Dinarland Highlights – 6.21.23
Mountain Goat
I feel we have been in a critical period of the currency reform program since January of this year 2023. Now we are in a “vital” period since the three-year budget has been passed on Sunday June 11th. … I quote from today’s article – “The budget needs formal approval from the Presidency of the Republic within 15 days and after publication in the Official Fact Sheet to be effective”. Now we wait for the president of Iraq to ratify the budget. He has told us he is going to “take his time and review it carefully” …According to the Iraqi constitution he has 15 days from the date it was delivered to his desk (June 15) to ratify it, that brings deadline to
July 1.
______________________________________________________
Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Bank friend said when the new security laws are passed that will allow the private sector to explode and Iraq could legally go international with the currency or may float or to reinstate. But parliament is on a month break…
FRANK: …Security law does need approval. It will happen. There’s a good chance it’ll be passed after they open the budget but remember Sudani can always call parliament back early if he chooses. I believe they’re going to use the full 15 days.
FIREFLY: The central Bank Governor talked about raising the rate of daily transactions and he talked about hard currency abroad.
FRANK: Hard currency is your new national currency. The program rate is not hard currency.
FIREFLY: He’s also talking about there’s another campaign to straighten the dinar with us Iraqi citizens. He saying how the dinar’s strength will grow.
FRANK: What do you think that is? A new exchange rate, the lowering of the American dollar in your country…they are educating you on the monetary reform.
The key to the new exchange rate is the budget…The key to be a member of the WTO is what’s inside that budget.
______________________________________________________
Clare (KTFA)
Article:
“Al-Kalabi: The President of the Republic did not sign the budget in order to study it well, and he has “15” days”
Quote:
“he has a validity of 15 days, and if it is not approved this week, it will take place after 15 days, 7/1, the budget will be launched, God willing.”
“urgent… The President of the Republic ratifies the budget law“
Quote:
“Today, Wednesday, the President of the Republic, Abdul Latif Rashid, ratified the Federal Public Financial Budget Law…approving the budget is a turning point for the government to implement its program, which includes securing the necessary needs of citizens, providing basic services such as health and education, rehabilitating the infrastructure and initiating vital and strategic projects that will positively reflect on the reality of the situation daily life of the citizens.”
______________________________________________________
Babysmom
PRESIDENT OF THE REPUBLIC HAS APPROVED THE BUDGET. WE ARE WAITING ON NEXT STEP INFORMATION…
Advertisement
______________________________________________________
______________________________________________________
MarkZ
[via PDK]
The budget was signed today…“the President of the Republic of Iraq announces the ratification of the budget law.” …one of the massive steps we were waiting on is now complete. There is nothing holding them back at this point…as we understand it. The Kurds are happy…the banks are happy…everybody is happy. We just don’t have a rate yet…With the budget signed I think we could go at a “any moment” scenario.
______________________________________________________
MilitiaMan (KTFA)
The 25k notes – if they change the value – that value goes with it because you can’t have 2 exchange rates with an international currency. It’s not going to work. Never has been even suggested…the project to delete the zeros is real. It’s not off the currency it’s off the exchange rate…
They’re talking about establishing a city that’s a financial and business center in Iraq…Could you imagine one square square mile or a half a mile of high-rise buildings all for a financial district on the amount of money that’s going to cost? The amount of materials it’s going to take to do that kind of endeavor? They don’t have enough dinar at 1310 to ever do that.
______________________________________________________
Pimpy
[Response to Militia Man’s 6-20 & 6-21 posts below]
About a year and a half ago Iraq mentioned they wanted to remove the 50,000 and 25,000 dinars out of circulation and use them specifically for bank transaction or large business transactions…What he’s not understanding is if they go to redenominate/remove zeros off them that doesn’t mean they won’t keep the large denominations to do business transactions…But if you’re carrying around 25,000 and 50,000 dinars as a civilian you’re going to have to trade those in or you might risk the chance of losing out…because it becomes obsolete.
So will they continue to use the 50 and 25,000 dinars to do large bank transactions? Of course that’s possible. Will the dinar note look the same as we know today? Heck no. Those notes will no longer be any good. He’s mixing two things up. He’s talking about the banknotes where they delete the zeros or LOP off the zeros and the exchange rate…
Wikipedia Quote:
“Redenomination itself is considered symbolic as it does not have any impact on a country’s exchange rate in relation to other currencies. It may however have a psychological impact on the population…”
So it has nothing to do with the exchange rate.
Article:
“Iraq Pays Its WTO Membership Amounts”
This is good news. Iraq has finally paid their membership dues and they can continue to move forward doing what they need to do to ascend into membership with the World Trade Organization.
______________________________________________________
Advertisement
______________________________________________________
Walkingstick (KTFA)
[via Frank26]
Question:
“What do you think about the WTO?”
I think the WTO is a big telltale sign. Member of the WTO can have multiple currencies to buy, sell and trade with but it really is not a smart thing to do. I know Vietnam uses multiple currencies. I know they keep their rate down but I also know they don’t really have that much trade like they want. They’re growing globally but to be a member of the WTO you can use multiple currencies. Iraq has decided to only use their currency…Powerful that is for the international world…
______________________________________________________
Paulette (KTFA)
The CBI has a lot to accomplish prior to Budget funds being disbursed. Look at how busy Alak was this [past] weekend. Hopefully, we see the implementation of the “Delete the Zeros Project” prior to the Budget becoming law and certainly hope before any funds are disbursed. Simultaneously or shortly after the implementation of the “Delete the Zeros Project”, hopefully the IMF launches the Reinstatement of the IQD magnifying the purchasing power of the budget disbursements allowing for all those rebuilding projects to be funded…. If we are to see the RI this year, we have a huuuuuge window ahead...
—
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © Dinar Chronicles
