Dinarland Highlights – 8.11.23
“CENTRAL BANK THREATENS EXCHANGE COMPANIES WITH UNPRECEDENTED MEASURES”
“The Central Bank of Iraq issued new directives that included strict measures on exchange companies, reaching the point of withdrawing their licenses and denying them access to the window of buying and selling currency.“
WOW! So the CBI is VERY serious and its about time!
banking story…From a reader: ”…my mom…mentions to me that a private client service from her major bank has been trying to get in touch with her in regards to the dong she has purchased…she made the appointment with the branch manager. This manager knew all about the QFS, and dinar, dong and Zim. She advised mom that she has to have at least $100,000 in cash to make an appointment with private client services. My mom has $800 bucks in her account. So the appointment was made on the basis of the future value of the dong which she purchased through that bank…The appointment with the VP of investments private client services will be this coming Monday morning…So we should get news on that then if we have not already crossed the finish line.
It absolutely could be a float. But that is not what I hear from my banking side. A float in-market and since our dinar is being claimed through the oil for dinar program and paid over time…we will get a contract price. Both stories make sense. I am just telling you what my sources and I believe. But anything under $1.30 doesn’t make sense for them…mathematically…for their budget and what they need to accomplish.
Question: If it’s a float-how will exchanging it at a contract rate work?
MarkZ Answer: I am told they will still have redemption areas…they will still have trained staff to prove the validity of your currency.…I am also told if it comes in at a float they will offer you a multi currency account so you can deposit it and hold it as Iraqi dinar…. But the goal was to be in the $4 range…lets see which way they go.
I could be wrong but I honestly think we will see it before the 20th… …this weekend or next week…I do not know that answer. But I don’t think I have ever felt this good about things.
[Iraq boots-on-the-ground report]
FIREFLY: TV from CBI talking about central securities deposit system. It’s on the news. FRANK: Whoa! That’s big. How else are you going to control this ‘monetary mass’.
FIREFLY: TV right now talking about how the oil and gas law will end all disputes with the regions...Sudani sees the situation and has brought the two sides together and this oil and gas law will bring stability and open all files.
FRANK: Stability equals sovereignty. Sovereignty is the national currency and the files is the whole budget.
“Do you think we may get a sudden shock – the new exchange rate, or more likely to gradually grow over time?”
We told you last month that IMO a third change in the exchange rate would occur. Let’s see if that happens…it has been gradual.
“The Iraqi delegation in Washington paves the way for the Sudanese“
“…there are usually preliminary meetings related to the strategic framework agreement, prior to reaching the summit meeting between the two parties,” and it is likely that “this meeting will include US President Joe Biden and Iraqi Prime Minister Muhammad Shia’a Al-Sudani.”
They want to ween themselves off the dollar. We’ve seen numerous things about the dollar being phased out because the multi-currency practices aren’t allowed and the black market is an illegal market…they don’t want that illegal side of things anymore…
…they are doing a lot with the budget and finalizing disbursements and allocations. They are getting ready to spend money. Some of those time frames are coming on us quickly…I think things are pretty darn exciting.
They are going to need the exchange rate change to value the oil and gas law so they can distribute the wealth to the citizens.
“The Iraqi delegation in Washington paves the way for the Sudanese”
Looks like the delegation from Iraq is here in the United States meeting with our officials over here in Washington. Looks like they’re doing all they can to prepare a visit from Al-Sudani…
There’s an email being blasted out about Warka [Bank in Iraq] selling stock in Warka, where you can buy shares and own a share of Warka. I have not been able to confirm that and I know people who work at Warka so that’s not a good sign. Even if they did offer that I sure as hell wouldn’t get into that…It’s backed by the CBI but it’s also sanctioned by the CBI. Until they open everybody’s account I’m not doing anything with Warka. I’m not afraid of losing my dinar or anything like that and if something like that did come up we have a lock tight mother scratching lawsuit that we will win and they will suffer. I’m not worried about that.
“At 1310 they could roll it out but would run out of money due to high cost of materials needed to be brought into country without a new rate, a new rate will allow them to buy more materials …1310 will bankrupt them internationally”
I am not sure why they would run out of IQD to bring materials into the country. I thought that they have to pay for all imports with USD, The IQD is sanctioned and not able to be used to pay for imports. Isn’t this the whole reason for Currency Sales of 200 million plus daily in order to pay imports?
Bruce (The Big Call)
It was going to be Wednesday or Thursday we would be notified – and we’d be exchanging Thursday or Friday – hasn’t happened…And if it in fact got started in Iraq…which we haven’t confirmed, we’re having difficulty getting the confirmation out of Iraq. However, if that did happen, then everything’s moving forward in that light…We’ll have to see how it goes in the next few days. Maybe something happens before and during the weekend. Maybe… next week. We’ll just have to see what happens.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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