"RV UPDATE" BY PIMPY, 1 MARCH

 Pimpy 

 Question: "How is the development road project going to be funded at 1310?" 

 The development road  project is not the world's largest project.  It's not even in the top 20.  But it is a very expensive project...Pay close  attention... Article quote "This year's budget is Iraq's largest at 198.9 trillion Iraqi dinars, about $153 billion based on the  exchange rate. 

 The 2024 and 2025 budgets will be the same unless the cabinet requests any changes and parliament approves them."   This budget has already calculated...What did it say in the article?  'With the current exchange rate.  And what is the current  exchange rate?  1310 dinars per dollar.

  There's no doubt this [Development Road Project] is going to turn Iraq into a transit center .  There's going to be a lot of traffic going through there.  [But] Article quote: "Iraq has postponed the launch of its $7 billion development road project to early 2025..."  Hello, remember, don't count your chickens before they hatch.  We are talking about Iraq.  This happens quite often.

  Community Comment:  "Thanks for the let down once more that Iraq will never RV."  I never said it would never RV.  Never.  In fact I'm the one that said it's going to go up in increments.

Question: "There have been some references...regarding some Iraqi banks in the US, have you heard  about any of thee banks on US soil?"  Here you go:  You have the Iraq National Bank that's in New York. Rasheed Bank that's in New  York.   North Bank  that's Dearborn Michigan, The Bank of Baghdad is in New York City, TBI Bank which is in Washington DC.  These are  the Iraqi banks that are currently in the US...    

Community Comment: "IMO I think a $1.28 would be a sweet spot for the RV and then go up from there."  $1.28 would be pretty nice if we can get it but IMO if they want to make sure not to really crash their economy they're going to have to go up in smaller increments...I know you guys don't like to hear that and it makes me the bad guy.  You might see it go somewhere from...1310 for every dollar...to around 1,100 dinars for every dollar or maybe even 1,000 dinars for every dollar, then from there down to like 700s...small increments.

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-pimpy-23-feb.html

 Community Comment: "Once the 3 zeros are deleted, establishing IQD's REER, then the rate will go up in increments."   That's not what you want.  You do not want them to delete the zeros before the rate goes up.  If they delete the three zeros off your currency then your 25,000 dinar becomes a 25 dinar and then they raise the rate?  That's not going to help you.  We'll see what happens.

 If you're going to exchange your Iraqi dinar, let's just say for the sake of this particular example...3 to 1, congratulations you now got millions of dollars.  So you go and you swap your currency and they're saying, 'Hey, you got $3 million in your account.'  Yah!   You can't say to them I want $3 million dollars because the bank doesn't carry money like that no more. They might say...we are going to allow you to carry out $5,000 for today cash but we're going to have to set an appointment with you to come pick up the rest of the cash...If they have to order currency for you, they're going to charge you a fee because they have to pay a fee...

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-pimpy-21-feb.html

Iraqi Dinar | WTO Confirm IQD Revaluation And New Exchange Rate | Iraqi ...

Iraq has completed requirements to join WTO: Minister, 1 MARCH

 Iraq has completed requirements to join WTO: Minister

ABU DHABI, 27th February, 2024 (WAM) — Atheer Daoud Al Ghurairi, Minister of Commerce of Iraq, has confirmed that Iraq has completed the requirements to join the World Trade Organisation (WTO) after completing economic reforms and improving the business environment.

In statements to the Emirates News Agency (WAM) on the sidelines of his participation the 13th Ministerial Conference of the WTO, Al Ghurairi pointed out that the trade in goods and services files have been finalised according to the set schedules for integration into the global trade system.

Al Ghurairi said that the interest of the Iraqi government in joining the WTO after Iraq submitted a request to join in 2004, in the belief that it is important to be part of the multilateral world trade system and for Iraq to return to an influential position in the global economy. He pointed out that there will be a meeting at the level of Arab countries to learn about their experiences before joining the organisation and ways to benefit from its advantages.

The Iraqi Minister of Commerce stressed the importance of the events of the conference held in Abu Dhabi, which is witnessing a successful organisation by the UAE. He stated the conference sends an important message to all countries of the world about the importance of joining this organisation, in addition to its role in discussing the future of the global trade movement according to current challenges.

