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Dinarland Highlights – 7.4.23
MarkZ
[via PDK]
From Iraq:
“Parliamentary work-no increase in social benefit salaries and 600 thousand families will be included”
What they are meaning is – in their budget they are going to increase the salaries for people on disability etc…so they haven’t increased the salaries yet but have added 600 thousand new families…this math does not work without a value change. We are watching as they are rolling out their new projects in Iraq and they are going to need the new rate.
Everyone I talked to is squarely expecting things to happen on the 5th. We will watch and see if anything happens in the morning…If by any chance we get breaking news today I will let you all know…Would be a good time to squeeze in the RV. Nobody is expecting it today.
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Frank26 (KTFA)
The budget is not officially open to the world just yet…Sudani is working on the inners, is working on the exchange rate…the program rate is not enough gas in the tank to get the $63 trillion worth of projects done. Absolutely not. There’s just no way possible.
Question:
“Will the float go fast or slow?”
IMO it’s going to go at the speed of light. It’s like a man that was in prison for 50 years and he comes out. He’s going to do everything that he couldn’t do in prison at the speed of light.
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Mountain Goat
I am attempting to stay in close contact with the CBI during this revaluation process. …we still have not see any real news from the CBI (Ali Al-Alaq) itself on the project to delete the zeros. This project is pivotal in the revaluation and then the reinstatement…so why is the CBI staying so quite if they plan to reinstate the dinar anytime soon… I can’t figure out why the reinstatement has not already occurred. All the outward signs are way too obvious now. Is there still something to do? Since my contact in the CBI assured me the “green light” has been given a week ago why are we still sitting here? …My only guess is that maybe the CBI wants to revalue one more time…closer to 1000?
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MilitiaMan (KTFA)
The budget is an investment budget and they have not exposed it yet. They’ve voted on it on the 12th last month, 21st went into the gazette and they still have not opened it...Vital project of getting their money and disbursements is what we’re waiting for. What we’re hoping and expecting to see is a change in the exchange rate will be applied to their budget which we believe there’s a clause in the budget that allows for adjustments to the budget whenever necessary…
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Pimpy
When you learn about what strengthens a currency – Iraq doesn’t have it. They don’t have it at all. The fact that 95% of their entire budget is reliant on oil tells you right there alone the currency cannot be stable enough to increase in value. There needs to be more money generated inside Iraq through the private sector/public sector. It just can’t all be oil…
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Sandy Ingram
Iraq made financial headlines when it boosted gold reserves by 2% in one day. To understand why this is major news, let’s compare it to the fastest-growing currency against the US dollar, the Swiss frank. The rapid rise of the Swiss franc, happened in 2015. One single event is responsible for the Swiss franc blowing up. The Swiss National Bank suddenly withdrew the peg of 1.20 franks per euro on January 15, 20215. The central bank stated this was requested since the peg was no longer viable. In the immediate aftermath…the currency surged 30% against the euro and 25% against the US dollar. The decision shook the Forex market and put several foreign currency dealers out of business...
This is how your finances can change in one day…Here are two reason why the Swiss currency is so strong…Switzerland has a long history of low debt and fiscal responsibility. And the nation has hard assets such as gold reserves…What is the bottom line? Low debt and high gold reserves. According to Statista, Iraq has extremely high debt, the national debt is estimated at $210 billion US dollars by 2028. This is why Iraq booting its gold reserves by 2% in one day is breaking news and good news for Iraq…Once Iraq finds a path to reduce debt and increase revenue outside of the oil industry, its currency will increase in value.
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Walkingstick (KTFA)
After the new exchange rate goes to 1 to 1 this 64 trillion dinar budget would be on par with 64 billion dinars. Notice that’s dinars to dinars. That would be equivalent to $64 billion as well…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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