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Dinarland Highlights – 8.1.26
Bruce (The Big Call)
[via WiserNow]
The weekend is definitely in play. The weekend we’re hearing from several sources is going to be the kickoff, the beginning, and I believe they’re thinking in terms of Saturday, now if we do start Saturday…Redemption centers will be open… , they’ll stay open Sunday…as you guys know, there’s no contract rate on the dinar except at the redemption center…Wells Fargo is in charge of the redemption centers in the United States.
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MarkZ
[via PDK]
If the rumors are correct…we may have a heck of a weekend…a heck of a week. In a nutshell they believe the Clarity bill will pass this weekend and get stamped and approved. I was told this is the final trigger to release everything all at once. A shotgun start. There is a process once they do pull the trigger. It may take a few days to complete. A lot of bond people who are so tired of hearing “next week” feel like this really is the trigger. I am hearing this from a number of bond contacts and one currency group.
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Ariel
Iraq’s Currency Reset As The Gateway: Iraq’s Central Bank…has been executing the Deletion of Three Zeros project in coordination with the International Monetary Fund’s Middle East Technical Assistance Center. The mechanics are straightforward on paper. The current 25,000 dinar note gets replaced by a 25 new dinar note with equivalent purchasing power. The exchange rate adjusts from approximately 1,310 IQD per USD to a projected range between 1.00 and 3.22 new IQD per USD depending on which internal CBI projection you access.
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Stephen
The most important thing you need to worry about and the most important thing you need to do once the revaluation happens is get your [USD] money in your [bank] account. Get your dinar exchanged. The most important thing you need to do is just go to a bank. Make sure you’re going to the right bank and the right branch…You have to be wise…
I don’t think there’s a date on the calendar that says the dinar is going to revalue on this specific date. I think it’s a moving timeline and certain things have to get done for that event to happen. I believe we are closer than ever. Do I believe August could be the month? Absolutely. But we simply don’t know…Let’s be calm, patient, grounded…I know it’s exciting…Be positive, filled with expectancy but remain grounded and level-headed…
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Jeff
What brought the value of the dinar down? It was Iraq getting placed under US sanctions. US OFAC sanctions very simply brought the value down. What happens when you take the sanctions off? It reinstates back to where it was. In ’03 sanctions devalued it from $3.22 so when you take the sanctions off it should put it right back up again…
Going back to the 60’s the value of Iraq’s currency has always been $3+ and slightly above Kuwait’s currency…Kuwait’s currency value today is at $3.22…Historically Iraq has always been above Kuwait slightly.
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Reset Intelligence
Baghdad keeps doing quiet, boring, specific things to its money that only make sense in one direction.
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Sandy Ingram
In 1980 the Zimbabwe dollar ZWD was introduced. Zimbabwe become independent from Britain. The Zimbabwe dollar replaced the Rhodesian dollar. It was stronger than the US dollar – approximate value 1 ZWD = $1.47 …Iraq as never been in the position Zimbabwe has been in. Zimbabwe doesn’t have billions of dollars of oil revenue each month…Iraq is so much more. Its economy is more stable than Zimbabwe has ever been. Yet Zimbabwe is presenting 1 ZIG = $.036 after falling in a deep hole of economic depression…Today the ZIG is more stable but the US dollar remains widely used in the country…In Zimbabwe they were given 3 weeks to exchange the old ZIM currency for the new ZIG currency which is backed by gold.
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Frank26 (KTFA)
Question:
“My first stash of currency was stolen so I can’t redeem it, but I could be on [the US Treasury] list. I don’t want to pay taxes [on the stolen notes].”
Don’t worry about that. You will pay taxes on the currency that you exchange. If you have a million dinars and it burned in the fire, you’re not responsible for it to turn it in. You have a million dinars and you bury it in your backyard and you just want to leave it there because that’s what you want to do, that’s your prerogative. It’s not until you exchange it that you have to pay Uncle Sam.
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Kaperoni
If Iraq is ever going to increase the value of the dinar it has to be done gradually over time so that they can remove the currency that’s in circulation. This process would allow it to gradually rise based on the economic growth and success of their own economy. That is a real possibility, but it would take months, years to achieve any significant appreciation in the value.
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Thom
February 2023: CBI officials publicly denied any rate change was coming. Then, overnight… the rate moved from ~1,450 to ~1,310 IQD per dollar. No Clarity Act. No US legislation. No global crypto event. A central bank made a sovereign decision.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
https://www.dinarguru.com
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