Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
YOU DON'T NEED TO CALL AN 800 NUMBER TO DEAL WITH WF [WELLS FARGO] BOA [BANK OF AMERICA] OR ANY OF THE OTHERS.
JUST CALL YOUR LOCAL BANK OR DINAR DEALER AND SCHEDULE AN APPOINTMENT.
THAT'S HOW EASY IT IS...I HAVE SPOKEN TO THE VP OF INTERNATIONAL BANKING WF AND THEY HAVE NOT EVEN HEARD OF A CONTRACT 800 RATE OR NUMBER AND I HAVE TALKED TO HOMELAND SECURITY AND THEY HAVE TOLD ME THIS AND I QUOTE "ANYONE THAT IS THINKING ABOUT DEALING WITH AN OUTSIDE SOURCE TO EXCHANGE ANY CURRENCY MUST DEAL WITH A LICENSED VENDOR OR BE IN VIOLATION OF THE UST GUIDELINES".
THINK IT OVER, BEFORE YOU GO DOWN THAT PATH.
[So,when now are we thinking this MIGHT happen?]
I GOT YESTERDAY THAT THEY HAVE NOW THE LAST MINISTER IN PLACE...SO ANY TIME WHAT I WAS TOLD.
CALL...FROM GREENZONE BUILDING SAYING THEY EXPECT ABADI TO FINIISH MINISTERS TOMORROW [THURSDAY] AND SEVERAL OTHER VOTES TO TAKE PLACE.
ALL SOUNDING GREAT ON THE STREETS...THERE NO ISIS WITHIN 50 MILES OF BAGDAD AND NEVER HAVE BEEN.
[your sources say anything else?]
THEY STILL SAYING WHEN LAWS ARE COMPLETED AND IMPLEMENTED THEY EXPECT THE RATE ANNOUNCEMENT ASAP AFTERWORDS.
[what laws are we looking for besides HCL?]
MANY BANKING LAWS INCLUDING THE INTERNATIONAL BANKING LAWS THAT HAVE TO BE DONE FOR THEM TO BECOME FULL MEMBERS OF THE WTO. ALL THESE LAWS WERE YESTERDAY SAID TO HAVE BEEN PLACED IN ONE BASKET FOR VOTE SO THEY ALL WILL BE PASSED AT ONE VOTE.
"Erbil and Baghdad Close to Oil Agreement"
I would not go so far to say HCL is about to be done.
HCL is much more than just how to export Kurdistan oil.
None the less, a good step.
"Finance parliamentary likely to issue a new edition class (50) thousand dinars"
...if they issued physical 50k or 100k notes it is not good not only for us as dinar investors, but for Iraq's own economy.
That is not what they are going to do.
It contradicts everything Iraq needs to do for a transition to a market economy and more importantly integration of the banking system with the world economy.
That is why they won't.
What they will do is raise the value of the dinar (nominal exchange rate) and introduce notes that gives one "the feeling" of purchasing power equal to issuing a 50k or 100k note.
In other words, they are trying to raise the value as so often stated at or near 1 to $1.
[when the GOI printed their post Saddam dinar (the currency that we all here are holding) was it THEIR game plan to RV or was that the thought that we investors had dreamed up? I remember when George W. made the announcement that the U.S. was going to invade, he did say that this invasion would not cost the U.S. taxpayer anything. So, I thought that (when I first invested in the IQD) that it was the U.S.'s intent to have a lot of these new Dinar to cover the price of the invasion. If so, WHAT WENT WRONG? And is that where we are now?]
I don't necessarily think anything went "wrong", it's just taken a while to get everything in place. We've seen the IQD more than double in value since 2003, we've seen Iraqis form a government, we've seen the Iraqi people voting (remember the first time we saw the purple ink on the fingers of voters?), we've seen a LOT of progress... and we continue to see that.
There was no way the IQD could have gone up dramatically and been stable any time before 2010... but the progress they've made is undeniable, and if it's going to happen - we are close.
[...are you still leaning toward a 10cent revaluation or has it moved up or down ...?]
I"m sticking with .10 for now... if I'm wrong and it's higher, I don't think anyone will be mad at me. : )
Comments to share from my Kurdish friend (As always please treat as rumor): My guy mentioned...this article which actually is a rehashed article BUT has some real muster behind it BECAUSE the NEW 10K note is already being integrated/exchanged and the other (NEW) 5k , 25K and MOST IMPORTANTLY the NEW 50K is COMING!!! These new notes( I'm told) are in final process of production and will be integrated/exchanged during the last quarter of this year. This has two VERY IMPORTANT IMPLICATIONS : 1) Cutting off ISIS from obtaining the new notes and not able to mass produce counterfeit ones and 2) THIS SHOULD PUT TO REST (for the next two quarters) THAT THERE WILL BE NO RV/RI/RD.
So... the introduction of these into the marketplace IS/WILL BE PROOF POSITIVE of the GOI and CBI's monetary policy for the time being (next 6 months at a minimum). To reiterate my contact indicates that the Finance Committee and the ABADI administration will NOT entertain any other discussions regarding such till sometime toward the end of the first quarter of 2015 and the BIG IF of that timeline IS/WILL BE the handling of the country's security situation. THIS IS HUGE!
[u think iraq will pull things together this month or not?]
I'm sticking to 10/7 - 10/9 to see the change in currency rate...Quite frankly I have around 8 solid items that favor this timeline as being best window.
regarding remaining ministers, I think agreement will be had soon and agree on vitality of having them seating to move forward on fighting terrorism and moving forward on monetary policy change and to have agreement amongst the parties is key, non-sectarian...equally representative.
I'm excited to see new notes being updated too again, fighting corruption...making it harder for terrorists to use and exchange imo.
[think all those security things being done is the prelude for the LD's to show.]
totally agree, part of three zeros plan... LD's will be useless without a strong rate.