Al Ghurairi mentioned Iraq’s plans to enhance economic and trade ties globally, aiming to establish new avenues for cooperation in these sectors.

https://www.bignewsnetwork.com/news/274139292/iraq-has-completed-requirements-to-join-wto-minister

"1 IQD = 1 IQD" BY HARLEQUINC3, 1 MARCH

 Harlequinc3  

Over the years, there's been many articles about the old currency retaining its 'nominal  value' -- the denomination remains the same, a 25,000 dinar note remains 25,000 one dinars. And the new 25 denomination remains 25  one dinars.

 1 dinar = 1 dinar. Denomination value just means 'name' not exchange rate. The confusion arises from people thinking  'value' means exchange rate, when it's just talking about the nominal value -- the 'named' value of the dinar, which in this  example is a '25,000 dinar' note -- that's its name, not its exchange rate.

 To an Iraqi, an exchange rate of pounds sterling to dinar is meaningless. 1 dinar is just 1  dinar. But what does that 1 dinar buy? That's what matters to an Iraqi...IMO, the latest article is explaining, the named value of  both notes don't change (it doesn't affect the 'nominal value.')

 It answers the question about a lop of the old dinar, explaining  you will exchange 25,000 old dinar for 25,000 new dinar (electronically) at a 1:1 value -- the named value remains the same. Of  course, for people outside Iraq they will be exchanging 25,000 dinar for their home country's national currency of 25,000 dinar at  an approved exchange rate.  

$25,000 US Dollars Equals to 25,000 Iraqi Dinar Get Ready RV Approved On...

Iraq concludes its discussions with the International Monetary Fund expert mission in Amman, 1 MARCH

Iraq concludes its discussions with the International Monetary Fund expert mission in Amman

Mawazine News – Baghdad
The Iraqi delegation, headed by Finance Minister Taif Sami, concluded today, Thursday, its discussions with the Article IV mission of International Monetary Fund experts in Amman, while the mission confirmed its continued support for the government’s reform steps.
The Ministry of Finance stated in a statement received by Mawazine News, that “during the discussions, the implementation of the economic reform program and the improvements achieved by the Iraqi government in the field of development infrastructure, financial sustainability, and maximizing non-oil revenues were reviewed.”

The Iraqi delegation confirmed, according to the statement, that “the Fund promised to support development programs to advance public financial management, digital transformation, banking, retirement, and customs sectors, and to enhance private sector participation efforts through investment incentives, infrastructure, and reconstruction,” indicating “its intention to continue discussions and consultations during the Fund’s periodic annual meetings.” “.

The Fund’s mission praised “the achievement of good progress in many financial and monetary aspects and in the areas of transparency, control, provision of financial statements and rationalization of expenditures, in addition to the strong return of growth in the non-oil sector during 2023 with a noticeable decline in inflation rates, and this is reflected in the decline in food and energy prices.” .

The mission noted “the positive developments in the return of trade financing operations to their normal path and the stability of the foreign exchange market following the implementation of anti-money laundering and counter-terrorism financing controls on cross-border payments,” welcoming “government plans aimed at strengthening public financial management, including welcoming “With the steps taken by the government towards establishing a unified treasury account, improving cash flow management and increasing the tax base, as well as reviewing the customs tariff structure and achieving more targeting in social support and care.”

The mission also expressed its optimism about “the level of understanding and progress achieved with the Iraqi government and the coordination steps and joint consultations that will be completed in the near term that will contribute to addressing the financial problems imposed by the circumstances of international conflicts and their accompanying economic impacts,” explaining that “purposeful structural reforms are continuing to stimulate economic diversification.” “Creating job opportunities led by the private sector is a pivotal factor in achieving sustainable and inclusive growth.”

According to the statement, priorities at this level include creating equal opportunities for the private sector by implementing reforms in banking and the electricity sector, reducing distortions in the labor market, and continuing to make efforts to strengthen governance and limit the spread of corruption.

It is noteworthy that Article IV consultations are bilateral meetings held annually between the International Monetary Fund and member states, after which a team of Fund experts meets the member country and conducts formal consultations with its officials.

https://www.mawazin.net/Details.aspx?jimare=242967

"RV UPDATE" BY BRUCE, 1 MARCH

 Bruce   

[via WiserNow]  ...we could get our notifications Thursday, which is the 29th of February...start exchange on first of March, which is Friday... Everything is moving in the right direction...So let's see what happens guys. 

