Dinarland Highlights – 1.29.24
MarkZ
[via PDK]
“Urgent- The foreign ministry announces the success of the Iraqi-American negotiations on the presence of coalition forces in the country”
This has really been some kind of week over there. Years ago Trump told us the troops would leave when Iraq gets revalued and we get paid.
“US dollar exchange rate drops in Baghdad and Erbil”
Iraq is going to be forced to pull that trigger sooner rather than later. This is a good sign for us and is going to force them to push forward with a value change. They want to be pegged to a basket to realize their full value.
Question: Are rates showing up on US bank screens?
MarkZ: …I have not personally seen them show up on the tellers screens yet …But there are reports of tellers showing people the rates.
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Mountain Goat
…the hot topic in the CBI, as my contact told me…is that the CBI is working towards getting the parallel black market rate in check with the “official” CBI rate of the dinar. I asked my contact why the past plan to end this crisis has not yet ended it? I was told it is taking more than expected for the measures underway to take hold, but that they will eventually end the crisis and the rate will come down…
I then asked about the “basket of currencies” we been hearing about to re-peg the dinar. I was told this is coming but they can’t peg the current in-country rate until they resolve the parallel market crisis and move to FOREX. This is exactly what I wanted and needed to hear. This falls directly in-line with the 2011 Dr. Shabibi plan I have talked so much about already. So all is very good in my eyes as far as this process goes.
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Pimpy
Iraq has a few more things they really have to fix. Taxation [and] their tax system in general. In addition to that they have to learn how to balance a budget…Balancing their budget, fixing their tax system would go a long ways in Iraq…
People are getting confused…When they delete the zeros, they’ll change the currency. It’s not the exchange rate. That’s where the confusion is…If I have a 25000 dinar and I delete the zeros, now I have a new currency that comes out…They have the same value. The nominal value is a number…25000…the new one says 25, but the exchange rate between these two currencies stays the same – 1 to 1. What they’re saying is the 25000 dinar has an equal value of the 25 dinar. That goes on for a little time until people trade in all the notes. They’re not talking about against other currencies.
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MilitiaMan
An investment budget it’s not going to work at 1310. They don’t have enough dinar to do that…The project is to delete the zeros off the exchange rate. Once they have done that, they’ve applied the Real Effective Exchange Rate they’re going to have to do things differently. The world knows that. WTO…Bank of International Settlements … IMF…US Treasury…US Fed – everybody seems to be the ones that are knowing it but they just haven’t quite done it yet or are they working to finish a process that is highly complex? That’s my opinion…
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Frank26 (KTFA)
Question:
“Do you think they’ll come out with a sucker rate?”
I don’t care if it’s suckered or not! Give me a rate! Give it to me! Make it international! Let it go and they’ll float it up. Give me $0.10 I don’t care.
They are removing the dollar. It’s only used in 3 different ways. The government of Iraq will use the dollar as they see fit. The Iraq citizens if they want to buy medicine can go to a bank and receive American dollars for their dinars…The last way the Iraqi dinar will be used is Iraqi citizens can go to a bank…and take dollars out if they prove they are traveling abroad and need the dollar…The dollar is being ignored/pushed aside…All the things the Iraqi dinar has been punished for 20 years, now the dollar will have the same symptoms…Whereas the dinar will gain security and stability because everybody will be using it.
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Samson (KTFA)
Article:
“With a growth rate of 150%… taxes announce an increase in their revenues to more than 4 trillion”
Quote:
“Baghdad The General Tax Authority announced, on Thursday, that its revenues had risen to 4 trillion and 500 million dinars within 8 months…”
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Walkingstick (KTFA)
The electronic platform that Aki’s bank is doing are being done in all the banks around the world linking up to the CBI. The citizens from here to there, Visa/Mastercard, all these accounts, this is a big deal…This is the door that is opening up for the Iraq dinar to float.
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Nader From The Mid East
Algeria is big and has a lot of assets but they have a lot less than Iraq and their dinar is stronger than Iraqi dinars. If you look a the Tunisian dinars, Tunisia has nothing…and their dinars are 3 to 1 – Three dinars to $1. My point is these people has nothing. They’re coming out a revolution. They is a mess. It’s completely a mess. They lost a lot. The private sector is a mess and it’s [their dinar] is still strong. Iraq, this rate is still a punishment rate…They have to revalue. If they revalue they’re going to revalue 1 to 1.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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