Dinarland Highlights for May 21, 2024 (2024)

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MarkZ

[via PDK]

Most of what I am getting is that rates should be resettled on Wednesday.But I don’t know what that means for us timing wise. This actually makes sense to me because of where the sources are from and their connections …in Iraq they are not releasing the specifics of the 2024 budget that they approved and announced yesterday. I want to know if there is a rate in there.

We know that the budget has passed with $162 billion. It was $153 B last year…There is plenty in the news showing us it is passed…but I have yet to find where they are covering a budget shortfall with a rate…I was told to expect something within days of it being passed.

Comment:Its interesting they are saying billions and not trillions for their budget totals. They must have a rate hike? Right?

MarkZ:You are getting it. We are just trying to piece together “what is that rate?”

Question:What do you think the new rate for Iraq will be?

MarkZ:I could be wrong but,I think the rate will start about $3.90 or so. But we are totally guessing.

Frank26 (KTFA)

Article:
“The Central Bank begins the second phase of its banking reform strategy”

THE SECOND PHASE OF THE MONETARY REFORM OF THE IQD…’WILL BE REFLECTED IN THE STABILITY OF THE EXCHANGE RATE AND THE RECOVERY OF THE IRAQI DINAR INEVITABLY‘! (INEVITABLY MEANS IT HAS TO HAPPEN… IN CONCLUSION: A SANCTIONED PROGRAM RATE DOES NOT REFLECT STABILITY !)

THE MOMENT THEY RELEASE THE NEW EXCHANGE RATE AND NEW LOWER NOTES… THE FLOAT AUTOMATICALLY STARTS ON FOREX! That’s the float that’s going to take it to the real effective exchange rate.

MilitiaMan

Article:
“The Central Bank begins the second phase of its banking reform strategy”

They’ve completed the first phase of reforms and now into the second phase.

Quote:
“It will inevitably bring stability and the recovery of the dinar.”

This is amazing…There’s some things happening that obviously are beyond our pay grade that are almost available and ready to go. This article…’...inevitably the exchange rate will be in recovery.’To me that means they’re going to go back to that ‘previous era’. That would be a recovery. Going from 1460 to 1310 or from 1310 to 1182, that’s not ‘recovery’…Second phase is that we’re at that juncture.

The executive order 13303 was signed by the United States President. I take it as a positive…What does it mean?It means to me that there’s some protections for Iraq…and also protects the interests of the United States of America...I’m really excited to know thatthey have signed it…a couple days early.

Clare (KTFA)

Article:
“The Iraqi Parliament receives the 2024 budget schedules”

Article:
“Notice on the Continuation of the National Emergency With Respect to the Stabilization of Iraq”

Quote:
“The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States…I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303.”

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Pimpy

There’s a lot of interesting news but one in particular just got my attention.The conversation about floating the Iraqi dinar.If ever you wanted something to happen and for it to move in a positive way, floating the Iraqi dinar would be it since they have not re-denominated and they have not removed the zeros, if they go to a floating exchange rate and… the world goes crazy and starts buying up a lot of Iraqi dinar and it causes the exchange rate to jump up in value really quickly…as soon as you spot a rate you’re comfortable with, man you better sell and…get rid of the dinar…This is really exciting if they decide to go that route. I just don’t think they’re going to do it.

Kaperoni

The Central Bank of Iraq has already talked about ending the currency auctions by the end of this year.A float is the replacement for such an event.

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Mountain Goat

So, in today’s news we read multiple articles coming out from the CBI and the Iraqi news telling us about yet more “WOW!” news…much of this news is confirming what my CBI contact told me recently so my trust level of my contact increases too. …In today’s news the CBI is telling us they are moving into the “second phase of banking reforms”…WOW! WOW! WOW!…Folks this RV train is moving along rapidly now. It is right in our faces now what they are doing. No more guessing or hoping. The reinstatement spigot is now wide open! …The reinstatement is coming…Folks, it is now EXPLODING!

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