Dinarland Highlights – 5.18.23
MarkZ
[via PDK]
“CBI sells +$216 million in forex on Monday”
This just means they sucked a tremendous amount of dinar off the streets. From foreign people trading things and buying things. $216 million in USD is $281 Billion in Iraqi dinar that was pulled off the streets. We are watching them do everything they need to do to increase the value of the dinar…they are preparing for it.
Bankers are prepared for it to go anywhere from this evening to Monday morning. They are very excited.
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Mountain Goat
I have to say it is all very good and the CBI and GOI are working together to move in the direction they need to take for us to very possibly see the reinstatement back to FOREX (Foreign Currency Exchange) by June or about. There are no obstacles. They must have a budget passed and in place. Also they must have agreements for the oil and gas law… we may be in the window to finally see this RV to the end… We will just have to sit tight and wait this one out.
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Clare (KTFA)
Article:
“The Central Bank disables all electronic payment cards.. and a source of {Euphrates News} explains“
Quote:
“Master Card and [Suge] have been suspended, including palm cards, pending instructions from the Central Bank,” noting that “most of the cards issued in Iraq are suspended due to a change in the central bank’s system and may return to work in the next two days.“
Article:
“The European Bank for “Reconstruction and Development” is expanding in Iraq“
Quote:
“The European Bank for Reconstruction and Development announced, on Thursday, the shareholders’ approval of the bank’s expansion in Iraq and Africa, while confirming a study of a proposal to increase the capital by between three and five billion euros.”
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Frank26 (KTFA)
I know we were looking for Tuesday or Wednesday for the budget to be completed and it should have been but look it’s the Middle East. You already know nothing happens quickly in the Middle East. That’s just the way it goes. That’s a fact of the Middle East…Don’t get frustrated. Don’t get angry about it. Remove the frustration and replace it with a focus of the truth, the truth that they are telling the citizens what is about to happen with their currency, with their monetary reform.
Article:
“Temporarily suspending international financial transactions for MasterCard cards“
A PAUSE TO RESUME WITH A DIFFERENT EXCHANGE RATE.
IMO in these last few days of the budget being finalized they are reformulating the budget for the new exchange rate.
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Pimpy
Iraq is starting to…stop being a dual currency country. In other words you can’t use both US dollars and the dinar. They want to go down to where people can only use the dinar…This…reduces people wanting to go into the black market because the penalties can be very severe…if you want to protect your currency just deal with the Iraqi dinar. It’ll grow in value. It’ll grow in strength as people exclusively us the dinar. Think supply and demand.
Article:
“Iraq and America discuss prospects for bilateral cooperation in the field of oil and energy“
Of course we like to hear this…This is where the United States has Iraq by the short and fuzzies…the United States still controls a lot of what Iraq has including the Development Fund which is part of that executive order 13303.
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Nader From The Mid East
We’re waiting for the US Treasury for what they’re gonna say, what they’re gonna do. It’s their decision now. Everything has been done by the book. The dollar has been banned… Now everybody can buy dollars now only if you need them.
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Kaperoni
There’s been a lot of talk and a lot of decisions lately to encourage investment. Parliament still hasn’t passed any significant legislation including the budget, stalled laws, etc…There are improvements going on in Iraq in they are making progress towards diversifying their economy but all of these steps take time. Hopefully things will continue to improve over the next year or so.
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Breitling
Question:
“Have you seen the Iraqi Parliament take any more action steps that you thought would be required before they actually have an RV?“
No. They’ve done everything they need to do. They did that about a year and a half ago. There is nothing, no laws they can pass, all their banking restricting, them being compliant to the IMF, they’re 100% compliant. So it’s whenever they want to do it. Literally someone can wake up and hit the switch. That’s it. There is no more policy [needed].
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MilitiaMan (KTFA)
Parliament is likely to vote on the budget law next Saturday. We heard that they were going to possibly do this on the 10th. Then they said they possibly do it on the 17th and then…they moved it to Saturday…the 2023-34 budget is like a chess piece. They’re moving them back and forth back and forth – why? Because they’re waiting on something…an exchange rate change. That’s what I believe is happening.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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