Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
I have a few contacts over there that have indicated that some of the big companies that left Iraq and put their projects on hold due to lack of payments, are now coming back and ready to resume their work. What they are share with me is that they have been ensured payment in coming weeks or days now and they are ready to start up again. To me this is huge as they know the budget will get done and in a very speedy fashion.
We are seeing a major change in Iraq and it is all developing right in front of our eyes. From Iraqi forces breaking through the ISIS lines and regaining a town to the Iraqi politicians working around the clock in formation of a NEW Iraqi Government changes are here. Quote: "this week will see the announcement the government formation after the arrival of the talks between the National Alliance and the Kurdish blocs to advanced stages." September 11th is the formation deadline itself according to the Iraqi constitution but if they can announce it this week they will have one more week to vote confidence in Abadi and all his cabinet members.
This time around there are several reports of people celebrating in the streets in many different areas as ISIL is being extracted...Reports that Maliki and his son have moved cars, furniture and generators through the back gate as they vacate the green zone...Reports the Kurds have submitted their list of ministers...Reports the GOI will be introduced Tuesday to Parliament...Reports the Budget is to be voted on... In other words, all the news is positively overwhelming!
I'm not sure they could hold the value down long enough to do them any good. For instance - if they started out at a dime... (purely hypothetical) - there would be a mad rush initially.
Then the value would start to rise once investors figured out what was going on...this rise has been predicted by some well respected economists...it may take as little as 30 days. I don't think they would get much off the street that quickly. It would take a while just to get to a bank, get verified, get exchanged - etc, etc, etc... a true float would wind up at a "reality rate" so quickly I don't know they would get enough off the street to risk the down side later.
"Calls for the central ministries to work the new system of payments"
Great news for sure as the CBI activates the electronic banking system throughout Iraq.
When you look at the bigger picture, this is sooo important. The CBI wants to get the country banking system up to par with the world. Electronic banking/settlements etc is significant to investor confidence and will go a long way towards inviting investment capital into Iraq. As soon as they decide to go to Article VIII and a new Exchange Regime Iraq should really take off. No doubt in my mind and as a result the currency should as well.
[just what IS the HCL?]
HCL is...the "Hydro Carbon Law".
It is the key to letting Iraq work as a functioning business, and until it is passed there will continue to be struggles with the monies that come in and out of Iraq.
Basically, once the HCL is in place... game on!
[We know the Iraqi dinar is under a managed float regime In a float The official exchange rate changes with the Buying and selling of the dinar by the central bank which I turn establishes and maintains the exchange rate. Do ya see a way for them to drive up the market rate by setting the dinars rate higher at the banks in Iraq before the official exchange rate is changed?]
it sounds like you are describing a way for the CBI to "manipulate" the rate... in which case I have to emphatically say YES - they definitely have the ability to do so!
And in my opinion, they WILL do so...to their benefit and also ours.
THE BUDGET IS NOW JUST WAITING ON THE VOTE WHEN THEY MEET I BELIEVE IT SEPT 2ND.
[do you feel they vote on the pm and the government Tuesday?]
ABADI IS STATING HE WILL HAVE ALL THE NAMES EARLIER THAN THE 9TH FORMATION DATE BUT I DONT KNOW IF IT IS TUESDAY.
I KNOW THEY HAVE STATED ALOT IS GOING ON TUESDAY AND...AND HAVE ALOT OF PRESSURE TO FORM NOW.
GOV BEING FORMED - BUDGET READY FOR VOTE -- AND US ASKING THEM TO HURRY AND FORM...VERY ENCOURAGING.