Dinarland Highlights – 2.6.23
…the effort to take the dollar out of Iraq serves several purposes. It cuts Iran off from getting dollars and it restores an economy in Iraq that will be international.Doubt very much this will be pulled back because all markets in other countries have prepped for acceptance of the dinar. Plus, the countries who did currency swaps will have a stronger currency in their central banks.
Iraqis protested Friday in Baghdad demanding the government take action to stop the economy crisis…after the Iraqi dinar plunged again…to around 1750 Iraqi dinar to $1 at street exchangers in some parts of the country on Thursday compared to the official rate of 1460 dinar for $1 US. On Friday…most exchange stores in Baghdad were closed while in the northern city of Erbil the dollar was trading at around 1710 Iraqi dinars to $1. At the same time we are getting the news..from ABC and countless other news stations that the meeting between the US Treasury Department and the head of the Central Bank of Iraq the crisis has been averted.
Nader From The Mid East
They did two good things. The budget has been presented yesterday. Tomorrow should be on the table…by the end of the week should present to the government. The second thing the CBI have finished one file on reducing the dollar exchange rate. I hope they did good. I hope they’re not talking about 1460 or 1120…we’ll see tomorrow what’s going on…it’s a question of time now. Be patient. We’re almost there…One day it’s going to hit. That’s it.
We take 1 step forward 10 steps back. I don’t F$$%ing know what’s going on with Iran…Of course the United States is going to get involved in it. They don’t want the dinar stronger than the dollar. They don’t want anybody to be stronger than the dollar. They want to keep it like that. They want to keep control over it. That’s their job to.
…The Prime Minister is telling everybody you’ll see real stability in the Iraqi dinar within the next couple of weeks…It’s positive. Al-Sudani is saying this is a for sure thing so whatever it is that’s being discussed right now [with the United States] he feels reassured the exchange rate is going to get closer to the official exchange rate or it might be better than the official exchange rate allowing them to maybe revalue their currency back to its original 1190 dinar or possibly a little bit more.
I have a friend who works inside the defense department. Him and I talk a lot about geopolitics. He’s usually over there in the Middle East…He recently retired…We had a chance to talk about Iraq and there was some information he shot past me that I thought was interesting so I’ll share with you…we did talk about the dinar…In his view the United States is putting the squeeze on Iraq in regards to money laundering…
Between this new government and a new central bank governor if they choose so they can move the exchange rate to $3.22. But just because they do it doesn’t mean the rest of the world is going to accept it. You gotta remember that. You’ve going to have to be able to justify that exchange change. As a matter of fact you could be in trouble by jumping it up that high. You can get sanctions against Iraq. Is that going to happen? No, because it’s not going to go to $3.22 or $3.48 or whatever it is you guys keep telling me because so-and-so said so.
I hope they don’t release the budget. I know the citizens want it. But the exchange rate cannot be released until the very last nanosecond. I don’t know when it is. That’s why I say I really don’t want the budget because it will come out at a program rate. You can put lipstick on a pig but it’s still going to be ugly. And so is the program rate for the IQD…
The world is pouring into Iraq…not at a program rate. Because they know IMO what the monetary reform is about to do. They are covered under Article VIII…they’re going to invest in Iraq. That’s what these countries and companies are doing…This is an exodus towards Iraq! For a program rate?!? This is a busting down the door to get into Iraq! …They all know what’s going on…Iraq is about to be so powerful.
We have news screaming at us…it’s almost minute by minute right now. I am getting great news from all my sources…The chatter is off the hook in Iraq. They have stabilized their currency according to International news …and Epoch times… Now that the yo-yo has started we know how close we are. Member statement: My sister’s ex-husband lives in Iraq…He told her the rate has been changed and was $3.00 and possibly going up to $3.50. MarkZ: Yes that is the rumor on the streets of Iraq. Nobody can exchange yet for that so everybody stay calm. It’s still necessary for them to play yo-yo for security reasons.
All of my banking sources are absolutely convinced that it will happen overnight tonight and into tomorrow. It could be accurate but it could be a little premature. But we are certainly close. My banking side contacts are convinced this is it…we will see if they are right.
On the 3rd the Central Bank of Iraq has an announcement on their website and they specifically talk about…politics. It’s not common…they mentioned there was talk between a phone call of the Prime Minister Al-Sadani and President Biden in respect to coordination. For them to say those types of things means there’s been some sort of an agreement. And that is effetely in our view and many people’s view a green light for the monetary/economic reforms to continue…
“Need a rate before the budget“
They have a rate – 1460. They need a new rate if they “reinstitute” the NSCN’s which is what Iraq can control internally. The IMF controls the rate at RI…And, IF they can RI, I just think they need to walk before they can run.
“ZainCash, Western Union to Enable Int’l Money Transfers“
“ZainCash Iraq has announced a partnership with Western Union to enable international money transfers through the ZainCash mobile application…this allows customers in Iraq to easily and reliably send and receive money to more than 200 countries and territories. The app can be used by individuals, small and medium businesses (SMEs), as well as public sector entities and non-governmental organizations.“
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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