BGG (Dinar Updates)
...a friend calls me this week...has a couple of questions for me to answer. How can Iraq, if they have 25 Trillion Dinar outstanding - ever RV at a $3 dollar rate and pay for it? Isn't that like 75 Trillion Dollars? First, we have NO IDEA what the real outstanding number is - OUTSIDE OF IRAQ. That is the key number...there is NO RELIABLE INFO on this... even the CBI's internal people can only estimate... and they don't think it is that much. Could be as low as 3 Trillion - maybe less now...So - the real lesson is not to base complex analysis on wide gaps in actual information. The 25 Trillion number is likely a flawed assumption... AND if they get "international support and acceptance" - that 3-6 Trillion could even get held in various Treasuries as "Foreign currency reserves" - JUST LIKE IRAQ CURRENCY DOES FOR OTHERS.
...the only reason they have to worry about what is outside of Iraq is they might have to redeem it in some way. Both the CBI has been sensitive to this issue for some time... and the IMF - UN - WB has had an eye on it as well...the Dinar that is INSIDE Iraq is still going to be worth a Dinar. Nothing changes on that front - they just get more for it. It's not costing the CBI a DIME!! ...a Dinar is still worth a Dinar - post RV. Iraqis are not going to be POURING INTO BANKS to exchange their Dinar for some other foreign currency... why would they?
Second half of the answer...Who - in Iraq ever said anything DIRECTLY about $3? ...all of the foundational documents we have uncovered and are using as our basis research seem to indicate something around $1...SIGR report...Iraq MOP studies...recent interviews with CBI Officials...I haven't verified $3 ONE TIME - NOT ONCE...in fact, it seems clear they intend to get to $1 - but how exactly they intend to do that - we are not sure of... NOR CAN WE BE. Relax and enjoy the show - YOU'VE GOT A TICKET TO RIDE!
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Aggiedad77 (KTFA)
...the only reason they have to worry about what is outside of Iraq is they might have to redeem it in some way. Both the CBI has been sensitive to this issue for some time... and the IMF - UN - WB has had an eye on it as well...the Dinar that is INSIDE Iraq is still going to be worth a Dinar. Nothing changes on that front - they just get more for it. It's not costing the CBI a DIME!! ...a Dinar is still worth a Dinar - post RV. Iraqis are not going to be POURING INTO BANKS to exchange their Dinar for some other foreign currency... why would they?
Second half of the answer...Who - in Iraq ever said anything DIRECTLY about $3? ...all of the foundational documents we have uncovered and are using as our basis research seem to indicate something around $1...SIGR report...Iraq MOP studies...recent interviews with CBI Officials...I haven't verified $3 ONE TIME - NOT ONCE...in fact, it seems clear they intend to get to $1 - but how exactly they intend to do that - we are not sure of... NOR CAN WE BE. Relax and enjoy the show - YOU'VE GOT A TICKET TO RIDE!
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Aggiedad77 (KTFA)
Article:
"Achieving the objectives of monetary policy requirements until the year 2020"
Quote:
"...and install the Iraqi dinar exchange rate against the dollar are preparing to be necessary and appropriate, as the window of foreign currency held by the central positive role in maintaining an appropriate level of the exchange rate and install it..."
Keep this thought in mind...if this is in print...it's already done...already implemented... IMO.
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Mountain Goat
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Mountain Goat
Article:
"Iraqi troops declare full liberation of Mesherfa region, western Mosul."
That leaves only 2 regions left. Remember the article last week stating that three regions only remained to be liberated. Let’s see what the coming days will bring. Just in as I write this... "...joint operations officially announce that Counter-Terrorism units have stormed Wadi Akab industrial district in western Mosul."
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tman23 (Dinar Updates)
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tman23 (Dinar Updates)
Quote:
"On the prospects of floating the Iraqi dinar like other countries in the region, said the relationship is not on the current situation, and we are working on the liberalization of the process and not float, and the difference between the big"
INTERESTING STATEMENT! Liberalization (defined): the removal or loosening of restrictions on something... " AND NOT FLOAT...AND THE DIFFERENCE BETWEEN THE BIG!" So what is the BIG? The 3 zero notes being the BIG? I would not float the currency either IF the 3 zero notes were going to be of value that includes the "zeros"...A one cent increase if floated is 25,000 pennies or $250 on a 25k note...Now I read some say...I will hold onto the currency as it increases in value, yet the CBI governor is saying no float...so then how does it increase?
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RayRen98 (TNT)
RayRen98 (TNT)
We did look for activity to come out over the weekend, which didn’t happen, but the timing was just a tad off. Over the weekend, we saw articles from Iraqi military leaders saying Da’esh is finished and Mosul is completely liberated, with no more major elements to deal with. On Iraqi television, and reported to me separately, is that effective from four hours ago LIBERATION IS COMPLETE. That would be cake for us! The icing on that cake, it says that Abadi and Sadr have been meeting privately, plus the CBI governor and finance minister, all meeting together in a celebratory and triumphant mood. If it were just about liberating Mosul, why would the governor and finance minister be there? All four were together, signaling triumph... Very interesting indeed. Also, there is expectation that our president will be visiting Iraq in a week or so – put all that together, and...
[What is your anticipation about WHEN this will pop?]
[What is your anticipation about WHEN this will pop?]
They have been saying that as soon as Mosul is liberated, the rest will happen. The prices have been dropping… it all adds together. Sure, Mosul was a good scapegoat for them, for other things they had to do. That has now gone, and this is what they promised their people, so seeing them on television says that they are going ahead with economic reforms, changing the currency, etc. These are interesting times and I can’t wait to hear what happens next, in the next few minutes, hours, or days. If this isn’t the week, I don’t know what week would be better.
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tman23 (Dinar Updates)
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tman23 (Dinar Updates)
...Revaluation (Definition): A calculated adjustment to a country's official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country's government (i.e. central bank) can alter the official value of the currency. Re-denomination has nothing to do with Re-valuation. When a currency is redenominated the central bank of that country will reissue notes at a decided ratio for both speculators and its citizens. For ex., If you have a 1000 INR note and Reserve Bank of India (RBI) redenominated at a ratio 1:10 then RBI will take your old 1000 INR note and issue you new 100 INR whose value stays the same. The net value of old 1000 INR will be same as new 100 INR.
The old notes are given certain time period for exchange and then destroyed once they are returned to RBI. Note that, the purchasing power remains the same throughout the transaction except you are getting new notes for old notes. Differences between Re-denomination & Re-valuation: For re-denomination, All the old notes must be replaced with new notes. This is not needed for a re-valuation. Re-denomination does not change the net value (Purchasing Power) while Revaluation does that. Bank should announce in advance for a decision of Re-denomination while banks will never announce in advance for Revaluation.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
The old notes are given certain time period for exchange and then destroyed once they are returned to RBI. Note that, the purchasing power remains the same throughout the transaction except you are getting new notes for old notes. Differences between Re-denomination & Re-valuation: For re-denomination, All the old notes must be replaced with new notes. This is not needed for a re-valuation. Re-denomination does not change the net value (Purchasing Power) while Revaluation does that. Bank should announce in advance for a decision of Re-denomination while banks will never announce in advance for Revaluation.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru