Dinarland Highlights – 7.25.23
MarkZ
[via PDK]
From Iraq:
“The crisis of the rise of the dollar returns to the fore…and an upcoming parliamentary procedure”
We are starting to see this number…this parallel price of 1132 for the dinar against the dollar. It is not trending there yet but is part of what they have been doing the last few days…They are doing this in articles all the time. They list the rate one way…then in the same article its listed another. The important part is they are trying to get to the parallel rate. I have been told repeatedly that when they do they are ready for the big rate change. At least this is progress…This thing is going to take however long it’s going to take whether we like it or not…It’s going to happen guys.
Rumors are all over the place right now…that today is going to be huge and tomorrow will be great…I am hearing a lot about the 27th for a few days now…rumors that people have money …I just have not seen that economic receipt yet. But, I am seeing a lot of people under an NDA or being effectively “hushed” right now. That makes me feel warm and fuzzy…
I have been getting calls and messages all afternoon about chase banks…about systems being down, remodelings, closing branches, adding virtual branches…all kinds of craziness. Rumors are flying and its very interesting whats happening at Chase as they prepare for the brand new system…The official story is they are simply downsizing banking. More and more people are going electronic… they are automating as much as they can to save on labor. The unofficial story is a number of employees are telling folks they were told to expect a lot of new wealthy customers. We are gearing toward wealth management.
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Mountain Goat
On Thursday, the Central Bank of Iraq issued instructions to all licensed banks and non-bank financial institutions not to deal in dollars with 14 of the Iraqi banks. I can see that if these i-----l dollar cash transactions continue the CBI will close down these banks. It’s coming and this will help tremendously in bringing down and keeping down the value of the dollar against the dinar. This may be the last step in the banking sector that needs to be addressed. The diversification of banking practices to make profits with products outside of currency exchange spreads, will come naturally once the free market economy kicks in. The 3 year budget is now open and the money is being dispersed to the districts for projects.
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Frank26 (KTFA)
Articles Quote:
“The parallel price means the exchange rate of the dollar in the market and exchange offices, and not the official rate set at 1132 dinars per dollar, according to the decision of the Board of Directors of the Central Bank of Iraq, which was approved by the Council of Ministers.”
That rate is the goal of the CBI right now…They’re telling the world, citizens, everybody, you that their official rate is 1132. Yet what you see on the CBI website is 1320.
…Why? Because they are trying to de-dollarize.
Why? So they can bring in the new exchange rate with the new currency and new value.
Why? Because that is the only way Iraq will be able to protect itself from…Iran that steals their money…
[Iraq boots-on-the-ground report]
FIREFLY: The CBI is saying the banks are to refrain from using the American dollar but they can use the dinar and they can use international currencies outside of Iraq other than the dollar.
About two weeks ago it was nothing but IMF, last week it was nothing but the government of Iraq and now this week it’s all about the CBI. The CBI took the microphone, ‘Get out of our way!’… Who? Basically themselves. Who’s in charge of monetary reform? CBI. Who’s gonna receive the new exchange rate? The GOI. Who’s doing all this? Alaq, the governor of the CBI and Sudani the PM of Iraq. They’re sitting there saying, ‘Get out of our way.’ Who? Mainly those little things are Iran. It’s the parliament in Iraq which is Iran influenced…
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MilitiaMan (KTFA)
They’ve been having problems with the parallel market…but they’re going to actually try to resolve it…Right now the dollar and dinar are being used in the country…multi-currency practices aren’t supposed to happen. There’s legitimate reasons for them to be able to use the dollar…the dinar is the currency of choice from the central bank. It’s by law…
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Pimpy
Article:
“Iraqi Dinar retreats on 14 banks’ sanctions”
Most of the news today is pertaining around the exchange rate. We know there’s a problem. I spoke about this before. I was a little concerned about what would happen between Iraq and the United States once Iraq and Iran made their little deal to circumvent the US sanctions. We’re starting to see what is happening. These sanctions on these banks are starting to affect the exchange rate.
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Nader From The Mid East
Since December 2021 they started to build the country. They started to fix their economy. They start to fix their private sector. They start to fix their banking system…international system …the dollar against the dinar…the dinar himself…He needs a lot of work. I told you before..whoever put the dinar down, that’s the person who’s gonna put the dinar back up…It’s not the CBI. It’s not the government of Iraq and it’s not government of the United States.
The government of the United States can help, yes. The government of Iraq can help, yes. The CBI can help, yes. The call is the Treasury. The call is on Forex. The call is on all this World Bank and all that stuff. It’s not on CBI…The CBI can only get better, do better a job and get stronger and get more money, more reserves, more goals, more things like that for the dinar to go up for these people to decide, ‘Okay, Iraq has this, this, this, this, the dinar is worth this much.’ …Iraq is doing a lot better, yes.
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Walkingstick (KTFA)
Iran wants to stop the HCL because Iran can’t exploit Iraq’s money anymore. Their money grabbing is coming to an end and they are very angry about this…you would think that with so many being busted left and right that they’d stop stealing but they are so stubborn…
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Clare (KTFA)
Article:
“Economic warning of Iraq’s return to Chapter VII”
Quote:
“Economic expert Abd al-Hasan al-Shammari warned, on Monday, that Iraq would return to Chapter VII and impose sanctions on it due to banking violations of the Swift system, stressing the importance of diversifying the sources of the economy and trade exchange with capitalist countries.”
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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