[via WiserNow]  This is a non taxable event.  These exchanges that we're doing...they're not taxable  to you...It was designed to be tax free.  [Dinar Guru Note:  Some gurus feel the dinar is non-taxable, others feel capital gains and still other feel it will be taxed as ordinary income.  The only opinion that matters in the end is the IRS's.  At the appropriate time consult your tax advisors to determine the correct tax for your unique circumstances.]

 Prime minister of Iraq met with our President Trump for a couple of hours in an undisclosed location on Sunday afternoon and they were discussing the fact when Prime Minister, Sudani of Iraq was going to fly back to Iraq that afternoon...he was going to announce to the entire country of Iraq they were indeed a sovereign nation and had a  sovereign currency -  once that occurred...we would have simultaneous announcement here...

not quite sure who was going make it but was to be made to banks and to our redemption centers, and other institutions - with other officials dealing with currency exchanges...  once those announcements were made, we felt like we were good to go and get ready to get started...

 ...we haven't started yet. But we know that we've checked with certain banks...like Chase and Wells have the dinar, for example is one of our currencies on the front screens of the banks and ...they're rising in value.

 But there the last time we checked, the bank screens rates were flashing - ...when it's flashing on and off...it means that it's not quite ready...to be exchanged...So we're waiting according to the latest information that we have from redemption centers and banks, that they're waiting for the green light to come in the form of an email from Wells Fargo, corporate New York...When that email comes in to the redemption centers, they will know that it's time to go it's time to start...we're close.

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-bruce-23-feb.html

WOW IRAQ'S Minister of Trade Decides Iraqi Dinar international RV tomorr...

Barzani discusses in Washington the importance of ensuring the region’s share of the budget and protecting its security, 29 FEB

  Barzani discusses in Washington the importance of ensuring the region’s share of the budget and protecting its security

The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, discussed in Washington, today, Wednesday (February 28, 2024), with a member of the Foreign Relations Committee in the US Senate, Senator Tammy Duckworth, the controversial issues between Baghdad and Erbil.

The regional government said in a statement received by “Baghdad Today” that Barzani “during the meeting briefly touched on the general situation in Iraq, and the importance of resolving the controversial issues between the Kurdistan region and the federal government, in a way that guarantees the region’s financial rights, secures its share of the budget, protects its security and stability, and preserves the region’s financial rights.” rights of all its components.

Senator Tammy Duckworth, according to the statement, renewed her support for the Kurdistan region, and also stressed that she will make every effort to protect the Kurdistan region and address the controversial issues between the region and the federal government.

It is noteworthy that Barzani has been continuing for days during his ongoing visit in Washington a series of meetings and meetings with officials in the American government and members of the Senate and Congress, and his discussions focus on bilateral relations between the region and the American side and discussing the outstanding issues between Kurdistan and Baghdad.   link

"RV UPDATE" BY MARKZ, 29 FEB

  MarkZ  

 [via PDK]  Question:  Mark what do you think of the rumor it could happen tomorrow? 

 MarkZ:  I’m going to leave it as rumor for now. But it could happen in 3 minutes…or 2 days…we just don’t know the timing. But rumors are non-stop running hard.

  [via PDK]  

Now over the weekend - this is where it gets fun…There was a lot of conversation and many stories about needing to have a committee for “repricing”... 

Why do they need to reprice? 

 Maybe they are getting ready to change the value of the dinar? This is HUGE . And they were very up front over the weekend on “Removing the zeros” and this process provides more purchasing power…they call this the “mechanism to delete the zeros”  This process requires increasing purchasing power when deleting the zeros…this was a huge weekend... As they increase their value they need to update their bills including the lower denominations 

 One of the articles I like the most from Iraq: “ITC hosts Iraq National trade forum” With support from Iraq’s national Trade center and the government, and a joint agency of the UN and the World Trade Organization. The entire goal of this is to foster International trade, and import and export opportunities in business on the international stage.

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-markz-27-feb.html

Dinar RV Breaking News🔥Iraq's WTO Membership: Catalyst for Revaluation?💣...

A new step by the government to attract foreign investments, 29 feb

  A new step by the government to attract foreign investments

Deputy Prime Minister and Minister of Oil, Hayyan Abdul-Ghani Al-Sawad, revealed today, Wednesday (February 28, 2024), the government’s intention to amend the investment law to facilitate the work of companies that wish to enter Iraq.

