Dinarland Highlights – 1.25.24
MarkZ
[via PDK]
We keep getting positive news. Over the last 2 days in Iraq I’ve seen about 4 articles pushing to remove the US. And about them executing their white papers or economic reforms and restoring their exchange rate. To me “restoring” is to put it back the way it was. Right? And restoring it back to its former glory when it was one of the most valuable currencies in the world. So to me that would mean at least $3+…If you do the math $3.22 in 1991 and adding in inflation would be a rate of around $7.25 today. Wouldn’t that be something. WOW
Question: Do you think it is still possible that things go this month?
MarkZ: I think it’s possible. I am hopeful we will at least get announcements this month …even if we have not yet made it into the banks.
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Mountain Goat
Quote from Deputy Prime Minister and Foreign Minister Fuad Hussein:
“Iraq’s endeavor to occupy its natural position in the region and the international community”
…Part of what it means for us investors in the dinar is to realize that when they mention international community, they are talking global…liberating Iraq from the war years. It is a FACT they cannot operate effectively in the global arena without a tradable currency on the currency exchanges, such as FOREX. Iraq is also at the sheer brink of a final announcement into the World Trade Organization (WTO), which we know they want back their dinar in the process…I believe that when you put all the FACTS together you can clearly see where they are leading Iraq and it is down a very nice road of prosperity and abundance…
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Television is showing Parliament Finance committee saying we are close to closing the parallel market and solving the dollar exchange rate.
FRANK: How many ways can they tell them?
There are three things that the Davos meeting was demanding that they do. 1. Do you have liquidity to back up your currency? Yeah, they showed it. 2. Do you have supervision/overview of your monetary reform? That’s why the United States Treasury was explaining and then the IMF. Ok good. 3. Can you monitor your banks? …Yeah. That is good enough with us. You are Basel 3 compliant…This is huge.
Article:
“Parliamentary Finance: We are close to ending the phenomenon of “parallel markets” and prices are heading to decline”
You guys are running out of ways telling the citizens that they’re about to get their new exchange rate…Next week the CBI has a meeting on this very subject!
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Pimpy
Article:
“Urgent: Iraq receives an important message from America. And the Sudanese are studying it to respond”
Not only did they not tell us what was in the message but they’re letting us know that an important one came across…I’m sure it’s really serious…We need Iraq to stay stable and secure in order for their economy to grow, in order for outside investors to get involved, in order for them to strengthen their dinar, before we ever see an exchange take place…
You don’t have to change your exchange rate in order to be in the World Trade Organization. Vietnam is in the World Trade Organization and they have a crappy currency…It’s not mandatory for you to change your exchange rate. They can go in with a program rate.
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MilitiaMan
The oil for the [??] Port hasn’t left yet, salaries payment hasn’t been paid yet. One thing leads to another, that leads to what? A Real Effective Exchange Rate. I think that’s where we are are. I think that’s pretty self-evident…
They’re working currently underway to end the so-called parallel markets. Article quote “The dollar will not be exchanged except at the rate approved by the Central Bank of Iraq.’ The office exchange rate, give 10 to 20 points one side or the other of that 1310. Quote “The parallel markets will gradually decline and cease over the next few days.’ I’m fairly certain if they apply a Real Effective Exchange rate, gradually is going to be a thing of the past. But we’ll see how it works out.
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Samson (KTFA)
Article:
“Parliamentary Finance: We are close to ending the phenomenon of “parallel markets” and prices are heading to decline”
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Paulette (KTFA)
If they are truly heading to a simple 3 decimal space move on their exchange rate and…they are heading to 1.31USD to 1 IQD, they would have to make another move first to 763.4 from 1310…As of now, a simple decimal move of 3 places would mean 1310 IQD to 1 USD would become 1.310 IQD to 1 USD or 76 cents per IQD…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
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