______________________________________________________
The Dinar Goes to London
By David E. Atterton | Reset Intelligence | @EXIT_FIAT
The bankers are the story.
What happened this week
• London – a delegation of Iraqi bankers, government officials, the Central Bank of Iraq, and the private banks wrapped up a 2-day program on June 9: a closed session at Chatham House and the Iraq Britain Business Council conference at Mansion House. The law firm organizing the sessions, Hogan Lovells, is one of the top banking compliance practices on earth. The stated purpose: plugging Iraq’s private banks back into the global banking system.
• The central bank – the CBI denied in writing that it prints money to cover salaries, and named the recoverable tool it does use. The same week it trained the staff who count and quality-check the note at its Erbil branch, and ran its auctions pulling surplus dinars off the street.
• The pipeline – Baghdad and Amman sat down on the Basra-Aqaba line: 4.6 billion dollars, 1 million barrels per day to the Red Sea. A second export door that does not pass through the Strait of Hormuz.
• The cabinet – CBI watchers report a July 1 target to seat the last 9 ministers, with defense and interior at the front of the queue.
Why London matters
A currency is only worth what a foreign bank will clear. A revalued dinar that cannot settle internationally is wallpaper. Convertibility comes before the number, and convertibility runs through correspondent banking – the accounts the world’s banks were refusing to open for Iraq for years. That is what was on the table in London.
There is a precedent. February 1953. West Germany, 8 years out of the most destructive war in history, sent a banker named Hermann Josef Abs to London. The creditors cut Germany’s debt in half, and in return Germany got the one thing no army could give it: banks willing to hold its accounts and clear its trade. The world called what followed the Wirtschaftswunder – the German economic miracle.
Advertisement
______________________________________________________
That is the short version. The full briefing walks the whole map: what the compliance sessions actually certify, what Iran’s 2015 mistake proves about skipping the London step, the exact sequence between the cabinet, the budget law, and the rate – and what it means for anyone holding the note.
The kinetic strikes will own the general public’s attention over the financial moves made this week, for as long as the media wants to distract you.
Watch the bankers, follow the money, not the missiles.
Read the full daily briefing free for 5 days. Sign up here: resetintelligence.com
The 118-year background is in the book – Head of the Snake, 25% off with code 25XOFF: resetintelligence.com/head-of-the-snake.
Free guides and scenario reports: resetintelligence.com/resources.
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is an informational news aggregator. All content, including third-party reports and community commentary, is provided for educational purposes only. We do not provide financial, legal, or tax advice. We do not recommend the purchase or sale of any currency or investment. Please consult with a licensed professional before making any financial decisions.
Copyright © Dinar Chronicles
______________________________________________________
