Dinarland Highlights – 10.25.23
There is a lot of repetition in the news… We have shared many articles over the last few days/weeks on improvements in the banking system in Iraq…. Articles about how they have secured their borders…how they are attracting more money into the banks…(85% of the dinar is outside the banking system in Iraq) and they are trying to make their banking system more attractive. I do not think this will be successful until there is a value change in the dinar. Why put it in the banks when it’s not worth much?
Yesterday was the start of the end of the two weeks Sudani requested of the Iraqi citizens…He said I’m going lay everything out on the table. I won’t hold anything back. I will answer all your questions. We only have one question dude – Where’s the exchange rate? ...Next thing you know Sudani sends one of his officials, one that is known and trusted, to Channel One News and he talked to the Iraqi citizens.
[Iraq boots-on-the-ground report]
FIREFLY: Sudani sent a government spokesman…we know and trust him…He comes on Iraqi Channel One and says Sudani wants you to know the dinar will be stronger than the dollar…He’s saying it’s currently not.
FRANK: No kidding!
FIREFLY: They are showing clips of past video speeches of Sudani when he says the dinar will be a pillar of the Middle East and…is going to help and fix the global financial world. This is very good for the monetary reform… Oh, yes, this is exactly what we are looking for.
FRANK: Sudani sent his people…to tell you Iraqi citizens your currency, NOT your 3-zero notes, but your new national currency is going to be stronger than the USD. Hell yes! That’s the whole purpose…This is fantastic because they are opening up…These guys are busting open the doors and talking to you…
Iraq is not going to come out at a 1,000 to 1 rate…They are going to come straight out of the gates…to reinstate their currency IMO above a 1 to 1 rate. Because right now Iraq has an inflation rate at 20% and if they come out at 1,000 to 1 to start the float in removing the 3-zeros they would be at a 40% inflation rate in their country…It makes no sense to come out at 1 to 1. It would not accomplish what they are trying to do…When they should have released it at 1,000 to 1 that would have worked instantly…at that time. But they didn’t. They stalled...Now there is just one rate…These are exciting time.
…I know for a FACT that the rate of 1/6 of a penny is a “suppressed” rate and being “artificially manipulated”. Just with all the assets Iraq now has without any banking reforms or any other economic development, the rate should be at least what it was prior to the 1991 invasion and the 10 year boycott plus even more…
“…the government’s plan included establishing 1,600 project…The budget for ongoing project will reach the government in the coming days…”
That’s the 2023, 24, 25 budget we’ve been talking about…they haven’t funded anything and they haven’t shown any money to be spent…but here he’s saying, “The budget for ongoing projects will reach the governance in the coming days…” They’ve been paying for all this stuff in dollars. The dollar is going to end…by January.
This gentleman is fascinating. He’s giving Al-Sudani some kudos but he’s also poking him in the eye a little bit because if you remember Al-Sudani said and confirmed to his people more than once that the dinar is stronger than the dollar and this guy gives a reality check, well it’s not today.
“The Sudanese confirm that the dinar is stronger than the dollar but the reality is currently the opposite.”
He’s not wrong at this moment in time but the plan is to be [stronger]…
Iraq continues to move forward to do what they can for the Iraqi people, improving more on the banking sector, trying to find ways to make their economy stronger but these conflicts are causing huge delays and huge issues in Iraq and we don’t need that at this time.
I think over the next few years you’ll start to see the Iraqi dinar slowly increase in value little by little. It’s hard to talk about where the dinar is going to be just because the United States isn’t going to let those resources go and Iraq can’t stop getting in trouble – at least that’s what we’re told…
There is a global shortage of wheat due to Russia’s invasion of Ukraine…Next year flour prices in the United States will skyrocket due to drought... Dunums is the unit of measurement of land in the Middle East. One acre equals approximately 4 dunums. Iraq will plant 1.5 million dunums in irrigated areas of the desert and 4 million dunums in desert areas using underground water. This planning event will take place during the winter months (October and November) and will secure Iraq’s food security for the coming year…
[Aki Iraqi bank friend update]
Iraqi Bank friend #1 [Aki’s boss] told Aki you gotta stay put. Stay right where you are at [his bank in the south of a northern state]. As much as Aki wants to go stay in the north because in the north he has a home there… Obviously something’s happening IMO.
[On his approach to the Iraqi dinar]
I am the ultimate puritan. I only believe in what I can prove. I don’t have faith about nothing. I have faith about my abilities but if someone comes up to me and goes, ‘Good, ole fashioned faith?’ Nope…
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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