Al-Sawad said during an interview with “Baghdad Today” that “the government is determined to amend the investment law in Iraq, in a way that ensures the process of attracting companies,” indicating that “there are some observations on the current investment law, and accordingly we proceeded to propose some amendments, and they will be studied to proceed with drafting the amendments.” necessary from the government in preparation for sending the amendments to Parliament for passage.”

The Deputy Prime Minister stated, “Investment in the refinery sector is our most important priority in the Ministry of Oil, and therefore the government seeks to develop all aspects of the country, and one of the most important ways of development is to work to find an investment law that will be attractive to companies to work in Iraq.”

According to specialists in economic affairs, the country’s investment law is one of the best laws that can attract capital and international companies, in addition to being appropriate to the economic reality.

They stressed that the advantages provided by the law were not optimally exploited to bring about broad development or reconstruction moves, and the provisions of the laws were not widely exploited except in the oil field,  pointing out that legal legislation alone is not sufficient for the inflow of investment capital into the country.  link

"IRAQ BANKING ANNOUNCEMENT: "WE ARE ON THE VERGE OF WITNESSING THEM MOVE INTO A GLOBAL IMPLEMENTATION STAGE OF THE IQD" BY GOLDILOCKS

GOLDILOCKS

“It will be influential.” Iraq completes its preparations to join the World Trade Organization » Baghdad Al-Youm News Agency

https://baghdadtoday.news/243640-%D8%B3%D9%8A%D9%83%D9%88%D9%86-%D9%85%D8%A4%D8%AB%D8%B1%D8%A7%D9%8B.-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D9%86%D9%87%D9%8A-%D8%A7%D8%B3%D8%AA%D8%B9%D8%AF%D8%A7%D8%AF%D8%AA%D9%87-%D9%84%D9%84%D8%A7%D9%86%D8%B6%D9%85%D8%A7%D9%85-%D8%A7%D9%84%D9%89-%D9%85%D9%86%D8%B8%D9%85%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9.html

-----

Goldilocks Highlights ™ 🌱🧂, [Jan 29, 2024 at 1:35 PM]

Iraq Banking Announcement:

"The Central Bank of Iraq has decided to restore the mechanism of financing Iraq’s foreign trade, starting next March." 

Look what we have here. Iraq is planning to move forward with financing their foreign trade mechanism. 

March 1st, 2024 is the day they expect to begin this process. They are telling their banks that they expect to do this with all currencies. 

Iraq has been working with Governmental Agencies and Technological Developers to get them to this point. 

They have tested their money and in process of testing their money this month on electronic mechanisms that will help them to move forward in the new Digital asset-based Trading System.

We are on the verge of witnessing them move into a global implementation stage of their currency.

© Goldilocks 

https://search4dinar.wordpress.com/2024/01/28/the-central-bank-of-iraq-decides-to-restore-the-mechanism-of-financing-foreign-trade-for-iraq-starting-next-march/

Iraq and the IMF BY NADER FROM MID EAST

Al-Sudani: The investment environment in Iraq has become promising, welcoming and open, 29 FEB

  Al-Sudani: The investment environment in Iraq has become promising, welcoming and open, 29 FEB

On Thursday, Prime Minister Muhammad Shiaa Al-Sudani described Iraq’s investment environment as “promising, welcoming and open after the financial, administrative and banking reforms carried out by the government he heads.”

This came during his reception of a delegation from the Turkish company Limak, which specializes in transportation and construction projects, headed by the company’s founder Nihat Ozdemir, according to a statement issued by the Presidency of the Council of Ministers.

At the beginning of the meeting, Al-Sudani pointed out the investment and development opportunities that the company can contribute to in Iraq, especially in the areas of infrastructure and transportation projects, and what is related to the development road projects and the Grand Al-Faw Port, as well as road, bridge and industrial city projects in various governorates.

The Iraqi Prime Minister reiterated the government's welcome of companies with high technical and operational experience, explaining that the investment environment in Iraq has become a promising, welcoming and open environment, especially after the financial, administrative and banking reforms took their course, and the private sector was qualified to conclude fruitful partnerships with international companies. link

Evening News with MarkZ. 02/29/2024

"RV UPDATE" BY HERNAN R BRAVO, (ENGLISH & SPANISH), 29 FEB

Wednesday February 28, 2024

If all goes as expected, we may have a three-day celebration starting around THURSDAY, FEBRUARY 29.

