Dinarland Highlights – 3.18.23
Member Question: What will redemption centers look like?
MarkZ Answer: The term “redemption center” may be a little off. They are mainly different banks and banking facilities that are set up and will have equipment and trained personnel for exchanging foreign currency. It may just be a bank branch with extra offices in your area. Some may be full blown centers in areas with many foreign currency holders. They have a good idea on demographics from who has bought what in areas…
A lot of news coming out of Iraq over the last 24 hours…. I mean a lot of fun stuff coming out of the Iraqi news. “Al Sudani advisor: The Baghdad and Erbil agreement is one of the achievements of the federal government” Money has already started moving. Its not 100% tightened up until they finish voting on it. But they have agreed to and implementing their programs and the regions revenues into one central account. I was told this one would be a big one and we are watching it.
…the Governor of the Central Bank, Ali Al-Alaq, set the objectives of monetary policy in Iraq, pointing out that he would take the necessary legal steps within the framework of the dinar being a major currency prevailing in the market in cooperation with the government. This was music to the ears…Alaq goes on with better news and I quote from the article…“the currency is a symbol of sovereignty and a title for the country, and abandoning it is tantamount to lowering the flag”. Oh my gosh! This patriotism and loyalty to Iraq is what Alaq really brings to his job and the Iraqi people…this is how we are going to get the reinstatement…. He has the brains to do it but also the willingness to do it…
[Iraq boots-on-the-ground report]
FIREFLY: Bank friend says he thinks the rate and budget are tied together in a really nice package with the new rate. But the rate can come anytime.
FRANK: What does the budget wait for? The rate. What do we have…? The budget. Therefore normal logic you’re now going to see the rate. I told you it doesn’t matter if it comes out at 1300 or whatever that’s not the point. The point is they are preparing the currency to float…they are moving in the direction of a float. Your internal float is almost done.
The rate and the budget that’s a ‘Line Item’. It’s in the budget. I don’t care if it’s 1300. I don’t care if it’s 1 to 1. Just give me the budget because the budget is waiting for the exchange rate. I said April 1st budget exposed…everything waits for the exchange rate. You want the new budget on April 1st?
“The Iraq parliament begins discussing the budget law“
According to their constitution they have 30 days to review this particular law…This is unique…the fact Iraq is going ahead and passing a three-year budget…I think this is a smart move. I love the fact it’s also open for amendments if necessary.
I get a lot of people saying, ‘How come Iraq’s currency is not the same as Kuwait?’ It’s not that simple. At one time it was very close to the same exchange rate as the Kuwait dinar...but things have changed since then…That doesn’t mean it can’t get there again. It can. But there’s a lot of hurdles that need to be crossed…I don’t think they’re going to get there anytime real soon. But you will see the dinar start to go up in increments as they get their ducks in a row. It seems this administration is doing everything they can as quickly as possible to reach that level so you never know. We’ll see where Iraq ends up…
…the activation of their debit, credit, and prepaid cards on Sunday so they can buy and sell internationally, would have to include a valid rate, not a program rate of 1300 to 1. Believe the float will begin and we will have to option to exchange some at the low rate or wait. Mainly, the release is upon us. I’m also of the mind since, “All Boats Rise With The Tide”, we may see a slight increase in the dong also.
Before 1935 what was Iran called?The answer is Persia…This may be a deep-rooted reason why Iran keeps harboring over Iraq like a lost child over and above the monetary reasons…if you look at the map…Persia included the land that is now occupied by Iran and Iraq…Iran took over the country of Persia’s name in 1935 but that does not change the DNA of the Iraqi or Iranian people...
“The industry opens a new window on the Arab markets for the export of aluminum sheets“
“The Ur State Company of the Ministry of Industry and Minerals opened, on Tuesday, a new window on the Arab markets…strengthening the economic partnership between Iraq and its Arab surroundings, pointing out that the company opened the first line to export its products through the markets of Syria and Lebanon”
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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