Dinarland Highlights – 5.10.24
MarkZ
[via PDK]
Question: Does the VND have a contract rate?
MarkZ: I wouldn’t call it a contract rate – more like a pre-negotiated fee/whatever for a maximum rate. The reason there is a contract rate on the IQD is the dinar for oil program …allowing them (US Treasury?) to exchange dinar for oil over time instead of all at once.
I still continue to hear phenomenal hopes from bankers for the coming days/weeks.
Community Comment:
“Got an email from [Dinar Dealer] offering 825 for a million dinar buy back. I think that is a good sign.”
Because they can’t get any out of Iraq. Iraq is limiting it. So they are trying to get dinar from you. This is great news for us
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Yada (TNT)
Iraq is done and preparing for the other side of the release. And that is controlled by the UN-IMF. The parliament vote will be for all the new contracts but the rate release is a go…
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Frank26 (KTFA)
Don’t you have to have a high exchange rate to be part of the WTO? No. What do you have to have? A sanction free currency. Are there any sanctions on the dinar? No more…99.9% are gone. Sanction free currency. Sanction free country. Sanction free bank of that country. That’s why they’re members of the WTO. They already told you that they are and that’s the end of that subject…You need to see something that tells you it’s official today? They already told you.
[Iraq boots-on-the-ground report]
FIREFLY: International Development Bank opens in Erbil.
FRANK: Notice how they are preparing your banks in many ways to receive the new exchange rate when Sudani releases it. They talked to you about the float…the basket… the lower notes…the old lower notes, your history…Now they’re going to tell you Iraqi citizens about your banks…they are educating you on the many services that your banks will be offering you once this exchange rate is released.
Don’t you dare let your dinars out of your sight. Don’t trust anybody. Especially the banks.
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MilitiaMan
We all know the project to delete the zeros has been on the table now for many years but it was taken off the table, back on the table…The delete the zeros is all about what? Creating value.
They cannot tell every single person in the world, ‘We’re changing the value of our exchange rate tomorrow or the next day.’ They can’t do that. However they’ve been telling us…they’re going to be doing it…We have evidence of it…
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Clare (KTFA)
Article:
“Floating the dinar” returns to the forefront.. Will the Central Bank of Iraq resort to it and what are its risks?”
Quote:
“From time to time, calls for floating the Iraqi dinar float on the surface of the Iraqi financial market…these calls meet every time they return to the forefront, with supporters who see it as saving the Iraqi economy, and opponents who see it as the most dangerous stage that Iraq will pass through because of its…risks to his economy…“
“…There is a possibility for the central bank to follow the same mechanisms as the American Federal Bank. Strengthening the dollar in the market is determined by the American Federal Reserve, and it depends on the market mechanisms of supply and demand…This policy may be a successful alternative in Iraq by following a managed float policy“
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Deepwoodz (KTFA)
Talking about the float again… That’s what’s coming or these guys wouldn’t be putting their two cents in. Some of what they say is true, some not. Even Saleh commenting on not knowing where it will end is a load of c--p. The CBI can start/stop, change, maneuver the rate any way they like at any time…OF COURSE they can do whatever they want! They are a sovereign country again. Pretending like they have no control.
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Pimpy
Let’s hope it [ascension to full WTO member] happens quickly but it’s not going to be done by [the end of] 2024.
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Paulette (KTFA)
Iraq’s WTO Accession Package will likely not be submitted for adoption until MC14 which will be held in early 2026… It clearly was not submitted for adoption at MC13…I anticipate that by then we really won’t care.
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Fnu Lnu
Question:
“What type of paperwork has to be created with the exchange…Not every teller can open a savings or checking account.”
There is always an account manager or membership manager and all Bank managers and assistant managers can open accounts. If you want to make an exchange then you can also use your existing bank account no matter who it is. Just supply the routing number and account number…In my case, my bank has its SWIFT management apparatus through Wells Fargo so although I don’t have, nor do I want a Wells account, my deposit will be just as fast. My SWIFT number is a WFXXXX number even [though] my bank is not a Wells bank.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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