DINAR REVALUATION

Thursday, May 2, 2024

'Historic' 40% Rally In Stocks By Summer: David Hunter Doubles Down On M...

Deputy: The oil and gas law will limit smuggling and the region is obstructing it, 2 MAY

Deputy: The oil and gas law will limit smuggling and the region is obstructing it, 2 MAY

Individual from the Oil and Gas Panel, MP Intisar Al-Jazairi, uncovered on Wednesday that there is no political agreement on endorsing the oil and gas regulation, which thus restricts oil sneaking in the locale.

The delegate said in a proclamation to the “, “The issue of oil sneaking through the locale is viewed as profound and must be constrained by endorsing the oil and gas regulation,” taking note of that “the provincial government doesn’t acknowledge to concur with the middle to support it as a result of its advantage from tasks.” continuous pirating.

She added, “The law is still in the passages of the Chamber of Clergymen and there is a significant political conflict on the Kurdish side. When it arrives at the Gathering, the law will be endorsed on the grounds that it protects the nation’s oil assets,” taking note of that “the local government will bear full liability regarding upsetting this regulation.”

Al-Jazairi closed her discourse by saying: ” The local government thinks about that the oil is its property in spite of the choices of the Bureaucratic Court, which didn’t maintain it, and which are conclusive and restricting on everybody.”

It is critical that the area carries in excess of 22 thousand barrels day to day through the Ceyhan port, in collaboration with Turkish organizations, and its imports go into the pockets of the decision family considering what is happening that the Kurdish resident experiences.

"RV UPDATE" BY DEEPWOODZ, 2 MAY

Deepwoodz

We used to get articles all the time about the need to pay salaries. I haven’t seen these much lately, if at all. Something else missing has been the START of new contracts and their costs...With the added 400 billion in new agreements Sudani spoke of. That’s billion dollars too by the way. Convert that to dinar if you like and see if you think Iraq has ever had that many dinar printed.

Then we have the HCL rights which are defined in the constitution as well, but still nothing on paper. Obviously Sudani’s government is keeping a secret. I wonder what that could be? Wouldn’t these three items be dependent on a NEW value to their currency? I have no doubt.

FRANK26……5-1-24…….CALENDAR GETTING SHORTER

"ABOUT THESE REFINERIES UP AND RUNNING IN IRAQ RIGHT NOW" BY MNT GOAT, 2 MAY

IRAQ TALKS ABOUT PRODUCING ONE MILLION LITERS OF GASOLINE DAILY

Baghdad – Iraq Today:

The Iraqi Ministry of Oil announced the completion of the project to operate the Azmra unit in both Basra Refinery with a capacity of 1.3 million liters per day, and the Central Refineries Company in Dora with a capacity of 750 thousand liters per day.

The Undersecretary for Refinery Affairs, Hamed Younis, said in a press statement that “the operation of the Azmra unit in the Middle Refineries Company contributes to maximizing and improving inventory, adding a production capacity of 750,000 liters per day, in addition to dispensing with the import of high-octane gasoline by 1.5 liters per day. ”

Younis stressed the keenness of the federal government and the ministry to “increase refining capacity production rates and improve production in national refineries to reach self-sufficiency and gradually shift to exporting them to global markets, according to the Arab World News Agency.”

(Well…well…its about time that Iraq got these refineries up and running. Lots of article about this effort over the last ten years. 😊 Did I hear of another export product here?)

"RV UPDATE" BY PIMPY, 2 MAY

Pimpy

Question: "If thy delete the zeros will our dinars drop in value?" If you're in Iraq you don't lose any value..

.People who are invested in the Iraq dinar...

EXAMPLE: Let's pretend like the new exchange rate has changed and you can get $1 US for every 1 dinar...If you had the 25,000 dinar, the 1 to 1 would be perfect without them deleting the zeros. That's because you would get $25,000 for your 25,000 dinar. But if they delete the zeros...your 25,000 dinar is now reduced down to a 25 dinar. Even if they go 1 for 1 that means you're 25 dinar is only worth $25. So yes, your dinar would drop in value if they delete the zeros before the change in the exchange rate happens.

[Response to Breitling post below.] To strictly say the sole reason they added the three zeros to the Iraqi dinar is policy based inflation is not accurate. Yes, it was the central bank of Iraq that devalued the currency...[and] added the 3 zeros...

The first gulf war you can see what the inflation rates were. 1991 - 180%. That's really high. '92 - 83%. '93 - 207%. 1994 - 448%. 1995 - 387%. When you average all these thing up, by the time we got into re-denomanating the currency and the new Iraqi dinars were created getting away from the Saddam notes and Swiss dinar to the currency we have today all these things contributed to it. Hyperinflation, mismanagement, all those things played a key part. So there is no one thing that happened.