Dinarland Highlights – 8.10.23
Bruce (The Big Call)
…we were looking forward from about three or four different sources to this going…meaning notifications either Tuesday or Wednesday…Now, the way it stands now, we have not received notifications…but it definitely makes Thursday…definitely in play…Let’s see what happens over the next few days.
[Iraq boots-on-the-ground report]
FIREFLY: Bank friend says he still thinks we’re going to see one more change to maybe 1166 or maybe 1000 then it will get good.
FRANK: I told you the very same thing that there would be one more exchange rate change before the final official exchange rate to start to float and then they can get it to 1166 and they can come out at $1.16 which is fine with me.
FIREFLY: Some kind of new edition of oil and gas law about to be revealed.
FRANK: When you see what this new addition to the HCL law is and you see that it is in position to be presented to the citizens then dog gone it that tells you there is a new exchange rate to give sovereignty to the citizens of Iraq…
“If Iraq goes to 1 to 1 are we also 1 to 1 even internationally?”
Yes, immediately, instantly. For example a 25000 note at 1 to 1 for you becomes…a value of $25,000.
…in the news this period, the International Islamic Bank (IMTB) in Iraq has announced the signing of a strategic partnership with CR2, with the aim of developing banking services. This partnership represents an important stage for the International Islamic Bank…This is all very good news for the banking sector and us investors as it feeds into the three “Pillars of the Iraqi Financial Reform” that they defined in the White Paper which will get us to the RV sooner than later…
“Financial Experts for the adoption of the slogan ‘Our Dinar‘ “
The Iraqi people are about ready to start focusing in on their currency. The Central Bank is doing so and now even financial experts are out there trying to get the media and other entities to be on board.
It’s pretty powerful they’re talking about Iraq is going to join the global financial system. Well, they’re not going to do that with a program rate of 1310. They would have done it already…
News is still quiet. Even things specific from Iraq has been quiet for me…So far no changes in rates…
…Somebody making a reservation at a very expensive hotel in California, went online to try to book a room. As he was about to pay – he noticed something new on the website. They take different currencies as payment- a list of 30 or 40 of them from different countries… including Iraq and Vietnam…The question was asked “Do you know what this means?” and the booking agent said “I know exactly what this means-all the currencies are getting ready to be in line 1 to 1 with each other.“ There are even McDonalds now that you can pay with multiple currencies… Different people at well connected places are starting to hear this…its getting out.
“None of the Projects in the Tripartite Budget can be begun at a Toilet Paper, Program Rate of 1310 +/-. The Tripartite Budget needs the Rate of $ 1.00 USD to $ 1.00 IQD as much, if not more…“
…Iraq’s primary source of revenues is from oil sales…in USD. The MOF is authorized BY THE BUDGET to exchange the USD to IQD for specific approved line item expenses. The rate wouldn’t seem to matter as it only dictates the amount of IQD the MOF obtains and remits for each USD.
If the rate is 1320 and there is an expense that needs to be paid by the MOF of 1,000 USD value, the MOF will exchange the 1,000 USD to 1,320,000 IQD in order to cover that expense. If the rate is 1 USD to 1 IQD, the MOF will exchange the 1,000 USD to 1,000 IQD in order to cover that expense. In both cases, the value of the expense the MOF covers is still $1,000. This is why I am confused when people state that they can’t make the budget work at a “program rate”. They have with every other budget they passed through the years and have continued on the 1/12 system at a “program rate” in the years they did not pass a budget…
Obviously the bank sanctions that were going to be put on Iraq, 14 banks, the Treasury got together with the CBI and they avoided that. That’s no longer a threat. It probably wasn’t a threat to the dinar to revalue in hindsight looking at it and what needed to be done to add value to the currency. There are a few people out there that speculated that it would probably cause it to move forward quicker. I’m not going to agree with it, but I’m not going to disagree with it either. It might be a very valid point, but it’s all mute now because it’s over with.
How do you increase the value of the IQD? ‘Monetary Mass’…the amount of currency in circulation… You can’t reduce the value of the American dollar but you can increase the value of the Iraq dinar. They’re telling the Iraqi citizens this is what they want to do to increase the value of the IQD. Anytime you see this [Monetary mass], they are trying to say they are trying to reduce the value of the USD by increasing the value of the IQD which is the only option they have.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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