Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
"Tamimi: the budget will be passed before the 15th of next month"
...the way I read it...2014 before October 15th...and 2015 will be sent directly after October 15th.
So 30 days to pass the 2014 budget.
I would like to see some timeline for the stalled laws as well.
"Economist: paper ten thousand dinars new regulatory action to prevent fraud"
This statement is not good..."the need to head the central bank to restructure the Iraqi currency and delete the zeros commensurate with the value of the dollar and raise the value of the Iraqi currency against the currencies of countries Jawarwalamlat the world."
When I read this it implies they want to redenominate (LOP) the notes equal (commensurate) to the dollar, then begin to raise the currency value against other countries.
[I have never been able to get my mind wrapped around the whole float theory, and now you come out with this?
I have always wondered, in relation to the float from 1166 theory, if the dinar floats from 1166, or 1 cent or 10 cents, what is to stop large wholesale investors, billionaires, and foreign countries from sucking up all the dinar at those low rates and sitting and waiting for it to get up to $3?
If that happens, NO one will be selling their dinar, the CBI will not be making money cashing in, the dinar will plummet further, the Iraqi economy will crash, and we will all be screwed. And now you throw this out there - a LOP!]
I am hoping they do what we were told they would do...which is a gradual appreciation.
It makes more sense and follows economic principles.
The good news is we should all know by the end of this year.
The recent articles are clear that opening the economy is the #1 priority and that requires opening the banking system and dinar to the world.
No other options.
I still believe the details provided by the IMF are the most accurate but these articles sometimes throw a curve ball that one cannot help wonder.
Remember...hundreds of articles...clearly state they want to raise the value of the dinar.
How that is accomplished seems less important.
THE BUDGET HAS BEEN REPORTED TO BE EXPECTED TO BE OPENED OCTOBER 1ST OF THIS YEAR. CBI HAS STATED THAT THEY WILL NOT WAIT FOR THE BUDGET TO MOVE FORWARD WITH THE ECONOMIC REFORMS AND MONETARY POLICY AND WILL USE THE INTERNATIONAL INVESTMENT FUNDS IN THE BANKS TO BEGIN WITH OR WITHOUT THE BUDGET IN PLACE.
THE ECONOMIC EXPERTS ARE ASKING CBI TO MOVE FORWARD NOW WITH THE RV.
THEY ARE ASKING FOR THE VALUE TO BE RAISED FOR THE COUNTRY AND...
...THE REDENOMINATION TO TAKE PLACE ALONG WITH THE SETTING OF THE RAISED VALUES FOR THE DINAR TO ALL INTERNATIONAL CURRENCIES.
THE CURRENCY IS ALREADY PREPARED BECAUSE IT HAS TURKI`S SIGNATURE ON IT --- SO IT IS READY OBVIOUSLY .
I DO THINK THEY HAVE A DATE SET FOR THE DINAR TO MOVE TO THE GLOBE -- A PLAN THIS LARGE WOULD NOT BE CREATED WITHOUT A DATE IMO -- WE JUST DONT KNOW WHAT IT IS YET.
LOOKS LIKE IRAQ FINALLY THINKS THEY ARE VERY CLOSE SO HOLD YOUR HATS.
My best guess is there is a more likely chance of seeing monetary change the eve of 10/7 -10/9.
The CBI will be closed for four days starting 10/4 (so counting Friday is 5 days).
October 8th is the start date of the UST fiscal year (although many will argue it's 10/1)...Because it is my belief the UST (exchange stabilization fund) would be supporting the RV event and the President can release the ESFunds without the Congress's approval, but the administration needs to give a full accounting within 6 months...That 6 month deadline accounting will be right before April 15th tax deadline for US citizens...also take into consideration that Iraq said they will start drafting the 2015 Budget 10/15...All in my opinion of course as being the strongest "window" for the event.
"The government program a valuable opportunity"
We don't have a timetable but having this program that "included all of the relevant requirements of the transition from a totalitarian to a market economy as a solution represent the challenges faced by our national economy" announced just barely into this brand new government is exciting to see.
This shows us the importance and the priority of this program.
Moving to a market economy includes a currency that is representative of true value and driven by the market.
This is great news for us and again, though we don't have a timeline, we see this is obviously a priority and this new government wants to distinguish itself as new and progressive. There is much optimism with this new government and with all the ally support against terrorism, we can see it's a new day in Iraq!
"The government program a valuable opportunity"
Abadi presented his economic plan, it met the approval of parl, it will launch them into a market economy... a strong economy not only helps the country but helps us as well...wow awesome start!
[what your quick take is on the 10k notes?
Maybe just a stop gap to keep large denoms on the street until not needed anymore in 4-6 months?]
Yes, I believe that they had to issue some to keep the country afloat in currency until the changeover.
There is also the security issue with the original notes.
We will get a float announced and then see the value rise over time.