Dinarland Highlights – 3.19.24
MarkZ
[via PDK]
I have a number of banking contacts that have launched into overdrive for this week …Lots of people expected announcements overnight last night...the electronic platforms being wildly successful is key to them implementing their change in value. And the Real Effective Exchange Rate (REER) is expected this week according to Iraqi contacts. Most of my Iraqi contacts expect it by April 1st. Praying they are right.
…I’ve been told absolutely clear that it does not matter circulated or uncirculated to participate and that makes sense…
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Wolverine
[via Judy Byington]
Most recent banker update…Mon. 18 March…Word from those higher ups was that we were in a 24 to 36 hour… window for announcement with Thurs. 21 March…being an important day for the banks…we know the time of our blessing is approaching quickly…All is looking good according to ALL sources…
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: The funding for all of 2024, last Wednesday was suspended…and it was changed…They must be using the new exchange rate. They said they changed it and then sent it to the Council of Ministers for the review. Then it is to be sent to the House for a vote…It should be going for a vote any time. We think it’s going to move to 1.32 making it $0.76 which is not more than the dollar like Sudani promised, until they add the new exchange rate to it. That’s what we’re expecting.
FIREFLY: Bank friend says…Al-Sudani is making an announcement during Ramadan remember? He’ll go to Washington DC but after he comes back I believe that this rate [1.32 dinar to $1.00} with the deletion of the zeros will coincide with the WTO. We are basically in a countdown.
FRANK: …The final countdown. Let’s roll! I think when they finish with Washington DC and they come back, we may see what we’re looking for.
Continued: I am crazy excited your prime minister Al-Sudani and the governor of the CBI Alaq and the board of directors are constantly telling you they’re going to give you 1.32 dinars to $1 and a new exchange rate to match it with lower notes…It looks like the next two weeks will be very loud on the monetary reform education. Be ready to move quick.
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MilitiaMan
Al-Sudani…talked about having the dinar be 1.32 dinars to the dollar…turns out to be around $0.76. That’s a big bit of purchasing power for the citizens. Is it what they’re going to end up with in the future based off all the natural resources that they…all the non-oil maximized income…tourism, all the extra stuff you never had when S----m Hussein was in office? S----m Hussein’s $3.22 to 1 dinar was based off about $35 a barrel of oil. Oil is pushing $85 today…They have surplus money coming from all these different places…
If Al-Sudani says, the dinar hold on to it, it’s going too be stronger than the dollar…$0.76 is not stronger than the dollar. Add the real effective exchange rate and you can easily get over a dollar…
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Jeff
One of the major things Iraq has to do before they can revalue the currency is they have to pause all of their money. They have to suspend it. Freeze it. As of Friday both the central bank and the government of Iraq paused and froze all their monies. What does that mean to us?…By them suspending all of their monies between the central bank and the government that makes this [past] weekend…the first eligible weekend for Iraq to be able to revalue the currency…
Iraq technically does not need to amend the budget if they’re not changing their rate. The budget already covers their operating expenses. But they would need surplus funds to cover the reforms. The reforms are contingent upon the rate changing. They can’t bring these reform package forward if the rate does not change. The only reason they’re amending the budget is because the rate is changing…The step of amending the budget can happen either before or after the rate changes … They will probably announce Thursday or Friday as to when they plan to amend the budget, which they’ll probably do around this weekend…
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Walkingstick (KTFA)
Sudani is starting the monetary reform education by using the official rate, which is 1320. He’s using 1320 in explaining the possible rate…1.32 to 1 American dollar. IMO the reinstatement could take that International rate further…
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Clare (KTFA)
Article:
“Iron and Steel Company: Iraq is on the verge of a major industrial revolution”
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Pimpy
Deleting of the zeros means a re-denomination.
Article quote:
“The Iraqi government is currently weighing the question of changing the currency…”CHANGING THE CURRENCY. It didn’t say exchange rate. What is says is currency… Definition “Re-denomination is a government policy in simplifying currency values without changing the exchange rate.”
…If we can get them to change the exchange rate without removing the zeros then we’re sitting pretty…
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Yada (TNT)
Be of good cheer folks, this is unfolding before our eyes…what we are are expecting is taking place…The articles last week regarding the 1.32 in Iraq was telling the people what to expect. The salaries, contracts, infrastructure are at a point the REER [Real Effective Exchange Rate] will activate it all…Today-tonight is very good for us.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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