Dinarland Highlights – 9.24.24
MarkZ
[via PDK]
We have Sudani in New York and Al Alak (Governor of the CBI) is openly discussing deleting the zeros- which is kind of a first for him. And we have HCL movement in Iraq. There is big stuff going on.
Article:
”Tomorrow the launch of employees salary financing”
That came out yesterday so it is today. Today they are getting paid. This is HCL (Hydro Carbon Law) stuff going on.
Article:
“Kurdistan deposits nearly 100 Billion dinars of its non-oil revenues in the Baghdad Treasury”
IMO they would not be doing this if they were not done with HCL…Look for an announcement at any moment.
The chatter coming out of the banking side has been pretty severe today – in a good way. They say rates are being seen…but I haven’t confirmed them …But I am hearing this from 3-4 different sources that work at different banking institutions…and they all agree on the rate of $3.57 on the screens…It’s certainly interesting this is being seen by so many …and the same rate.
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Mountain Goat
Article:
“BY 48.5%.. BANKS ASSOCIATION: FINANCIAL INCLUSION IN IRAQ HAS INCREASED”
…When will they feel they have achieved enough? I think they are about there already. Choo Choo!!!
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Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Channel One News is showing the Kuwait dinar currently at $3.60. They’re talking about the Kuwait dinar?
FRANK: What the hell for? You know why [Firefly].
FIREFLY: Mr. Sammy [bank friend] expects by the end of this year or early ’25 we will see what we’re looking for…but he agrees with you it could happen at any time in the next three months of this year.
FRANK: Mr. Sammy and I are on the same page. The only difference is he’s truing the pages a little slower than I am. I do not see this going into next year.
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MilitiaMan
Article quote:
“US Department of Treasury…Deputy Secretary of the Treasury has support for the Central Bank of Iraq and the Prime Minister’s reform agenda…He’s applauded Iraq’s 6% growth in the non-oil economy.”
Here they are just getting started and they’ve already got 6% increase. That’s huge you guys. That’s really big.
We had three articles the other day and now we have another one out today.
Article:
“Removing zeros from the Iraqi dinar is back in the spotlight: Strengthening the currency or just changing its form?”
Quote:
“…Remove the zero…is done by removing specific number of zeros from the nominal value of the currency.”
They didn’t say from the currency bills themselves. They’re talking about the nominal value. For all you folks out there that have been talking about a lop, please just read and see…What is the value of your currency? Today it’s .00076. If you take off 3 zeros what do you have? .76
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Samson (KTFA)
Article:
“Removing zeros from the Iraqi dinar is back in the spotlight.. Strengthening the currency or just changing its form?”
Article:
“Prime Minister discusses with US Secretary of State ending international coalition presence in Iraq”
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Clare (KTFA)
Article:
“Iraq Plans Currency Redenomination Amid Economic Challenges”
Quote:
“Many countries remove zeros from their currencies to revalue the national currency and facilitate financial transactions. This process involves eliminating a certain number of zeros from the nominal value of the currency, making it less inflationary and more stable.”
Article:
“Iraq presents to US Treasury date for abandoning currency auction”
Quote:
“The Prime Minister informed Mohammed Shia Al-Sudani, US Treasury Department, keeps only 5% of remittances Foreign It is not done through the electronic platform, and it will be completed by the end of this year”
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Pimpy
[Response to Guru Markz post 9-23-2024 below]
They’re not doing exactly the same thing they did in Kuwait…Iraq has 25,000 notes. Kuwait never inflated their money. They never had to. They’re not using the same terminology…They devalued their currency to keep it from being stolen by Iraq…They didn’t want the Kuwait people to lose their wealth so they devalued the currency. As soon as Iraq was chased out of Kuwait they turned around and they re-denominated which means they changed the looks of the notes. They didn’t have to delete zeros…Kuwait got new notes. The denominations never changed…
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RayRen98 (TNT)
It’s GETTING HOT IN HERE…!!! BANKS ARE VERY EXCITED…SEEING DINAR @ $3.57. THEY SAY THEY’RE JUST AWAITING AUTHORIZATION…THE $3.57 RATE ON THE BANK SCREENS WILL BE HIGHER WHEN WE GO IN… EVEN THOUGH SOME ARE EXPECTING IT TODAY, I AM FOCUSING MORE ON TOMORROW... DEFINITELY “GOOD NEWS”…IF IT HOLDS TRUE.
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Jeff
We had five of these articles talking about deleting the zeros…and then one today, so six total within 3 days. Very amazing …Removing zeros is getting rid of the large 3-zero notes and replacing them with smaller size currency notes but at an increased value. So when the rate changes the large notes have the same purchase power before the rate change as the smaller notes after the rate changes. They would have to increase the value for the currency, strengthen it, to delete the zeros… This news is looking really good.
Pretty much everything happening right now, along with Sudani being in the UN, everything has to do with Iraq going international…
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Fnu Lnu
I would like to assure the Dinar investor community of a couple of things. There comes a time when common sense and logic must prevail. There will be NO travel necessary to exchange your Dinar for American dollars (USD). You will not have to go to Jordan, Egypt, or Syria. There will be NO $0.10 revaluation. It was already at the rate of $3.22 to 1 Dinar when the only resource was oil. Dr. Shabibi, the preeminent expert, stated publicly, that Iraq could sustain an $16 to 1 Dinar rate but lets not get greedy. $4.80 is just about right. Stay tuned because I will have a mind bender coming for you next time and it will really make you think.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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