Dinarland Highlights – 10.21.23
There is still lots of chatter out of Iraq…there is a huge project that is underway right now as they look to fix their housing crisis. “Bismayah New City” This is part of the national housing program …massive new city about 10 miles north of Baghdad. Huge project and they have already broken ground. Where is this money coming from? How are they planning the potential 600,000 population city with houses, high rises, entertainment…you name it? It’s clear Iraq is planning for prosperity. They are going to need a new exchange rate to justify this city…imo.
Bruce (The Big Call)
…we heard that once the currency sellers stopped being able to sell…It was our turn…what is remarkable about this, we have three confirmations so far from currency sellers, that they have been advised that they are no longer to sell these currencies that we have – which is dinar – Dong…there’s a bunch of others that are going up in value…they are no longer able to sell those after 11:59pm [last] night – Friday night…Central time…Then all those currency sales will be shut off…that’s great news for us because I think that sets the bar for us to get started.
I missed this one when it first came out.
“Exclusive: Iraq to end all dollar cash withdrawals by Jan 1, 2024, central-bank official says”
We should see how this affects the value of the Iraqi dinar. I have a feeling come 2024 we’re going to start seeing those increments happen. There’ not going to be large but at least they’re going to be heading in the right direction. Stopping the use of the US dollar is a major step towards strengthening the Iraqi dinar.
I still think over the next couple 3 years you’re going to see the dinar continue to go up in increments but you’re not going to see any real major changes until…they get off sanctions. That’s one thing, we also want alternatives to revenue generating other than oil…Iraq is headed in the right direction.
Humanitarian projects…800#s, numbers on the back screens, somebody with magical codes, redemption centers, all that is bull shit...I’m not saying I don’t want to do one [humanitarian project] but I’m saying it’s not a prerequisite to exchange your dinars…I encourage people to do humanitarian projects…You don’t have to do a humanitarian project…but there’s going to be an overwhelming feeling to want to do humanitarian projects as soon as it happens…
The goal is to get to 1 to 1 for what reason? To add purchasing power. There is the key, to add purchasing power to the currency of Iraq. I didn’t say the Iraqi citizens are going to get rich. I said to add purchasing power to buy good and services with their currency…
FIREFLY: There’s a restaurant coming into Iraq. It’s called Johnny Rockets. It’s a burger join.
FRANK: I told you the whole world is pouring in…When you stop and think about it, those places that are coming into your country, they’re either stupid or they know exactly what the monetary reform is about to do for them and you Iraqi citizens…
“Many years ago Dr. Shabibi said the dinar would be able to support it up to $16. Would that still be true for the RI?”
No, it’s far past that but it would be illogical to come out at $16 or $28 or whatever. You need that margin for the float. You don’t need it to show off. That’s what Kuwait did and they realized their mistake…The next day they brought it back down very quickly. It gave a window for sharks and whales…and they made massive amount of money. Obviously it was done on purpose. And obviously the IMF doesn’t allow that to happen again.
Iraqi-Saudi coordination council has played a major role with their bilateral relations. Iraq is doing a good job. If you’ve noticed in the news, Iraq is a mediator. It’s almost like the Switzerland of the Middle East. Kudos to Al-Sudani…
When people say there’s not too much progress going on – well some of these things take a long time to put together and most of them are coming into fruition as we speak.
IQD investors outside of Iraq may have difficulty exchanging the currency. Why? Because we will not have access to IQD banking. 2. The IQD may not be available on the Forex market thus not exchangeable by US banks…In other words it is not beyond the US Federal Bank to help Iraq come up with a plan that could exclude individuals with Iraqi dinar but include different countries around the world…If we do not address this issue there is a real possibility we may have difficulty exchanging the IQD for the USD.
Look at the opportunity for Iraq. They’re saying, ‘Hey, we need to sell energy in these other currencies.’ The United States is like ‘No problem. We don’t care. We’re expanding our markets anyways.’ There might have been in the past a situation where if Iraq sold energy in other currencies that we lost market share. But that’s not the case coming down the road…Iraq…figured out a plan to go forward to be able to sell to as many customers as possible. That’s how they want to add value to the currency is taking that route. It’s good for the United States. It’s good for Iraq…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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