the dinar to ever go up in value it will be based on the economic success of Iraq’s economy.
Bruce (The Big Call)
We know that Iraq did their thing with their reinstatement of the Iraqi dinar yesterday, officially. And then today, it revalued and it’s got a rate on the screen and it’s going up. We heard some outrageous contract rates for the dinar which is a real thing. Oh, and there’s no contract for dong – just so you know – but there is on the dinar – and is higher than we had been told it would be… So where we stand right now – is things are so quiet…we are just at a point where they do not want us to know the timing of when this is going to be released… I’m still excited…I’m hoping we get some action here the next couple days… I have to believe we’re very, very close.
“Solutions are exhausted.. A specialist identifies the last option to solve the dollar crisis in Iraq“
“the only solution to reduce the exchange rate of the dollar in the local market is to reduce the exchange rate by the central bank, as this is the only solution to solve the current crisis.”
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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