Newshound Guru Militia Man
Article: Different rumors have been circulating about Iraq’s currency. Some claim that Iraq will be trading outside of the dollar and instead use different currencies. This is expected to put them on a level playing field. In preparation for this change, Iraq has been working with international organizations such as the ITC, the World Bank, the Bank of International Settlements, the central banks of the world, and the Federal Reserve Bank. It’s important to note that this process is not as simple as pressing a button – it’s a complex process that requires extensive coordination and planning.
Newshound Guru Clare
Al-Basri announced that 22 people were arrested for currency speculation and corruption.
Intel Guru MarkZ
[via PDK] There is some interesting chatter going around this evening. According to various sources in the banking industry, they are anticipating receiving instructions soon regarding “Foreign Currency Exchanges”. This is the event that many people have been waiting for. I have heard this information from three different banking sources. Although nobody knows the exact date, they are expecting the instructions to arrive at any moment and are well-prepared for it. Banking professionals from the mid-level upwards are aware of this event and have made necessary preparations. In my opinion, this is great news.
Newshound Guru Pimpy
All of a sudden, all the efforts made in training, reforming and implementing new systems are starting to make sense, don’t you think? We have been hearing about the banks undergoing training and various reforms for a long time, but now we can see why. They are getting ready to be free and hopefully regain their sovereignty, which will allow them to trade and do business on an international level. This development is going to make a significant difference in the lives of the Iraqi people, as well as their currency.
Newshound Guru Walkingstick
As a reminder, we began with a Monetary Reform that led to a Revaluation, which is currently leading to a Redenomination that will ultimately result in an international currency float. At the point of float, the exchange rate of the Iraqi dinar will be determined by the supply and demand, which will decide the capped rate of the Revaluation.
Intel Guru Frank26
He smiled and said, “Well, I know quite a bit about it. It’s no secret in the banking world. The Iraqi dinar is about to reinstate”. He then went on to give me the rate, but I declined. James One asked for the rate but Frank intervened, saying that it’s not necessary to disclose the rate at this point. James One went on to say that the reinstatement of the Iraqi dinar has the potential to happen any day now but definitely before 2024. According to him, everything is in place, and there is a date set for its reinstatement. Although he didn’t reveal the date, he was very forthcoming and said that it’s no secret. He was confident about the rate, and being from a military background himself, he knows that when someone from the special ops says something, you don’t question it. Frank confirmed that the information provided by James One is reliable, and even though it’s still a rumor, he doesn’t doubt its authenticity. [Post 2 of 2]
Intel Guru Frank26
[Dinar Story] JAMES ONE: During a conversation, we met a confident gentleman who seemed to have everything under control. Although he mentioned his job, he chose not to reveal the name of the agency he worked for. According to Frank, the agency could be one of the top three agencies banks require to function. James One agreed with Frank and added that the gentleman, who was a former special ops, had retired and was currently working with a US agency that coordinates with all banks worldwide. After some small talk, the conversation shifted to the Iraqi dinar, and the gentleman was asked about his knowledge of it. [Post 1 of 2….stay tuned]
Newshound Guru Samson
Article: Iraq has received a loan of $257 million from JP Morgan to maintain its power facilities.
Intel Guru MarkZ
[via PDK] … I heard that they want everything completed and fully active by January and it could happen any day.
Guru Nader From The Mid East
Article quote: It has been stated that the governor of the Central Bank, Al-Alaq, has failed to control the rise in the dollar exchange rate. However, it is important to note that Alaq is not responsible for the current situation. He is working hard and doing his best, but it seems that the job is too big for him to handle. It is possible that he may be fired, but this is not certain. He may also improve and do a better job in the future. Regardless, there is no need to panic as this situation is not caused by Alaq.
Newshound Guru Militia Man
There are indications that Iraq is planning to go international with its currency. According to an article, the Central Bank is in talks with the US Federal Reserve Bank to ease restrictions on Iraqi banks and is working on practical solutions to make the Iraqi dinar more accessible globally. This should be a clear sign that they are planning to liberalize the dinar.
Intel Guru Frank26
[Iraq boots-on-the-ground report] FIREFLY: The United States is holding a meeting with Iraq to discuss ways to address the dollar crisis. JP Morgan has also joined in and announced that it will assist five Iraqi banks. This is a positive development that could help put an end to the black market issue. We believe that this could also be the beginning of the float. It seems that JP Morgan has changed its stance on the dinar investment, which it previously thought was a scam. Now, the bank is fully supporting the dinar monetary reform, as they are about to launch the currency internationally with the CBI.
Intel Guru yada
Review from the articles… Last week, the Prime Minister announced that banks in the country are now able to exchange foreign currency. The digital connections have been activated to collect tariffs and taxes from all border crossings since last Monday. On Sunday, the stock market showed a 3000 point drop in dinars. To me, the dollar to dinar value is adjusting to the actual reissued value of the dinar. In the past 10 days, 12 countries have done currency swaps with Iraq. Contracts that were previously agreed upon are being signed by countries coming into Iraq to do business. TOTAL is one of the largest companies involved along with the infrastructure contracts. All of these changes require a new reissued rate. In my opinion, they have gone as far as they can without changing the rate.
Intel Guru MarkZ
[via PDK] It has been reported that Iraq is planning to reduce its reliance on the US dollar and instead diversify its foreign currency baskets. This means that Iraq will hold foreign currencies, enabling them to conduct business within the Middle East without the use of the US dollar. The implications of this move are significant as it marks a shift towards de-dollarization. Iraq has set a deadline of January 1st to achieve de-dollarization, which means that their oil profits and other financial transactions will no longer go through the US system they currently use. This also means that they will need a fully functional, international currency. The article highlights an important development in the move towards de-dollarization, and we can infer that the revaluation of currencies may occur sooner than anticipated. Overall, the article provides valuable insights into the ongoing process of de-dollarization.
