Dinarland Highlights – 4.30.24
MilitiaMan
Quote on X [Formally Twitter] There’s some information out there today that says the Central Bank of Iraq’s governor has advised citizens to get ready for a currency exchange…Whether it’s true or not we’re going to find out…The reason why I bring it up is because that kind of to be expected, they’re having financial inclusion…they’re talking about that.
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Yada (TNT)
As far as Im concerned, they’ve done all they needed to do and like a funnel, need the rate release to get to the other side…Im of the mind the IMF has given the rate to the central banks and just a matter of coordination of releasing the rate world wide. That is what we are looking at now…I think we are in “Set” position before they fire the gun to go.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: No word yet on the budget thus we thinking it will never get there first without the CBI popping the rate first then goes to parliament.
FRANK: Yes, 100%…You cannot launch a rocket without fuel. You cannot launch this budget without the exchange rate…
FIREFLY: Drone strike at Iraqi gas field kills four. The crooked are trying now to make it seem unsafe to invest. Trying to stop this revaluation.
FRANK: Ugly people do desperate things but stay strong. You know it’s coming.
Article:
“Will the agreements signed with the US Treasury reflect positively on the exchange rates?”
Yeah because they want at least 1 to 1 but they never changed it. They kept it at 1320. I think they’re going to come out at maybe 1 to 1.30 or 1 to 1.50 and then float…The only reason they ask this question is because they know the answer to the question!
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MarkZ
[via PDK]
Question: Did Kuwait revalue over night?
MarkZ: I believe they revalued mid morning. Around 10:30 or 11:00… I am confident it was daytime because the very same day it revalued…they ran articles in the papers that they were not ready to RV for months…maybe years. Then “BAM” they released it. That’s why I warn you guys about all the smoke and mirrors…Don’t jump off a cliff when you see stories like that. Just wait.
Question: Mark, do you see May 8th rumor that (the WTO entrance) as a hard date that Iraq cannot go past without announcing their new rate?
MarkZ: I hate to give dates…but there is a good chance it could go before then.
Question: What does your gut say?
My gut is pretty mad we are not done already…but I feel that there is a good chance before the 9th of May. There is a lot expected to happen over the next few days.
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PompeyPeter
Sudani has said on several occasions talked about commencement of the reconstruction of Iraq in the month of April. Salih the economic advisor talked about them spending 50% of GDP in April. Well he said within two weeks which would take us to the end of April…In order for those things to happen it means the investment side of the budget has got to be opened. They’re not going to be doing all these things at 1310. We know the contracts cannot be written in dollars anymore. They’re in IQD. Again these things are not going to be done at 1310.
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Jeff
Article:
“Parliament expects the arrival of the 2024 budget schedules”
Quote:
“…There are efforts to guarantee the right of many segments in the items and schedules of the 2024 budget but they cannot be judged without waiting for the numbers they contain.”
The rate has to change before parliament can approve the amendments to this budget. This is why I showed you the final countdown a few days ago because I knew this was coming forward and here it is for you…
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Breitling
The threat of a lop is still the same as when I got into this investment…The lop question is based on hyper-inflation …verses policy inflation. The Iraqi dinar is stable. It goes up, it goes down but it’s not major like what Zimbabwe and these countries where it was massive inflation. No body could control it. Iraq has complete control of the Iraqi dinar …The Iraqi dinar is a completely different ballgame. It’s not hyper-inflated because of the markets. Iraq doesn’t have a customer problem…production problem. Iraq has a policy issue. The people at the top know what they are doing.
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Pimpy
[Response to Breitling post below.]
To strictly say the sole reason they added the three zeros to the Iraqi dinar is policy based inflation is not accurate. Yes, it was the central bank of Iraq that devalued the currency…[and] added the 3 zeros…The first gulf war you can see what the inflation rates were. 1991 – 180%. That’s really high. ’92 – 83%. ’93 – 207%. 1994 – 448%. 1995 – 387%. When you average all these thing up, by the time we got into re-denomanating the currency and the new Iraqi dinars were created getting away from the S----m notes and Swiss dinar to the currency we have today all these things contributed to it. Hyperinflation, mismanagement, all those things played a key part. So there is no one thing that happened.
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Deepwoodz (KTFA)
We used to get articles all the time about the need to pay salaries. I haven’t seen these much lately, if at all. Something else missing has been the START of new contracts and their costs…With the added 400 billion in new agreements Sudani spoke of. That’s billion dollars too by the way. Convert that to dinar if you like and see if you think Iraq has ever had that many dinar printed. Then we have the HCL rights which are defined in the constitution as well, but still nothing on paper. Obviously Sudani’s government is keeping a secret. I wonder what that could be? Wouldn’t these three items be dependent on a NEW value to their currency? I have no doubt.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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