Dinarland Highlights – 9.7.23
Question: If IQD and VND have agreements…will they not float up together?
MarkZ: I do not expect a float. But, I am prepared in case there is one. I expect a substantial change in value …then maybe a small float.
…lots of quiet…but its enough to get some a little excited. I really thought we would some leaks or news by this morning…but I don’t have them yet. We just need to stay calm and patient.
Iraq records the highest oil revenues since the start of 2023 which is also 2/3 more oil pumped than in 1991. The dinar rate in 1991 was over USD $3. So why is the currency still being under valued? Yes, it is important to get out of a “rentier economy” based solely on oil and this will also create yet more wealth. But what about right now…I am talking about today! Doesn’t the oil wealth mean anything? Doesn’t the 113 billion in reserves and 132 tons of gold mean anything? Not to mention all the minerals and agricultural products being exported. So why still at 1/6 of a penny?
I address this question to guru Kaperoni who still thinks Iraq has to grow their economy first to get the current TRUE VALUE of their currency reflected in their rate. SO grow it to what standard? What is the benchmark when they would turn on their currency? Did they shut it off because of the war and so the war has been over for 20 years. Yes, that is Obama’s plan not Dr Shabibi and it is a bad plan and will not work. Iraq needs its currency to grow the country and it’s economy.
“Will we have to pay any kind of tax after or during the exchanging of the dinar for American dollars?”
When you go to the bank and you present your dinar…don’t leave your eyes off of them. You make sure that you see your account has been credited…At that point they are not going to say to you, ‘Ok Mr Frank you have 1 million dinars you owe $300,000 in taxes.’ A bank doesn’t collect taxes. They’re not made to do that…They don’t have the facilities to collect taxes from you as an individual…
Bank friend believes the rate is 1132. The CBI deputies have to post that on their page by law if not International…he thinks the official rate will not be shown to anyone right now. But he keeps telling me with force that he thinks it’s 1132 unofficially known to everyone…He stands behind this.
FRANK: How many times have they come out and told you the exchange rate is 1132. They tell you not to pay attention to the lie of the street rate which is 1320. They keep repeating it to you for a very good reason…
There’s no such thing as an NDA…‘Here, sign this. I don’t want you to say a single word about what you’re seeing ok?’ | “Whatcha gonna do?” |’I don’t know.’ | “What are you going to take me to court with an NDA? You think they’re going to recognize it? You think this is a legal term?” | ‘No.’ | “Then get out of my face NDA! “
We have Standard & Poor giving them [Iraq] a stable outlook to an increasing positive outlookbecause they’re now exporting agricultural wares and they have non-oil revenue streams coming in at the borders. That’s why they’re beginning to look good – because of the investment environment is ripe…
“Washington: We call for resolving the differences in Kirkuk through dialogue and activating Article 140”
BANK STAFFERS ARE FRUSTRATED, THEY WERE “TOLD” BY UPPER MANAGEMENT TO EXPECT LARGE CROWDS LAST WEEKEND GOING INTO THIS WEEK. BUT, THERE WAS A HICCUP THEY WERE NOT AWARE OF AT “THAT” TIME…WE’RE RECEIVING ADDITIONAL COMMUNICATION REGARDING THE “HICCUP” BEING RESOLVED. IT’S ON NOW!!!!!…$$$$$$$…WE’RE GETTING ADDITIONAL COLLABORATION ON THE “ANY MOMENT, ANY TIME” THOUGHT PROCESS. HOPEFULLY, THE CLOCK IS “TICKING” AS WE SPEAK!
…Separation, internal conflict, corruption and security issues when it comes to international investors are the major reason holding up economic stability in the country, ie the increase in the Iraq dinar value against the U.S. dollar.
There are only two options for the Iraqi dinar, one is to allow it to gradually rise over time via a float giving them the opportunity to withdraw the large amount of currency and circulation. Or two, redenominate LOP the dinar making 1,000 dinar equal to 1 dinar which is a neutral event and you’ll make little to no profit…Not what we want.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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