Dinarland Highlights – 3.19.23
MarkZ
[via PDK]
…The news is coming straight out of Iraq. Talking about coinage.
Pay attention:
“Economists believe that coins facilitate many of the daily banking transactions The Central Bank is the only one responsible for supplying the country with its banknotes and coins, while Iraq stopped its dealings with “coin” years ago, despite the continuation of its work after 2003.”
What is important is “the discussion returned in economic circles about the reasons why Iraq did not resort to issuing coins with the aim of restoring the value of the small currency, which has become worthless in daily transactions.” They are talking about re-introducing the coins. And restoring the value of the small denomination currency. Why would they need coins and small denominations if they weren’t going to increase the value… Fantastic news, putting out coins…restoring coins…restoring the value of the coins…this is a huge one!!!
Now this is important: Coming out of state.gov. www.state.gov/report/custom/6fbb1fb8fe-5/ Under the section titled “Foreign Exchange and Remittance”… Section 6/paragraph 2… It states: The currency of Iraq is the dinar. Here is the important part. “There are no taxes or subsidies on the purchase or sales of foreign exchange” Now this is about Iraq and treaties with IQD and the US …so we don’t know for sure on other currencies. But the US government is clear on this one. No Taxes on exchanging IQD.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: They have opened 6 new branches in and around Baghdad. They are telling us these 6 new branches…are being set up to help collect the citizens depositing dinars. They are calling it the 2nd phase to get dinars deposited…
FRANK: The CBI is setting up these large depositing areas where the Iraqi citizen can go convert his 3-zero notes into the new small category notes…The CBI is super eager to collect as many 3-zero notes as possible back. It’s brilliant.
Article:
“Why does not Iraq re-adopt the coin?”
Quote:
“The Central Bank is the only one responsible for supplying the country with its banknotes and coins, while Iraq stopped its dealings with “coin” years ago, despite the continuation of its work after 2003.“
THE MONETARY REFORM EDUCATION IS REACHING ALL THE LEVELS… WHY TEACH ABOUT THE COINS? BECAUSE THEY ARE NOW COMING OUT WITH THE NSCN’s. BY THE WAY THIS IS NOT A QUESTION THIS IS MONETARY REFORM EDUCATION.
Question:
“Will there be taxes on our exchange?”
Yeah. Please don’t present this is not a capital gain tax…on what planet did you ever not pay taxes for anything? …you pay taxes for everything…Be around so that you can pay taxes…
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Clare (KTFA)
Article:
“Shafak News publishes the draft budget law for Iraq for three years“
Quote:
“News Agency publishes the draft state budget law for the years 2023, 2024, 2025 sent by the Iraqi government to Parliament.“
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Nader From The Mid East
The budget says about the exchange rate…1300. It didn’t say 1310, 1320… Article… said the exchange rate in the budget is 1300. I was surprised the budget has a rate in it in the first place. The second thing, the very good news…they made it open. They can exchange the rate anytime they want.Why they did that? For a reason…that means 1300 is not fixed for the next 3 years.
I’m surprised the rate didn’t have changed yet too. A lot of friends of mine they’re surprised. We see. Monday is the 20th anniversary of Iraq. We’ll see what’s going on...
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BobTheTaxMan
We as private holders of this currency were considered speculators anticipating gains from this revaluation …This is not tradable on the Forex. It’s not even usable here in the United States…for us [In the United States] we’re just holders. That’s part of the reason why it’s being treated as an ordinary income instead of a long-term capital gains.
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GameofPatience (KTFA)
the budget is waiting on the rate. Kuwait changed their rate on 3/24/91, this year that would be the weekend of 3-25/26. Iraq and Kuwait have the same budget periods April – March.
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MilitiaMan (KTFA)
[CBI governor Alaq talking about Iraqi dinar becoming a major currency]
The central bank is trying to reevaluate all monetary policies and to control the dollar in the parallel market expanding the circle of direct dealings in international currencies. That was back in February…they were including…yuan…euro… yen…and dollar…Why is that important?
Because they’re going to try and facilitate the transfer of monies in international trade in foreign currencies … with the Iraqi dinar. As far as I can tell that happened…I think we can take it seriously that something’s really up…the migration of the ISO-20022 is an international payment transaction system starts the 18th to 19th. The data is out there. It’s not something they’re gonna not do…as of yesterday they’re basically stating that they have no delays and they’re going to migrate…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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