Dinarland Highlights – 7.10.23
Mountain Goat
There is not much more we can do but relax and let the reinstatement come to us. …we have not heard even an update on the project to delete the zeros. Normally Ali Al-Alaq is real good at giving periodic updates on this event. He has been back in the seat of CBI governor now for almost 6 months and still no word.I am told by my CBI contact that they are still working on it and plan to do it very soon. This is all the news I can get on this topic.
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Frank26 (KTFA)
We are right on the edge of the cliff of the monetary reform, on our tiptoes leaning forward with our arms open, our head down waiting for a gust of wind to knock us over. That’s how close we are.
Here’s one I get a kick out of, ‘Hey Frank what I belong to is tier 4. What tier do you belong to?‘ The ones coming out of my eyes! There are no 1, 2, 3 , 4 tiers. It’s i-----l. It would be impossible…No. There is no such thing as tier 1, 2, 3 and 4. Everyone goes to the bank and exchanges and that’s it. Nobody gets treated special…
Question:
“Will they be dropping the 3-zeros on a 25,000 dinar note? I’m new to this and I keep hearing conflicting information.“
You’ll find 3-zeros in two places. First of all in the exchange rate. The exchange rate right now for the Iraqi dinar is .0008597 something like that. When they move the decimal point to the right because they have added value to their currency…3 zeros it’ll be roughly about .86. We can round that up to $1. That’s where we’re looking for 1 to 1.
The other place you’ll find 3-zeros is in the currency itself. It’s not like somebody’s gonna take a pair of scissors and cut where it says 25000 out of the physical currency. Of course not. They cut it out of the exchange rate. When they cut it out of the exchange rate it adds value to the currency so the 25000 dinar note outside of Iraq is at 1 to 1 or $25,000 note. But inside of Iraq their exchange rate is what makes that valuable to whatever rate they have…
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Clare (KTFA)
“Parliamentary Finance Talks About The Stage Of Implementing The Budget.. What Are You Waiting For?”
Quote:
“…We will wait for the court’s decision regarding the contested articles that there will be a state order to be issued, and in the event that it is not issued, the Finance will continue.”
Article:
“Wholesale c--------n” in the Rafidain Bank… the most prominent reasons for the overthrow of its administration (documents)”
Quote:
“The current management of Al-Rafidain Bank, which has been withdrawn, is a-----d of several cases, including causing waste of public money and mismanagement, and making administrative transfers on the basis of nepotism and nepotism away from the standard of competence and integrity, and the rise of unqualified people to assume administrative positions.”
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Enorrste
JP Morgan [bank] is ready to leap into the fray…Their words are amazing, ‘Bring it into the world trade system’… They’re [Iraq’s] going to go from being a little regional area to being a world trader thanks to the efforts of JP Morgan signing this agreement with the Central Bank of Iraq. They’re ready to role…You can’t do this in Article 14 of the IMF charter. I s-----t the IMF is behind all of this because they said to the biggest bank in the world JP Morgan get your a-s over there and get this thing on the road. I wouldn’t be surprised to see a change to Article VIII within months…
Getting out of Article 14 of the IMF charter is essential for them to do what’s called international trading.
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MarkZ
[via PDK]
We are expecting…and most of my sources are in agreement that we should have a very action packed first part of this week with news. Hopefully we will get something that dispels the rumor of no RV until “way down the road” or 2024 or whatever…They are trying to keep the riming “cloudy” Especially in Iraq. So when you hear these things- do not panic.
I hoped we would get news today, but it is still VERY quiet. Some rumors about Iraq announcing new bills on the street in the next day or two but otherwise, very quiet...it’s quiet on almost every RV front. Nothing overly exciting in the news but nothing negative.
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Sandy Ingram
The good news is the mainstream news media is saying the IQD is expected to increase in value as the country becomes more stable.
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Pimpy
Question:
“Kuwait has $3.29 dinars. What do they have that Iraq doesn’t?”
A currency that’s free of sanctions and restriction is what they have.
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Paulette (KTFA)
It looks like the weekend of 7/14-7/16 will be a Holiday weekend with the New Year on 7/18. Shabs said “…..after Eid, before the New Year…..” Perhaps the next target since they missed 7/1…
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MilitiaMan (KTFA)
Iran is talking about circumventing using the dollar, which they’ve been after all this time but now they want to use the dinar. There’s obviously something going on. They know there’s some change is about to come and they want to be a part of that. They are one of the largest trading partners for Iraq.
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Babysmom
OK I JUST GOT PERMISSION TO SHARE THE FOLLOWING INFO. THE CITIZENS OF IRAQ WERE TOLD THEIR RATE IS CHANGING TO ONE TO ONE, THEY WERE ALSO TOLD THAT THE RATE WILL FLOAT IN IRAQ. THEY WERE TOLD IF THEY DIDN’T TURN IN THEIR 3 ZERO NOTES THEY WOULD MISS THE OPPORTUNITY TO CHANGE THEM FOR THE LOWER DENOMINATIONS. THE 1:1 RATE WILL BE IN IRAQ ONLY AND THEN WE’LL FLOAT HIGHER. OUR RATE WILL COME OUT ON FOREX HOPEFULLY AT A MINIMUM OF$3.81 USD TO 1 DINAR.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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