DINARLAND UPDATE, 11 JULY

Sandy Ingram

The good news is the mainstream news media is saying the IQD is expected to increase in value as the country becomes more stable.

Frank26 (KTFA)

We are right on the edge of the cliff of the monetary reform, on our tiptoes leaning forward with our arms open, our head down waiting for a gust of wind to knock us over.  That’s how close we are.

Here’s one I get a kick out of, ‘Hey Frank what I belong to is tier 4.  What tier do you belong to?‘  The ones coming out of my eyes!  There are no 1, 2, 3 , 4 tiers.  It’s illegal.  It would be impossible…No.  There is no such thing as tier 1, 2, 3 and 4.  Everyone goes to the bank and exchanges and that’s it.  Nobody gets treated special…

Question:
“Will they be dropping the 3-zeros on a 25,000 dinar note?  I’m new to this and I keep hearing conflicting information. “

You’ll find 3-zeros in two places.  First of all in the exchange rate.  The exchange rate right now for the Iraqi dinar is .0008597 something like that.  When they move the decimal point to the right because they have added value to their currency…3 zeros it’ll be roughly about .86.  We can round that up to $1.  That’s where we’re looking for 1 to 1.

The other place you’ll find 3-zeros is in the currency itself.  It’s not like somebody’s gonna take a pair of scissors and cut where it says 25000 out of the physical currency.  Of course not.  They cut it out of the exchange rate. When they cut it out of the exchange rate it adds value to the currency so the 25000 dinar note outside of Iraq is at 1 to 1 or $25,000 note.   But inside of Iraq their exchange rate is what makes that valuable to whatever rate they have… 

Enorrste

JP Morgan [bank] is ready to leap into the fray…Their words are amazing, ‘Bring it into the world trade system’… They’re [Iraq’s] going to go from being a little regional area to being a world trader thanks to the efforts of JP Morgan signing this agreement with the Central Bank of Iraq.  They’re ready to role…You can’t do this in Article 14 of the IMF charter.  I suspect the IMF is behind all of this because they said to the biggest bank in the world JP Morgan get your ass over there and get this thing on the road.  I wouldn’t be surprised to see a change to Article VIII within months…

Getting out of Article 14 of the IMF charter  is essential for them to do what’s called international trading. 

Mountain Goat

There is not much more we can do but relax and let the reinstatement come to us. …we have not heard even an update on the project to delete the zeros. Normally Ali Al-Alaq is real good at giving periodic updates on this event. He has been back in the seat of CBI governor now for almost 6 months and still no word.I am told by my CBI contact that they are still working on it and plan to do it very soon.  This is all the news I can get on this topic.