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Dinarland Highlights – 10.22.26
Mountain Goat
Article:
“THE DOLLAR RISES FIRST… BAGHDAD IS KEEPING THE DATE FOR CURRENCY REPLACEMENT SECRET FOR FEAR OF A MOVE BY “BIG PLAYERS”
Quote:
“Raising the price of the dollar to more than 1500 dinars may not be the last surprise that Baghdad has in store…the government is preparing for a more sensitive step, which is replacing the currency and removing zeros from it. The process may begin within a few months…”
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Bruce (The Big Call)
[via WiserNow]
Bondholders are something that is supposed to go right barely ahead of us getting our numbers… I think everybody’s going to have access to funds at approximately the same time.
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Judy Byington
There have been various dates and times published for Tier4b to be notified and exchange/redeem currency and bonds. All we really know for sure is that the World Court has ruled that Tier4b has to be finished exchanging/redeeming currency and bonds at the special rates by Sat. 31 Oct. 2026. Then on Sun. 1 Nov. The general public will be notified to exchange their foreign currencies at the new international rates.
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Jeff
The US Treasury asked Iraq to secure their Iranian borders, not because of military tensions, strongly suggesting they’re about to change the rate very soon…The only reason you’d close the borders…is to prevent Iraq’s new valuable dinar from getting stolen from banks and ATMs and taken back across the border.
Some people are in the $4+ camp. I’m not over $4.00. I’m more around $3.80 not $4.00+…Historically Iraq has always been slightly above Kuwait. Today, Kuwait is around $3.25. That’s why I’m in the $3.80 camp not in the $4+ dollar range.
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Reset Intelligence
Iraq has put its banks on overtime. Four of them now open on Fridays, normally a day off in Iraq, starting tomorrow, and every bank is working holiday hours to push through payments abroad. The Central Bank’s adviser says about $3 billion in payments importers booked before the October 7 rate change was paid at the old rate. The banks are working their days off to clear the rest. We could be watching Iraq clear its old ledger before it opens a new one, at a new rate.
Iraq right now: 7.5 billion new banknotes ordered. 175.6 tonnes of gold in reserve. Deleting the 3 zeros being discussed. America’s banks invited in. The IQD cut to 1,500. Why do all of that to leave it at 1,500?
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Stephen
You have the US Treasury Department telling Iraq to close its borders with Iran. I think that is significant. Does this mean revaluation tomorrow, this weekend or this month? Nobody knows.
Once the revaluation happens it’s going to be exciting. Your goal is to exchange that currency into US dollars. …you go to your bank and everything is done and processed and they give you a receipt, ‘here you go, Judy or here you go, John.’ You look at the receipt and it says, let’s say you have $2 million in your bank account. I plan on going home, refreshing my [online] bank account until that money is in there because ultimately a receipt doesn’t mean anything. I need to see those funds deposited into my bank account. That’s why you want to ask…How soon are these funds going to be available? …Until that money shows up in your bank account, it’s not final.
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Samson
Article:
“IRAQ CLOSES MOST IRAN BORDER CROSSINGS UNDER US PRESSURE”
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MilitiaMan
The CBI media director restated that the deleting the zeros is not within the bank’s authority and requires a legal legislative path. Understand that deleting the zeros is different than a Real Effective Exchange Rate. But it is tied to debts, legal obligations, and fines existing in laws. A REER adjustment is a change in external value. The 2023 [rate] move showed the CBI can adjust the official window without legislation. The two files stay separate. The zeros file needs parliament. The rate file does not.
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Clare (KTFA)
Article:
“We await the implementation of all of al-Zaidi’s pledges to Trump, the US State Department said, urging the Iraqi Prime Minister to fulfill his commitments regarding combating terrorism and preventing attacks inside Iraq and across its borders”
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IRS Guru K-Dog
Yes!! there will be taxes owed and there is a specific statute that covers this type of investment. IRS title 26 Section 988, gains/losses from currency exchanges. This will be handled as ordinary income but make no mistake, we will be required to pay taxes, not when we exchange but either by paying estimated taxes when we generate the gain, or at the end of the year when we file our tax returns. Having worked in a federal task force I can tell you that the IRS will certainly be aware of our windfall and documents will be generated from the bank where we exchange our dinar to notify the IRS. Consult your tax professional for advice.
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Frank26 (KTFA)
Let’s say [the bank] wants to take your dinars and send them to another bank. Run. Don’t ever let your dinars or dong or whatever currency…out of your sight. If they say to you, we’re going to take your dinars and send them to headquarters and they’ll be able to tell us if these are authentic or not. Ask them, what is the address to where you are sending them? [And you take them there]…Apply proper stewardship.
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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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