Frank26 [Three corners of Arkansas, Oklahoma, Missouri Chase Bank Story] I just walked in. I didn’t at first tell them what was going on…I started saying I’m coming into some money, I made a couple investments that look like they’re going to pay off. He flat out asked, is this the dinar?…Yes…He stood up at that point and was like, I’ll be right back. He goes and gets the JP Morgan guy. FRANK: You are blessed. Not everyone is going to the banks with the JP Morgan reps. If you got one of those there they’ll talk to you. If not, they’ll still treat you like an idiot.
Paulette Sistani set…3/12/24 as the first day of Ramadan…Note, IMO, Kuwait Reinstated their currency during Ramadan in 1991…therefore, it appears that it very well can be possible to see Iraq change their currency structure during Ramadan.
MarkZ [via PDK] [Reference MarkZ posts 1 & 2, 3-11-24, below] If Iraqs rate comes out at .76…Wonder what VND rate will be? MarkZ: …that could mean…dong at .36 – .40 cents…we always thought the VND would be 3/4 of the value of the IQD. And I believe those rates are the worst case scenarios. So nobody panic. I still very much think that we could get up to $4 on the dinar…and closer to $2 on the dong…
Walkingstick [Iraqi bank friend Aki Update] They had a zoom meeting. It was with the CBI, all other banks and US Treasury, IMF, everybody, they were all in this zoom meeting. They told him a lot but the only important thing…was I was told once again, ‘We need you to be back at the bank because at anytime you are going to be very busy.’ Aki is just like you and I, sitting there waiting…
Frank26 The transitional period is what you’re experiencing right now…in the monetary reform.
Pimpy Does Iraq have the ability to be similar to what Kuwait has? Of course it does, but they got a long way to go…When I first started talking about the Iraqi dinar, I thought Iraq is going to be just like Kuwait. Until you actually start really digging into it and researching you find out they’re nothing alike…
Militia Man This is fascinating because this is coming from the Iraqi government today in the same context of Al-Sudani. Article quote: “The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320. Implementing such a decision is likely to significantly increase Al-Sudani’s popularity.” You think!? Bring the purchasing power of $0.76 – that’s what it equates to…deleting the zeros just like we’ve been talking about.
Frank26 Article: “Coordination Framework seeks early election to curb al-Sudani’s growing popularity: analysis” Quote: “The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars.” Now do you understand why they left it at 1320 even though we suggested that they would take it to 1200 or 1000?
Samson Article: “The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity”
Mnt Goat Article: “THE NEW IRAQI OIL LAW UNDERMINES THE DREAM OF KURDISH INDEPENDENCE” Quote: “On February 21, the Federal Supreme Court ruled that the Iraqi Kurdistan Regional Government must hand over “all oil and non-oil revenues” to Baghdad.” This is a solid start to getting the Oil and Gas Law completed and to parliament for a vote. This must be completed to finish a Constitutional requirement to fully implement the new 2005 Iraqi Constitution. This was told to me a decade ago that this is critical to normalizing Iraq. So this is all excellent news for us today… [DinarGuru NOTE: View the full ‘Possible To Do List’ in the left column of this page…]
MarkZ [via PDK] Comment: …contacts in Iraq…think it will go between the 10th to the 24th of March. MarkZ: That’s the general consensus amongst my Iraqi contacts as well…. We will see how it plays out.
MarkZ [via PDK] Comment: I think .76 cents is a sucker rate. MarkZ: I also believe .76 cents would be a sucker rate. Comment: Maybe .76 cents prepares the forex market for what is to come. So $3.50 to $4.25 won’t surprise them? MarkZ: I agree and it also prepares the people for a different rate. This big a change needs to be prepared for.
