Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
THERE IS A WAY TO COMPARE ALL PRICING TO MAKE IT FAIR WITH ALL COUNTRIES -- THE USD -- THE SDR -- THE PRICE OF GOLD...
PRECIOUS METALS ARE A GLOBAL PRICING TOOL -- THE IMPOSED RATE OF THE DINAR IS AFFECTING THE GLOBAL PRICE OF GOLD AND THE REASON BEING THE LACK OF SUPPLY AND DEMAND SUPPLYING THE MARKET IN IRAQ -- (MARKET ECONOMY) --- THE HUGE MARGIN IN REALITY IS A HUGE PROBLEM WITH THE WORLD MARKET.
CBI HAS ANNOUNCED THAT THE DINAR WILL BE BACKED BY GOLD -- AND THAT THE MONETARY POLICY HAS THE NEW RATE FOR THE DINAR IN IT AND...
...IT WILL BE WITH THE ACTIVATION OF THE MONETARY POLICY NO DOUBT -- AND THE MONETARY POLICY IS PART OF THE ECONOMIC REFORM THEY ARE ACTIVATING...THE US DOLLAR BECAME THE RESERVE CURRENCY. THE CALCULATION IS BEING DONE ACCORDING TO THE PRICE OF GOLD AND WHAT IT SHOULD BE IN IRAQ WITH THE PRICES BEING SET AND THE DOLLAR WILL BE THE PAIRING CURRENCY OF COURSE.
YES, THEY ARE TALKING ABOUT THE REVALUE OF THE DINAR AND THE SETTING OF THE INTERNATIONAL PRICES FOR IRAQ.
THEY ARE IN A HUGE RUSH DUE TO THE AFFECT IT HAS ON THE GLOBE...WE WILL KNOW VERY VERY SOON...
"Central Bank raises a new class of 10 thousand dinars characteristics of high security"
So it's clear now that they have begun to circulate the replacements 3 zero notes (10,000 dinar) as stated last month in which they had hoped by the end of the month (Aug). This IMO also reaffirms as we have been saying for over a year that no overnight RV is coming today, tomorrow or a month from now. I stand firmly believing the dinar will appreciate as the IMF states..."gradual appreciation"
Keep in mind, the purpose for reprinting the existing notes is to strengthen the banking system (so citizens use the dinar, and it reduces corruption or counterfeiting as said by the CBI). IMO, this move does not support an overnight RV, nor a redenomination (LOP) at least not in the near future.
That being said, we also know monetary change must occur for the success of a transition to a market economy and the CBI opening the Capital Account (it is a requirement).
Therefore, IMO the only thing left is a gradual appreciation as I stated above.
One thing people may not understand, is that as capital investment comes into Iraq (and they expect a lot of it) it will create inflation.
To counter that result, the monetary tool to use is to appreciate the nominal exchange rate of the currency.
That is the very reason an overnight RV makes no sense.
I want to say one more thing...on a good note...the faster the investment comes in (and that is why they are lining up all the banks, etc) the faster the dinar must appreciate to offset the inflation it causes.
"Iraqis hopeful new government will bring reform"
"there isn't much time left."
That to me clearly implies they must change the outlook for the citizens soon.
This train will go full steam ahead to get to a market economy asap.
IMO, realistically I think the dinar should come out (Article VIII) within 90 days providing security forces take care of ISIL and parliament expedites the passage of the stalled laws.
...the Kurds only are giving the new Abadi gov 90 days as well to live up to the demands and agreement.
[What are the remaining demands of the Kurds?]
I don't know them all but a few are payments for Peshmerga, Oil & Gas law, and a conclusion to Article 140.
That is a big hill to climb in a short window. Pretty much everything Maliki promised and never delivered on.
They will never...announce the removal of 3 zeros notes. The notes themselves will disappear as the value rises.
Would you hold $10000 in one note in your hand, or would you deliver it into the bank as a deposit?
The large notes will "fall away" as the value rises.
They won't need to make an announcement.
The market itself will cause the removal of the large notes as the value rises.
I heard on FOX news...that Kerry was in Baghdad and got three concessions/commitments from Ababi:
first, that he would change the oil ministry in terms of what it is doing; second, that he would change the finance ministry in terms of what it has done; and third, that he would change the miliatry in terms of what it has done.
In the case of the oil ministry, it seems clear that Abadi must have committed to change the current failed structure between the Kurds and the GOI.
In other words, he was promising a real change in the oil/gas law situation.
Second, a change in the way the ministry of finance runs can mean only one thing to me...
...he is going to allow the CBI to do what needs to be done to get the dinar into the world market.
This, for us, is the best news of the day and probably the best news to come out of the new GOI.
He has committed to change Maliki's "stall" tactics.
Third, he also promised to change the way the Iraqi military functions.
Taking this in context with Obama's speech today it is clear to me that some sort of agreement has been made to allow/force the Iraqi military to do/act as if we were in charge.
In other words, the 475 new "backdoor" personnel that Obama is sending to Iraq are almost certainly "Special Forces" who will create teams to locate, and obliterate, the ISIS opposition in Iraq.
All in all, today was the best news that I could have imagined.
A Real Change Is Underway In Iraq My Friends...Deleting the zeros is back in the news...Abadi wants the focus to be on Iraq and not himself...Abadi to make decision on Ministers outstanding next Tuesday...Abadi will reconsider the decisions and appointments made by Maliki in his last few days, including the 7 years sentence of Shabibi.