The rates for the Coins with the objective of the Revaluation being ready for FRIDAY, MARCH 01, 2024.

God bless you

J.B.

By Hernán Robert Hbravo 

----

TRANSLATE SPANISH: 

Miércoles 28 febrero de 2024

Si todo sale como se espera, es posible que tengamos una celebración de tres días que comience alrededor del JUEVES 29 FEBRERO.

Se acordaron las tarifas de las

Monedas con el objetivo de que la Revaluación estén listos para el VIERNES 01 MARZO 2024.

Dios los bendiga

JB

De Hernán Robert Hbravo

Iraqi Dinar update for 02/28/24 - Korea restarts housing projects BY PIMPY

A Movement To List Government Bonds In The Markets, 29 FEB

 A Movement To List Government Bonds In The Markets, 29 FEB

Market  Economy News – Baghdad  On Monday, the Iraqi Securities Commission explained the importance of government bonds, stressing that they provide financial liquidity for investment projects, while indicating that there is a movement from the Central Bank to list government bonds in the markets.

The Chairman of the Authority, Faisal Al-Haims, said in a statement reported by the official news agency and seen by Al-Iqtisad News, that “three issues of government bonds were issued, as the first and second issues were launched, and now there is the third issue.” He pointed out,

"There are requests from the Central Bank of Iraq to list these bonds on the market," indicating that

"those bonds are debt securities owed by the Iraqi government, in exchange for interest given to the owner of this bond."

 He stressed, "This measure will provide financial liquidity for the investment projects launched by the Prime Minister and his government," suggesting that  they "will be crowned with goodness and success for the Iraqis."

Government bonds are a type of debt-based investment, where you lend money to the government in exchange for an agreed interest rate.

Governments use them to raise money that can be spent on infrastructure or new projects, and

investors can use them to obtain set returns that are paid at regular intervals.

335 views      02/26/2024 - https://economy-news.net/content.php?id=40882

How Countries Can Successfully Reinstate a Gold Standard, 29 FEB

 How Countries Can Successfully Reinstate a Gold Standard

On February 27, 2024
By Awake-In-3D

In recent discussions around monetary policy and financial stability, the idea of returning to a Gold Standard has resurfaced as a topic of considerable interest.

Historically, various nations, including the United States, Britain, and Japan, have adopted and then moved away from the Gold Standard at different points in their economic histories.

The process, while not new, presents a range of methods and implications worth exploring in today’s economic context.

Here I would like to demystify the process and implications of reinstating a Gold Standard, breaking down the complex subject matter into understandable terms.

Discussing the deeper GCR mechanisms, such as global gold unit of value and purchasing power parity between currencies, is beyond the scope of this article.

Understanding the Gold Standard

Simply put, a Gold Standard is a monetary system where a country’s currency has a value directly linked to gold. Countries that adopt the Gold Standard agree to convert paper money into a fixed amount of gold upon request.

The benefit of such a system lies in its ability to provide a stable and reliable currency value, contrasting sharply with the fiat currencies most countries use today, which are not backed by physical commodities.

The Three Roads to a Gold Standard

Historically, there have been three primary methods to transition back to a Gold Standard, each with its own set of considerations.

1. Returning to a Prior Parity: This method involves reinstating a gold value that was used in the past. It’s feasible only when the currency hasn’t strayed too far from this historical value. A prime example is the United States in 1879, which reverted to its pre-Civil War gold parity after a period of devaluation. This approach offers a straightforward transition under specific conditions but is limited by the extent of currency devaluation that has occurred since the last parity was used.
2. Adopting a Figure Close to the Current Trading Value: When returning to a historical parity isn’t viable due to significant currency devaluation, a country might set a new gold value close to the market’s current trading rate. This approach was taken by France after World War I. It allows for a more practical transition but requires careful consideration of economic impacts, including potential inflation or deflation as the market adjusts to the new standard.
3. Introducing a New Currency: In cases where the existing currency is severely devalued or destabilized, a country might opt to introduce a completely new currency with a gold value chosen at will. This method effectively starts the monetary system from scratch, offering a clean slate after economic crises such as hyperinflation. While it signals a fresh beginning, it’s typically a measure of last resort, reflecting profound economic disruptions.

