Dinarland Highlights – 7.30.23
“The US ambassador in Baghdad announces the success of her mediation between the Iraqi Central Bank and the US Treasury”
“The US Ambassador to Iraq, Alina Romansky, announced that the US Treasury will not impose sanctions on Iraqi banks due to money laundering fears. ‘Yesterday, I participated in a call between the Treasury Department and the Central Bank of Iraq (CBI) about the recent US measures to restrict 14 Iraqi banks from dollar services after money laundering concerns…CBI took appropriate and prompt measures. No sanctions were imposed on any Iraqi banks.’
Sudani did say the Dinar will be stronger than the dollar. There is a lot of talk about the dinar –on the streets and everywhere. It’s all about the exchange rate. This is definitely a big topic…even on the streets.1132 is not going to help them…To me…they are keeping this correction hush, hush…we saw the Arabic side of the budget was published and read by people at 1.3. A Forbes article said 1.3 and they have been keeping it tight.
I do not think this 1310 or 1.3 means $1.30 cents. I think it’s a reciprocal of 1 to 1 and that would be about .77 cents …like dropping the 3 zeros…Then once they apply the REER (Real Effective Exchange Rate) the game is going to change. Their purchasing power is going to change. Their projects in the budget are going to be funded.
[Iraq boots-on-the-ground report]
FIREFLY: Some currency expert is on the news, on the financial section and he’s saying the future of the dinar could reach 3 to 1 with the American dollar by the year 2025.
FRANK: I believe he’s from the CBI…that can only happen in a float. That’s the hot theme I’m trying to teach you. The international float is the education of monetary reform being drilled into the citizens right now. That’s the phase of monetary reform education right now. The external international float of their national currency that’s soon to come…To see a float over a year and half is logical and stable.
Is the governor of the CBI the one that makes the decision on when to release the new exchange rate? Turns out it is the Board of Directors.
Professionals in the currency industry use statements like “Things can change suddenly in the Forex world.” You must be prepared to protect your profits or you can lose 30% of your wealth the day you realize your currency gains…The wealthy have an unwritten iron-tight rule which they do not teach in public schools – You never spend your initial profits. You use these profits to generate more profits. You keep your day job until you can replace your monthly income WITHOUT touching your initial profits…This info is for the new wealthy or exotic currency investors…
…Opening a dinar denominated checking or banking account at Chase for instance as a possibility. If it’s denominated in dinar and the dinar goes up, then you’re already home free, convert dollars right to your bank. You get rid of that whole problem of taking 10 million dinar down to downtown Los Angeles and going up 15 stories into some building and hoping you don’t get rousted before you get there.
They can only change the rate at a certain time because that’s how their new budget is structured. It’s time specific sensitive. Because of that that’s the reason why it looks like nothing is getting done. The timing of the budget has to do with the timing of the rate change. They are paired and linked together…
The VERY good news…is that the honest Iraqis are waking up and it will very soon become public knowledge that they MUST liberate the dinar and this is the real and only solution. When I talk to my CBI contact I am still told that the Project to Delete the Zeros is “not off the table” and is going to be executed shortly…
They are talking about the float now. They are doing a lot of work about the international connections and everything that’s connected to the float... 3 to 1 at the onset is ridiculous. It’s better to have small incremental pip movements of let’s say $0.50, $0.60, $1. That would be more logical.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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