Dinarland Highlights – 5.20.23
MarkZ
[via PDK]
Article:
“Iraq builds social security system to protect workers”
They are building long term infrastructure. They are behaving as if they were 100% ready to go. The latest I am hearing in Iraq they expect the budget announcement on Sunday now. I am still of the belief that it is done. My redemption center folks are on call this weekend on a “shortened” call in time. They are negotiating each contract with contractors separately right now and rates are fluctuating. To me this means we are in a float. Because of what contractors are telling me – I know we are close… We have never, ever been this close before…My contacts in Iraq have a lot of expectations for this weekend.
“Parliamentary Finance completes voting on the paragraphs of the budget law”
They are passing and approving sections of the budget law before the pass the whole thing-which I am being told is still expected tomorrow.. Mostly theatre right now imo…they told us we would see this over the weekend and we are indeed seeing it. Expectations are for an early vote tomorrow to officially pass the budget. We are hopeful with the HCL in the budget that we will quickly see a rate change . There is a mechanism in the budget to quickly adjust the value. This is a very important thing that tells us they are planning to change the value.
Redemption center folks are still on call…and on stand-by. I am hoping and praying we are about to cross the finish line.
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Yada (TNT)
A lot of moving parts that are coordinated. The budget is to be voted on tomorrow [Saturday]. The rate release almost simultaneously, and the debit and credit cards were shut down on Thursday for a couple of days and many believe to readjust the rate with the CBI…
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Frank26 (KTFA)
The budget they say they will supposedly have it done by Saturday. Now they’re saying well maybe the early part of next week. I don’t care. I sincerely do not because the new exchange rate does not wait for anything. The budget waits for the new exchange rate. Why isn’t the new exchange rate out?
[Iraq boots-on-the-ground report]
FIREFLY: We have been told for weeks that the budget will be approved with no problem but they keep backing it up and it seems to be something big is up. We knowing about the HCL is part of the budget so we know it’s not going to be like other budgets. We know we’re going to be getting ours as well. Something is happening…
FRANK: Yeah! It’s kind of like the tremors just before the major eruption of the volcano.
Articles about worldwide leaders, their investments in Iraq, their economic explosion. Only because of the success of the monetary reform…An article came out and said they have a quantum leap in their economic growth in Iraq. Only because of the quantum monetary reform. They say, follow the money, well in this case…follow the logic. All the things that you’re seeing cannot be done at a program rate…they’re constantly showing the world look what we have. Now they need to show the citizens look what you have too. And it’s coming.
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Pimpy
People are trying to figure out whether the Iraqi dinar is floating, pegged, what are these terms, what does it mean? ..Iraq is a fixed (pegged) currency. It’s not a float. It’s not a dirty float. It’s not floating at all…It’s 1320 dinar for every 1 US dollar. They’re pegged to the U.S. dollar…It’s not floating in country. It’s not floating out of country. There’s no two exchange rates. Let’s go through what these are…
A floating exchange rate is a type of exchange rate regime wherein a country’s value is allowed to freely fluctuate according to the Foreign Exchange Market…Iraq is not allowed to play with the big boys – not yet…Until Forex recognizes Iraqi dinar…they’re not going to be a floating exchange rate…a Pegged exchange rate system is a currency system in which governments try to maintain their currency value consistent against a specific currency…The Iraqi dinar is pegged to the US dollar. So it’s fixed…A dirty float is when…it will freely fluctuate but if it gets out of whack the government interferes…
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Clare (KTFA)
Article:
“Korean parliamentary delegation: Iraq today is more secure, stable and prosperous..and we will recommend to the government to lift the travel ban to it“
Article:
“The opening of the first factory in Iraq that works with robots with international specifications“
Quote:
“...announced the opening of the first factory operating with robots for the production of high-performance adhesives and fluids in the construction industry,”
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Deepwoodz (KTFA)
Some have said… “How can Iraq afford to come out with such a high exchange rate of 3+ ? How can they afford to pay out to all the other holders of dinars in the world and stay wealthy?” That answer is simple and also explains how their budget can be so big. They don’t actually “pay” it out. The world is in agreement ie..the IMF, the World Bank, and all the other countries who hold dinar, that their currency should be 3+. Who holds the most dinar, soon the most valuable currency in the world? IRAQ DOES.
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MilitiaMan (KTFA)
The parallel market prompted the government to impose dealings in dinars by force by taking legal ramifications. In other words anybody that’s out there now using dollars to do trade is going to be considered a problem.
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Henig (KTFA)
Article:
“Vietnamese đồng one of most stable currencies in Asia: Experts“
Quote:
“Experts from VNDirect forecast that Việt Nam’s foreign exchange reserves will recover to reach $102 billion by the end of this year.“
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CharlieOK (TNT)
.47 for the dong in 2023 is a joke. It was worth $2 plus in the 1950’s. The economy of VN then and now are light years apart.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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