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Dinarland Highlights – 2.2.24
Mountain Goat
Article:
“THE FINANCE COMMITTEE RESPONDS TO THE US SANCTIONS: LET US SELL OIL IN CURRENCIES OTHER THAN THE DOLLAR”
Quote:
“Imposing sanctions on Iraqi banks would undermine and obstruct the steps taken by the Central Bank to adjust the stability of the dollar exchange rate and reduce the selling gap between the official and parallel rates.”
…the TRUTH finally comes out. This is what is causing the inability of the CBI to take the necessary steps to adjust the stability of the dollar exchange rate? …if they the CBI did this diversification it would adjust the parallel market rate very quickly and then…..
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: In summary [Firefly’s] bank friend is telling him the parallel market is very soon to be nonexistent. FRANK: If the parallel market is gone then that means we don’t have a program rate.
Question:
“What does canceling the auctions mean?“
Iran used to use the CBI auctions to steal dinars. How? When oil is sold by Iraq…they have to receive payment in dollars. Iran would steal it in the auctions…The IMF, US Treasury, World Bank told them this is what you got to do before you release everything… The auctions that were used by t*******t to steal the life of Iraqi citizens has been changed…. metamorphosized. It is now under better control…If they try to steal something, the CBI knows right away and they get busted…that was called cleaning the floor of the CBI.
Have I not been telling you for a long time now the next phase for you as an investor in the Iraqi dinar is going to be the most difficult phase. Many of you unfortunately only want to buy the dinar to get rich. It’s like buying a gun – If you don’t know how to use it you can hurt yourself or someone else. You bought the Iraq dinar…I have been begging you to put a team together.
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Pimpy
Auctions…are not about dumping the dollar. Currency auctions are held for a reason…They take the US dollar and sell them to banks and exchange for foreign currency. That’s how they’re able to build up their foreign currency reserves to…$115 billion. Not only that but it helps stabilize the Iraqi dinar exchange rate against other foreign currencies…This isn’t about proof they’re dumping the dollar…This is not about de-dollarization.
Even with Kuwait 90% of their budget is on the sale of oil. Where Iraq gets hurt and Kuwait doesn’t, if the oil prices dropped. That’s what happened at the end of 2019 and 2020. Their [Iraq’s] …economy was going to crash. They had to devalue the currency and it saved them. With Kuwait, that’s not going to happen. Their Wealth Fund is something they can fall back on…Iraq cannot do that…Iraq is going to get there no doubt about it…We want it to go up in increments and keep the same currency we have…
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MarkZ
[via PDK]
…rumors…from every corner of the “blogisphere” …they are saying the CBI has released rates to the government of Iraq and Iraq has released those to all the central banks in the world including the US…and that everything is locked and loaded. That is the chatter.
There is no negative news and groups still have high expectations. A lot of NDA’s but no word on timing as of yet.
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Samson (KTFA)
Article:
“US Secretary of Defense: We will not tolerate the killers of our soldiers, and the Middle East is going through a “dangerous moment”.
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Walkingstick (KTFA)
The Central Bank of Iraq is done with the constant meetings to get the monetary reform education out because the campaign was started and its doing very well.
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Bruce (The Big Call)
[via WiserNow]
...we’ve heard from a couple of…sources that we should be there…with notifications by [Friday]…and maybe we do get started [Friday] or Saturday but we should go right through the weekend…I think that’s great news for us…Even though we didn’t get started [Thursday] like we had thought, like we had hoped…I was honestly surprised we were not going to get started [Wednesday]…So things are moving forward…I think it’s coming…I think it’s got to, you just have to say super patient like we’ve been…
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Sandy Ingram
Kuwait, is a country that successfully revalued its currency in the early 90s. Following the Gulf War Kuwait’s economy was in ruins, yet within a short span the Kuwaiti dinar was reinstated as one of the most valuable currencies in the world…Unlike Iraq, Kuwait had a relatively stable political environment and a resilient economy backed by vast oil reserves. The international community had faith in Kuwait’s ability to rebuild and stabilize which facilitated the revaluation process…A stable political environment, a strong economy, a positive balance of trade and the trust of the international markets are all critical ingredients for successful revaluation. It’s not a magic wand…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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