Dinarland Highlights – 3.1.23
This is a huge, absolutely stunning , ginormous and positive news from Iraq. “Baghdad, Erbil reach an agreement on the 2023 budget –Lawmaker” I am told things have gone well and its submitted now for a “rubber stamp” on it…they even outline the details of it in the article…We were always told this is one of the last things that would “suddenly” happen before the RV release…so…this tells us we are awfully close.
…I really thought we would be done by now. We dust off…pick ourselves up and battle on. We know it’s inevitable… Question: Do you think our notifications are in days or closer to the Ides of March on the 15th? Answer MarkZ: I think…in days…
We are getting so much chatter…try to stay sane during this, i told you to expect it...there is a great amount of chatter about the rate change…hopefully we will get to the other side soon.
MORE BANKS ARE SEEING THE 1.51 RATE BUT WON’T TRADE ON IT…AT LEAST NOT YET ANYWAY.
[Iraq boots-on-the-ground report]
FIREFLY: Economic news is calling for de-dollarization. They want us to stop using the American dollar. They keep repeating this over and over again. It looks like they are preparing us for a date...Saying to put less demand in dollar and more on dinar so…the value of dinar will increase. They are telling the private sectors to get away from dual currencies.
FRANK: That’s basic economics 101…the 2nd and 3rd stage of the monetary reform is showing you to use only your currency and to hold on to it because it soon will have more value…And then when it floats internationally it will really go up…1 to 1 will be your purchasing power.
There are 2 types of exchanges. There are those that have less than a million, they’ll probably cash everything out and then there are those that have many millions. You got to know when to hold them, you have to know when to fold them…
The purpose of the CBI right now in the 2nd stage of the monetary reform is to bring in the new exchange rate, new small category notes and to float their currency. The only way all that can happen is if you destroy the American dollar inside of Iraq…
“Official: Iraq’s reserves of foreign currency reach the highest level at 115 billion dollars“
“Saleh explained it…the coverage of reserves from foreign exchange to the exported national currency amounts to nearly 150%, which is a very high percentage and represents optimal efficiency in reserves management standards, as well as covering the external debt that is obligatory to pay Iraq by about five times.”
Muhammad Saleh…says their reserves are $115 billion which is up from the $90’s. They also increased their gold reserves from about 96 tons to 132 tons…It’s really truly amazing …by him saying we have about 5x what we need in foreign reserves…to me that means they’re going to be able to support the value of their currency because they have such a huge amount of reserves and gold and money coming in from abroad. I think they’re bringing this up today is because it’s going to give support to the investors to know they have the ability to…defend the currency value.
“Iraq’s foreign currency reserves hit $115 billion high”
This article caught my attention…the amount of reserves they have…it’s 5x the amount of their external debt. We know they have $115 billion in foreign reserves…they’re saying if this was converted into Iraqi dinars it is approximately 150% of the amount of currency that’s there…They have approximately $8.4 billion in gold assets. If you add the two together – $124 billion…it comes out to an exchange rate of approximately $1.61…that’s not counting all the other assets like oil and deposits and everything else. The exchange rate…way undervalued…
Somebody said…they changed the rate again. I said no. I don’t see that nowhere. None of the articles say they changed the rate but they did increase the number of outlets where you can purchase US dollars if you need them [Inside Iraq]…
Let’s take an example…somebody purchased it [Iraqi dinar] for a thousand buck. The projected value would increase to $1,000,000. This particular investment type is treated as ordinary income. They decide to cash it all in at once. Here’s the result: They have a taxable event. They lost 37% to the feds and 13% to the state. (That’s before the “Green Book” is applied.) That leaves them with half… $500,000…to be able to invest. Everything that comes off that investment…is taxed again.
Inflation is part of this monetary reform in order to drive supply and demand for the Iraqi dinar in a society that only uses a program rate currency. By increasing the inflation they will be able to decrease it by adding value to their currency and increasing the economic reform. Security and demand will be due to the de-dollariaztion in the 2nd stage of the monetary reform that will open the 3rd stage.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we’ll forward your request to the author.
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2022 Dinar Chronicles