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Dinarland Highlights – 4.7.24
Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Have not seen any of it on the news today about the lower notes that are going to be distributed in May…However there are a lot of rumors saying it was something out here today. We have not seen yet but we are looking…
FRANK: There are many rumors about the monetary reform right now. Yes there seems to be a rumor about the lower notes…let’s see what happens this coming week. Let’s see how things start to unfold.
When you hold up the new lower notes you will not be able to see all the safety features, not even with a black light. This currency is so far advanced you cannot counterfeit it because you don’t even know what’s in it.
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Pimpy
On the one hand this [Closing Iraq’s DFI in the United States] is a big step for Iraq. They now have control over their own funds and they can make their own decisions without asking for permission. On the downside we still have Maliki and the Coordinating Framework in charge of the government…This is a good thing though. It’s a big step for Iraq. It’s a big step in gaining their freedom 100%. Internationally it looks really good for Iraq as well…Untied States is saying, ‘Look we trust Iraq can deal with whatever comes at them…’
Question:
“How are changes to the Iraqi dinar going to affect the Iraq stock market?”
3 or 4 years ago there was a group of us invited to join a couple different people who were investing in the Iraqi Stock Exchange…When I first heard about this we were told that if we buy the stock now and when they reinstate the rate the value of the stock would really shoot up and we would have tons and tons of money…Iraqi Stock Exchange …the cost of the stock is in USD not the Iraqi dinar. That’s important…If the Iraqi dinar is re-denominated, that’s when they LOP off the zeros…it would not necessarily require any adjustments to the Iraq stock.
Re-denomination of a currency involves changing the face value of the currency by dropping zeros from the existing notes and issuing new currency at a lower nominal value… Therefore a re-denomination of the Iraqi dinar would not inherently necessitate adjustments to Iraq stocks…If Iraq increases the exchange rate of the Iraqi dinar…this is different. A re-denomination will have a slight effect, if at all, verses changing the exchange rate…increases the purchasing power for Iraqis… The stock is already priced in American dollars so no the increase in the exchange rate of the Iraqi dinar is not going to make everybody millionaires on the stock market…
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MilitiaMan
Article:
“The start of drawing liquidity from the hands or Iraqi’s”
Iraq is getting money outside of the bank, into the bank…They’ve gotten off the street upwards of 8 trillion dinar. That’s a lot of dinar…Reducing the note count is the direction which is where they’re headed…If you reduce the note count, purchasing power comes with it…
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Samson (KTFA)
Article:
”WTO – ACCESSIONS – MAY 9th, 2024 – Includes Iraq”
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Sandy Ingram
The real effective exchange rate (REER) is a measure of the relative strength of a country’s currency in relation to an index or basket of other major currencies. The REER is used to judge whether the country’s currency is undervalued or overvalued or, ideally, fairly valued… Nominal Effective Exchange Rate (NEER)…It is an index of the weighted average of bilateral exchange rates of home currency with respect to a basket of currencies of trading partners. An increase in NEER indicates an appreciation of the local currency against the weighted basket of currencies of its trading partners.
Iraq’s top five export trading partners are India, with $38.8 billion, China with $34 billion, the United States with $10.3 billion, South Korea with 8.21 billion, and Greece with $6.27 billion. Based on Iraq’s export partners the Iraqi dinar definitely could be worth more. However everything is speculative until the US and Iraq give the green light to float, revalue, reinstate or increase the value of the Iraqi dinar…This could happen overnight but it is unlikely.
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Walkingstick (KTFA)
It’s not 92% [of the 3 zero notes] they’ve collected. It’s a lot more… It’s at your doorstep.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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