Economic Implications for Returning to a Gold Standard

The transition to a Gold Standard, regardless of the method chosen, is not without its economic challenges.

For instance, setting a gold value significantly higher than the current currency value could lead to prolonged periods of price adjustment and potential recession, as seen historically.

However, examples from France in 1926 and Russia in the early 2000s demonstrate that with strategic tax reforms, countries can mitigate recessionary impacts and even achieve economic booms.

Ultimately, the decision to return to a Gold Standard involves balancing historical precedents with current economic realities.

The principle of stable money and low taxes emerges as a guiding formula for success, suggesting that a strategically planned approach to reinstating a Gold Standard would lead to substantial economic benefits for all nations.

The major consideration today, given how global trade and financial networks are all interconnected, is how each country’s gold-backed currency would be relative to each other in the context of currency exchange rates.

This is important, because never in the history of world has the entire planet orchestrated an interconnected system of different gold-backed currencies.

It’s also why the GCR is very complex and requires a highly sophisticated system of processes and management.

Historical Examples of Nations Reinstating Gold Standards

United States (1879): Returned to pre-civil war parity at $20.67/oz after the Civil War devaluation, where the dollar’s value had dropped but was still relatively close to its original value.

France (1926): Adjusted to a new parity after the franc’s value decreased significantly, reflecting a pragmatic approach to severe currency devaluation. The franc was successfully repegged to gold at a rate that reflected a 5:1 devaluation but combined this with tax rate reductions and infrastructure development, leading to economic growth.

Russia (post-1998 devaluation): Stabilized the ruble against the dollar at the prevailing rate after introducing a flat tax in 2001, which led to a period of economic improvement.

=======================================

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D

Inflation is down again in Iraq BY NADER FROM MID EAST

RBZ tokenized gold mops up ZW$5,24 bln, 29 FEB

 RBZ tokenized gold mops up ZW$5,24 bln

28th February 2024
By Alois Vinga

THE Reserve Bank of Zimbabwe’s (RBZ) latest tokenized gold sales have mopped up a whooping ZW$ 5, 24 billion.

Synonymously known as Zimbabwe Gold (ZiG) was launched in October 2023 following the successful issuance of physical gold-backed tokens in 2022. The digital tokens can be stored in either e-gold wallets or e-gold cards and are tradable for peer-to-peer and business transactions.

ZiG value is at par with the value of the physical Mosi-oa-Tunya gold coin and remains informed by the international gold price.

In a statement Tuesday, the RBZ revealed that a significant chunk of ZW$ was mopped up after the latest sales.

“The RBZ would like to notify the public of the results of the RBZ Gold Backed Digital tokens Issue No 22 /20/2024 held on Tuesday 27 February 2024. The bank received 12 applications valued at ZW$5,24 billion to purchase GBDT and the full amount was allotted,” the bank said.

Total Milligrams of gold purchased during the sales amounted to 4,86 kgs of gold and cumulatively a total of 736,5 kgs of equivalent gold has been purchased to date.

The southern African country now joins other African states like Nigeria, Ghana and South Africa that have introduced digital currencies, even as several others have plans in the works.

The ZiG introduction is part of a wider plan by the central bank to stabilise the country’s local unit, which has been faltering against the US dollar, by mopping up excess liquidity in the market.

Source: New Zimbabwe

"IRAQ HAS A RATE!!" BY TRUTH WARRIOR VIA BEARDED PATRIOTUSA, 29 FEB

 TRUTH WARRIOR

🇺🇸💥❤️🇺🇸. Iraq has a rate!  Great news! 💥💥💥. $3.22-3.55 and will float upwards!  💥💥💥. Our Event should occur when the rate stabilizes on the Forex!  🇺🇸💥🇺🇸👇👇👇

https://t.me/Bearded_PatriotsUSA/15720

"IRAQ- DELETION OF 3 ZEROS PROJECT" BY ARIEL, 29 FEB

 Ariel

@Prolotario1

Iraq- Deletion Of 3 Zeros Project

A Currency Redenomination:

Ex. The key equation governing this is:
Value = Exchange Rate x Face Value

Where:

Exchange Rate: The value of one currency unit against another (e.g. Dinar vs Dollar) Face Value: The number printed on the banknote (e.g. 10,000 IQD printed on a 10,000 dinar bill) When 3 zeros are removed from the Face Value via redenomination, the New Face Value becomes 10 IQD. Remember all of this is happening internally in Iraq. For their domestic market. 

