Dinarland Highlights – 1.15.24
Mountain Goat
I asked [my CBI contact] what rate the CBI wants to bring the parallel rate of the dollar down to? I was told at least around the “official” CBI rate. They are driving to have them match very closely. In consultation with the IMF this is what they are now mandating and is in the plan. When this is reached and stable, the committee will be notified to begin the process of deleting the zeros and move ahead with it.
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MilitiaMan
There’s some very significant, big, big players exposed to this. We all know JP Morgan, CitiBank and others are 100% involved…See the picture of the Vice President of JP Morgan Chase doing deals with Iraq…You walk into the bank at Chase and your average guy doesn’t know what we know because what we know is we study and we have the data to support and the articles that are public that present that information.
Article quote:
“The new role of government banking in financing foreign trade for the private sector is in accordance with approval of the International standards…”
Iraq is telling you that they have the private sector in mind. They’re doing it in what? In accordance with the approved international standards. Did they have that before? Obviously not. Why would they be talking about it if they did…
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Frank26 (KTFA)
I don’t think they’re waiting for much of anything right now. They’re moving fast. They’re moving quickly in every aspect of the monetary reform. The next step is to show the lower denoms…new exchange rate and to allow it to float on an international platform…These are not subjects we are proposing to you, these are subjects that are in the articles themselves…
Question:
“Is [Firefly boots on the ground in Iraq] optimistic or frustrated?”
Both. He’s optimistic because he knows what Sudani and the CBI have been telling the citizens of Iraq…Because he can go into a bank in Iraq now and ask questions and they will answer them point blank. But he’s also frustrated because how much longer? We’re talking about going into…January already. This thing should have happened at the beginning of the year. What’s the hold up? Why are we waiting?
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Tishwash (TNT)
Article:
“Iraq returns to the World Trade Organization 14 years after its expulsion“
Quotes:
“Iraq is taking steps to return as a strong economic player by opening relations with Arab countries and all countries of the world…”;
“…we accomplished in one year the equivalent of more than 15 years’ work…”
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Pimpy
Why is it that the Iraqi dinar is unstable? That is because they rely too much on oil sales. 95% of their budget relies on oil sales. There’s too many people out there going, they got so much oil there’s no reason why their currency isn’t valuable. No, you don’t understand. That’s the problem. Article quote “The CBI devalued the notation currency in December 2020 amid a sever drop in global crude prices which threatened economic collapse given Iraq’s heavy dependence on oil exports…” If it wasn’t for the fact that they devalued the Iraqi dinar they would have collapsed…
No, it’s not going to be reinstated at $3.22 rate. This is something that’s going to be done in increments. There’s either going to be an adjustment up or down. We don’t know yet so don’t get overly excited…
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MarkZ
[via PDK]
There is a lot of expectations in the banking world because it’s a 3 day weekend…there is a lot of “pie in the sky” stuff being talked about …but is it verifiable? … What is verifiable is they (Iraq) are in a mad dash to get dinar out of circulation to reduce the money supply and support a higher value. We can also verify they are taking strategic, solid steps to increase the value of the dinar opposed to the US dollar.
Comment: Another intel provider said the redemption center staff are on 45 min. notice to show up for work.
MarkZ: I am definitely hearing they are on call for an hour or less to get to work according to 3 different contacts I have.
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Clare (KTFA)
Article:
“Al-Sudani leaves Baghdad for Switzerland to attend the Davos Forum”
Quote:
“On Monday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani left the capital, Baghdad, for Switzerland to participate in the 54th session of the Davos Economic Forum.”
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Kaperoni
there is no way Iraq can RV the Iraqi dinar with [120] trillion dinar in circulation. No country could afford. Iraq’s total net worth is only around $16 trillon dollars.
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Nader From The Mid East
A lot of people talking about the circulation of the dinar. Some peoples 120 trillion, the other one 170 trillion…The circulation of the dinar has been decreasing since last April…you see it going down, down, down by billions…Anyone worried about the circulation of dinar and it’s too many dinar out there and all that the dinar is disappearing slowly…the dinar has been going down by billions, 156 billion, 160 billion…each month last year…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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