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Dinarland Highlights – 3.8.24
MarkZ
[via PDK]
There is…a lot of chatter again about the lower denominations at many Iraqi banking locations. They are using cut sheets with samples of the LD’s etc…. I am trying to find someone over there to send a picture of these cut sheets to us…. (sample sheets with Lower denoms on it) I would love to see an official sheet from the CBI.
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Mountain Goat
…I have to come on an clarify the false rumors…about the IQD backside trading that is taking place. Read my lips- THERE IS NO BACKSIDE, BACKDOOR OR ??? trading being conducted on the IQD. If you want to buy it you can go to the Iraqi Stock Exchange (ISX) and the rate is the official rate minus the trading of demand curve for the day… So …Thursday the ISX dinar sales closed at 1309 (not $3.09) dinars per one US dollar compared to the CBI official rate of 1320. END of all the rumors…Done! …There is no back office, government or other side trading before it goes LIVE to the public.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Saleh is on television talking about Iraq’s financial situation. He said…we have enough reserves to back a stable exchange rate…
FRANK: That’s the reinstatement of your currency. That’s going to be the float eventually too.
FIREFLY: …He says we are capably of many other things besides oil, our country is powerful, growing and the world knows it.
FRANK: Have you noticed the only topic in Iraq is about the exchange rate of a new currency that is coming to you?
A lot of you are asking me, ‘Do you think they’ll do this new exchange rate during Ramadan?’ I would prefer before or after Ramadan, not during. Ramadan is a holy time. You don’t go around celebrating that you go purchasing power. No. You go around worshiping and honoring God.
[Indiana Chase Bank Story]
A nice guy sat down with us asked us questions about opening accounts…In the process of that being done…He asked me a simple question how much are you planning on putting in here? I told him it was going to be a sizable amount. He said, give me a figure. I said 7 figures at least… He looks at me and says, dinar? …I said absolutely. He said he had a meeting yesterday…It wasn’t long after that a nice looking young man…shook my hand and said Hi, my name is so and so and I’m with JP Morgan.
FRANK: Oh my word, you’re the 5th one that’s told me this. It seems like they’re bringing in JP Morgan representatives inside of Chase Banks. That what I’m noticing.
BANK STORY MAN: This guy from JP Morgan he says…we’ve been waiting for this a long time haven’t we…
FRANK: This is exciting what’s going on…
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MilitiaMan
Ministerial Council of Economics… Ministry of Planning, Industry, Trade, Central Bank of Iraq, Prime Minister, Deputy Prime Minister, advisers, all of those folks that are involved…have been knocking it out of the park themselves and showing why they are bringing Iraq to be the financial savior…The world expectations are Iraq is going to be a key component into the global financial system…When they say it’s imminent that’s a broadcast to the world…
Article:
“We will soon announce Iraq accession to the World Trade Organization”
They haven’t quite said it yet but they’re saying it. Isn’t that telling?
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Paulette (KTFA)
Question:
“When is Iraq supposed to be in the WTO?”
Not before they pass needed legislation, eliminate the MCP [Multiple Currency Practices] and are recognized as having accepted IMF Article 8 obligations. Accession Committee next meeting with Iraq is planned for the “middle of the year”.
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Bruce (The Big Call)
[via WiserNow]
One of our Iraqi sources called – and I got this information…that Iraq was said that they were going to try to get this out to us. – meaning get the RV out over the weekend…we fully expect this to manifest over the weekend…I think that is very possible and…we do know that rates are going up on the screens…we know that these currencies are being traded on forex, we know that everything’s pretty much running right along.
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Pimpy
If you want to see an increase in the value of the Iraq dinar then there are things that need to happen in Iraq in order for the dinar to increase in value. One of them is they have to have a stable and robust economy. Then there are things Iraq need to do that continues to support, stabilize and strengthen the Iraqi dinar. One of those big steps is joining the World Trade Organization…
People are pissed at me because I’m telling them of the possibility they should at least be aware of…What I’m talking to people about are the possibilities in the directions the IQD can go. I’m not saying it’s one way or the other. I’m just saying these are the possibilities…These are just possibilities, we don’t know. We can wake up tomorrow and the exchange rate is now $3.22…they have not…redenominated [LOP]. Then everybody is happy…
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Clare (KTFA)
Article:
“Iraq completes requirements to join WTO”
ALL REQUIREMENTS HAVE BEEN MET FOR THE WTO
ACCESSION… IT CAN HAPPEN ANY TIME, DON’T LET THEM FOOL YOU.
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Sandy Ingram
On Monday of this week the president of Iraq Adbul Latif Jamal Rashid, met with the special representative of the Secretary General of the United Nations in Iraq, Jeanine Hennis-Plasschaert. In that meeting the President of Iraq…stated Iraq is keen to work with international organizations to confront challenges in the field of environment, climate, health, and education in a way that ensures a decent living for Iraqis. It is our hope as investors that a ‘decent living’ means an increase in the value of the currency.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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