Dinarland Highlights – 9.26.23
Question: What about the oil for dinar program…Is that still happening?
MarkZ Answer: I am told that is still happening. That is how we should get more than the street rate.
Many of my sources are looking at the end of the week…since Oct 1st is on a weekend…after that it all explodes…We know Iraq needs a real currency for its full ascension to the World Trade Organization. And this is coming in the first week of Oct.
Member Comment: I would think it would get done soon…with the rumors of the Governor of the CBI being removed because rate change hasn’t happened? Both Sudani and Alaq’s necks are on the line…imo.
MarkZ: Yes they are…and on top of that is the ascension to the WTO on Oct 4th. Things are heating up. It’s do or die for Iraq to get this knocked out.
“Iraq: New law allows foreign companies to own oil output”
“As a founding member of OPEC, Iraq possesses approximately 145 billion barrels of recoverable crude deposits, making it one of the world’s largest oil reserves. With this new law, Iraq seeks to leverage its oil wealth to attract foreign investment and enhance the development of its oil and gas industry, potentially transforming its economic landscape for years to come.”
“Central Bank of Iraq approves new system for external transfer“
They’re turning more and more to the Iraqi dinar for use than the US dollar which is exactly what you want. This will definitely strengthen the Iraqi dinar and as it becomes stronger, the value in the exchange between US dollar and Iraqi dinar will strengthen – They will have more value. We will see an increase in the exchange for the Iraqi dinar.
It really looks like they’re covering a lot of ground really quick. I’d love to see the sanctions removed. I would love to see the authorization for military use reversed. I would love to see them expedited and put into the World Trade Organization. I would love to see this development road…railway get build really quick. I would love to see them finish the Port of Faw real quick. These things all contribute to a booming economy for the Iraqi people. But we’re not there yet. It’s not going to happen overnight.
I still think the dinar is going to go up in increments. I’d like to start seeing some of those increments take place now. I don’t think you’ll see any increases this year but very possibly next year.
Major news coming out of Iraq.
“Iraq to restrict all internal trade to dinars form next year”
This move aims to help control the black market exchange rate. The policy will stop transactions from being conducted in U.S. dollars was announced following a meeting between the central bank governor and representatives of private banks…the US Federal Reserve has agreed to this change…These actions are seen as a positive step in building up the strength of the Iraqi dinar…
“Alaq pointed out the new system of external transfer and the sale of dollars provides protection from risk to all parties to operations and enjoys international acceptance.”
There you go. I think that’s kind of almost a drop the mic situation…
[Iraq boots-on-the-ground report]
FIREFLY: We’re hearing we have the full support and acceptance into the global financial world…All the financial institutions like JPMorgan Chase, all of them are welcoming Iraq Sudani says. This is great for Iraq and it will attract more investors.
FRANK: Even Wells Fargo…
The WTO is going to have a meeting that will announce to the world the introduction of Iraq into the WTO. Does the WTO require an international exchange rate? No. So we’re not going to look for that here…They are going to do this on the 4th of next month…
There are only two things left to do on this laundry list of things for us to get to the bank. What are they? Change the exchange rate and release the lower denominations…at that point, shortly thereafter if not simultaneously. I have the opinion it’ll be on Forex internationally. They’ll have an internationally exchangeable currency. That is when we go to the bank…I would not be surprised if something special happened very quickly.
[Aki Iraqi bank friend update]
Bank here [In the United States] will open October 1st. It will be news coverage. All 700+ of their employees over there [In Middle East] bordering countries and here [US] have a bank account opened and/or had an account for electronic deposits from oil procedures, retirement and salaries opened.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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