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Dinarland Highlights – 1.16.24
MarkZ
[via PDK]
Iraq needs the official rate to be close to the trading rate. They can fix this. Saleh and others are suggesting they let the economy figure the rate out and no longer have an official fixed rate. If the market decides that would remove the black market completely…This is similar to conversations Kuwait was having just before they RV’d and had a release in value. These are steps we have seen before in past currency revaluations. They have been doing this for quite some time…they are just now starting to tell us about it.
There is a lot of news out of Iraq. According to the Iraqi press they are working h*****n a change of value and deleting of the zeros. Deleting the zeros does not mean just take the zeros off…it means the dinar gains so much strength that you cannot use the bills with the 3 zeros on it… This is good news for us.
Article: “Liberation of the dinar from the official rate: Obstacles and Solutions” They are again talking about the need to increase the value and adjust all the mechanisms to do so. They talk about k*****g the black market because the markets will determine the new rate.
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Mountain Goat
NO, the RV did not yet happen! But we all should know the process is in motion. How can anyone deny it when we look at all the progress made in 2023 on currency reform. The dinar and dollar crisis filled the headlines every day.
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Walkingstick (KTFA)
Movements before they release the lower denoms and new exchange rate we expected to see this… December was to have everything ready in place to go. January all these systems are being implemented through the monetary reform education. From private banks like the one Aki [Iraqi bank friend] represents to international markets as of today January 15, 2024 they’re all international now. It’s what we expected…there’s not more to say…because everything now is in print…
They are now in Davos… Iraq’s monetary reform is a hot topic because Iraq’s monetary reform is restoring confidence in the Middle East…These conferences are only by invitation only. To see Iraq there and to be the star at the Davos meeting tells us Iraq is no longer with a program rate. It is an impossibility...
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MilitiaMan
Article:
“Iraq returns to the World Trade Organization 14 years after its expulsion”
They didn’t finish fifteen years of work in one year to not have accession. The development road and sustainable development projects are only just beginning. Iraq as we have been noting here has been setting the stage for entering the international financial system. We are a part of and watching history in the making!! This is truly an amazing article…
It’s a numbers game and – the project to delete the three zeros, off of what? Monetary transactions or we can say off the exchange rate…That’s a key important thing. Do the math on it…
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Frank26 (KTFA)
Article:
“Instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms”
FINALLY… WHAT WE CALLED THE 2ND ARTICLE FOR THE CBI TO THE IRAQI CITIZENS!
Notice articles this week are focusing on the monetary reform education, which is about the currency, lower denoms, new exchange rate, accounting, banking reform, everything. It’s all being unloaded onto the citizens of Iraq…Let’s be fair, they’re just getting started. Let’s see what happens this quarter…
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Pimpy
If I’m being honest I’m expecting a small increase in the exchange rate in this budget. I told you in the first quarter of this year I was expecting it. But the last thing you need is all these headaches with bombings in Iraq and all the c**p that’s going on all the way around them…
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Sandy Ingram
There are 4 major reasons Kuwait, Iraq’s next-door neighbor has the strongest currency in the world…Kuwait dinar is $3.36…
1. Major exporter of oil. Kuwait is estimated to hold 10% of the world’s oil reserves. The tiny country has a population of 4.3 million people vs Iraq who has approximately 43 million people and a lot more oil than Kuwait.
2. Kuwait has an excellent reinvestment of oil revenue. Kuwait uses its oil revenue to build infrastructure and develop microeconomic sectors to increase its GDP.
3. Kuwait is tax free. Being a tax-free country enables the GDP to be higher and it just makes everyone happier not to have to pay taxes. Since May of 2007 the Kuwaiti dinar (KWD) is pegged to an undisclosed basket of currencies…
4. This is good news for some of you and not good news for others…Kuwaiti currency is scarce. It is very difficult to get your hands on a Kuwaiti dinar unless you are inside of the country…Being scarce when it comes to currency is a good thing.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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