So if you already have the IQD this has nothing to do with anyone outside the country. The central bank will adjust the Exchange Rate proportionally at the same time. For example: Old Face Value: 10,000 IQD Old Exchange Rate: 0.00085 dollars per 1 IQD New Face Value: 10 IQD New Exchange Rate: 0.85 dollars per 1 IQD So in both cases: Value = (Exchange Rate) x (Face Value) = 0.00085 x 10,000 = 0.85 x 10 = 8.5 dollars Thus the Value in dollars is conserved, keeping real purchasing power constant in the economy. Only the numeric aesthetics change essentially. 

Banks will implement this across deposits, loans, bills, salaries, prices etc simultaneously via the issuance of new banknotes/coins. Timing and Logistics: A key challenge is smoothly swapping old dinars for new dinars without economic disruption. So the Central Bank of Iraq will set a specific exchange period – let’s say 1 month. During that time, citizens can bring old cash and account balances to banks/financial institutions to exchange directly for newly issued bills/coins based on the adjusted exchange rate and face values. Old 10,000 dinar note x 0.00085 exchange rate –> New 10 dinar note x 0.85 exchange rate Banks do this incrementally to scale. They will likely bring in newly printed money (with 3 less zeros) in stages to swap for old money until the full money supply is transitioned. The central bank monitors and manages money supply inflation indicators throughout.

Additional new bills can be printed if needed to meet transactional demand during the swap. But care is taken not to devalue by overprinting recklessly. Accounting Impacts: All reporting like financial statements and accounts must reflect the changes as well during this time. It means scaling accounting balances like: Prices of goods and services Salaries Market capitalizations House values Bank balances With three less zeros appropriately. Proper protocols will govern this for auditability and truthfulness. 

After the Transition: After the exchange period closes, the old dinars would likely no longer hold legal tender status as a vintage collectors item. The new dinar serves all money functionality at appropriately denominated scales for ease of use. So if you bought your Iraqi Dinar before this redenomination you will not be effected. Your currency will be honored. 

Only people who purchase the Dinar after it goes international on the Forex will not see any significant returns no matter how much IQD they have purchased. Which is why you those who already have IQD are now top priority for Tier-2 exchanges. But hey’ do not take my word for it. Here is an economists from Iraq confirming everything I just told you officially. 

Once again you all need to stop listening to people who get their info from Western media outlets. 

Please share this with people who may be confused. 

Read: https://search4dinar.wordpress.com/2024/02/26/doe

=======================================

Ariel
@Prolotario1

Now do you see why I told you all how important it us to have your receipt? The banks will need to know if you bought the currency before the “Deletion Of The Zeros Project”. This is not to say they may not do your exchange. But this will make the process more difficult for you. Because you will have to go through additional steps to prove you got the currency through legitimate means. But when you read the article that explains thar your currency will not lose any value you are hearing it directly from an Iraqi official who made it clear that whoever may hold IQD at this particular moment do not have to worry about your holdings not being honored as the value they will be worth once the currency is on the Forex. Because everything about the “Deletion Of The 3 Zeros Project” is for the Iraqi economy. This has nothing to do with what you hold outside the country. So everyone that has Iraqi Dinars now are is great shape.

3:53 AM · Feb 27, 2024

=======================================

Ariel
@Prolotario1

1. It’s a currency conversion or scale change more than anything else. Simply changing numerical representations rather than economic fundamentals.

2. The redenomination aims to keep the dinar at the same real foreign exchange conversion rate with US dollars and other global currencies. For example:

Pre-Redenomination: 1,300 IQD could buy $1 USD when exchanged
Post-Redenomination: 1.3 New IQD would exchange for that same $1 USD Still the same real purchasing ability.

3. Domestically within Iraq, all prices, wages, savings etc would be scaled down proportionally when denominated in new dinars. Preserving individual real buying capacity.

Do you all understand now? The value of the currency will not change. Overall it’s mostly an ease of use change in numeric scale. The currency itself does not lose economic value or power intrinsically through this conversion process if executed properly by Iraq’s central bank. It would still buy the same amount of goods or other currencies.

4:02 AM · Feb 27, 2024