Dinarland Highlights – 2.21.23
Today Iraq has announced that they now have digital control over the flow of their money so it is possible…Very, very possible they can make it happen in this short of time frame. It is well within the window we have been expecting.
The banking side is still extremely excited about late afternoon to overnight tonight for things to move forward and money to be released…I am watching it very closely… I believe this is the closest we have ever been…
I am still hearing phenomenal stuff from the banking side...Iraq is still saying that their budget goes next week. My understanding is that before the budget gets introduced to parliament…the HCL will be done. So we know we are in a short window for Iraq to make a move.
[Iraq boots-on-the-ground report]
FIREFLY: The CBI governor is on News Station One saying the CBI is determined to stabilize the exchange rate and the next phase is coming. They’re calling it the 2nd Stage Phase.
FRANK: The 2nd Stage/Phase of the monetary reform IMO is to reveal a new exchange rate and your new small category note to you as Iraqi citizens.
FIREFLY: It’s all the talk in the streets. We’re expecting that soon.
New keyword ‘currency reform’. You went through the monetary reform. You are going through the economic reform. The Iraqi citizens are going through the ‘currency reform’. Notice I said you are going through the economic reform. The fact that you purchased Iraqi dinar is going to help their economy. But the citizens of Iraq will have purchasing power through a new mechanism in 2nd stage that will allow them to have a new exchange rate when the dinar starts to floats.
We know the budget has been put forward and they’re supposed to be voting on it. I made a suggestion that it appeared they might make another exchange rate change before the budget is released 100%. I said once the budget has been voted on then we’re stuck with the exchange rate at least for a year unless they want to amend the budget which is a pain in the butt to do. Until that budget law has been passed keep your fingers crossed.
I can tell when I’m speaking to people that they’re confusing what the exchange rates are. There are different types of exchange rates…One is the official rate, which is 1300 dinars for every dollar. The other one is the market rate, which is 1460 dinars for every dollar...the market rate, which is like the black market rate, is what people are willing to pay for the US dollar. They’re willing to exchange 1460 dinars for every dollar. In other words they will pay you more to get their hands on the US dollar…this is causing a problem.
You’re looking at a 160 dinar difference between the two rates which is equivalent to 11 cents. That doesn’t sound like much but it does add up quickly. If you had $1 million dollars and you want to go buy the Iraqi dinar on the black market at 1460 dinars…you would get 1 billion 460 million dinars…You would take it into the bank and sell it to them for 1300 dinars for every $1 and you would make a profit of 160 million dinars…$109,594…of course it’s illegal to do that but there are people out there who do it for you.
Nader From The Mid East
If you talk about the private sector look at it a year ago and look at it now. It’s gone 60%-70% better.
Baghdad is finally in the driver’s seat. Let’s hope the Coordinating Framework turns out to be the good guys. We are at a time that nobody truly knows who is good or bad in this world…My biggest question is will Nouri al-Maliki turn out to be good, bad or flipped? If I knew the answer, I would have a better understanding of where the RI process currently lies…
“Revival of hanging gardens in Iraq”
“The Central Bank of Iraq is witnessing in the design of its new building hanging gardens that bring to mind…one of the seven historical wonders of the world…the implementation of the first listed hanging gardens in Iraq, which will decorate the roof of the base of the new central bank building…“
These cats are positioning themselves for a new Renaissance.
“The Foreign Minister reveals the details of Washington ‘s visit: There are no American conditions, and the currency will soon stabilize”
IMMINENT STABILIZATION OF THE EXCHANGE RATE
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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