Dinarland Highlights – 6.11.24
Mountain Goat
…the IMF is not going “lop” theIraqi dinar. A “lop” is a tool the IMF uses to restart a currency from massive inflation.
…We also have articles for Iraq telling us they WILL NOT lop the dinar. They do not have massive inflation and so this tool of a lop is not necessary. That is why they call it the “project to delete the zeros” and not a ”lop”.
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: I talked to my bank friend…He said when we do drop the zeros, we the citizens will have a certain number of days to return for new lower currency. This will be the 1 to 1. Not 1 dollar for 1 dinar but 25k note for a 25 note. It will revalue in country above a dollar…We will probably see dinar in country just over $1.
FRANK: Now do you see why they kept it at 1320?
FIREFLY: The 1 to 1 will be dropping off the three zeros from our exchange rate, from our currency…a 25k note will be a 25 note…This is for inside of country, not outside of country.
Article:
“Al-Sudani: Iraq’s interest in developing gas projects will provide job opportunities and give the economy added value“
I HAVE ALWAYS SAID THE MOMENT YOU SEE THE HCL, SECONDS LATER YOU WILL SEE THE NEW EXCHANGE RATE!
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MarkZ
[via PDK]
Iraq had a good sit down meeting this weekend with the International Finance Corporation. They are on the world stage now. Everything is going really well in Iraq… There is still an excellent chance we will get to quietly go and exchange before the rate is published in the Gazette. They are certainly trying to keep it quiet…just like they did with Kuwait when they silenced communication out of Kuwait for over a week before the rest of the world got to know…. But I don’t think this could happen in today’s world and the internet.
I do have some reports of a few groups that were requested to update NDA’s this weekend. There were multiple reports…which is interesting. A couple of these sources I know personally so believe it is spot on. This is from “Grouped currencies” Not individuals like you and I. With updating their NDA’s – the leaders are expecting something very soon.
Question: Is watching the HCL implementation a good indicator?
It’s a very good indicator. I was told since very early in this process that this was a key indicator…along with the inversion in the bond markets which we have seen.
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Jeff
You don’t want the budget to be approved because if it’s approved, it’s approved with dinar at today’s Central Bank value, 1310. What you want is the court to overturn the approval.
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Clare (KTFA)
IN 2023 THERE WAS AN APPEAL ON THE ACTUAL BUDGET… BUT WAS RULED OUT THROUGH THE COURTS. THE TRIPARTE BUDGET WAS LEGALLY PASSED, SENT TO THE PRES. WHO SIGNED IT AND WAS PUBLISHED IN THE GAZETTE.
Today’s Article Quote:
“I do not think there will be an appeal, and even if there is an appeal, the budget will be spent, because it was voted on and its issue was decided legally.”
THERE IS NO APPEAL ON THE BUDGET SCHEDULES THAT WERE JUST PASSED BY PARLIAMENT AND IT WAS NOT NECESSARY TO BE SIGNED BY PRES. BECAUSE THE BUDGET WAS ALREADY PASSED…THE MOJ HAS IT NOW AND WILL PUBLISH WHEN READY.
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MilitiaMan
Article:
“You will start with the transfer of 2 billion dinars”
Quote:
“Parliamentary legal department, the budget will be dispersed and will not be affected by appeals.”
There’s been some misunderstanding about that out there…
When you drop three zeros it creates value. It’s that simple. And when you add a real effective exchange rate to that value that’s created from dropping the three zeros, that’s when the fireworks begin.
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Walkingstick (KTFA)
[Iraqi Bank friend Aki update]
In the coming days means at any moment now…the articles are going to be showing pictures of the lower notes. It’s also going to give descriptions in the articles of the lower notes…
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Kaperoni
…New currencies coming out in Iraq. Not true, the Iraqi dinar is the currency of Iraq. As far as any new smaller denominations, they will be introduced only as needed if and when the value increases and warrants so. There is no significant RV!
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Sandy Ingram
The Central Bank of Iraq denied issuing a new currency denomination. The decision highlights the bank’s confidence in the strength and stability of the Iraqi dinar, Even as other economies toy with the idea of introducing new denominations…
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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