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Dinarland Highlights – 2.4.24
Frank26 (KTFA)
Let’s say you have 10-20 million dinars and you take it to a bank and you exchange it. No bank in the United States of America is going to hold your millions in their bank. Not physically and probably not electronically…You cannot park that much money in an American Bank. You may have to exchange your money in stages. You have to find protection for you money. The bank is not going to let you put more than they can cover in their bank…Some banks may change that and say we can cover that. Ask the bank… [Look into] Treasury Bonds, annuities…trust funds, property…precious metals…I’m going to diversity in these and many others.
How many times have we heard words electronic payment platform? …We keep hearing it constantly because that’s the phase that the monetary reform is at right now. It is preparing the vehicle where the dinar will get into it and drive out of the country domestically into an international market that will increase the value of the Iraqi dinar based on supply and demand…
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Pimpy
We know Iraq is doing everything possible to get back on track and in the good graces of the international community. The problem is they got Iran as one of their neighbors…that keeps bringing all kinds of conflict into their country…Turkey…the Untied States as well as Iran have done bombings inside Iraq. All this is against their sovereignty. These are acts of war. There’s not a whole lot Iraq can do about it…The last thing you want to see is Iraq all of a sudden become unstable.
What they’re trying to do is a study of the deletion of the zeros. They’re trying to figure out how this is going to affect Iraq, to make sure they are in a position to go ahead and remove the zeros off the Iraqi dinar – currency, not the exchange rate. Because once they make that decision…the citizens are going to be a little confused, there’s going to be a slight interruption to the economy and to businesses who have to change all their bookkeeping as well as prices throughout Iraq...You need to educate the Iraqi people about what’s going on…
Where do you exchange your currency? It’s going to be at your local [bank] branch. There are no redemption centers. Some places won’t charge you fees depending on how much. Some of them have a flat rate.
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MilitiaMan
Article:
“Postponing Electronic Application for Housing Funds”
They told us they were going to build hundreds of thousands of homes. They were going to have loans ready for them but they decided to postpone it.
Quote:
“…until new mechanisms for getting loans is approved…”
What’s that about? You were going to open up for loans for hundreds of thousands of housing units but you posted it for a ‘mechanism’. What’s their definition of mechanism? They don’t say but we have to think – Writing up a mortgage at 1310 exchange rate and that changing the next day creates a problem…They need to know how much.
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Walkingstick (KTFA)
[Iraqi Bank Friend Aki update]
Aki’s orders for the month of January 1st to 31st were to establish all the electronic stuff for the monetary reform, to send the IQD internationally either via 1. a basket in a float 2. Stock Exchange. 3. Global supply and demand. Aki’s role is strictly in three phases as well and he is ready. 1. Collect the IQDs for destruction by the CBI. 2. Exchange 3-zero notes into American currency. 3. He will not issue lower denoms. It is mathematically impossible…
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MarkZ
[via PDK]
…coming out of Iraq:
“Contract signed for new residential city near Baghdad”
Will include more than 100,000 units. They are busy working on housing for their people. This is a large scale project worth big bucks…. How are they going to pay for it???
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Clare (KTFA)
Article:
“A government advisor details indicators of the efficiency of foreign reserves: Iraq is in the best financial condition”
Quote:
“…The financial advisor to the Prime Minister, Mazhar Muhammad Salih, detailed indicators of the efficiency of foreign reserves, while confirming that they indicate that Iraq today is better off in its financial history“
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Sandy Ingram
These are some of the major factors holding up the Iraqi dinar revalue…There’s a lot at stake…First…Iraq relies on its oil export for revenue…If oil prices were to decrease suddenly, it could cause a drain on Iraq’s foreign exchange reserves as they try to stabilize their currency’s value…Second…Iraq’s political stability and security issues… Uncertainties make it challenging for investors to trust…making them hesitant to buy the dinar…Thirdly…A sudden and significant increase in their currency’s value could adversely affect their exports and trade balances. It could also lead to inflation… Balancing the exports and trade revenue is one of the key factors in deciding and implementing a currency revaluation.
Furthermore…Neighboring countries may retaliate by imposing tariffs or restrictions in response to Iraq’s higher value in currency…A sudden revaluation potentially could destabilize other currencies…Iraq could have a domino effect on the economies and currency values of countries like the U.S., China and Russia because these countries hold significant amounts of dinar in their reserves…The central bank of Iraq is under tremendous pressure to fit in when it comes to the revaluation of its currency.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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