Dinarland Highlights – 5.26.23
…they have recovered 20 million dollars of Iraqi money from Kuwait and getting ready to recover 80 million dollars from Credit Suisse. These are funds that were locked up from when Sadaam Hussein moved into Kuwait. So a lot of Iraq’s funds around the world were frozen. They are now unfreezing them because they continue to meet all their obligations. When that act of war was committed…Iraq’s currency was devalued…to take away their ability to make war. They took something that was worth a lot and changed the value to worth not much. Now they are meeting all the requirements so they can do the opposite. We are watching this all play out. Obviously it hasn’t gone as fast as we want it too. Would sure be nice to be across that finish line.
There is some interesting news today. We continue to get very positive stuff out of Iraq. We are looking for budget approval this weekend on Saturday. I was told that after its passed- anytime is wide open for a rate change.
“With documents.. amending the paragraphs related to the region’s dues in the budget, and the Patriotic Union confirms: a historic victory for the Kurds and a blow to the corrupt“
This has been the holdup. Maliki is p*ssed but that’s a good thing and looks like they are ready to vote tomorrow!
Community Question “…The 25,000 IQD tax in the budget for Iraqi citizens to pay if they use the airport and fly. That tax tells me that the parliament must have no clue about the coming rate change. This worries me greatly…If the rate was going to change then 25,000 IQD will equal $25,000 USD with an initial 1 to 1 R.I. This is ludicrous.” One theory is this, notice that 99.9% of the time when you see a tax, a bill, a debt, or a cost, it always ends with 000…
So when they finish what they call the project to drop the zeroes it’s just that simple. Drop the zeroes from the worthless value. So the 25,000 tax is only a roundabout $25 tax to fly…They are adding taxes to a lot of things and let’s hope this is because they expect to make lots of money…”non-oil revenues” in the near future. Let’s hope it’s because they expect people to have money via higher wages, more money via the HCL, and more purchasing power via the new national currency.
The new exchange rate is very close based on all the things they are introducing to you on a daily basis through the monetary reform education. But because the monetary reform education is not complete, the budget may not have the new exchange rate just yet. Look at the line items. The line items will tell you it requires a new rate. Now you believe once you see the budget you will see the news exchange rate. I agree, but do not look for it in the budget.
Don’t you agree that the budget is going to make things a lot more transparent with the monetary reform? The economic reform is already extremely visible. Everybody can see it. Look at all the countries that are pouring in…they never did before. Kind of unusual, huh? Yeah, but if you were in their shoes and you had the ability to come into Iraq and invest you would too. Why didn’t you [investors pour in] last year? Because you didn’t see the evidence as you see it now. It’s loud. It’s clear.
I’m pleased with where we’re at – budget or no budget, new exchange rate or no new exchange rate. All these things are a reality. It’s not fiction and it’s all coming together. Let them cross the finish line together…
They’re doing all the right things now putting themselves in place to strengthen Iraqi dinar. I do believe it will increase value before 2026…in small increments…As far as the exchange rate change in 2026 there’s reason to believe that that exchange rate change is going to be a doozy of an exchange rate change and I have reasons to believe that.
…EVERYONE KNOWS THAT RAY DOESN’T MAKE ANY PROMISES WHEN IT COMES TO THE RV! BUT… THIS “MAY” BECOME YOUR MOST MEMORABLE MEMORIAL DAY WEEKEND OF YOUR LIFE! TIME WILL TELL.
The truth is if the dinar is going to rise it will be the result of Iraq building a diverse economy. They are working diligently to diversify away from oil, past laws and create an investment environment. With the success of Iraq’s economy, they will then be in a position to allow it to rise gradually over time. An increase in the exchange rate is not a random act, but is the result of economic success.
Bruce (The Big Call)
The new time frame is that the budget will be out in the printed version of the Gazette Saturday. The new rate for the Iraqi dinar will be put out Sunday. If you’re good at math, you can figure out the rate based on the budget..but remember, this is the in country rate for the dinar …The rate that has been set for us is way different and much, much higher…Dong rate very strong very high, also… We should be there before the end of the month, and very possibly we see something in the way of our notifications over this Memorial Day weekend.
“Nashville is looking forward to twinning with Arbel next month“
“The American mayor of Nashville, John Cooper announced, on Thursday, that the city is looking forward to officially twinning with the city of Erbil, the capital of the Kurdistan Region of Iraq, next month…On behalf of all the people of Nashville, I say how lucky we are to be known as ‘Little Kurdistan’…We will return to establishing close relations with Kurdistan at the individual level in many different fields such as education, culture, business and tourism.”
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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