Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
As long as they continue with daily currency auctions it is unlikely their is a reduction of notes at this time (especially since they reprinting replacement notes).
Remember, the auctions job is first and foremost to stabilize the exchange rate which is accomplished by creating a "balance" of dinar to dollar in the marketplace.
Removing dinar from circulation would cause a demand on dinar and effect the exchange rate.
IMO, a reduction of notes will come as a result of the process once they begin...which is months off at best since laws are not in place to support the economy/banking sector.
[Any hunches on what the "urgent message" would be that would require Al-Abadi to leave Baghdad to go to UN to meet Obama? Seems a secure video conference would suffice for any "message" (seems an odd time to remove him from Baghdad will all that is going on?)]
it all seems (at least reported) to be related to military efforts.
UNSC wanted to get these leaders all together to deal with ISIL. That is a pretty signifcant issue.
What Obama wants to say to Abadi, no idea.
...important are dates between 9/27 -9/30 to see if Parliament proceeds with reading laws and voting...I am stuck on 10/7 -10/9 to see some changes...time will tell...This currency IQD was devalued because of locking Iraq down purposes and war...It will be re-introduced for the same reasons "security purposes"...and the locking down the IQD will be reversed.
Can not confirm but signs are there were a huge number of laws being voted on last night (today)...There was a host of corporate representatives in Erbil yesterday supporting investments in Kurdistan through the IBBC...Shaways the newly elected Finance Minister is very active with the IBBC and Ahmed who is the General Secretary Council of Ministers is also an active participant...Just figure that the latest group visting Erbil for investments indicates laws being enacted that would make these corporations feel comfortable furthering their investments.
[First vote on amendments to this investment law of 2006 is on the agenda tomorrow (Wednesday) in parliament.]
IT IS REPORTED TO BE IN A BASKET THAT INCLUDES ALL CHANGES FOR INVESTMENT AND ALL LAWS TO MOVE FORWARD IN THE MARKET...
[if it passes, does this mean we could RV later this week?]
THESE LAWS ARE FOR THE INVESTORS WHICH WILL REQUIRE A REALITY RATE DUE TO THE GLOBAL MARKET.
WE DONT HAVE A TIME OR DATE BUT THEY ARE WORKING TOWARD THE ECONOMIC REFORM IN ALL REPORTS WE HAVE SEEN LATELY AND THAT INVOLVES THE DINAR TO BE SET FOR TRADE.
THURSDAY IS TO BE MINISTERS BY WHAT I HAVE SEEN.
BUDGET TO VOTE IN A COUPLE DAYS, AS IN TWO, ACCORDING TO REPORTS...ADJUSTMENTS HAVE BEEN DONE AND NOW THEY ARE PREPARED TO SEND IT FOR VOTE.
THEY HAVE UNTIL SATURDAY TO VOTE IT THROUGH TO HAVE IT DONE AND IN LAW.
THEY ARE WORKING FASTER THAN WE HAVE EVER SEEN.
THEY ARE PREPARING THE ISLAMIC BANKS TO INTERNATIONAL COMPLIANCE TO PREPARE FOR THE DEVELOPMENT.
THIS IS THE MOVE TO ALIGN THE BANKS TO THE INTERNATIONAL BANKING SYSTEM.
THIS OF COURSE WILL ALSO EFFECT THE MARKET AND THEY ARE ALIGNING ELECTRONICALLY WITH ALL THE BANKS THEY HAVE IN ALL 57 COUNTRIES AND THE BANKS THEY ARE IN BUSINESS WITH.
THEY ARE SAYING...THAT CBI NEEDS TO BE PREPARED BECAUSE IRAQ IS MOVING TO ITS DEVELOPMENT ECONOMICALLY WITH THEIR BANKING REFORM...GREAT NEWS.
You might not believe this at first, and you probably need to sit down before you read this next sentence...Parliament actually moved a date UP for possibly the first time in recorded history!
Even crazier than that groundbreaking, record setting, earth shattering news is this... THEY ACTUALLY DID IT! But wait, it gets better!
On the table today or tomorrow is the Budget, which is always a big pain in the neck... but...they are talking about a paltry increase (from 17% to 20%) in funds to Kurdistan. Let me piece that together real quick:
Kurdish OIL profits are currently bypassing Baghdad, which is a pretty forcing move by the KRG.
I've been saying for a while now that Baghdad is going to have to start playing nice, and with Maliki out of the throne and a more cooperative Abadi at the helm... it's looking more and more like Iraq is going to become significantly more unified, and we have front row seats.
The next obvious step after the budget is the HCL, and of course - no question in my mind AT ALL - once the HCL is done, we WILL see the dinar going UP! The bottom line right now is this - We're seeing a lot of major changes in Iraq.
Abadi has a lot of work to do to clean up all of Maliki's mess, but when the Iraqi Parliament acts faster than expected... things are heating up, and in a GOOD way!
[When do you think the HCL will be all cleared up?]
...it really looks like they are moving dates up, and we could see it very .... (cringe)... *soon*.
[If and after this HCL passes and there is no RV, THEN where are we?]
Here's my opinion...The most important things for Iraq, the things that NEEDED to happen before an RV, were always these:
1. Seated GOI (99% DONE, and even better - we definitely have a better GOI than ever before!)
2. Chapter 7 released (DONE.)
3. HCL (SO CLOSE!).
3 things...that's all I wanted. Right now we have 2 down, one to go... and that last one is perched on the edge, about to fall onto the scorecard as a WIN.
I STILL DON’T THINK THEY WILL CHANGE THE RATE TILL THE BASKET OF FINANCIAL LAWS ARE PASSED SO THEY CAN COMPLETE THE WTO PROCESS OF ACCEPTANCE.
THAT BASKET IS IN PARLIAMENT AND READY FOR VOTE FROM ALL INFORMATION IN INK . UNKNOWN WHY THEY HAVE NOT BEEN VOTED ON YET BUT THEY ARE EXPECTED AT ANYTIME EVERY MEETING. SOME DON'T THINK THE BANKING LAWS HAVE MUCH BEARING ON THE RV.
I ...HAVE BEEN TOLD THEY HAVE TO FINISH THE LAW TO BE ABLE TO COMPLETE THE APPLICATION TO THE WTO.
I DO THINK THEY CAN RV WITHOUT THESE BUT BEFORE WE CAN CASH OUT THAT APPLICATION MUST BE COMPLETED TIME WILL TELL.
EVEN WITH THESE VERY FEW THINGS LEFT THAT POSSIBLY COULD EFFECT OUR BLESSING ALL SIGNS AND I MEAN ALL POINT THAT WE ARE CLOSER THAN EVER AND WE NOW HAVE A PM THAT IS PUSHING WITH ALL HE IS WORTH...HE HAS HAD THEM WORK THROUGH HOLY DAYS AND EVERY BREAK THEY HAVE TRIED TO TAKE HE HAS CANCELED AND ORDERED THEM TO MEET AND WORK. I DON'T SEE THEM BEING ABLE TO TAKE A BREAK TILL HIS GOI IS SEATED AND THE ENTIRE AGENDA COMPLETED LIKE THE HCL, BUDGET, MINISTERS, AND LAWS ARE ALL VOTED ON AND WE KNOW THEIR TARGET IS OCT 1 AT THIS TIME. THIS IS AWESOME AND ABSOLUTELY 180* OPPOSITE MALIKI.