Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
http://www.dinarchronicles.com/intel
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Poppy3:
Quote:
"Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities."
THE ONLY PROBLEM WITH THAT RATE IS IT DOESNT HAVE ENOUGH VALUE FOR THE PEOPLE OF IRAQ TO GAIN CONFIDENCE IN THEIR DINAR TO STOP USING THE USD.
FURTHERMORE IT IS NOT NEAR ENOUGH TO FULFILL THE BUDGET OR TO FUND THE HCL . THESE THREE THINGS ALONE TELLS ME IT WILL BE HIGHER THAN ONE TO ONE.
I ALSO POINT OUT ANYONE INVOLVED OR IN THE AUTHORITY TO MAKE THAT CHANGE HAS NEVER SAID A WORD ABOUT 1 TO 1 OR A LOW RATE PERIOD. ONLY PEOPLE MAKING THEIR SUGGESTIONS HAVE ALLUDED TO 1 TO 1 POSSIBILITIES.
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WHY THE POSSIBLE DELAY THAT IS BEING DEALT WITH EVERY HOUR RIGHT NOW---THEY HAVE NOT PASSED THE BUDGET BECAUSE UNTIL THEY ANNOUNCE A NEW RATE THEY DON'T HAVE FUNDS TO BACK THE BUDGET. THEIR CONSTITUTION WILL NOT ALLOW THEM TO USE THE RESERVES. THEY HAVE TO REACH AN AGREEMENT ON THE RATE AND STEP BY STEP PROCESS TO USE WHEN THE RATE APPEARS TO FUNNEL THE FUNDING TO THE GOI TO FUND THE 2014 BUDGET.
AGREEMENTS CAN BE COMPLETED ANYTIME. STAND BY FOR VICTORY. THIS IS WHY NEWS IS SLOW BUT ALSO WHY ITS ALL PROGRESSIVE AND FINANCE DIRECTED.
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[do we have any more info on when the ESX goes live?]
ALL I HAVE VERIFIED IS THEY ARE ONLY TRADING IN COUNTRY AND VERY LIMITED AND THAT THEY ARE PREPARED TO GO INTERNATIONAL AT ANYTIME BUT MUST HAVE A ACCEPTABLE RATE FIRST.
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Millionday:
Article quote:
"Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation"
CBI IS DONE WITH ALL 7 COINS THEY ARE GOING TO USE AND READY TO RELEASE THEM AND REMOVE THE 3 ZERO CURRENCY ACCORDING TO THIS ANNOUNCEMENT.
IT LOOKS LIKE THEY ARE CHANGING THE RATE. WE WILL HAVE TO WAIT UNTIL WE SEE IT -- BUT WHAT PURPOSE WOULD THE COINS AND LOWER DENOMS BE? YESTERDAY THEY ANNOUNCED THAT THEY ARE LAUNCHING THE GLOBAL MARKET LINK TO GLOBAL BANKS AS WELL.
KNOW THIS IS HUGE HUGE NEWS.
YOU SHOULD BE DANCING IN THE STREETS...
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[what is better for the Iraqs to do , come out with a higher rate or lower rate to control their inflation?]
HIGHER.
IN THE 90`S THE RATE WAS AROUND 3.22 BUT WE HAVE NO INFO ON THE RATE OR THE DATE.
I DO NOT BELIEVE THEY WILL ANNOUNCE THE RATE CHANGE -- IT WILL JUST BE THERE WHEN THE INTERNATIONAL RATES CHANGE -- THEY JUST ANNOUNCED AS WELL FROM CBI THAT THE BANKS HAVE BEEN MAILING OUT THE VISA BANKING CARDS AND THE SMART CARDS ARE OUT AND READY FOR THE REST OF PEOPLE AS WELL.
WE ALSO SEE THAT THE REST OF THE STRATEGIC FRAMEWORK WILL BE COMPLETED AND OF COURSE WHAT IS LEFT IS THE MOVE TO A MARKET ECONOMY AND ALL THAT ENTAILS.
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Enorrste:
While it is true that basic supply and demand for currency within any given economy (Iraq, for instance) can have an affect on the overall value of that currency, there is another factor that is much more important once Iraq moves to Article 8 and the currency is recognized as a valid world currency.
That factor is speculation.
Speculation in world markets is the primary force that drives its value.
Other forces are supply and demand, economic growth, interest rates, and a country's balance of payments situation.
It will be speculation, however, that will be the driving force in the case of the dinar, in my opinion.
The IMF was quite clear in its recommendation to Iraq:
move to a "free float" exchange regime.
No where has either the IMF or the CBI talked about a managed float. Therefore, I believe that once Iraq moves to Article 8 and opens the door for the dinar worldwide that adding or removing large notes will be minor in comparison to the basic speculative demand worldwide. Therefore, I see the currency rising quickly...
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...I have said numerous times before, Iraq is going to be like the "wild west" was in the second half of the 19th century in America. Investors will flock to Iraq to make their fortunes, and they will need dinars to do their business. Therefore, the demand will grow WORLDWIDE for the dinar quite quickly, in my view.
The supply and demand within Iraq itself will be minor:
worldwide demand will grow based upon the influx of investment into Iraq.
Many articles have come out stating that many countries are already chafing at the bit to get into Iraq.
Some have already made strides in this direction, but they are minor compared to what will happen once the currency is recognized worldwide (Article 8 and its protections).
KAP [Guru Kaperoni] has shown that the plan is to get laws in place to offer insurance protection for foreign investors.
That will probably precede moving to Article 8. I suspect all of this will come to fruition within the next 60 to 90 days, after which the float will begin.
...I suspect, the CBI has been preparing for a true "free" float (this is why they have raised their reserves so high)...
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Adam Montana:
[...how many laws can parliament vote on at a time? Is it possible that they could act on 2 or 3 laws in the same day, or do they have to take a breather between each of them. And how much time does it take for it to be entered in the Gazette after it is approved.]
Theoretically, they can vote and pass as many as they want in a single session - there is no law preventing this. Regarding getting it in the Gazette, I have it on good authority that once these particular items are done and there is an official change in the rate, we will see it published in less than 24 hours.
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BGG:
I'm not saying this is happening now - I am saying once you see Fils - they will have to be worth more. Period.
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TD:
I confirmed several points of news & discussion with my Kurdish friend (as always treat all as rumor and do your own diligence). He confirms that the coins WILL BE part of the introduction of the deletion of the zeros program. This actually confirms even more so the LOP to happen as coins will be used in the marketplace along with the new 5, 10, 25 dinar notes. There is NO CONCRETE TIMELINE YET as to when the currency reform will be initiated. As I've outlined before they have crafted all these plans on the blackboard as a two year window of 2015-2016 to INITIATE the program AND as the old and new notes coincide (yes coins introduced) THEN it will take about two years more to pull in and retire all the 3 zero notes.
Look, Iraq is notorious for putting plans out there and then delaying them so we shall see...My contact says EVERYTHING is based on unifying the country and having a uniform, safer environment from which to operate. He says the GOI has their hands full with the war, the economic duress and social problems. Sorry to be a buzz kill BUT my contact indicates there is NO RV/RD/RI scheduled this weekend, November or for that matter the rest of 2014.