Dinarland Highlights – 2.17.23
MarkZ
[via PDK]
Question: Mark, are you still hearing Iraq will make a move around the 18th or 24th?
Answer: Yes I am still hearing that.
[So where are we?]
If we are listening to bankers…they believe we are a day or two away…if you listen to folks on the ground in Iraq we may be a couple weeks away… Either way this tells us how close we are… IMO It has started. When Iraq changed their rate to 1300 it started the mechanism …to me this is when the switch was flipped. This is when it was turned on and now we are just waiting for the process to roll down to us… I am very excited…
From our own US Dept. of State at State.gov…. “Joint statement on the US-Iraq higher coordinating committee” this is the official statement on the meetings in DC…frameworks, investments etc…We are being told from people within those meetings or close to those meetings that more than that was accomplished. Things like new rates that we can expect soon and what we can also expect as to timing…I do not know what that timing is yet but hoping it will leak…
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NORV
[aka Kaperoni]
Despite the Central Bank’s decision to adjust the exchange rate to 1,300 dinars to the dollar from 1,470 dinars, confusion still prevails in the Iraqi markets. The exchange rates remain high despite the relative stability in the local stock exchange.
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Sandy Ingram
Article:
“Commission of Integrity issues 90 arrest warrants for official”
The officials include 4 MPs in the current parliament. 5 former MPs. 4 former ministers…2 current undersecretaries. 3 former undersecretaries …3 current governors. 14 former governors. 10 current General Directors. 27 former general directors…7 former members of government councils.
The IQD rate still does not show 1300 IQD to 1 US dollar. We are not sure if the 1300 IQD rate is in effect. However, a rate of 1310 IQD to 1 US dollar shows up on the Central Bank of Iraq’s website…
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: My bank friend says this new gas and oil law…is the key…They’re saying on TV that Sudani has worked out a new deal and he got the Kurds in Baghdad to agree and this will make it all possible…meetings are still going on but it’s the key.
FRANK: I’ll admit it [HCL] is an important key factor but there are many other factors that were presented to Washington D.C…about the 2nd stage of the monetary reform…that’s what I am looking for…
FRANK: Your bank friend is trying to explain to you how the rate is going to change and lead to a float. Your official rate right now is 1300. Your bank friend tells you the next rate change you should look for is 1190. I think it might be 1000. Either way all three of them are going in the correct direction and that’s what’s exciting. You’re soon to float, to add value to your currency and that is a dream finally coming true.
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MilitiaMan (KTFA)
We’re changing from an exchange rate topic to a value-related topic. We have the foreign minister, finance minster and the central bank talking about value and value comes from not just an exchange rate per se but what’s the basis of that value. That value is going to come from income streams, taxes, tariffs at the borders, natural gas, oil and …foreign reserves which is the dollar…and they have a lot of gold…the basis of all these meetings is definitely value.
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Henig (KTFA)
Article:
“Government spokesman to Shafaq News: The Iraqi delegation to Washington reached “new mechanisms” on the dollar crisis“
Quote:
“…the American party has paid very attention to the Iraqi delegation in a very different way from all previous delegations that visited the United States of America during the past years…the two parties reached new mechanisms in cooperation and will contribute to the launch of large batches of hard currency into Iraq, and agree on the method of applying the electronic platform, and this will contribute within a very short period to the stability of the dollar exchange rate in the local market according to its official price, and this price will be stable in the coming days.”
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Pimpy
Article:
“US Report: Iraqi delegation in Washington came under ‘severe’ pressure from Biden administration“
To me this is just smoke and mirrors…they’re acting like they’re being hard on Iraq but I don’t believe it, not for a second.
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Bruce (The Big Call)
[via WiserNow]
…Tuesday…I got this information…the transition from our old form of government, which is a USA Inc. Okay, the United States of America Incorporated…a transition to the Restored Republic of America…is in place now…This means that your treasury resources that when that happened…the green light would be triggered by Treasury to the banks to allow the banks to move forward with tranches of payments to bondholders, their notifications and us to be notified for our exchanges…That was a very big move that had to take place. And it did.
Where does that put us? So, the latest we have from this same Treasury source is saying that we…will be notified either Sunday evening or Monday morning. …and we would set our appointments on Monday – Start our exchanges on Tuesday… that has us going early next week…we’re looking good…
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Paulette (KTFA)
…There will be a significant amount of USD going to Iran for imports and this will continue but under the “new mechanism”…Merchants conducting Legal business can purchase USD for 1320…Who is willing to pay nearly 14% more for their imports at 1530? The Market is clearly still filled with corruption! The Sudani GOI is stating all the right things about taking action against the corrupt that are causing this significant difference in the official and market rates and perhaps this is how they are “smoking out” the corrupt. Time will Tell…it seems the clock is ticking.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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