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Dinarland Highlights – 9.5.26
Tishwash (TNT)
“Sources told Al-Mustaqilla that the plan to remove zeros from the Iraqi currency is entering advanced stages, with a plan to replace the currency in early 2027…the currency restructuring file is no longer limited to economic and technical discussions within the Central Bank of Iraq, but has become subject to study at the level of the Prime Minister’s office, within a plan related to the mechanism for moving from the current currency to a new monetary issuance after removing the zeros.”
“…the discussions are currently focused on developing a clear implementation plan for the replacement process, the transitional period during which the two currencies will be traded, the mechanisms for banks and government institutions to deal with the new currency, as well as the procedures related to bringing the largest possible amount of cash outside the banking sector into the formal financial system. The sources confirmed that 2027 is among the current proposals as a possible start date for the process of replacing the old currency with the new one, but stressed that the date will not become officially effective before the completion of the governmental and legislative process and obtaining the required approvals.”
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Mountain Goat
I…want to point out the convergence of events that is about to happen. We will get peace in the middle east, Iran’s influence in Iraq will end, the IQD will be on FOREX, accession to the WTO, and we will be going to the bank. The only issue we don’t know for certain is the timing of it all. For us we must watch the timing of the removing the zeros. This will be the movement we need to see. There is ABSOLUTELY NO WAY the IQD could EVER go back to FOREX at a rate to attract investors at 1/6 of a penny so it will have to be at least over the 1990 pre-war days of $3.22. Iraq MUST FIRST REMOVE THE ZEROS thus swap out them out for the newer lower denominations. The ONLY reason why they have not yet done this is due to c********n…Shut this c********n with Iran down and then remove the zeros and “away we go”…
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Jeff
They’re not waiting until ’27 to delete the zeros. In my strongest opinion I think they want all the zeros deleted during Q4 which would be the beginning of October to the end of December. The ’27 budget is based off of the new smaller currency value… Deleting the zeros means withdrawing the 3-zero notes. The phrase deleting the zeros means nothing regarding the exchange rate…only means to phase out and get rid of large 3-zero currency notes. That’s all it means.
Question:
“Do you think we’re going to have to have a receipt?”
Let’s talk about this receipt c**p…You need receipts to exchange your dinar is the biggest pile of horse c**p. You don’t need it. If you went to Mexico and came back with pesos or you came back from Europe with euros, do you need receipts to exchange? The answer is not just no, it’s hell no…Put your thinking cap on. At the bank level (not tax level) what do your receipts do for you? Nothing. Receipts don’t prove your currency is real. The security features on the currency do that. Not receipts. At the bank level receipts don’t do a d**n thing for you…Your receipts are for your CPA and tax purposes.
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Reset Intelligence
The CBI sets and announces the rate… any morning it chooses. It does not need the budget, the cabinet, or a vote. That is literally the law: Central Bank Law No. 56 of 2004, Article 1/4/A, exclusive authority over exchange rate policy.
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Frank26 (KTFA)
The IMF and the UN operational rate of the exchange of a country is reported on the 1st and the 15th of every month…
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David
You cannot pass a budget unless you have an established rate…I’ve used the word float to contextualize what is going to happen with the Iraqi dinar. But at best it’s going to be a managed float. It will not exceed 8% to 10%. I can guarantee you it can not...because if there is significant fluctuations in the currency it can destabilize…When I say floating currency, it’s a managed float. It has to be… Question “You’re saying a managed float from the new…price they put on the Iraqi dinar, correct?” That’s correct.
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Sandy Ingram
Many IQD investors have been told that when they experience a profit on their exotic currency investments there will be no taxes. One of the reasons for this misinformation is because when you exchange currency at an international airport all that is required is your passport. No taxes are applied. However, if you want to exchange $5,000 or $10,000 the entire process would be different…The moment you step away from the window the transaction is reported to the Department of Treasury, aka the IRS...The United States has agreements with most countries and as part of these agreements United States citizens financial transactions over certain amounts are reported. When you file your taxes and the transactions are not found on your tax return then you would trigger a paper audit and a CP2000 would be mailed to you. From there, you know the drill.
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Stephen
Are we going to have to trade in our dinars for [lower] dinars? Unless you’re living in Iraq, no. We are in this process to make a profit. We’re not here to exchange our old currency for new currency. That would make zero sense.
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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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