Dinarland Highlights – 10.18.23
I think this is an important piece…. ”Iraq raises interest rates to 7.5% and the economic council is considering raising that rate” This is not the borrowing rate…this is the savings rate. They are paying 7.5 percent to get you to put your money in the bank. This does a couple things…it shores up their economy, stabilizes the consumer (not the government but the people) …So in Iraq they are putting the citizen ahead of the government. It also does something else very important. It streamlines any rate changes. With the money in the banks…they are not as worried about the money changers on the street… This makes it easier to do a re-valuation.
…They are making certain that everything is conducted in dinar from here on out. For government function they can only use dinar…no other currencies…
Question: Do we need a new speaker of the house before Iraq can move forward? We are being told that the ball is in Iraq’s court now…so no…
Question: …are we close…just asking for a friend?
MarkZ: I think we are close…It certainly feels close.
The saga about the Iraqi dinar RV only gets better as the months roll on. More and more pieces are put in place for the inevitable revaluation and reinstatement of the dinar. It has become not a matter of “if” these events will occur but “when”.
Parliament is the reason why we don’t have a new exchange rate, why we don’t have the new small category notes released yet. Parliament is demanding…they know what’s going on with the American dollar which is extremely hypocritical. It’s not even ironic…it’s sickening because they want to know what the problem is. Guess what, they are the problem.
[Iraq boots-on-the-ground report]
FIREFLY: TV saying expected changes in the revenues of the 3 budgets.
FRANK: Let’s translate that into simple language… – There’s a change in the revenue …the exchange rate…your new national currency to replace the 3 zero notes coming. These words are not used in articles today. These words of communication are about the monetary reform are for you Iraqi citizens not for anyone else. Listen to them carefully.
“Iraq raises the interest rate to 7.5%, and the Economic Council is considering increasing the rate”
IRAQ RAISES ITS INTEREST RATE… BECAUSE THEY ARE GOING TO RAISE THE VALUE OF THE IQD.
“The Kurdistan Government announces the adoption of the Iraqi dinar instead of the dollar in customs duties”
“Al-Kadhimi: The decision to increase the interest rate will activate the banking system inside Iraq”
Will increasing interest rates on your account to 7.5% draw people in? Heck yeah it will! If a bank did that in American you would see a lot of people run to it…
“The Central bank’s decision…falls within banking reform measures… of prime minister Al-Sudani’s directives… The decision…will certainly encourage citizens to deposit in banks which will stimulate financial movement…in addition to… reducing the exchange rate of the dollar against the Iraqi dinar.”
That’s really what the goal is…If this doesn’t work there’s going to be other measures that need to be taken in order for them to do something about closing that gap between the parallel market and the set rate of 1320 dinar.
Al-Sudani has been doing very good about being neutral, as he should. There’s no reason for Iraq to get involved in any of the crap. Just keep moving forward. Focus on your people and you should do good. Get all these projects funded. Follow up on it. Make sure people are not stealing money from you like they did in the past. Maintain relationships with everybody and grow your economy. That in return will grow the Iraq dinar.
“Iraq Economy News for 2024, According to the IMF is not Good, Iraq Says Differently”
What the IMF is saying is Iraq’s economy forecast is leaning towards a negative because countries with currencies pegged to the US dollar, except Iraq’s central bank, have followed the US fed’s footsteps and adjusting the interest rates accordingly. In other words Iraq did not follow in the footsteps of the Federal Reserve and as a result the IMF sees Iraq’s inflation rate at or around 9% in 2024 rather than at 3.5% the the Iraqi minister of planning announced. The 5.5% difference is enough to be concerned about.
Bruce (The Big Call)
…our hope is that we get notified – we set our appointments – and at least start Thursday. That’s what I’m hoping that we’ll see if that’s what manifests… you know guys, we’ve been awfully close before, or at least we thought it was that case. And now we’re at that same point of could it happen? …So we hope that this is it…
Their goal is to de-dollarize the country. They’ve been working on this for a long time. Their job is not to specifically say, ‘We’re going to change the rate on Thursday of next week.’ They’re not going to do that. They just will not. I think everybody should understand that by now…
The CBI, they don’t have to convince you or me that they’re going to change the rate. They simply have to convey it to the citizens of Iraq. It must be successful with the citizens. It must not fail with the citizens of Iraq or the whole monetary reform will crumble…they are not trying to gain your trust…they are trying to gain the trust of the Iraqi citizens.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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