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Dinarland Highlights – 2.14.24
MarkZ
[via PDK]
Once again I am going to report we are being leaned on to not talk about redemption stuff…Especially from banks who we expect to handle transactions and redemptions…They said they really need everyone to stay quiet right now. There is a whole lot I would like to say but right now it would be ill-advised. Just know that I am very happy and content about timing…and yes I think it is soon.
Out of Iraq:
“Finance Committee sets date for 2024 budget tables to reach Parliament”
This includes the HCL and funding for regional governments. This is moving forward within 10 days and could be a key piece we are looking for.
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Mountain Goat
I can tell you there is only going to be one more final adjustment to the IQD rate inside the country of Iraq from the 1320 close to 1000 or less (1 dinar = 1 USD) (must be just over $1). At this time, the CBI will kick off the Project to Delete the Zeros. Did this happen yet? NO! It has not but we can see that the official rate is fluctuating from the 1320 as high as 1310 and 1300 some days. This is all good news… this rate will be temporary rate just until the new reinstated rate shows up on FOREX.
We are now looking for this rate change as the CBIs’ next move. Yes, this will be their next move. NO! There is not going to be any Reinstatement until this part of the plan is completed …The good news is that this final rate change must be getting close at hand as my CBI contact informed us last week…that someone on the committee team was tasked to supply the IT people with a good set of pictures of the lower denominations along with the coins and a written explanation of how the conversion would work from the three zero notes…keep that champagne ready!
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Frank26 (KTFA)
New notes, not the 3 zero notes, the new notes – 1, 5, 10, 20, 50 and 100, IMO soon the banks of Iraq will have what I call specimens sheets. The thing about these specimen or sample sheets, whatever you want to call them, are high quality samples. Once the banks explain it to their employees then it’s time to show the Iraqi citizens. Not the high quality samples that belong to the banks, but pictures of the…notes and coins. IMO Iraq Channel One will soon be showing the citizens of Iraq the new lower notes…
I don’t plan to go to a bank. Can you imagine? …I got 10 million dinars, here…Personally I don’t plan to go into a bank to exchange my currency. I will have a team…I’m going to have my lawyer get a hold of the bank and say, ‘I represent Mr. [Frank26] and Mrs. [Frank26] and they want to make an appointment for you to come to their house and collect a large amount of foreign currency…My lawyer will already know exactly what the bank is going to offer me…The less contact I have with the bank the better…If you have a small amount then you’re going probably go into the bank...
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MilitiaMan
When have we seen banks openly talking and expressing, ‘We know this is happening. We’re talking about it.’ Oh, yeah, things are going in our direction!
Iraq has done the things they needed to do to be Article VIII compliant. They’re going to stop the dollar auctions. They’re going to have freedom of capital movement…That’s going to create investor confidence. And that investor confidence is going to come from the investment law, freedom of capital movement.
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Pimpy
Don’t forget Iraq is on self-imposed sanctions. Until they are cleared and there’s no more restrictions over here [In the US] it’s not gong to be that easy for you to find a place to exchange your currency. I’m not saying it’s impossible…I reported Chase bank…was one of the banks you can go to…It’s not going to be some fancy rate. It’s going to be at whatever the current rate is at the time…
Question:
“Just be blunt…Make it simple. If someone holds a million dinars what is the most one can get from this amount over the next several years?”
I’ve been blunt about this…It depends on how long you hold it. Let’s say it starts to go up in increments like I think it’s going to happen, you have to look at your 1 million dinar and think to yourself, ‘Am I going to be happy with the current exchange rate.’ It really depends on when it gets to a rate that you like. As long as they can stay out of conflict, continue moving forward like they have with reform, getting back in the World Trade Organization, showing back up on Forex, these things are very important on give value to the Iraqi dinar.
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Clare (KTFA)
Article:
“Economist: The window for selling the currency ends in 2024, and the central bank will devote itself to supervision”
Quote:
“The Central Bank of Iraq decided to end the currency window process and adopt correspondent banks as an alternative. There will be a new mechanism to provide currency for transfers without returning to the currency window or the electronic platform.”
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Fnu Lnu
International attorneys told me…there would be ten off premises exchange locations allocated by regional population throughout the Nation. I am assuming they are using the 10 United Nations Regions, roughly the same as Federal Regions…I was told…there would be an exchange facility in the most heavily populated city in that region. For instance, Region ten encompasses Washington State and Seattle would be the location for that region…Also, by Off Premises, I mean locations that were NOT inside banks but usually nearby to a participating bank…These are what the unlearned are calling Redemption Centers.
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