MarkZ
[via PDK] In Iraq I have numerous reports from contacts on the ground that the CBI has released a video in the last couple of days showing Iraqis how to put their old currency into the ATM so they can deposit money. Which to me is a great sign. This will make any value change much easier to do it electronically.
Not much news overnight…but I do not take that as a bad thing...There are interesting things happening in Iraq. Things are definitely pointing to something sooner rather than later.
---
I do not think we will see the Iraqi dinar float. I believe they have been clear they want to retain value and peg it to assets. But, I could be wrong.
QUESTION : "ARE ALL CURRENCIES GOING TO FLOAT? TO MARKZ, 19 JUNE
MarkZ
Iraqi PM Sudani has announced on Iraqi RV that before the end of the holiday, which was this Wed. 19, June, that the Iraqi citizens will have their new exchange rate, access to new ATM's and the lower denominations.
Question: Are all currencies going to float? IQD, dong...etc…? MarkZ: I would not look for much of a float because we are supposed to peg to assets...
Comment: An intel guru...says Iraq is following Dr Shabibis plan to a T. MarkZ: They are. The plan was to increase the value, put lower denominations in circulation, and put the larger notes we hold in the banks for foreign reserves. Shabibi planned it all out and told us what would happen.
I do feel comfortable saying it has started…we are seeing movement…My understanding may be a little off as to how they are executing it...It’s been pretty quiet from Iraq sources over the weekend. They seem to finish things first over there and then tell us.....FOR READ MORE: https://dinarevaluation.blogspot.com/2024/06/question-are-all-currencies-going-to.html
No comments:
Post a Comment