Dinarland Highlights – 3.20.23
It is my opinion you will see an exchange rate about a week before April 1st. Why would I have have such an opinion? You don’t have the budget. You don’t have the exchange rate. But once you have the exchange rate you can have anything you want in that budget. Do you have the budget? No. Did they tell you it’s coming? Yes. For 3 years. Did they give you the rate for the budget? No.
The lower denoms and the new exchange rate have to coincide together. IMO the lower denominations is the most important thing for us right now…because you cannot be given the lower denoms the way you’re being given the budget. The budget can be foretold but the new small category notes…are the trigger for…everything…the lower denoms will never come out without the new exchange rate.
“The Governor of the Central Bank of Iraq appoints “Al-Haimus” as his deputy”
THEY’RE BRINGING IN MANY NEW DEPUTY GOVERNORS BECAUSE IT’S A NEW MONETARY REFORM PLAN.
“Al-Haimus had worked as general manager of the Trade Bank of Iraq (TBI) and head of the Securities Commission.”
THE MONETARY REFORM IS SECURE.
“Iraq Must Not Squander Another Opportunity to Rebuild“
It’s the 20th anniversary of our attack on Iraq…20 years since the start of the war, since Iraq has been “liberated”…I like to believe this time around things are going to be different. I’m not happy about what happened with Sadr bailing out and allowing the coordinated framework to be there but so far the coordinated framework appeared to be doing all the right things. Let’s hope they stay down that path – not for their own sake but for the sake of the Iraqi people…
Looks like the momentum is in favor of Iraq and this new government. All the things we’ve been speaking about over the last couple days seem to be happening quickly…We got a 3-year budget now in the hands of the representatives. It looks like we have an agreement between Kurdistan and the federal government of Iraq. All seems well so far in Iraq.
It is looking like a great week. They are being forced into a corner where they don’t have a choice. One of the…big pieces of news coming out of Iraq is about coins and how they will be “immediately“ usable. The first story broke late Thursday into Friday. Then rumors and more confirmations over the weekend… Currently the $50 dinar note is only worth .4 cents or so. A coin is only worth a fraction of a single dinar. This would make no sense. But we have had some clear indicators out of Iraq that 1. The rate in the budget is now changeable. And 2. Coins can be used immediately to support the lower denominations. This is really important. Denominations of their coins is similar to our coins in Iraq…them being able to use coins is huge.
We do have some news coming out of Iraq. “The Central bank of Iraq is preparing a lending strategy and recommends a plan to attract deposits” Why is this important? Because you have to have a workable currency to be loaning money…right? Not a currency that is worthless.
They spent somewhere around $49,429,000 in 2018…on currency issuance. That would be for the new small category notes and potentially the fils, which are coins…March 17th there was the article that came out about the coins. It also spoke about the deletion of the zeros. Those 2 things go hand in hand.
“the central bank is the only one responsible for supplying the currency, bank notes and coins to the country of Iraq.”
That’s the central bank’s job. They did that in 2018…we know they did issue currency to the tune of about just under $50 million worth and they did it for a reason.
“The finance committee and the Iraqi parliament calls on the central bank to reintroduce the metal currency.“
This was on the 17th – reintroduce metal currency. Why would you reintroduce metal currency if in fact you’re going to come out as they state in the budget – 1300? Sounds to me from what we’ve read in the article…they have a caveat that they can amend the budget at any time…
“small coins facilitate many daily banking transactions as the use of metal denominations and their circulation will give currency a legal value.”
So not only do they have value but it’s legal…
“Al-Sudani: We look forward to transforming Iraq into a center for world trade through the Al-Faw port project“
“..transforming Iraq into a center for global trade between Asia and Europe through the great port of Faw project and everything related to it.” economic zones, residential communities and tourist attractions. We look forward from this giant project, which will extend over an area of more than 20 square miles, to open the way for an economic boom for Iraq,”
A Republican Senator or Representative has introduced a bill in congress to get rid of the Income tax and possibly the IRS. This could mean NO taxes on our exchange. There’s a long road before any of this could happen…
Nader From The Mid East
“Fifth Baghdad International Dialogue Conference -US Ambassador…Iraq can reach energy self-sufficiency in 10 years. Some say in less time…approximately half of Iraq’s population is under 20…they want the skills necessary to compete in an increasingly connected global economy…they want a strong economy including a vibrant private sector that produces jobs…The United States is committed to help Iraq build its economic foundation...”
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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