Dinarland Highlights – 4.28.23
I can hardly wait for them to roll out the newer lower denominations as this too will be our final sign that there is no turning back…
…the actions taken by the CBI since January you can clearly see, like me, that to this point there is really almost no turning back. Commitments are already going forward and the changes to reinstate at a revalue rate are in play. We just don’t know the date but we know it is coming and much sooner than later.
I am still hearing it will be a re-instatement. I have also heard they are concerned that if it is a unmonitored float- similar to what Kuwait did- the rate will bounce all over the place. So I am hearing the plan is to go with a more solid rate…which in my opinion will put it well north of $4.00. This is just my opinion.
From Iraq – the last reports were they are hoping to see something on Saturday. We will find out very soon.
Member question: Has the third reading of Iraq’s budget happened yet?
MarkZ Answer: From folks over there they are telling me “yes” and they have just not announced it has been approved…yet. There is very purposeful “smoke” coming out of Iraq right now.
Member question: ...what are your thoughts about the rumor it will take 3 more weeks or so? …we are seeing a lot of different things being thrown out there right now. They need to cloud the timing on purpose. There are so many indicators showing its “right now” so they are throwing the smoke out there. Don’t let it drive you nuts.
“One week separates the dollar from stability at the parallel price of 132 thousand dinars”
1320 IS NEXT AND THEN 1100, IN MY OPINION.
We want to see what the CBI and Sudani are saying. Do we care about anything else? No. Do we care what the IMF is saying? No. Do we care about what the U.S. Treasury is saying? No. Why not? They’re done. All they’re doing is announcing it to the citizens of Iraq…
“The Central Bank of Iraq launches the Banking Supervision Reporting System (BSRS)”
The CBI announced today the BSRS (Banking Supervision Reporting System)…It’s important is because …the banks in Iraq…didn’t have advanced technology. It was all pen and paper…and it was a mess…Now they have the whole system set up from the Central Bank of Iraq down to the banks and down to the branches. What that means is they have all the knowledge of all the currency inflow and outflow…In other words the central bank knows…how much currency inventory goes in the country and goes out of the country…they can account for all the money…The ability to account for currency and the inventory of it is phenomenal…
…What we might see towards this last stage…when it comes to the exchange rate…some things that aren’t necessarily true, a little misleading or flat out wrong.
If the Iraqi dinar is ever going to go up in value it will do so as stated by the IMF several years ago in the Article IV Consultation stating that they encouraged Iraq to move to a flexible exchange rate policy…which would allow a predictable and gradual appreciation of the exchange rate…
”The Central Bank of Iraq launches the Banking Supervision Reporting System (BSRS)”
“…the new system will collect financial data from banks and non-banking financial institutions represented by banks’ quarterly data tables, mandatory reserve reservation tables, and trial balance tables for non-banking financial institutions.”
Bruce (The Big Call)
…we need Iraq to do one thing, and that is to put their new dinar rate, which would be their CBI rate or their international rates into the printed Gazette, which comes out Saturday…they’ve been exchanging there for over two weeks in country – in …Iraq …we heard from very, very high up source, said that April’s showers will bring May dollars… I think the rate will be good. The rate will be very strong. And dong rate is going to be very strong also… I’m hearing is we should be getting notified Saturday. And I think based on that we should start Monday or at the very latest. So I think we’re just about there…
The IQD is considered to be “ORDINARY INCOME”…the taxes due will be calculated by your personal tax bracket and marital status at the time you exchange your IQD for USD.This becomes a taxable event…the maximum taxation of the IQD exchange would range from 37% federal only, up to a possible 13% [additional] depending on your state of residence. (13% is calculated on California). There can be other taxes applied if you exchange more that $1 million in any given year…there’s an additional 3% tax they want to impose…You’re going to want to have a conversation with your tax professional and make sure you prepare for this appropriately. This is important.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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