Dinarland Highlights – 5.11.23
We are still waiting for the 3-year budget to pass in parliament and for them to open it. I don’t care what rate is in it since they have told us the rate is flexible and they designed the budget accordingly. Of course, the higher the cost of oil the better.
Al-Sudani’s quote, ‘We reassure the citizens not to acquire the dollar because the dinar is the strongest.” Those are his words. They’re not mine. That was on April 17th. Fast forward it’s about 3 weeks what was his statement, ‘The Iraqi dinar will rise against the U.S. dollar in the next few weeks.‘ Fascinating.
I had a late night conversation with Militia Man…and I told him what my expectations were- RV happening closer to the weekend or early next and he said I may be wrong. I am hearing from the vast majority of my sources that we can expect it much sooner than that…possibly even “NOW”… We do not know the timing but indicators are it is imminent!
Iraq: They have announced that they are going to do the third reading of the budget and vote on it on May 17th- next Wednesday. I expect things to go before that. Why? …because I am hearing its already approved after the second reading automatically once you hit a certain time frame…and that’s how they were able to send the dollars to Kurdistan this week. It has already been approved twice with no objections. I believe they are giving us that date to look over there and IMO we should see the announcement between now and then.
Once again my sources on the ground in Iraq are telling me the budget is already done. And perhaps we will see it rubber stamped by next Wednesday when they say they are going to “officially” announce it. Most of my Iraqi contacts think it (RV) will go sometime over this weekend. Or early next week…. I hope they are accurate. I am hearing that from all sides right now. This has me hopeful.
“Sharq: The collapse of the Tehran Stock Exchange caused a fifth of the liquidity to evaporate within two days“
“…the significant decline in the Tehran Stock Exchange markets during the past few days as “amazing” and “shocking”, as the equivalent of a fifth of the country’s cash liquidity evaporated in just two days.”
“The Sudanese advisor comments on the return of the dollar’s rise: gangs are the reason”
“Salih…organized crime gangs took advantage of (electronic) travelers’ cards. These gangs illegally and legally use citizens’ passports in order to issue electronic cards and smuggle them out of Iraq in order to finance black transfers and smuggle money.”
“Iraqis Fly to Nearby Countries to Get Dollars as U.S. Cracks Down on Money Laundering“
Here’s where the problem lies. When your government is allies and backed by Iran where do you think this government’s loyalty is going to go to? It’s going to go to Iran. It always will. Until this type of government is removed there’s always going to be a problem…Money traders next door in Iraq are finding new ways to get a hold of greenbacks as the local supply dries up…
When you go through the news in Iraq all of it is talk about the budget. When it’s going to be done. When they’re going to vote on it. What is the holdup. I think where people are misunderstanding is it’s not just one year. They’re not trying to vote for a budget for 2023. They’re voting for a budget for 2023, 24 and 25. It’s not that easy. The committee had the budget. They look over it, they make their adjustments, they then send it over to the House of Representatives who…put their changes they want, they send it back to the committee and it goes back and forth like a boring game of ping-pong. Sometimes it happens really quick and they agree on the same thing. Other times times it doesn’t… they’re going to keep going back and forth.
“Iraqis Fly to Nearby Countries to Get Dollar as U.S. Cracks Down on Money Laundering“
…As the the US tries to stop the illegal flow of dollars into Iran, local money traders next door in Iraq are finding new ways to get hold of greenbacks as the local supply dries up in Iraq. They are flying to nearby countries with stacks of bank cards to withdraw hard cash…At least 24 Iraqis carrying around 1,200 bank cards loaded with more than $5 million have been arrested…On Friday authorities detained another Iraq traveler trying to sneak out 300 bank cards in cigarette packs at the international airport in the central Iraqi city of Najaf…
The CBI took out a tender which we told you about 2 weeks ago. The tender bid is for the new small category notes. They will also have to be paid in IQDs. This tender was accepted. It was fulfilled. It is complete in the national currency and the contract was just paid in Iraqi dinars.
I know the expectation was 1:1 and now maybe 1:1.50 but I wouldn’t be surprised with all the build-up that they come out guns a blazin of 3+:1.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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