Dinarland Highlights – 7.16.23
MarkZ
[via PDK]
From my Redemption Contact in Virginia…a very short, crisp…..”working Sunday”…don’t know what that mean yet. Contacts still saying the 15th thru the 18th…In Iraq they are pushing forward…to be able to process some world class events…
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Mountain Goat
Article:
“IRAQ: REVITALIZING THE STOCK MARKET”
Article quotes:
“…there is an urgent need to activate the role of the stock market as a mirror reflecting economic activity in the country“;
“It is said that the size of the cash block that is hoarded outside the banking circulation space amounts to about 70 percent of the cash issued“
Remember a lot of this cash is outside the country in our pockets and they won’t get it unless they reinstate the dinar and we can go to the bank and exchange at a rate we want as investors. Heck they sold us this currency in a time of need and now, as they are so rich, they have to pay us for it with a higher exchange rate.
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Kaperoni
You’ve got a brand new 30 to 50 story Central Bank building that’s going to be state of the art and you’re going to be represented amongst the world as the Central Bank of Iraq but you’re going to have a weak currency or a currency that doesn’t reflect the actual economic success of your country? I don’t think that’s going to happen. I think that’s why they’re launching…the stock market, the diversification of the economy, all of that is a prelude to 16 months from now.
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MilitiaMan (KTFA)
Sudani…asked to come to the USA and was denied. My view is he was told…three items to get to work on. He did. We now see the UST show up after. So, it appears an assessment was made as to where they were in getting this completed and likely found they were sitting on the ball on the side lines.. not good. Hence the arrests, the Rafadain Bank shake up, etc.. The level of focus now is fascinating to me. The IFC / WB still in town!! Al-Alaq having had a progress report that looked good !
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Yada (TNT)
Article:
“A statement from the Central Bank regarding the campaign to support the dinar”
Quote:
“…the Deputy Governor of the Central Bank, Ammar Khalaf, announced the success of the campaign to support the dinar, and while confirming the application of controls that helped stabilize the exchange rate, he pointed out that there is no problem with the amount of foreign currency supply.”
This statement will nullify a few in dinarland who think there too much money out there. Fact is, that money in the central banks of other countries will be used to invest and buy in Iraq because they will only be using dinars. We are in the best of positions, the one about to enter the banks.
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Enorrste
They’re going to switch from a ‘Keep my money in the mattress’ economy to forcing these people to take their money out of the mattresses and to put it into banks and the banks will then send the money to the central bank and the central bank will burn it...If they want to do any international trading at all they’re going to have to use electronic methods such as Visa/MasterCard…The process is beginning. This is really key to moving toward getting to the float, which is what we’re looking for.
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Petra (KTFA)
Question:
“Would it be your opinion that the UST folks showed up to click Sudani’s heels, or is it more than that?”
It is clear Sadani let them in because his people could not get it done, so they brought in “the pro’s” to make it happen…He wants this now…they [UST] were not welcome with open arms because it demonstrated their inability to “perform!”...if they had done their job…there would have been no need for the UST to travel back to Iraq…Sadani made the commitment…the UST is there to get it done. As to their role, I can only speculate that it was due to the lack of progress with executing the new rate, new notes, etc.
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Frank26 (KTFA)
If you’re fearful that all of a sudden you cannot exchange your Iraqi dinar anymore because the CBI says that they’re all null and void, the IMF has rules and regulations and one of their rules is you have to notify the populace of your time frame. They cannot necessarily come out and say, ‘We’re going to float our currency.’ Without telling you how long they’ll float their currency. Some countries don’t play fairly but I think Iraq has to because of the way they’re under the thumb of the IMF, WB, WTO and US treasury. I think they’ll follow the rules and laws.
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Clare (KTFA)
Article:
“Central Bank: The volume of foreign reserves increased to 113 billion dollars”
Quote:
“Today, Saturday, the Central Bank of Iraq announced that the volume of internal debt has risen to about 70 trillion dinars, and the volume of foreign reserves to 113 billion dollars.”
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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