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Dinarland Highlights – 1.23.24
MarkZ
[via PDK]
Question: Can you clarify who has the authority and final say on the RV of the Iraqi Dinar?
MarkZ: It is the US Treasury. But the UST is controlled by the western banking world elites…. That’s who has been stalling it. Iraq and BRICS has been doing everything to force them into a corner where they have no choice but to go. That is what we have been watching. It would have gone years ago if it wasn’t for the western banking world. Here in the US – the western banking elites representatives is the US Treasury… IMO they are doing everything right to force the US treasuries hand. Iraq told us in Dec. they would totally de-dollarize after Jan 1….
Comment: I believe the Iraqi dinar has to come back where it went out at. $3.22. And the VND has to come back to $2.27. According to the IMF?
MarkZ: If you correct the VND back to its old value it would be about $2.21 to $2.30…depending how they adjust for inflation…but, yeah. This is why I believe certain values will make more sense. These follow historic norms for revaluations.
There is an enormous piece of news…Somewhere in the last 48 hours appearing on the website of the Bank of International Settlements (BIS). “Central Bank and Monetary Authority Websites” …In Iraq they have made it to the BIS website now as a “Central Bank” I believe this is an enormous sign that we are about to see a “boom“ in the World Trade Organization. To me this is a big one.
Question: Is tomorrow the big day?
MarkZ: We will see soon.
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Frank26 (KTFA)
It’s complex, the monetary reform. There are many facets to it. There’ are many things happening. There are many levers and buttons being pushed and moved. The beauty of it is these things are actually occurring…I don’t know when they’re going to release the new exchange rate…All I know is that they are…
[Iraq boots-on-the-ground report]
FIREFLY: TV showing the meeting in Davos with CBI governor, IMF, World Bank and Sudani have shortened the time on financial and banking reform. They’re saying it’s a shorter time expected now to complete the reforms.
FRANK: He is telling you they are very very close to giving you the new exchange rate with the lower denoms…What happened at Davos put the monetary reform on light speed.
Question:
“Does it RI once it goes international?”
That’s the reason why it would go international because it would be a rate change, it would be equivalent to a reinstatement to the value of the currency.
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MilitiaMan
Big push…They are finishing the reforms…But one of the things they need…is an international currency exchange rate. They haven’t started pumping oil to the Cyan Port yet, why? Because they haven’t had a customs valuation yet.Why haven’t they gone to the WTO just yet? Because the WTO is going to need what? Valuation. What did they say they were going to bring in the short term? The customs valuation with the WTO…They need big movements. They’re going to need a Real Effective Exchange Rate. 1310 is radically different than what I believe a Real Effective Exchange Rate is.
Everybody’s coming together. Everybody’s trying to get this country to go. The development Road Projects… cities, industrial cities, agriculture, tourism, all of those things are happening before our eyes and we’re watching and waiting to see when they give us that big announcement Saleh told us the country was about to do.
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Pimpy
When people say they have to be article VIII compliant, they have to delete the 3-zeros, they make it sound like it’s a mandate. They don’t have to delete the 3-zeros. It’s idealistic if they do but they don’t have to delete the 3-zeros…No where does it say it’s mandated.
What is going International? Because their currency is already International. Iraq is international. Did you forget they’re on sanctions? …They’re not on the Swift system…That’s a biggie. If they get their crap together and get back on the Swift system that would make a world of difference with the exchange rate because then they could start doing business again internationally.
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Clare (KTFA)
Article:
“Dollar prices decline in Baghdad and Erbil with the closure”
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Fnu Lnu
Article:
“The Central Bank of Iraq announced the approval from the US Federal Reserve to supply dollar cash in 2024, as part of efforts to stabilize the Iraqi economy and its currency.”
Quote:
“The decision came after officials from the Central Bank of Iraq held a meeting with representatives from the Fed and the US Treasury in Dubai.”
As of last Thursday, the official market recorded an exchange rate of 1,296 dinars per dollar. It appears the UST is helping Iraq to stabilize. The Dubai meetings concluded with praise for the bank’s strategies in reducing dollar transactions in the local market. Iraq could end the parallel market activity by simply revaluing the Dinar above one USD and the black market activity would come to a screeching halt. So why haven’t they? Are they stalling for some reason?
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Paulette (KTFA)
Community Comment:
“IMO- CBI official rate 1310. 1 USD ~ 1310 IQD = 0.000763. Drop the three zeros. 1 USD ~ IQD 0.763 = 1.310“
I don’t believe .76 USD for one IQD (1.31 IQD/1USD) would be adequate for the Iraqis to want to abandon the more valuable USD...The MOP/MOI study all the way back in 2009 stated 1.14 – 1.18 USD to 1 IQD to start for 3 years prior to reinstating the true value of 3.22 USD per 1 IQD.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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