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Dinarland Highlights – 9.29.23
Mountain Goat
Question: Will there be a cap limit on the dinar when exchanging?
Mnt Goat Answer: Yes, the IMF will place the dinar initially on a managed float and I was told around a $9 cap but that was years ago and things have changed…I wouldn’t be surprised if we witness up to $12 before they cut it off. Dr Shabibi told us in 2011 that the dinar back then could sustain a rate of $16…They are now pumping 2/3 more oil and have agriculture exports now and also 132 tons of gold…They are filthy rich! I am seeing a constant rate of about USD $3.80 – $4.25 range on the back screens at the bank right now…
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Frank26 (KTFA)
CSC is the Central Security Custody system. Somewhere between the 28th and the 1st and these next 72 hours this CSC will go into effect because it was a mandate from the BIS to make sure Iraq was ready on the 28th to do international transfers…The auctions we believe you will see a change in them on the 28th…This is an important step. There are many steps that are occurring right now at the end of this monetary reform that are important.
Security and stability. Mission accomplished…That’s what it boils down to. That’s what we need for the monetary reform to come out…
What do you think the rate will be when it comes out? I don’t care! What I care about is for them to announce in 72 hours they’re sanction free and their currency is restriction free… international. If it’s international hello Forex…What will it turn into, that’s what you need to be paying attention to and at what speed...It ain’t going to be no 6 months to a year before it reaches the potential of the Middle Eastern exchange rates of 3 to 1. No. Shoot, you’re going to sleep, the next morning, boom!
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Clare (KTFA)
Article:
“Reinforcing the Iraqi Dinar: A Shift in Iraq’s Monetary Policy”
Quote:
“In a decisive move to strengthen the local currency, the Iraqi Council of Ministers has mandated that all local contracts be denominated in Iraqi dinars. This decision is a notable departure from the previous norm of executing contracts in US dollars.”
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Goldilocks
Article:
“The Central Bank of Iraq (CBI) intends to limit all domestic trade transactions to the local currency starting next year.”
I found another article letting us know that the Iraqi Dinar will go International early next year in domestic trade transactions. They will use their local currency to make these trades around the world and the price pressures that come with it to increase demand for their currency will create authentic exchange rates.
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Pimpy
What you’re hoping for is Iraq to start de-dollerizing so they can start strengthening their currency…Things are looking really really good for Iraq. Hopefully things will start to change. I know there’s a lot of prosperity that’s going to be coming to the Middle East. I’m sure Iraq is a big part of that…
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Bruce (The Big Call)
[via WiserNow]
Let’s talk about rates…you know I have been asked not to do that so I don’t…But I try to approximate or get close… Banks screens – Banks screens for you – Both dinar and Dong are in double digits…Dinar was higher – but both were outstanding…
…they’ll have their new rate out on Sunday. Whether it goes in the Gazette or not Saturday, doesn’t really matter but it may – they are, as I mentioned going to be, like the independent nation and a sovereign state. They’re going to evidently talk about that a little bit when they bring their new rate out internationally on Sunday…what we heard…from our redemption center contacts, we really aren’t looking to get notified over the weekend, anything is possible. We are hearing…that we should get notified on Monday...So that’s the timing that we have right now…I really truly believe they finally hit the end zone… I believe we should be good to go.
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MilitiaMan (KTFA)
The de-dollarization of the country is happening before our eyes. If they’re telling you they’re restricting all transactions to the local currency the dollar in the country is going away…The parallel market or black illegal market once they fix this is going to be see you later, bye.
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Angel1
Sunday, Alaq makes an official announcement… there’s going to be massive important shifts in external transfer mechanism and it says this came after an agreement between the CBI and the US Federal Bank. What they’re saying is at the end of the year, January 1, the Central Bank of Iraq’s auctions will be completely different. They will be run like all the other international central banks of the world. That’s what will happen January 1. That’s an announcement.
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Kaperoni
There are many countries around the world with weak currencies, and Iraq’s currency will remain weak until they diversify their economy.
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Breitling
They [Iraqis] are selling more oil than they ever have at a higher rate.
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Sandy Ingram
More than a few people are saying we are unwise to expect that the IQD will revalue to $1 or $2. What people outside the IQD investment do not yet understand is this – Even if the IQD only increases in value to $0.20 to 1 Iraqi dinar, in the beginning, many people would experience a profit of $200,000 [$0.20 X 1,000,000] or more. This is when visitors stop talking down to IQD investors and start asking where can I purchase the currency…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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